The global cordless power tools market size is expected to reach USD 26.29 billion in 2026, growing at a CAGR of 10.54% during the forecast period.
CHICAGO, ILLINOIS, UNITED STATES, July 8, 2021 /EINPresswire.com/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global cordless vacuum cleaner market report.
The cordless vacuum cleaner market is expected to grow at a CAGR of over 10.39% during the period 2020−2026.
Key Highlights Offered in the Report:
1. The global cordless vacuum cleaner market is expected to witness the highest demand from North America, followed by Europe and APAC.
2. The US, Canada, the UK, and China are the major countries creating demand for cordless vacuum cleaner due to high awareness and acceptance of technically advanced products, high standard of living, and substantial growth in residential sector across countries.
3. Huge production facilities combined with the easy availability of raw materials, China will be a major market for cordless vacuum cleaner, catering mainly to the growing domestic market and export materials, products, and machinery to other regions.
4. Stick based cordless vacuum cleaner is expected to witness highest growth due to increasing demand for light weight and easy to use vacuum cleaners. Moreover, the growing demand for compact homes in countries such as China and India are likely to push the demand for these vacuum cleaners as these are easy to store within smaller space.
5. With a keen eye on the changing market landscape, vendors are incorporating several smart features in cordless vacuum cleaners such as floor sensing, battery sensing, and filter sensing technology to gain competitive advantage.
6. Increased capital investment in developing countries is expected to allow vendors to invest further in plant expansion and upgradation of manufacturing plants.
7. In Q1 and Q2 2020 there was fall in demand for cordless vacuum cleaner from commercial sector including hotels, shopping malls, cinema halls, and others owing to the complete lockdown imposed by the government of various countries. However, as soon as the economy started to see a reviving trend, the demand of cordless vacuum cleaner started rising due to increased safety norms and various other COVID protocols.
Key Offerings:
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by category, product, distribution channel, end-user, and geography
• Competitive Landscape – 9 key vendors and 20 other vendors
Cordless Vacuum Cleaner Market – Segmentation
• The cordless vacuum cleaners, specifically designed for floor cleaning, occupy the market's highest share. For instance, In March 2021, Eufy launched a handstick cordless vacuum cleaner for floor cleaning in India. The growth of residential sectors in developing countries such as China, India, and others is expected to boost cordless vacuum cleaners' demand.
• The rising electricity and labor costs in countries such as Germany, the UK, and others drive the upright vacuum cleaner market. Residential vacuum cleaners are expected to generate high revenue in the upright market. Bagged upright vacuums are very hygienic and enhancing the demand for these products across the globe.
• The online distribution channel in the cordless vacuum cleaner is significantly growing across all regions. Various vendors such as Eufy, Karcher, and others expand their presence to other countries by collaborating with other e-commerce channels in the global cordless vacuum cleaner market.
Cordless Vacuum Cleaner Market by Category
• Floor
• Window and Pool
• Others
Cordless Vacuum Cleaner Market by Product
• Upright
• Canister
• Stick
• Handheld
• Others
Cordless Vacuum Cleaner Market by Distribution Channel
• Online
• Offline
Cordless Vacuum Cleaner Market by End-User
• Household
• Indoor
• Outdoor
• Commercial
• Healthcare
• Shopping Malls
• Retail Stores
• Others
Cordless Vacuum Cleaner Market – Dynamics
Many vendors nowadays are selling cordless vacuum cleaners equipped with HEPA (High Efficiency Particulate Air) filters. This filter helps in trapping tiny particles that are generally missed by normal cordless vacuum cleaners. Particles such as pollen, dust mites, bacteria, fungal spores, and others create a lot of discomfort for allergic people by penetrating the lungs. HEPA filters help in removing 99.70% of these particles, thus making the surroundings clean and hygienic. COVID-19 is proving to be more severe for people with asthma. As a result, they are taking extra care to safeguard themselves from this disease. Lower-middle and low-income countries account for the majority of deaths (more than 79%) due to asthma. Hence, it is expected that in order to protect themselves from this and other breathing-related diseases, the demand for cordless vacuum cleaners with HEPA filters is likely to see growth in demand during the forecast period.
Key Drivers and Trends fueling Market Growth:
• Advent of Smart Vacuum Cleaners
• Increasing Disposable Income and Urbanization
• Rising Single Residential Ownership
• Internet Shaping Purchasing Behavior
Cordless Vacuum Cleaner Market – Geography
North America is the leading market for cordless vacuum cleaners due to the higher standard of living. The majority of the population in this region is professionally engaged, due to which they do not get enough time for cleaning activities. As a result, they are looking for more comfortable and easier options for home cleaning. So, the demand for cordless vacuum cleaners is expected to see growth in this region during the forecast period. In February 2021, there were more than 770,000 new houses sold in the country. The expansion of the residential sector in the US is expected to drive the cordless vacuum cleaner market in the country.
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Cordless Vacuum Cleaner Market by Geography
• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• APAC
• China
• Australia
• Japan
• South Korea
• India
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Turkey
Major Vendors
• Dyson
• Electrolux
• Gtech
• LG
• Midea Group
• Panasonic
• Samsung
• TTI Group
• Whirlpool
Other Prominent Vendors
• Bissell
• Daewoo
• Deerma
• Dreame
• GlenDimplex
• Karcher
• Kent
• Moosoo
• Neato Robotics
• Nilfisk
• Numatic International
• ProTeam
• Puppyoo
• Roidmi
• SharkNinja
• Simplicity
• Tennant
• Tineco
• Tornado
• Vorwerk
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