The Cordless Vacuum Cleaners Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cordless Vacuum Cleaners Global Market Report 2024, The cordless vacuum cleaners market size has grown strongly in recent years. It will grow from $7.71 billion in 2023 to $8.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to pandemic influences, competitive landscape, rising disposable income, marketing and branding efforts, convenience and ease of use, urbanization and space constraints.
The cordless vacuum cleaners market size is expected to see strong growth in the next few years. It will grow to $10.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to multi-purpose functionality, compact and modular designs, enhanced filtration systems, expansion of smart features, wireless charging capabilities. Major trends in the forecast period include battery technology advancements, enhanced suction power, multi-surface cleaning capabilities, compact and lightweight designs, hepa filtration systems.
Increasing disposable income coupled with growing consumer awareness about health & hygiene among the urban population is contributing to the cordless vacuum cleaners market growth. The rise in income levels of the populace is enabling people to spend more on health and hygiene products. For instance, in June 2022, according to a report published by the Bureau of Economic Analysis, a US-based government agency, personal income climbed by $113.4 billion, or 0.5 percent, on a monthly basis in May 2022. The amount of disposable personal income (DPI) rose by $96.5 billion (0.5%). Moreover, the growing awareness associated with the benefits of vacuum cleaners such as the convenience of portability, and time efficiency drives the global cordless vacuum cleaners market demand. This, in turn, boosts the revenues for cordless vacuum cleaners.
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The cordless vacuum cleaners market covered in this report is segmented –
1) By Product Type: Handheld , Canister, Upright, Stick, Other Product Types
2) By Distribution Channel: Offline, Online
3) By Application: Household, Commercial
Major players are increasingly focusing on developing technologically advanced products to meet the demand from the consumers. The companies are growing emphasis on manufacturing next-generation vacuum cleaners with smart and cordless technology to improve consumer experience and make cleaning effortless. Additionally, the development of smart vacuum cleaners with battery sensing, floor-sensing, and filter-sensing technologies is a leading trend in the cordless vacuum cleaners market. For instance, in May 2022, Samsung, a South-Korea based electronics corporation, launched High-performance premium Jet™ Cordless Stick Vacuum Cleaners in India that Trap 99.999% of fine dust and allergens. It boasts a powerful digital inverter motor that optimises airflow with ultrasonic welded air foil blades for maximum efficiency. The Samsung JetTM is outfitted with a wide range of highly efficient motorised brushes that give a variety of cleaning options to suit various customer lifestyles, cleaning habits, and floor types.
The cordless vacuum cleaners market report table of contents includes:
1. Executive Summary
2.Cordless Vacuum Cleaners Market Characteristics
3.Cordless Vacuum Cleaners Market Trends And Strategies
4.Cordless Vacuum Cleaners market analysis
5.Cordless Vacuum Cleaners Market Size And Growth
6.Cordless Vacuum Cleaners Segmentation
7.Cordless Vacuum Cleaners Regional And Country Analysis
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27.Cordless Vacuum Cleaners Competitive Landscape And Company Profiles
28.Cordless Vacuum Cleaners Key Mergers And Acquisitions
29.Cordless Vacuum Cleaners Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Samsung Electronics Co. Ltd.
- Robert Bosch GmbH
- Panasonic Corporation
- Midea Group Co. Ltd.
- Haier Group Corporation
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