PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1636153
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1636153
The Asia-Pacific Handheld Vacuum Cleaner Market is expected to register a CAGR of 7.41% during the forecast period.
With the advent of COVID-19, most people were restricted in their homes, and the pressure of managing office jobs and household chores with increasing health concerns led people to adopt vacuum cleaners in their households. In addition to this, during the same period with global supply chain disruptions, there occurred a supply shock in the market, which resulted in higher prices of handheld vacuum cleaners because of a decrease in their supply.
Post-COVID-19 demand for the smart cleaning market in the Asia-Pacific is observing steady growth with higher health and safety standards adoptions in households and businesses. Australia, China, Hongkong, and India had emerged as countries with the largest average monthly salary in the region, resulting in increased household expenditure creating a positive externality for handheld vacuum cleaner sales. The launch of cordless handheld vacuum cleaners is increasing the portability and accessibility of the devices with their availability in different sizes, making them able to clean difficult spaces.
Asia-Pacific region is emerging as a leader in the global consumption market and is expected to account for half of the global consumption growth over the next decade. Local and regional brands in Asia Pacific are having a major share of consumer electronics. With an increasing per capita income in the region, households are adopting handheld vacuums with smart sensor technology and cordless features, making their cleaning experience more comfortable and effective. Per capita expenditure of private households on household appliances and consumer electronics in China has skyrocketed over the last two years, increasing the share of handheld vacuums in the market as well.
Willingness to buy premium household appliances in Asia Pacific is leading to global players launching their best handheld vacuum appliances in the market within a short interval. In comparison to rural regions, urban spaces of Asia Pacific have a significantly higher demand for home appliances with a higher living standard and income level, creating a positive externality for sales of handheld vacuums.
The cordless segment of handheld vacuum cleaners is providing households with diversified applications across residential spaces and even for their automobiles. With its energy-efficient technology, cordless handheld vacuum cleaners are helping households to achieve the aim of a sustainable lifestyle. Asia Pacific comprises over half of the global population, with countries like India and China having the largest number of residential spaces, providing ample opportunity for vacuum cleaner manufacturers to increase their sales.
The rising annual population growth rate of Megacities in Asia Pacific is creating demand for technologically advanced cleaning appliances, with Hangzhou in China and Japanese megacities of Tokyo, Nagoya, and Osaka leading the market. Major cities act as a strong magnet for education and employment. They drive demand for multifamily residential & housing space with more people migrating towards cities and increasing the customer base for vacuum manufacturers to increase their sales.
As a leading economic market observing continuous investment growth and with the highest share of the global population, Asia-Pacific exists as an opportunistic market for handheld vacuum cleaner manufacturers. In the segment of handheld vacuum cleaners, people prefer cordless vacuums with their flexibility to reach difficult spaces. The Asia-Pacific handheld vacuum cleaner market exists in a fragmented form, with more players entering the market. Some of the existing players in the Asia-Pacific Handheld vacuum cleaner market are LG Electronics, Samsung, Dyson, Philips, and Miele.