Vendors are aiming at digitalization and the development of new-age innovative products to maintain their competitive advantage
The window vacuum cleaner market size to reach USD 1.45 billion by 2024, growing at a CAGR of 10% during the forecast period. The global window vacuum cleaner market is undergoing several transformations in terms of product designs and innovations. The growth in urban development, the rise in living standards, and the change in lifestyle can be attributed to the increasing adoption of window vacuum cleaner appliances. In terms of revenue, the market is likely to grow at a promising growth rate in the coming years. Europe and North America are expected to observe a high demand for vacuum appliances in the residential sector. As these appliances have a short lifecycle, the replacement and after services market is likely to offer wide business opportunities to vendors. Besides, the replacement demand in emerging regions such as APAC and MEA is expected to grow due to the exponentially high focus on the dust-free environment.
Major players are focusing on offering lucrative and innovative products to customers. Vendors are aiming at digitalization and the development of new-age innovative products to maintain their competitive advantage in the upcoming years. Companies are aspiring on the compatible product designs with sustainable suction powers, flexibility for high utility, and development of several support accessories. Hence, major organizations are concentrating on technological progress to boost their product presence in the market.
The emphasis on the maintenance of the dust-free environment has significantly increased in the past years. In the future, this is going to get more stringent in developed as well as developing societies. This, in turn, is likely to generate demand for window vacuum cleaner in several commercial as well as residential places. However, modern-day infrastructure usually has better ventilation systems. They are usually enabled with an airborne dust system, and this often helps in the prevention of skin and clothing contamination. A window vacuum cleaner is one such product that can help in the development of dust-free surroundings, thereby increasing demand in the coming years.
WINDOW VACUUM CLEANER MARKET SEGMENTATION
This research report includes detailed segmentation by
INSIGHTS BY APPLICATION
The expansion in the commercial spaces sector is likely to boost the window vacuum cleaner market
In terms of CAGR, the residential segment is expected to witness the fastest growth during the period 2018–2024. Developed economies such as Europe and North America have a high adoption of window cleaning appliances as they are economically stable and follow a lavish lifestyle. The adoption can also be attributed to busy lifestyles and increasing number of women professionals. Emerging regions, such as APAC and Latin America, are price centric. Thus, the pricing of the product becomes important in these regions. Regions such as India have high residential demand; however, high pricing, along with low awareness, prevents penetration.
The rise in the construction of commercial spaces has driven the market. The construction sector will continue to dominate the global electronic appliances market, especially vacuum cleaners. The growth in construction output continues to attract capital, demonstrating its appeal over other asset classes. Hence, the expansion in the commercial spaces sector is likely to witness a boost in the coming years, thereby driving the window vacuum cleaner market.
The rise in the hospitality sector is likely to develop the demand for professional cleaning services as the rise in the customer base will lead to a high emphasis on hygiene and sanitation maintenance in the hospitality sector. This is likely to push owners to opt for window vacuum cleaner as they can be used for the window as well as mirror cleaning.
The emergence of personalized medicine, the increased use of exponential technologies, the entry of disruptive and non-traditional competitors, the demand for expanded care delivery sites, and revamped payment and public funding models are all affecting the financial performance of the health care ecosystem. Hence, the rise in the healthcare sector can push the demand for maintenance of the dust-free environment. Vendors can pitch window cleaning appliances to hospitals catering to their cleaning requirements, such as surgery desk cleaning, room cleaning, among several others.
INSIGHTS BY DISTRIBUTION CHANNEL
The online segment is witnessing high traction in the US and China
Window cleaners are mainly sold through dealer distribution channels and retail stores such as specialty stores, supermarkets, hypermarkets, mass-market players, electronic store. However, online stores are increasing gradually. The online segment is witnessing high traction from the US and other APAC countries, particularly China. The growth in online sales is set to increase by over 10% YOY during the forecast period. The primary reason for this is online stores offer more options to choose from than retail stores. Some vendors offer YouTube videos (video tutorials) and help beginners to get knowledge about the application and make them aware of these products. Besides, prices offered on the internet are lower than retail stores because of the discount offered by vendors to promote their products.
INSIGHTS BY GEOGRAPHY
Japan is likely to contribute more than 24% of the overall revenue generated in the forecast period in the APAC region
Europe is the largest market in terms of revenue and unit shipments. In 2018, Germany witnessed a surge in demand. The Europe region is witnessing high growth in the UK, Germany, and France, and these appliances are gaining popularity among end-users. North America holds the second-largest market share by revenue and unit shipments. The adoption and replacement of window cleaning appliances in North America grow at a steady pace. Although the sale growth of emerging brands remains moderate, the growing replacement demand is likely to increase the revenues in the future years.
APAC follows North America in terms of revenue and unit shipments. The adoption in APAC is growing at a steady pace, and the revenues has been increasing due to the increase in infrastructure development, leading to the establishment of advance commercial spaces. Japan is likely to contribute 24% to the overall revenue generated in the forecast period in the APAC region. Stable economic conditions, along with extreme focus on the maintenance of hygiene and sanitation, are driving the market.
MEA is ahead of Latin America by significant margins, as the market puts more emphasis on lavish living standards. The continuous focus on compatible infrastructure development, leading to the establishment of advance commercial spaces, is a major reason for the increase in demand for window cleaning appliances. The region offers vast opportunities as the increasing robustness in economic factors are creating demand for several business commodities and services.
The increased hygiene awareness in Latin American countries such as Brazil and Argentina has resulted in high adoption and demand. The market comprises several emerging countries. A few leading countries in the market are Brazil, Mexico, and Argentina. The Brazilian market is undergoing several transformations with regard to changing economic policies and manufacturing setups. The market has witnessed optimistic growth in the last few years.
KEY VENDOR ANALYSIS
The competitive scenario is currently witnessing intense competition among key players. The rapidly changing market dynamics with regard to product innovation and advancement is acting as a catalyst to intensify the competition. The adoption rate of innovative vacuum cleaning products has increased among end-users worldwide with the growing emphasis on sustainable and smart infrastructure development such as infrastructure 4.0 along with IoT. Intensifying competition among vendors has led to the introduction of innovative and advanced solutions in the market. Therefore, the market has witnessed the entry of many vendors. These players compete on various factors such as price, operational efficiency, quality, eco-friendliness, and variety. However, the price and operational efficiency are set to become a major base for competition among players to gain an edge over other vendors. Further, the growth of players depends on GDP growth and urban development. Vendors can enhance their revenue and profitability by practicing sound production techniques that minimize product costs and mitigate associated risks. As the demand is mainly fulfilled via dealers and distributor networks, thus vendors can even consider the development of strategic channels with major commercial infrastructure construction players in order to gather a stronghold over the existing demand of the respective market.
The window vacuum cleaner market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Market Segmentation by Distribution Channel
- Corporate Spaces
- South Korea
- Australia & New Zealand
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- North America