CORDLESS VACUUM CLEANER INDUSTRY INSIGHTS
The global cordless vacuum cleaner market size to reach USD 9736.98 million by 2026, growing at a CAGR of 10.39% during the forecast period. The rising awareness about cleanliness among the consumers and the ease of the cleaning process is creating heavy demand for vacuum cleaners. North America and Europe contribute to the largest share of the market. APAC is observing a higher growth rate due to a rise in disposable income and increasing health awareness. The growing trend of co-working spaces is driving the growth of cordless vacuum cleaners worldwide. Purchasing power and the standard of living of people across the regions are the major factors impacting the market growth.
Vendors are heavily investing in R&D to incorporate new features in cordless vacuum cleaners. Due to the advent of COVID-19, online distribution channels are gaining immense traction in the cordless vacuum cleaner market. The demand for robotic vacuum cleaners and vacuum that work with various sensors is anticipated to surge demand during the forecast period. With the rise in the adverse effect due to high concentrations of pollutants, APAC is expected to be the fastest-growing region. These vacuum devices are gaining popularity in schools and small commercial spaces due to increased pollution and dust particles. Children are more prone to pollutants, which may affect them severely.
- The European market is one of the significant cordless vacuum cleaner markets and is expected to reach USD 2855.86 million by 2026.
- In February 2021, there were more than 7,70,000 new houses sold in the US. The expansion of the residential sector in the US is expected to drive the market in the country.
- The cost of the basic raw material (polypropylene) used in the production of cordless vacuum cleaners is lowest in Germany, USD 24,192 per ton and Italy USD 23,720 per ton, compared to other countries such as the UK, Spain, France, among others.
- COVID-19 is boosting online sales, due to which there is around 80% increase in the e-commerce sales in the Europe region.
CORDLESS VACUUM CLEANER INDUSTRY GROWTH FACTORS
- In the next five years, the government in France is planning to increase the rate of electronics repair from 40% to 60%. Instead of purchasing new electronic appliances, people are likely to get them repaired, which would increase the product's lifetime value.
- E-retailing cordless vacuum cleaners are gaining popularity because it is a time-saving and cost-effective process of purchasing products and witnessing high growth opportunities for the players.
- Advancement in technology such as robotics is creating opportunities for the players to innovate their products and grow in the cordless vacuum cleaner market.
- The acceleration of urbanization and the standard of living of people is increasing as people are adopting more advanced products for home cleaning, leading to a demand for cordless vacuum cleaners.
CORDLESS VACUUM CLEANER MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Distribution Channel
INSIGHTS BY CATEGORY
The floor segment is likely to witness an incremental growth of USD 2990.75 million by 2026.
The cordless vacuum cleaners, specifically designed for floor cleaning, occupy the market's highest share. For instance, In March 2021, Eufy launched a handstick cordless vacuum cleaner for floor cleaning in India. The growth of residential sectors in developing countries such as China, India, and others is expected to boost cordless vacuum cleaners' demand. North America and Europe are significant markets for floor-specific cordless vacuum cleaners due to their high purchasing power and higher living standards.
Participation in swimming pools leads to rising consciousness to hygiene as it remains open and is used by multiple persons. Thereby, the demand for pool cordless vacuum cleaners is expected to witness significant growth in the US during the forecast period.
INSIGHTS BY PRODUCTS
The global cordless vacuum cleaner market by the upright segment is expected to reach USD 2,839.94 million by 2026.
The rising electricity and labor costs in countries such as Germany, the UK, and others drive the upright vacuum cleaner market. Residential vacuum cleaners are expected to generate high revenue in the upright market. Bagged upright vacuums are very hygienic and enhancing the demand for these products across the globe. The growing concern towards sustainability and environment-friendly products is projected to boost the demand for this vacuum cleaner year on year.
INSIGHTS BY DISTRIBUTION CHANNEL
The share of online sales is likely to grow due to the increasing desire for convenience among individuals.
The online distribution channel in the cordless vacuum cleaner is significantly growing across all regions. Various vendors such as Eufy, Karcher, and others expand their presence to other countries by collaborating with other e-commerce channels in the global cordless vacuum cleaner market. The huge discounts provided in the online media attract consumers to buy these products through online channels. The rising tech-savvy population is giving a boost to online sales during the forecast period.
INSIGHTS BY END-USER
North America is expected to expand its cordless vacuum cleaner market share in commercial spaces between 2021 and 2026.
Developing countries such as India, China, and others are growing rapidly, and huge investments are taking place in these countries for the application of cordless vacuum cleaners. The advent of COVID-19 and several measures taken by governments of emerging economies are expected to be key factors driving the demand for cordless vacuum cleaners in commercial spaces. The global commercial vacuum market is growing at a CAGR of 11.05%.
INSIGHTS BY GEOGRAPHY
North America held a 36.21% cordless vacuum cleaner market share in 2020.
Around 89% of the US population and about 93% of the Canadian population uses the internet to create demand for a tech-savvy market in the North American region. The portability, convenience, and lightweight attributes lead to the increasing adoption of cordless vacuum cleaner by the population in Canada.
Europe, along with increasing per capita purchasing power, is consequently boosting cordless vacuum cleaners in European countries.
Dyson, Electrolux, LG, TTI Group, SharkNinja, Bissell, and others offer cordless vacuum cleaners in the global market. The key market players compete in various rounds, such as introducing new products, technology, and online presence. The constant innovation and development of new products are making the competition among the vendors more intense. Most key vendors focus on the European and North American markets to gain growth opportunities in the market. Vendors incorporate several innovative features in cordless vacuum devices such as floor sensing, battery sensing, and filter sensing technology to gain a competitive advantage.
The cordless vacuum cleaner market research report includes in-depth coverage of industry analysis with revenue and forecast insights for the following:
Segmentation by Category
- Window and Pool
Segmentation by Product
Segmentation by Distribution Channel
Segmentation by End-User
- Shopping Malls
- Retail Stores
- Segmentation by Geography
- North America
- South Korea
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa