Vacuum Cleaner Global Market Report 2022: Ukraine-Russia War Impact

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Nov 25, 2022, 08:50 ET

NEW YORK, Nov. 25, 2022 /PRNewswire/ --

Major players in the vacuum cleaner market are Haier Group Corp., Electrolux AB, Samsung Electronics Co. Ltd., LG Electroncis Inc., Dyson Ltd., iRobot Corporation, Bissell Inc., Koninklijke Philips N.V., Panasonic Corporation, Techtronic Industries, Miele & Cie. KG, Oreck Corporation, EXAIR Corporation, Josef KrÃ¤nzle GmbH & Co. KG, Stanley Black & Decker Inc, American Vacuum Company, Debus GmbH, Ghibli & Wirbel SpA, Pullman-Ermator, Goodway vacuum, VAC-U-MAX, and CS Unitec Inc.

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The global vacuum cleaner market is expected to grow from $7.90 billion in 2021 to $8.83 billion in 2022 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The vacuum cleaner market is expected to grow to $12.31 billion in 2026 at a CAGR of 8.6%.

The vacuum cleaner market consists of sales of vacuum cleaner products by entities (organizations, sole traders, and partnerships) that are used to clean floors and other surfaces by using vacuum suction that removes dust and dirt from floors.The vacuum cleaner is an electronic device that suckers dirt from surfaces and is powered by electricity.

Cleaning is done using a vacuum cleaner, known as vacuuming, that removes debris and fibers, soil particles, inmates, and foul odors to maintain fibers and floors.

The main product types of vacuum cleaners are canister, central, drum, robotic, upright, wet-dry, and others.The canister is used to clean floors and other smaller surfaces.

Canister vacuum cleaners are smaller and lighter vacuum cleaners that consist of long cleaning wands that help in cleaning under furniture. The different applications include industrial, residential, and commercial ones that are distributed through online and offline channels.

Asia Pacific was the largest region in the vacuum cleaner market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the vacuum cleaner market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing disposable income is expected to propel the growth of the vacuum cleaner market going forward.The income available to be spent after deduction of taxes and social security charges is called disposable income.

Increasing disposable income and lifestyle changes have fueled the market for vacuum cleaners steadily in the past few years.People are shifting towards electronic gadgets to make their lives easier and faster due to their changing lifestyles and increasing disposable income, which allows them to save more money and spend more money on products or gadgets to make their lives more comfortable.

For instance, according to the U.S. Bureau of Economic Analysis (BEA), the official website of the United States government, in 2022, the personal disposable income of an American citizen has increased by 0.4% and spending has increased by 0.9% monthly. Therefore, the increasing disposable income is driving the demand for the vacuum cleaner market.

Technological advancement is the key trend gaining popularity in the vacuum cleaner market.Major companies operating in the vacuum cleaner market are focused on developing technologically advanced products to strengthen their market position.

For instance, in March 2022, Creative Newtech Ltd., an India-based company operating in the designing and developing of cleaning equipment, launched Dustor, a next-gen robotic vacuum cleaner with light detection and ranging (LIDAR) technology. The Dustor is a next-generation robotic vacuum cleaner that is capable of tracing the smallest particles of dust where human eyes cannot see them, cleaning surroundings with the intervention of humans, and crossing obstacles while cleaning.

In September 2021, Advent International, a US-based private equity firm, acquired Eureka Forbes Ltd. for $550.6 million. The acquisition will assist the Shapoorji Pallonji Group in reducing debt and focusing on core construction and real estate businesses. Eureka Forbes Ltd. is an India-based consumer goods company that manufactures water purifiers, air purifiers, and vacuum cleaners.

The countries covered in the vacuum cleaner market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The vacuum cleaner market research report is one of a series of new reports that provides vacuum cleaner market statistics, including vacuum cleaner industry global market size, regional shares, competitors with vacuum cleaner market share, detailed vacuum cleaner market segments, market trends and opportunities, and any further data you may need to thrive in the vacuum cleaner industry. This vacuum cleaner market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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