Vacuum Cleaner Market to Grow by USD 10.03 Billion from 2024-2028, as Smart City Initiatives Boost Demand with AI Redefining the Market Landscape - Technavio

Nov 12, 2024

Nov 11, 2024, 17:40 ET

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NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global vacuum cleaner market size is estimated to grow by USD 10.03 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 13.54% during the forecast period. Growing number of smart cities is driving market growth, with a trend towards social factors driving adoption of robot vacuum cleaners in urban areas. However, threat from counterfeit products poses a challenge.Key market players include Alfred Karcher SE and Co KG., American Vacuum Co., Beijing Roborock Technology Co. Ltd., BISSELL, Dyson Group Co., Emerson Electric Co., Haier Smart Home Co. Ltd., Irobot Corp., JS Global Lifestyle Co. Ltd., Koninklijke Philips N.V., LG Corp., MIDEA Group Co. Ltd., Miele and Cie. KG, NKT AS, Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Snow Joe LLC, Stanley Black and Decker Inc., Tata Sons Pvt. Ltd., and Vac-U-Max.

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Vacuum Cleaner Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 13.54%

Market growth 2024-2028

USD 10029 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.9

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 34%

Key countries

US, Germany, Canada, UK, and China

Key companies profiled

Alfred Karcher SE and Co KG., American Vacuum Co., Beijing Roborock Technology Co. Ltd., BISSELL, Dyson Group Co., Emerson Electric Co., Haier Smart Home Co. Ltd., Irobot Corp., JS Global Lifestyle Co. Ltd., Koninklijke Philips N.V., LG Corp., MIDEA Group Co. Ltd., Miele and Cie. KG, NKT AS, Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Snow Joe LLC, Stanley Black and Decker Inc., Tata Sons Pvt. Ltd., and Vac-U-Max

Market Driver

The vacuum cleaner market is thriving in the household appliance sector, focusing on cleaning floors with advanced suction and dirt removal technologies. Corded and cordless models cater to various residential and commercial sectors, while smart homes integrate automatic charging, voice commands, and digital voice assistants. Innovative robotic systems using IoT technologies and AI are gaining popularity. Manufacturers like Panasonic and BISSELL offer eco-friendly canister, robot, upright, handheld, bagless, and bagged models. Indoor air quality and e-commerce growth drive consumer demand. Advanced features, capacities, and power sources enhance cleaning efficiency and product innovation. Strategic alliances, health, and customer dynamics shape market trends. Safety, hygiene standards, and heavy-duty cleaning solutions address commercial environments. Specialized machines, suction mechanisms, and filtration systems ensure dust removal and address health concerns. Lifestyle changes and consumer spending influence market growth, with online sales platforms offering accessibility and sustainability.

In today's fast-paced urban lifestyle, consumers prioritize convenience and efficiency in their daily routines. With an increasing focus on social and professional activities, household chores have become a challenge. To address this, there is a growing demand for automated solutions, particularly vacuum cleaners. The tech-savvy population's preference for gadgets that simplify tasks is driving market growth. Developed countries, in particular, are showing a strong affinity towards advanced, easy-to-use vacuum cleaners. Vendors are responding by developing high-performance and durable models to meet consumer expectations.

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Market Challenges

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This vacuum cleaner market report extensively covers market segmentation by

1.1 Residential- The residential sector is the primary market for vacuum cleaners, with significant growth potential as only a tenth of the total addressable market has been penetrated. This has attracted numerous new players, including those specializing in consumer electronics. The increasing trend of online shopping in the residential sector will further boost sales during the forecast period. Additionally, the growth of smart cities in both developed and developing countries, such as the GCC and APAC, is driving demand for advanced vacuum cleaners like robotic models. Vendors are responding by developing technologically advanced robotic vacuum cleaners compatible with smart building technologies, thereby fueling market expansion.

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Research Analysis

The vacuum cleaner market encompasses a wide range of household appliances designed for cleaning floors effectively. Suction is a key feature, available in both corded and cordless models. Smart homes have brought automation to vacuuming, with automatic charging, voice commands, and digital voice assistants. Canister vacuums offer versatility for various floor types, while robotic systems and AI-powered machines bring innovative and efficient solutions. Hygiene standards are crucial in both residential and commercial sectors, making power sources and durability essential considerations. Manufacturing advances address environmental concerns, with features like automation and specialized machines for heavy-duty cleaning in commercial environments. Safety is paramount, ensuring machines meet hygiene standards without compromising performance. Power sources, features, and automation continue to drive market growth, making vacuum cleaners an indispensable tool for maintaining cleanliness and efficiency in various settings.

Market Research Overview

The vacuum cleaner market encompasses a wide range of household appliances designed for cleaning floors and removing dirt. Suction is a key feature, with both corded and cordless options available. Smart homes integrate automatic charging, voice commands, and digital voice assistants, while artificial intelligence and IoT technologies enable robotic systems for residential and commercial sectors. Hygiene and cleanliness are top priorities, with canister, robot, upright, handheld, bagless, and bagged models catering to various needs. Eco-friendly options and online sales platforms are on the rise, with advanced features, innovative designs, and strategic alliances driving product innovation. Manufacturing considerations include power sources, capacities, and safety standards. Environmental concerns and automation are shaping cleaning processes, with heavy-duty machines for commercial environments and specialized machines for wet, dry, and concrete surfaces. Lifestyle changes and consumer spending influence market trends, with health risks and operational efficiency shaping procurement analysis. Accessibility, sustainability, and digital products are also important factors in the evolving vacuum cleaner landscape.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio