The global upholstery vacuum cleaners market is primarily being driven by factors such as growth in urban development, rise in living standards across societies, and faster lifestyle, among others.
According to the latest Arizton's market research report, the upholstery vacuum cleaners market size to cross USD 369 million by 2025, growing at a CAGR of around 13% during the forecast period.
Upholstery Vacuum Cleaners Market Growth
Upholstery vacuum cleaners are a mature market globally and are driven by the growth of innovations. The global upholstery vacuum cleaners market is primarily being driven by factors such as growth in urban development, rise in living standards across societies, and faster lifestyle, among others. The rising growth in urbanization and industrial development has provided vast growth opportunities to vendors in the upholstery vacuum cleaners market. The growth in online sales in upholstery vacuum cleaners is likely to increase by over 10% YoY during the forecast period.
Flexibility in Adoption of New Technology
The evolution of technology and the development of new technology or products such as upholstery vacuum cleaners is particularly fueled by the growing adoption of new tech trends, especially in the developed markets across the geography. Internet penetration around the world has increased significantly in recent years due to the growing trends of internet among the population. With the emergence of the internet, information technology, and transparency have significantly increased. The market has been witnessed this changing trend in the past few years as internet retailing has become widespread in the APAC market. Thus, rising internet penetration is resulting in the growing awareness of the latest technological trends. The rising awareness of the latest technological trends globally, along with strong knowledge regarding the use and efficiency of modern appliances, is supporting the flexible adoption of new and innovative technologies.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by product type, power type, distribution, and geography
- Competitive Landscape –12 Key Company Profiles
Upholstery Vacuum Cleaners Market – Geography Analysis
The upholstery vacuum cleaners market in Europe is largely driven by demand in Germany, the UK, France, Italy, Spain, and other Nordic countries such as Sweden and Norway. The Europe market has the presence of established global players such as Dyson and Hoover. The region is witnessing robust economic growth, affordability is not an issue regarding consumer buying potential. Europeans enjoy luxury, comfort, and premium products, which would propel the growth of the upholstery vacuum cleaners market in the region during the forecast period. The improving economy in many European countries has increased the disposable income and, therefore the purchasing power among consumers thereby, increasing the demand for upholstery vacuum cleaners in the region.
The international brand, Dyson, has brought about significant changes in the upholstery vacuum cleaners segment. The handheld cordless vacuum cleaner introduced by Dyson has intensified its competition with other global brands. Although the market is characterized by the presence of diversified international and regional vendors, as international players would increase their footprint in the upholstery vacuum cleaners market, regional vendors would be finding it increasingly difficult to compete with them. Companies in the upholstery vacuum cleaners market with better technical and financial resources can develop innovative products with respect to material and technology used. This could pose a threat to competitors' products and could make their product non-competitive and even obsolete before they can recover R&D and commercialization costs.
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