NEW YORK, Oct. 11, 2023 /PRNewswire/ -- The vacuum cleaner market size is expected to grow by USD 6.96 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 10.94% during the forecast period. A growing number of smart cities is notably driving the vacuum cleaner market. However, factors such as threats from counterfeit products may impede market growth. The market is segmented by Application (Residential, Commercial, and Industrial), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The free sample report is available in PDF format
Key Segment Analysis
By application, the residential segment is significant during the forecast period. The growth in the segment is due to the majority of market players having dominated only one-tenth of the total addressable market. Various new players are entering the market such as those specializing in consumer electronic products. The growing trend of online shopping is expected to fuel the growth of the vacuum cleaner market in the residential segment. To know additional highlights and key points on various market segments and their impact in coming years, View the free PDF Sample Report.
Geographical Market Analysis
By geography, North America is estimated to contribute 41% to the growth of the global market during the forecast period. Factors like consolidation and inorganic growth strategies, with key market players acquiring prominent local players to expand their market presence, drive the regional market growth of vacuum cleaners. High investments in R&D to introduce newer and more innovative products by market players. These investments are to fulfill the demands of consumers and give severe competition to counterfeit products.
Company Insights
The vacuum cleaner market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
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., Stanley Black and Decker Inc., Tata Sons Pvt. Ltd., Vac-U-Max, Snow Joe LLC
- View the free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
The Robotic Vacuum Cleaner Market size is estimated to grow by USD 5,701 million accelerating at a CAGR of 17.62% between 2023 and 2027.
The vacuum truck market size is expected to increase by USD 416.93 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.41%.
Vacuum Cleaner Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.94% |
Market growth 2023-2027 |
USD 6.96 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
10.46 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 41% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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., Stanley Black and Decker Inc., Tata Sons Pvt. Ltd., Vac-U-Max, and Snow Joe LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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