Vacuum Cleaner Market Size, Share, Growth Analysis, By Application(Industrial, Residential, Commercial), By Distribution Channels(Online, Offline), By Region - Industry Forecast 2024-2031

Vacuum Cleaner Market size was valued at USD 11.67 billion in 2019 and is poised to grow from USD 12.8 billion in 2023 to USD 29.45 billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024-2031).

To develop and provide intelligent, portable, and lightweight vacuum cleaners, market players are making significant investments in research and development operations. For instance, Guandong Joy Intelligent Technology Co., Ltd (LeSheng Smart), a manufacturer of household cleaning appliances, stated in April 2022 that it had successfully completed financing for USD 200 million. The money was put to use for testing, research, and development facilities for cleaning instruments such as car vacuums, sweeping robots, handheld vacuums, and ground cleaning equipment. Furthermore assisting market participants in gaining a competitive edge is the practice of forming strategic relationships with industry vendors. 'Dyson Ltd.', 'AB Electrolux', 'Miele & Cie. KG', 'LG Electronics Inc.', 'Samsung Electronics Co. Ltd.', 'Panasonic Corporation', 'iRobot Corporation', 'SharkNinja Operating LLC', 'Bissell Inc.', 'TTI Floor Care North America', 'SEB S.A.', 'Techtronic Industries Co. Ltd.', 'Stanley Black & Decker, Inc.', 'Koninklijke Philips N.V.', 'Bosch Hausgeräte GmbH', 'Haier Group Corporation', 'Morris Group International, Inc.', 'Nilfisk Group', 'Hoover Candy Group', 'Eureka Forbes Limited'

End users in the residential sectors are primarily focusing on adopting automated products in order to save time and energy. An inclination towards smart home technology is shown with automated cleaners, which is encouraging for Vacuum Cleaner Market expansion. However, conventional building technologies and intelligent homes are now becoming a real possibility and draw thanks to the development of new electronic technologies and their integration with previous systems.

Mopping, UV sterilization of the home's air, security cameras for fire and burglar protection, and intercom services are some of the main uses for a domestic robotic vacuum system. Manufacturers are working on speech recognition technology for their products to hear and comprehend spoken orders. The speech recognition feature may be used in utilized in smart robot vacuums with Wi-Fi capabilities with voice activation incorporated system like Alexa from Amazon. As an illustration, iRobot Corporation has created a Roomba i7+ home vacuum with sophisticated automation and intelligence. Using an Alexa-compatible device, access smart mapping technologies.

Asia Pacific dominated the Vacuum Cleaner Market and accounted for a revenue share of 31.7% in 2021, as China is one of the important markets in this, some of the main reasons influencing the demand for vacuum cleaners in the region include the substantial presence of local businesses, the accessibility of inexpensive goods, and customers' high purchasing power. In emerging nations like India, the demand for vacuum cleaners is being aided by the growing electricity in rural areas and the widespread usage of online sales platforms. For instance, in April 2022, the consumer electronics company Panasonic Holdings Corporation introduced the "MC-YL633," a dry vacuum cleaner for quick cleaning. The vacuum cleaner will be offered for sale across the nation at a competitive price to meet the needs of Indian consumers. It features an 18L dust tank capacity and a high suction power of a 2000W motor.