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Household Vacuum Cleaners Market Report 2020 - Global Market Set to Exceed $12 Billion by 2023

/EIN News/ -- Dublin, Jan. 16, 2020 (GLOBE NEWSWIRE) -- The "Household Vacuum Cleaners Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

Where is the largest and fastest growing market for the household vacuum cleaners? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider household vacuum cleaners market, and compares it with other markets.

The global household vacuum cleaners market was worth $16 billion in 2019. It is expected to grow at a CAGR of 7.16% and reach $21.1 billion by 2023

In 2019, North America was the largest region in household vacuum cleaners market.

The household vacuum cleaner market covered in this report is segmented by type of product into upright, canister, central, robotic, drum, wet/dry, and other. The household vacuum cleaner market in this report is segmented by mode of sale into offline, and online. The household vacuum cleaner market in this report is segmented by type of use into floor vacuum cleaner, window vacuum cleaner, and pool vacuum cleaner. The household vacuum cleaner market in this report is segmented by operation mode into self-drive, and remote control

The rise in awareness for hygiene contributed to the growth of the household vacuum cleaners market in the historic period. There has been an increase in pathogens and infectious diseases. This has led to an increasing awareness on the importance of maintaining hygiene in care, nursing and residential areas, which in turn has driven the market for household vacuum cleaners. In 2018, according to a poll conducted by Hygiene Company SCA in the UK, 47% of people spend more than five hours a week on domestic cleaning tasks. Increase in awareness for hygiene coupled with the rise in disposable income drove the market for household vacuum cleaners.

Rise in awareness about the adverse effects of high energy consumption, and the carbon footprint associated with the usage of vacuum cleaners is expected to restrain the market in the forecast period. Several factors such as increasing internet penetration led to an increase in awareness about the consumption of energy, rising cost of energy and adverse effects associated with the usage of several household appliances such as vacuum cleaners. In 2019, European Union banned the sale of vacuum cleaners containing motors more powerful than 900W. These factors will limit the growth of the household vacuum cleaners.

Household vacuum cleaner manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient vacuum cleaners are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, European Commission- Eco design requirements for Vacuum Cleaners' contains eco-design requirements for several types of vacuum cleaners.

In July 2017, CDH Fund V, L.P., a private equity fund bought a significant stake in SharkNinja Operating LLC for an undisclosed amount. This partnership is expected to accelerate the growth of SharkNinja brand of products globally. Shark Ninja is a USA based manufacturer of home and kitchen electrical appliances including vacuum cleaners.

Major players in the market are AB Electrolux, Miele & Cie. KG, Samsung Electronics Co., Ltd., Dyson Ltd., Bissell Inc., iRobot Corporation, Panasonic Corporation, Koninklijke Philips N.V., Haier Group Corporation, LG Electronics.

Companies Mentioned

  • AB Electrolux
  • Miele & Cie. KG
  • Samsung Electronics Co. Ltd.
  • Dyson Ltd.
  • Bissell Inc.
  • iRobot Corporation
  • Panasonic Corporation
  • Koninklijke Philips N.V.
  • Haier Group Corporation
  • LG Electronics
  • BISSELL
  • Nilfisk
  • Bosch
  • SEB
  • Oreck
  • Hoover
  • Sanitaire
  • Rubbermaid
  • Numatic
  • Karcher
  • Midea
  • Goodway
  • Fimap
  • Columbus
  • Truvox International
  • Pacvac

For more information about this report visit https://www.researchandmarkets.com/r/qbn5y8

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