Vacuum Cleaners Market share to grow at 4.5% CAGR from 2016 to 2024: Global Market Insights Inc. According to the new research report “Household Vacuum Cleaners Market Size By Product (Cordless/Stick, Upright, Canister, Central, Drum, Wet/Dry, Robotic), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, India, China, Mexico, Brazil), Application Growth Potential, Price Trends, Competitive Market Share & Unit Forecast, 2016 – 2024”, Household Vacuum Cleaners Market size will surpass USD 17.5 billion by 2024, as per a recent Global Market Insights research report. Global shipments are estimated to cross 130 million units by 2024, with increase at over 3.0% CAGR. Growing urbanization across the globe has led to increased requirements for appliances that are characterized with time saving and ease of home cleaning. Sustainable life style, changing consumption pattern and increasing expenditure on household appliances are major drivers for the household vacuum cleaner market size. The technological advancements to improve efficiency and provide healthy environment will support industry growth. The associated battery issues with newer technologies may restrain household vacuum cleaners market demand. Government mandates for the usage of eco design and energy labeling products affects the manufacturing process. For instance, the EU banned vacuum cleaner product with power over 1600W from being sold in the member countries. This limit will be reduced to 900W from September, 2017. In addition, the U.S. government under EPA and NHPA regulates the technical specifications for vacuum cleaners to prevent any damage due to the electrical motor used. From 2014, the specifications stated in EU eco design and energy labeling regulations must be met by the manufacturers for manufacturing and trading in the European Union.
Technological advancements have led to products that are incorporated with smart technologies such as HEPA filters, UV sterilization, security cameras, etc. Robotic vacuum cleaners market is set to grow considerably, with products being developed by leading companies that utilize intelligent programming and other sophisticated components. It provides scheduling of cleaning with mobile application. Developments in new energy saving technologies, touch screen, voice recognition may enhance customer experience.
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