Westford USA, Nov. 26, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Vacuum Cleaner Market. size will attain a value of USD 29.45 Billion by 2031, with a CAGR of 9.7% over the forecast period (2024-2031). Growing disposable income of people around the world and rising emphasis on cleanliness and hygiene are projected to primarily augment the vacuum cleaner market growth over the coming years. The development of robotic and automated vacuum cleaners is projected to offer new business opportunities for market players going forward.
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Browse in-depth TOC on “Vacuum Cleaner Market”
- Pages – 165
- Tables – 62
- Figures – 75
Vacuum Cleaner Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 12.8 Billion |
| Estimated Value by 2031 | $ 29.45 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.7% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing disposable income slated to boost sales of vacuum cleaners |
| Key Market Opportunities | Development of smart and automated vacuum cleaners |
| Key Market Drivers | Rising emphasis on cleanliness and hygiene around the world |
Demand for Vacuum Cleaners in Residential Applications is Slated to Hold Dominant Share
Growing emphasis on cleanliness and rising disposable income of people have led to high demand for vacuum cleaners in homes around the world. Rising affordability of vacuum cleaners and evolving consumer preferences are also expected to play a vital role in promoting the high market share of this segment going forward. High demand for home automation is also expected to bolster vacuum cleaner market outlook in residential applications.
Online Channels are Estimated to Boost Sales of Vacuum Cleaners in Long Run
Increasing preference of people to shop online and growing internet proliferation are slated to be key factors allowing online channels to emerge as a highly opportune segment. High availability of discounts and a booming e-commerce industry are also expected to play a pivotal role in making this the fastest expanding distribution channel for vacuum cleaner companies in the future.
Rising Disposable Income Allows Asia-Pacific to Emerge as the Leading Market for Vacuum Cleaners
The presence of multiple vacuum cleaner providers coupled with growing disposable income has allowed Asia Pacific to account for a major chunk of the global vacuum cleaner market share. China, Japan, and India are slated to be highly remunerative countries for vacuum cleaner suppliers across the study period and beyond. Changing consumer preferences and growing technological proliferation are also forecasted to help this region’s dominance in the long run.
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Vacuum Cleaner Market Insights:
Drivers
- Growing emphasis on cleanliness and hygiene
- Rising disposable income and evolving consumer preferences
- Increase in the use of smart home devices and automation
Restraints
- High maintenance costs
- High saturation of vacuum cleaner providers in developed countries
Prominent Players in Vacuum Cleaner Market
- Dyson Ltd.
- AB Electrolux
- Miele & Cie. KG
- LG Electronics Inc.
- Samsung Electronics Co. Ltd.
- Panasonic Corporation
- iRobot Corporation
- SharkNinja Operating LLC
- Bissell Inc.
- TTI Floor Care North America
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Key Questions Answered in Vacuum Cleaner Market Report
- Which key drivers for vacuum cleaner providers are highlighted in this market forecast?
- Who is the leading vacuum cleaner company in the world?
- Which region brings in the most revenue as per this vacuum cleaner market analysis?
- Which key market trends are slated to boost revenue generation for vacuum cleaner providers through 2031?
This report provides the following insights:
- Analysis of key drivers (growing disposable income, rising awareness regarding cleanliness and hygiene, high use of smart home devices and automation), restraints (high costs of maintenance, high saturation in developed countries), and opportunities (development of smart and automated vacuum cleaners) influencing the growth of vacuum cleaner market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the vacuum cleaner market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia-Pacific.
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Skyquest Technology
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