(Companies: AB Electrolux, Miele & Cie. KG, Samsung Electronics Co., Ltd., Dyson Ltd., Bissell Inc., iRobot Corporation, Panasonic Corporation, Koninklijke Philips N.V., Haier Group Corporation, and LG Electronics)
The global household vacuum cleaners market was worth $16 billion in 2019. In 2019, North America was the largest region in household vacuum cleaners market.
The household vacuum cleaner manufacturing market consists of sales of vacuum cleaners, which are home appliances used to remove dirt and soil from carpets, floors, and furniture. Residential vacuums are generally designed for aesthetics, usability, and affordability.
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The global household vacuum cleaners market is expected to grow at a rate of about 7.16% and reach $21.1 billion by 2023. The rise in awareness for hygiene contributed to the growth of the household vacuum cleaners market in the historic period. There has been an increase in pathogens and infectious diseases. This has led to an increasing awareness on the importance of maintaining hygiene in care, nursing, and residential areas, which in turn has driven the market for household vacuum cleaners. An increase in awareness for hygiene coupled with the rise in disposable income drove the market for household vacuum cleaners.
However, the rise in awareness about adverse effects of high energy consumption and the carbon footprint associated with the usage of vacuum cleaners is expected to restrain the market in the forecast period.
Household vacuum cleaner manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient vacuum cleaners are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances.
Major players in the market are AB Electrolux, Miele & Cie. KG, Samsung Electronics Co., Ltd., Dyson Ltd., Bissell Inc., iRobot Corporation, Panasonic Corporation, Koninklijke Philips N.V., Haier Group Corporation, and LG Electronics.
LG Electronics Inc. is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea.
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