The household vacuum cleaners market is moderately fragmented with varying levels of competition in different regions, notes Transparency Market Research (TMR). iRobot Corporation and Electrolux AB are at the forefront of the global market while Dyson Ltd. has a considerable clout in the premium pricing range, that is, for vacuum cleaners priced above US$200. Some of the other top players are TTI Floor Care, Bissell Inc., Miele, Panasonic Corporation, Haier Group, and Eureka Forbes.
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The global household vacuum cleaners market stood at US$11.0 bn in 2012. Rising at a CAGR of 4.90% during 2012–2018, the market is projected to reach a worth of US$14.6 billion by the year end.
The various types of vacuum cleaners are upright, canister, central, robotic, drum, wet/dry, and others that include handheld and stick vacuum cleaners. Of all the types, the segment of canister household vacuum cleaners led in 2012 and is projected to retain its dominance throughout the forecast period. Despite the high cost, the superior cleaning functionality offered to users compared to other vacuum cleaners is a key factor accounting for the extensive demand.
Regionally, Asia Pacific held the leading share in 2012 and is projected to continue dominating the market over the forecast period. The swift pace of urbanization in the various economies of the region is fueling the substantial uptake of household vacuum cleaners.
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Rising Demand for Modern Home Appliances for Cleaning Accentuate Growth
The vast disposable incomes of consumers, especially in developing and developed countries, has led to a surging demand for modern home appliances such as vacuum cleaners. The rise in the quality of lifestyle in emerging economies has provided a considerable thrust to the demand for vacuum cleaners to replace manual cleaning. The widespread focus of consumers in adopting advanced appliances for a convenient and effective cleaning of dirt is a notable factor fortifying the demand. Furthermore, the growing number of household consumers who are at the risk of asthma is a notable trend also catalyzing the uptake of vacuum cleaners.
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