Market Size of Residential Vacuum Cleaners Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Residential Vacuum Cleaners Market Analysis
The Residential Vacuum Cleaners Market has generated a revenue of over USD 35 billion in the current year and is anticipated to register a CAGR of more than 3% for the forecast period.
Growth in the urban population in developing countries, improved infrastructural facilities, and a rise in awareness towards cleanliness and hygiene globally are factors that drive the market. Cost-effectiveness, safety, efficiency, high accessibility to small areas, and automation in residential cleaning have resulted in increased demand for vacuum cleaners. The improvement in living standards, rise in disposable income, and increase in the working population, coupled with high purchasing power, and ease of operations in vacuum cleaners are anticipated to further drive the demand for household vacuum cleaners globally.
However, unawareness, high energy consumption in the conventional type of vacuum cleaners, and high prices of robotic cleaners limit market growth. Offline sales are expected to grow at a slower pace as they are affected by increasing online sales. The demand for vacuum cleaners using high-efficiency particulate air filtration technology is increasing at a fast pace, in the developed markets.
An exponential rise in demand for vacuum cleaners was observed in the residential Vacuum cleaner market during COVID-19, primarily owing to the increased demand to maintain hygiene conditions in homes amid a surge in coronavirus cases. Post COVID-19 there are wider technological advancements in the industry to prevent virus transmission.
