Cordless Vacuum Cleaners Market:
Executive Summary
The global cordless vacuum cleaners market is expected grow from $19.10 billion in 2019 to $20.33 billion in 2020 at a compound annual growth rate (CAGR) of 6.41%. The growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing and fear in the minds of people to allow household help inside. The market is then expected to grow and reach $24.15 billion in 2023 at CAGR of 5.92%.
The cordless vacuum cleaners market consists of sales of cordless vacuum cleaners and related services. The vacuum cleaner is a device that uses an air pump to create a partial vacuum to suck dust and dirt from the floor, sofas, and other upholstery. Cordless vacuum cleaners work on batteries and offer better portability and convenience when compared with the corded vacuum cleaners. Moreover, battery powdered or cordless vacuum cleaners are tending to be safer than vacuum cleaners with cord and provides more flexibility, making them extremely agile.
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North America was the largest region in cordless vacuum cleaners market in 2019.
Major players are increasingly focusing on developing technologically advanced products in order to meet the demand from the consumers. The companies are growing emphasis on manufacturing next-generation vacuum cleaners with smart and cordless technology to improve consumer experience and making cleaning effortless. Additionally, the development of smart vacuum cleaners with battery sensing, floor-sensing, and filter-sensing technologies is a leading trend in the cordless vacuum cleaners market. For instance, in May 2019, Tineco, the premium smart electrical appliance company, announced the launch of PURE ONE, a smart cordless vacuum cleaner. Tineco’s smart vacuum cleaner leverages artificial intelligence for smarter, quieter, deeper, and longer cleans.
The cordless vacuum cleaners market covered in this report is segmented by product type into handheld , canister, upright, stick, others. It is also segmented by distribution channel into offline, online and by application into household, commercial.
The high cost of cordless vacuum cleaners is expected to limit the growth of the cordless vacuum cleaners market. According to Best Vacuum Guide, the cordless vacuum cleaners tend to be more expensive when compared with the corded vacuum cleaners owing to the advanced technology used. Furthermore, cordless vacuum cleaners use batteries thus, limiting the cleaning time. This scenario is restricting the demand for cordless vacuum cleaners.
Increasing disposable income coupled with growing consumer awareness about health & hygiene among the urban population is contributing to the cordless vacuum cleaners market growth. The rise in income levels of the populace is enabling people to spend more on health and hygiene products. According to Trading Economics Statistics, the disposable personal income in the USA increased to USD 16,763 billion in January 2020 from USD 16,273.4 Billion in March 2019. Moreover, the growing awareness associated with the benefits of vacuum cleaners such as convenience of portability and time efficiency drive the market demand. This, in turn, boosts the revenues for cordless vacuum cleaners.
Major players in the cordless vacuum cleaners market are LG; GlenDimplex; Haier; Puppyoo; Gtech; IRobot; SharkNinja; Stanley Black & Decker; BISSELL; TTI; Electrolux; Dyson; Miele; Neato Robotics; Oreck; Bosch; Dyson; Philips; Pro Team; Hoover; Eureka; and Dirt Devil.
Continuous…
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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