New York, June 18, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Vacuum Cleaner Market Size, Share & Trends Analysis Report By Product, By Distribution Channel, By Application, By Region And Segment Forecasts, 2021 – 2028” – https://www.reportlinker.com/p06096561/?utm_source=GNW
Vacuum Cleaner Market Growth & Trends
The global vacuum cleaner market size is expected to reach USD 20.66 billion by 2028, registering a CAGR of 9.6% from 2021 to 2028. The growing per capita income in developing countries is one of the key factors leading to the increased consumer demand for advanced vacuum cleaners. Moreover, the COVID-19 pandemic has made people pay more attention to cleanliness and hygiene to maintain a sense of safety in private and public spaces. This is estimated to drive market growth over the next few years.
The COVID-19 lockdowns and related travel restrictions have restricted access to housekeeping services.The increased struggle to manage all household chores while maintaining high cleanliness and hygiene standards is driving the demand for household appliances such as vacuum cleaners.
To put this into perspective, Panasonic India has seen a growth of 20% in the sales of vacuum cleaners compared to pre-COVID times. Eureka Forbes Ltd. also witnessed strong demand for vacuum cleaners amidst the pandemic in India.
Government initiatives such as ‘Swachh Bharat Mission’ and 100% FDI in India have further fueled the growth of the regional market.Automatic vacuum cleaners and sweepers play a key role in maintaining public health in commercial places.
Several state governments in India have adopted road sweeping machines that work like vacuum cleaners to clean the roads. In 2019, Anker Innovations, a Chinese electronics company, entered the Indian market under the FDI scheme with its Eufy range of robot vacuum cleaners and experienced positive growth in 2020.
The market growth is influenced by strong and well-established distribution channels and diversification of manufacturing and supply chain capabilities.For instance, in January 2020, iRobot Corporation expanded its manufacturing facilities in Malaysia to serve the growing demand for household vacuum cleaners in developing countries.
In 2018, Snow Joe, LLC leased a Class A distribution center in New Jersey to expand its regional footprint and cater to the demand in the state.The online distribution channel has also gained momentum in recent years and companies are emphasizing the direct-to-consumer sales channel.
In 2020, Nilfisk Group launched an e-commerce platform to provide a seamless and improved digital customer experience to its customers. iRobot Corp. is also investing a significant amount in strengthening its direct-to-consumer sales channel infrastructure.
Vacuum Cleaner Market Report Highlights
• The use of intelligent technologies such as Artificial Intelligence (AI) to develop autonomous cleaning solutions is expected to emerge as a major trend aiding the market growth
• The robotic vacuum cleaner segment is expected to witness the fastest CAGR over the forecast period. The growth can be attributed to the advanced features offered by robotic cleaners that require minimum human intervention
• In terms of distribution channels, the online segment is anticipated to register a CAGR of over 9% from 2021 to 2028. This growth can be attributed to the enormous developments in digitalization and e-commerce platforms globally
• The introduction of advanced technologies in robotic cleaners, such as automatic charging systems and voice assistance systems, is expected to drive market growth in the residential segment
• North America is expected to maintain its market dominance over the forecast period. The increasing number of commercial places, demand for technology-driven cleaning systems, and the rising popularity of smart home products in the region are driving the regional market growth
Read the full report: https://www.reportlinker.com/p06096561/?utm_source=GNW
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