Vacuum cleaner market projected to double in size by 2030 with a CAGR of 9.7%
From GlobeNewswire: 2024-07-01 05:30:00
Exactitude Consultancy, a market research arm of Ameliorate Digital Consultancy, has released a comprehensive report on the Vacuum Cleaner Market. The global market size is projected to increase from USD 13.19 billion in 2023 to USD 25.22 billion by 2030, with a CAGR of 9.7% fueled by rising demand, changing lifestyles, and technological advancements.
One significant factor driving the growth of the vacuum cleaner market is the increasing applications in residential, commercial, and industrial spaces. Changes in lifestyle, higher incomes, and a growing workforce are further enhancing the market outlook. Technological advancements, particularly robotic vacuum cleaners, are playing a key role in influencing market growth.
Government regulations and policies are shaping the vacuum cleaner market, with energy consumption reduction initiatives like the vacuum cleaner energy label rule in Europe influencing manufacturers. Additionally, mergers and acquisitions are helping companies boost market share and innovate their product portfolios.
The vacuum cleaner market features a competitive landscape with several prominent companies, including Bissell Inc., Dyson, iRobot Corporation, Samsung Electronics Co. Ltd., and more competing to provide advanced solutions. Recent developments like the launch of high-precision ultrasonic metal welders by Emerson and rankings of valuable global brands indicate the market’s dynamic nature.
The Asia-Pacific region dominates the vacuum cleaner market due to the rising demand for home appliances driven by urbanization and population growth. Emphasis is also placed on the market share, growth rate, and opportunities in each country and sub-region. The report includes insight into various regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
To help clients make informed decisions, Exactitude Consultancy offers customization options for their reports, including country-level analysis, competitive analysis, analyst hours, and more. Additional reports published by the consultancy cover various markets, including Fire-Resistant Fabrics, DIY Home, Smart Parcel Locker, Cleanroom Apparel, Second-Hand Clothing, Thermal Paper, Smart Wearable Sports Devices, Cold Room Doors, and Soundbar markets.
Read more at GlobeNewswire: Vacuum Cleaner Market exhibiting a CAGR of 9.7% during the