Asia-Pacific Handheld Vacuum Cleaner Market Size
|2020 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2020 - 2022
*Disclaimer: Major Players sorted in no particular order
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Asia-Pacific Handheld Vacuum Cleaner Market Analysis
The Asia-Pacific handheld vacuum cleaner market has generated gross revenue of USD 14.45 billion in the current year and is poised to register a CAGR of 7.41 % for the forecast period. The major segment of demand for handheld vacuum cleaners is the household segment, with China, India, Japan, and Indonesia among the existing countries in the Asia-Pacific with the largest number of households. As Asia-Pacific exists as the fastest-growing economy, hospitals and commercial business office space in the region are expanding continuously in the region, raising demand for a hygienic and clean environment for which handheld vacuum cleaner is an affordable and efficient option.
With the advent of COVID-19, most people were restricted in their homes, and the pressure of managing office jobs and household chores with increasing health concerns led people to adopt vacuum cleaners in their households. In addition to this, during the same period with global supply chain disruptions, there occurred a supply shock in the market, which resulted in higher prices of handheld vacuum cleaners because of a decrease in their supply.
Post-COVID-19 demand for the smart cleaning market in the Asia-Pacific is observing steady growth with higher health and safety standards adoptions in households and businesses. Australia, China, Hongkong, and India had emerged as countries with the largest average monthly salary in the region, resulting in increased household expenditure creating a positive externality for handheld vacuum cleaner sales. The launch of cordless handheld vacuum cleaners is increasing the portability and accessibility of the devices with their availability in different sizes, making them able to clean difficult spaces.
Asia-Pacific Handheld Vacuum Cleaner Market Trends
Rising Income And Household Expenditure Driving The Market
Asia-Pacific region is emerging as a leader in the global consumption market and is expected to account for half of the global consumption growth over the next decade. Local and regional brands in Asia Pacific are having a major share of consumer electronics. With an increasing per capita income in the region, households are adopting handheld vacuums with smart sensor technology and cordless features, making their cleaning experience more comfortable and effective. Per capita expenditure of private households on household appliances and consumer electronics in China has skyrocketed over the last two years, increasing the share of handheld vacuums in the market as well.
Willingness to buy premium household appliances in Asia Pacific is leading to global players launching their best handheld vacuum appliances in the market within a short interval. In comparison to rural regions, urban spaces of Asia Pacific have a significantly higher demand for home appliances with a higher living standard and income level, creating a positive externality for sales of handheld vacuums.
Increasing Residential Space Driving The Market
The cordless segment of handheld vacuum cleaners is providing households with diversified applications across residential spaces and even for their automobiles. With its energy-efficient technology, cordless handheld vacuum cleaners are helping households to achieve the aim of a sustainable lifestyle. Asia Pacific comprises over half of the global population, with countries like India and China having the largest number of residential spaces, providing ample opportunity for vacuum cleaner manufacturers to increase their sales.
The rising annual population growth rate of Megacities in Asia Pacific is creating demand for technologically advanced cleaning appliances, with Hangzhou in China and Japanese megacities of Tokyo, Nagoya, and Osaka leading the market. Major cities act as a strong magnet for education and employment. They drive demand for multifamily residential & housing space with more people migrating towards cities and increasing the customer base for vacuum manufacturers to increase their sales.
Asia-Pacific Handheld Vacuum Cleaner Industry Overview
As a leading economic market observing continuous investment growth and with the highest share of the global population, Asia-Pacific exists as an opportunistic market for handheld vacuum cleaner manufacturers. In the segment of handheld vacuum cleaners, people prefer cordless vacuums with their flexibility to reach difficult spaces. The Asia-Pacific handheld vacuum cleaner market exists in a fragmented form, with more players entering the market. Some of the existing players in the Asia-Pacific Handheld vacuum cleaner market are LG Electronics, Samsung, Dyson, Philips, and Miele.
Asia-Pacific Handheld Vacuum Cleaner Market Leaders
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Handheld Vacuum Cleaner Market News
- November 2022: Brigii launched its M1 Vacuum Handheld cleaner as the newest version of the Brigii handheld vacuum cleaner line. It can be used on the floor, desk, keyboard, and at least five other surfaces with features of lightweight, cordless, handheld vacuum weighing just 0.5 kg with its unique air-duct technology.
- March 2023: Panasonic Malaysia launched its expanded line of Made in Japan Cordless Stick Vacuum Cleaner series with two of its lightest models (MC-SB33J and MC-SB53K) designed to make cleaning more convenient and stress-free than before. The key features of these models incorporate Panasonic's Float-Lite Technology with a 360° flexible floor cleaning feature that makes it easy and efficient to maneuver into tight corners and narrow spaces.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in demand of handheld cordless small-sized vacuum cleaner
4.2.2 Rising level of Income and household expenditure
4.3 Market Restraints
4.3.1 Rise in price of Household appliances post covid
4.3.2 Supply chain disruptions with geopolitical issues affecting the supply.
4.4 Market Opportunities
4.4.1 Technology innovation with sensors and durable battery backup increasing demand
4.4.2 Rise in adoption of handheld vacuum in office and commercial spaces.
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Technological Innovations in Asia-Pacific Handheld Vaccum Cleaners
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.2 By Application
5.3 By Distribution Channel
5.4 By Country
5.4.4 South Korea
5.4.5 Rest of Asia Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 LG Electronics
6.2.9 Baofumei Technology
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Frequently Asked Questions
What is the current Asia-Pacific Handheld Vacuum Cleaner Market size?
The Asia-Pacific Handheld Vacuum Cleaner Market is projected to register a CAGR of 7.41% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Handheld Vacuum Cleaner Market?
LG Electronics, Samsung, Dyson, Philips and Miele are the major companies operating in the Asia-Pacific Handheld Vacuum Cleaner Market.
What years does this Asia-Pacific Handheld Vacuum Cleaner Market cover?
The report covers the Asia-Pacific Handheld Vacuum Cleaner Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Handheld Vacuum Cleaner Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Handheld Vacuum Cleaner Industry Report
Statistics for the 2024 Asia-Pacific Handheld Vacuum Cleaner market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Handheld Vacuum Cleaner analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.