Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Vacuum Cleaner Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The vacuum cleaner market has seen a strong growth in recent years, currently valued at over $9 billion, and is projected to continue this trajectory with a forecasted increase to $14.65 billion by 2028, at a steady CAGR of 8.7%.
The comprehensive research covers a range of vacuum cleaner products, including canister, central, drum, robotic, upright, wet-dry, among others, and encapsulates data pertinent to both the residential and commercial sectors. This surge in growth is credited to technological advancements in home appliances, rising disposable income levels, and a mounting focus on health and air quality across the globe.
Regional Growth and Market Trends
Asia-Pacific is identified as the most significant region in the vacuum cleaner market, leading in market share in 2023 and projected to maintain its position through the forecasted period. The analysis in this report highlights the pivotal role technology plays within the industry, with innovation fueling continuous growth. One such example is the integration of LIDAR technology in robotic vacuum cleaners, enhancing efficiency and navigational accuracy.
The report identifies key trends that will shape the market in the coming years:
- Smart home integration
- Use of HEPA and advanced filtration technologies
- Incorporation of robotics and artificial intelligence (AI)
- Focus on sustainability and eco-friendly products
- Development of cordless and lightweight designs for user convenience
Consumer Behavior and Technological Innovation
The analysis details how rising disposable income and transformation in consumer lifestyles foster an augmented demand for vacuum cleaners. Lifestyle transformations and higher disposable income have prompted an inclination towards electronic apparatuses that simplify and improve life's daily chores. Moreover, the expansion of the E-commerce industry bolsters market growth by offering a convenient platform for consumer decision-making through product comparisons and reviews.
Technological advancements are recognized as a critical driver in the market. Innovations like Dyson's all-in-one wet-and-dry cordless vacuum cleaner stand testament to the industry's commitment to enhancing performance, convenience, and efficiency. Such advancements are pivotal in elevating consumer experiences and maintaining a competitive market edge.
Strategic acquisitions within the industry signify a consolidation trend, as global companies aim to broaden their market scope and fortify their market presence. As case in point, the recent acquisition of Eureka Forbes by a prominent international private equity firm stands to reshape consumer access to advanced vacuum cleaning technology.
The global vacuum cleaner industry report underscores the vital economic contributors within the market, listing prominent companies that are formulating the competitive landscape. Recognizing their influence is essential for understanding market dynamics and identifying growth opportunities.
A selection of companies mentioned in this report includes
- Haier Group Corp.
- Electrolux AB
- Samsung Electronics Co. Ltd.
- LG Electroncis Inc.
- Dyson Ltd.
- iRobot Corporation
- Bissell Inc.
- Koninklijke Philips N.V.
- Panasonic Corporation
- Techtronic Industries
- Miele & Cie. KG
- Oreck Corporation
- EXAIR Corporation
- Josef Kränzle GmbH & Co. KG
- Stanley Black & Decker Inc
- American Vacuum Company
- Debus GmbH
- Ghibli & Wirbel SpA
- Pullman-Ermator
- Goodway Technologies
- VAC-U-MAX
- CS Unitec Inc.
- SharkNinja
- TTI Floor Care
- SEB Group
- Eureka Forbes
- Numatic International
- Quirepace Limited
- Delfin Industrial Vacuums
- Hoover Commercial
- Polivac International Pty. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/u1a73j
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