Household Vacuum Cleaners Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Household Vacuum Cleaners Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : February, 2023 | Consumer Goods

Report Digest

Household Vacuum Cleaners Market – Overview

The household vacuum cleaners market has been projected to expand significantly in the upcoming years. These rapid growth opportunities in the market are due to the growing application of household vacuum cleaners as the electrical equipment that is utilized in order to clean carpets and floors with the use of suction. The rising use of these cleaners has been predicted to fuel growth avenues in the global market in the following years.

Vacuum cleaners have been generally available in various models and sizes, for instance, central vacuum cleaners, battery-powered, handheld, and others. Further, the household vacuum cleaners market has been serving as the vital vertical of the industry of household appliances that is growing at a significant speed with rising purchase power, growth in the working population, and rising concerns related to hygiene and health. Thus, based on these factors, the global market has been anticipated to expand at a rapid pace in the near future.  

household vacuum cleaners market

Household Vacuum Cleaners Market – Key Drivers

The household vacuum cleaners market has been commonly driven by a noteworthy increase in disposable income. Along with this, rising demand for automated and less time-consuming solutions for cleaning and better infrastructural facilities are expected to bolster the growth avenues in the global market in the forthcoming years.

The increasing urban population along with the improved standard of living across developing economies has been predicted to serve as one of the vital factors to boost the market growth in the upcoming years. Furthermore, innovation in the traditional household vacuum cleaners and the growing number of the tech-savvy population are likely to drive the demand for the products that are energy-efficient and thus boosts growth impetuses in the household vacuum cleaners market during the forecast period.

Vacuum cleaners are basically eco-friendly in nature and help to improve task efficiency that further preventing various types of dust allergies in asthma patients. So, on the basis of these factors, the household vacuum cleaners market is likely to expand at the rapid pace during the forecast period.

Household Vacuum Cleaners Market – Recent Developments and Key Players

The household vacuum cleaners market has been characterized owing to the presence of numerous players at local as well as international levels. The market is fragmented in nature. In addition to this, the players concentrate on the growth strategies for the achievement of their set goals and objectives. Increasing penetration of these players in the global market along with rising consumer awareness of the brand is also serving as a vital factor to generate lucrative avenues in the market. Furthermore, mergers or tie-up, increased count of the R & D activities for the enhancement of the company’s existing portfolio, launching of new products, and product portfolio expansion are some other initiatives that are taken by the global players in developing as well as developed nations around the world.

The key players in the household vacuum cleaners market include:

  • Panasonic Corporation
  • Dyson Ltd.
  • iRobot Corporation
  • Electrolux AB
  • LG Electronics, Inc.
  • Haier
  • Electronics Group Co., Ltd.
  • Miele & Cie. KG
  • Koninklijke Philips N.V.
  • Samsung Electronics Co., Ltd.
  • Bissell, Inc.

Household Vacuum Cleaners Market – Regional Assessment

The household vacuum cleaners market has been segmented into core four regions including Asia Pacific, North America, LAMEA, and Europe based on geographical areas. Out of these prominent regions, Asia Pacific has been estimated to hold a noticeable share in the global market throughout the forecast period. The market dominance is attributed to the rising consumer preference in order to switch from traditional cleaning techniques to automated cleaning solutions. Along with this, rising disposable income along with growing consumer awareness about the merits of vacuum cleaners have also been serving as vital factors to bolster market growth.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?