Overview and Scope
The vacuum cleaner is a device that uses an air pump to create a partial vacuum to suck dust and dirt from the floor, sofas, and other upholstery. Cordless vacuum cleaners work on batteries and offer better portability and convenience when compared with corded vacuum cleaners. Moreover, battery powdered, or cordless vacuum cleaners are tending to be safer than vacuum cleaners with cords and provide more flexibility, making them extremely agile.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the cordless vacuum cleaners market share in 2023. Western Europe was the second-largest region in the global cordless vacuum cleaners market. The regions covered in the cordless vacuum cleaners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the cordless vacuum cleaners market report are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Panasonic Corporation, Midea Group Co. Ltd., Haier Group Corporation, Xiaomi Inc., LG Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., AB Electrolux, Dyson Ltd., Makita Corporation, Brigii Tech Co. Ltd., SharkNinja Operating LLC, TTI Floor Care North America, Beko plc, BISSELL Homecare Inc., Taurus Group BV, Oreck Corporation, Miele & Cie. KG, iRobot Corporation, Kent RO Systems Ltd., Glen Dimplex Home Appliance Ltd., Hoover Inc., IPC Tools S.p.A., Neato Robotics Inc., Suzhou Puppy Pet Products Co. Ltd., Grey Technology Ltd.
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 – Macro Economic Scenario
5. Global Cordless Vacuum Cleaners Market Size and Growth
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32. Global Cordless Vacuum Cleaners Market Competitive Benchmarking
33. Global Cordless Vacuum Cleaners Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cordless Vacuum Cleaners Market
35. Cordless Vacuum Cleaners Market Future Outlook and Potential Analysis
36. Appendix
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