SELBYVILLE, Del., Feb. 16, 2020 /PRNewswire/ -- According to the latest report "Household Vacuum Cleaners Market by Product (Cordless/Stick, Upright, Canister, Central, Drum, Wet/Dry, Robotic), Sales Channel (Offline, Online), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of household vacuum cleaners will cross $30 billion by 2026.
The market growth is attributed to increasing consumer awareness about health and hygiene. Consumers are adopting these devices for cleaning allergens and harmful dirt particles from the air. Technological advancements by leading companies to improve energy efficiency of the device are contributing to the household vacuum cleaners market demand. Additionally, increasing residential sector development and maintenance activities across the globe will provide opportunities for industry growth.
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Upright vacuum cleaners are increasingly being used due to their low cost compared to other vacuum models. These devices are integrated with motorized brushes, providing them the ability to clean a variety of surfaces efficiently. Companies are offering these devices with several accessories & tools including turbo brush rolls, upholstery attachments, and pet claws to enhance performance. Moreover, the ability of upright vacuum cleaners to provide extensive cleaning paths between 12 to 14 inches is supporting their adoption across the globe.
The online sales channel segment is anticipated to grow significantly through 2026 due to increasing penetration of the internet and smartphones across the globe. Several companies including Alibaba, Amazon, and Walmart offer large discounts and a wide range of products to attract consumers, driving the household vacuum cleaners market revenue. Moreover, the availability of warranties as well as convenient return policies on e-commerce websites will lead consumers to make online purchases of home appliances.
A rising population along with an increasing urbanization rate in Latin America will support market demand throughout the forecast period. Consumers in urban areas are making investments in smart home appliances to enhance their comfort and convenience, supporting the adoption of intelligent vacuums. Moreover, the rapidly developing organized off-line retail industry will drive the size of the household vacuum cleaners market in Latin America. Global companies are establishing their new stores in the region to expand their presence and cater to regional consumer demands.
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Companies operating in the market are adopting several strategies, such as new product launches, mergers and acquisitions, and partnerships and collaborations, for business expansion. For instance, in August 2018, BISSELL announced the acquisition of Sanitaire, a vacuum cleaner brand of Electrolux. This aided BISSELL to enhance its product portfolio, thereby expand its business operations.
Some major findings of the household vacuum cleaners market report include:
- The increasing adoption of advanced household appliances has created a positive outlook for the market growth.
- The robotic household vacuum cleaners segment is witnessing significant growth owing to increasing consumer demand for automated home appliances.
- Upright and canister segments will secure a larger market share during the forecast timeline due to their several advantages including low cost, easy operability, and less maintenance.
- Online sales channel will witness the highest growth in the market between 2020 and 2026 due to wide product offerings and large discounts.
- Some of the key players operating in the household vacuum cleaners market include Dyson, Bissell., Haier Group, Black + Decker, Electrolux Group, iRobot, LG Electronics, Miele, Philips, Panasonic, Eureka Forbes Ltd, Robert Bosch, Samsung Electronics, TTI Floor Care, and Toshiba.
Table of Contents (ToC) of the report:
Chapter 3. Household Vacuum Cleaners Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2026
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.4 Technological and innovation landscape
3.4.1 Robotic vacuum cleaners
3.4.2 High-Efficiency Particulate Air (HEPA) filters
3.4.3 Noiseless vacuum cleaner
3.5 Regulatory Landscape
3.5.1 North America
18.104.22.168 ENERGY STAR
22.214.171.124 IEC 62885-2 Ed. 1.0 b:2016
126.96.36.199 Eco-design Directive 2009/125/EC
188.8.131.52 COMMISSION DELEGATED REGULATION (EU) No 665/2013
3.5.3 Asia Pacific
184.108.40.206 China Compulsory Certification (CCC)
220.127.116.11 HJ 2514-2012
3.6 Price trend analysis, by product
3.7 Industry impact forces
3.7.1 Growth Drivers
3.7.2 Industry pitfalls & challenges
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 Competitive landscape
3.10.1 Company market share analysis
3.10.2 Strategy dashboard
3.11 PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Household Vacuum Cleaners Market revenue to cross USD 30 Bn by 2026: GMI
The robotic household vacuum cleaners segment is witnessing significant growth owing to increasing consumer demand for automated home appliances.
SOURCE Global Market Insights, Inc.
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