The price of high-pressure steam cleaners is forecast to continue rising in the next three years as demand and production costs continue to rise
Los Angeles, California (PRWEB) April 11, 2015
High-pressure steam cleaners have a buyer power score of 3.9 out of 5. According to IBISWorld market research analyst, Jordan Weinstein, "This score reflects a buyer's moderate to strong ability to negotiate lower pricing thanks to the large number of suppliers, the product's widespread availability and the price-competitive nature of the steam cleaner market." IBISWorld estimates that there are more than 3,000 vendors of high-pressure steam cleaners, which provides buyers with a substantial number of options. However, recent demand growth and price fluctuations in key inputs have marginally reduced buyer negotiating power.
In the three years to 2014, the average price of high-pressure steam cleaners has grown slightly due to a rise in demand, specifically from the industrial and consumer sectors. "Both sectors serve as major demand segments for the market, and the recovering economy has propelled both sectors to grow at a steady pace during the three years to 2014," says Weinstein. Growth in these sectors has consequently increased demand for steam cleaners.
Suppliers are anticipated to experience price increases for key inputs, such as aluminum, plastic and steel, over the three years to 2017. As a result, the selling price for steam cleaners will increase slightly as suppliers pass on a portion of their increased input costs to buyers.
Fortunately for buyers, the rise in production costs and higher demand for high-pressure steam cleaners over the next three years will not lead to significant price increases. Buyers benefit from the low market share concentration and high competition among suppliers. The large number of suppliers and low switching costs strengthen competition. Suppliers that drastically raise prices will lose business to vendors that offer the same standardized products at a lower price. Major vendors in the market include W.W. Grainger, Amazon, Daimer Industries and Alkota Cleaning Systems. In addition, low specialization of steam cleaners has led to a wide variety of suppliers that are capable of satisfying specific buyer requirements. These conditions are favorable for buyers and are anticipated to remain unchanged over the three years to 2017. For more information, visit IBISWorld’s High-Pressure Steam Cleaners procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of high-pressure steam cleaners. High-pressure steam cleaners have stainless steel, brass or nylon detail brushes and use steam to clean fabrics and surfaces. Cleaners include both commercial and industrial steam cleaners. This report excludes other cleaning equipment such as pressure washers, cleaning scrapers, pool cleaners, pipe cleaning equipment, water treatment machines and cleaning equipment accessories.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.