PUBLISHER: The Business Research Company | PRODUCT CODE: 1435340
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435340
A vacuum cleaner is a device that utilizes an air pump to create a partial vacuum, enabling it to suction dust and dirt from surfaces such as floors, sofas, and upholstery. Cordless vacuum cleaners operate on batteries, offering enhanced portability and convenience compared to their corded counterparts. The use of battery power enhances safety and flexibility, making cordless vacuum cleaners highly maneuverable.
Cordless vacuum cleaners come in various types, including handheld, canister, upright, stick, and others. Handheld cordless vacuum cleaners are particularly convenient for quick cleaning tasks, providing ease of use and portability. These cordless vacuum cleaners are available through both offline and online channels, catering to both household and commercial needs.
The cordless vacuum cleaners market research report is one of a series of new reports from The Business Research Company that provides cordless vacuum cleaners market statistics, including cordless vacuum cleaners industry global market size, regional shares, competitors with a cordless vacuum cleaners market share, detailed cordless vacuum cleaners market segments, market trends and opportunities, and any further data you may need to thrive in the cordless vacuum cleaners industry. This cordless vacuum cleaners market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cordless vacuum cleaners market size has grown strongly in recent years. It will grow from $7.71 billion in 2023 to $8.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historical period can be attributed to various factors, including the influence of the pandemic, dynamics within the competitive landscape, an increase in disposable income, effective marketing and branding strategies, the appeal of convenience and ease of use, urbanization trends, and the challenges posed by space constraints.
The cordless vacuum cleaners market size is expected to see strong growth in the next few years. It will grow to $10.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to several factors, including multi-purpose functionality, compact and modular designs, improved filtration systems, the expansion of smart features, and the incorporation of wireless charging capabilities. Key trends expected in the forecast period involve advancements in battery technology, increased suction power, capabilities for multi-surface cleaning, compact and lightweight designs, and the integration of HEPA filtration systems.
The growth in the cordless vacuum cleaners market is being propelled by an increase in disposable income and a heightened awareness of health and hygiene among the urban population. As income levels rise, people are allocating more resources to health and hygiene products. Notably, a report from the Bureau of Economic Analysis in June 2022 revealed a monthly increase of $113.4 billion in personal income in May 2022 in the United States. Disposable personal income (DPI) also rose by $96.5 billion (0.5%). The growing recognition of the benefits associated with vacuum cleaners, such as portability and time efficiency, further fuels the demand for cordless vacuum cleaners, thereby boosting market revenues.
The growth of the cordless vacuum cleaner market is expected to be bolstered by an increase in the aging population. As the proportion of individuals aged 65 and older rises, there is a growing preference for appliances that are easy to operate. Cordless vacuum cleaners, known for their lightweight and user-friendly design, are particularly appealing to seniors with limited physical strength or mobility. A report by the World Health Organization in October 2022 indicated that by 2030, one in six people globally is expected to be 60 or older, with projections of 2.1 billion individuals aged 60 and older by 2050. This demographic shift is a significant driver for the cordless vacuum cleaner market.
The high cost of cordless vacuum cleaners poses a potential limitation to market growth. Compared to corded vacuum cleaners, cordless models tend to be more expensive due to advanced technologies. Basic cordless vacuum cleaners may cost around $100, while models with enhanced features can range from $175 or more. Additionally, cordless vacuum cleaners are reported to capture 41% of dust from carpets compared to 70% for corded vacuums, influencing consumer preferences during the forecast period.
Major players in the cordless vacuum cleaners market are increasingly directing their efforts towards the development of technologically advanced products to meet consumer demands. These companies are placing a strong emphasis on manufacturing next-generation vacuum cleaners that incorporate smart and cordless technology, aiming to enhance the overall consumer experience and simplify the cleaning process. Furthermore, the trend of developing smart vacuum cleaners with innovative features such as battery sensing, floor-sensing, and filter-sensing technologies is gaining prominence within the cordless vacuum cleaners market.
As an illustration, Samsung, a South Korea-based electronics corporation, launched the High-performance premium Jet™ Cordless Stick Vacuum Cleaners in India in May 2022. These vacuum cleaners are designed to trap 99.999% of fine dust and allergens. The product features a powerful digital inverter motor optimized for airflow with ultrasonic welded air foil blades, ensuring maximum efficiency. The Samsung JetTM comes equipped with a diverse range of highly efficient motorized brushes, providing various cleaning options tailored to different customer lifestyles, cleaning habits, and floor types.
Major companies operating in the cordless vacuum cleaners market are not only focusing on technological advancements but are also introducing new product categories to cater to larger customer bases, drive more sales, and increase overall revenue. An example of this innovation is evident in Dyson, a UK-based household appliances company, which introduced the Dyson V15s Detect Submarine in September 2023. This marks the first all-in-one wet-and-dry cordless vacuum cleaner. The product stands out with a unique feature-a motorized microfiber roller that effectively picks up spills, stains, and debris. A robust plate collects contaminated water from the wet roller, depositing it into a separate waste-water tray for easy emptying. The Dyson Submarine's wet roller head includes power diversion and mode recognition elements to prevent water from entering the motor. In addition, it illuminates, detangles, and cleans hard floors using hydration, absorption, and extraction technologies, delivering a clean finish without over-saturating surfaces.
Major companies operating in the cordless vacuum cleaners market report are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Panasonic Corporation, Midea Group Co. Ltd., Haier Group Corporation, Xiaomi Inc., LG Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., AB Electrolux, Dyson Ltd., Makita Corporation, Brigii Tech Co. Ltd., SharkNinja Operating LLC, TTI Floor Care North America, Beko PLC, BISSELL Homecare Inc., Taurus Group BV, Oreck Corporation, Miele & Cie. KG, iRobot Corporation, Kent RO Systems Ltd., Glen Dimplex Home Appliance Ltd., Hoover Inc., IPC Tools S.p.A., Neato Robotics Inc., Suzhou Puppy Pet Products Co. Ltd., Grey Technology Ltd.
Asia-Pacific was the largest region in the cordless vacuum cleaners market share in 2023. Western Europe was the second-largest region in the global cordless vacuum cleaners market. The regions covered in the cordless vacuum cleaners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cordless vacuum cleaners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The cordless vacuum cleaners market consists of sales of handheld cordless vacuum cleaners, canister cordless vacuum cleaners, stick cordless vacuum cleaners, and other cordless vacuum cleaners. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cordless Vacuum Cleaners Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cordless vacuum cleaners market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cordless vacuum cleaners ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cordless vacuum cleaners market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.