Rising Standards of Living & Emphasis on Hygiene Drive the Household Vacuum Cleaners Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) November 12, 2014 -- Follow us on LinkedIn – World population is increasing rapidly, a trend that translates into potential growth in demand for household vacuum cleaners, which are electrical devices that create partial vacuum in order to suck dirt and dust from floors and surfaces. Demand for household vacuum cleaner globally can be closely correlated with the increase in population. Growing global population and the ensuing rise in urban settlements brings to fore the need for effective cleaning solutions. Technologically advanced household vacuum cleaners are being perceived as the most convenient and efficient means to obtain desired cleaning results in an era of busy and rapidly changing consumer lifestyles. Growth in the global population is more skewed towards emerging markets, with Asia alone accounting for a majority of the addition. As a result, growth remains tilted heavily in favor of emerging regions.
The market for vacuum cleaners is more globalized, as compared to laundry and kitchen appliances. A large number of vacuum cleaners available in the market today are manufactured in low-cost developing nations. Growing affluence of the middle-class population is a major factor encouraging people to invest in advanced home appliances to upgrade their lifestyles. Rising awareness regarding benefits of using vacuum cleaners is influencing households to purchase advanced vacuum cleaners to meet their routine cleaning needs.
To withstand competition and price sensitivity of cost wary consumers, manufacturers are focusing on developing low cost yet technologically advanced vacuum cleaning solutions. Especially poised to gain are vacuum cleaners that make use of high efficiency particulate air (HEPA) filtration technology. Vacuum cleaners equipped with standard filters spread dirt and dust in air and are also incapable of trapping fine particles such as pet dander or pollen. Vacuum cleaners fitted with HEPA filters, on the other hand, provide compact and effective cleaning. Shift to bagless vacuum cleaning devices is another noteworthy trend in the market. Consumers are also seeking robotic vacuum cleaners that can automatically perform cleaning tasks with higher efficiency and in lesser time.
As stated by the new market research report on Household Vacuum Cleaners, Europe represents the largest market worldwide in terms of dollar sales. Asia-Pacific ranks as the largest and the fastest growing market in terms of unit sales. The region is projected to grow at a compounded annual rate of 5.6% and 5.0% in terms of value and unit sales respectively, driven by rising standards of living, increasing disposable income, growing emphasis on hygiene and increasing need for efficient and quick cleaning solutions.
Major players covered in the report include AB Electrolux, BISSELL, BSH Bosch und Siemens Hausgeräte GmbH, Dongbu Daewoo Electronics Corporation, Dyson Ltd., Emer Vacuums USA, Eureka Forbes Ltd., Groupe SEB, Haier Group, Hitachi Appliances Inc.,iRobot Corporation, Koninklijke Philips NV, LG Electronics, Morphy Richards, Neato Robotics, Panasonic Corporation, Samsung Electronics Co Ltd., Stanley Black & Decker Inc., Techtronic Industries Co Ltd., TTI Floor Care North America, Vax Ltd. and Toshiba Home Appliance, among others.
The research report titled “Household Vacuum Cleaners: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, regulations, issues, challenges, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections in dollars and units terms for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East and Latin America (Argentina, Brazil, Chile, Mexico and Rest of Latin America).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Household_Vacuum_Cleaners_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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