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Upright Segment in Household Vacuum Cleaners Market is Projected to Register Gains at Around 4% CAGR by 2024

Author : Ronak Bora | Published Date : 2019-04-10 

Upright household vacuum cleaners market share is expected to register gains at around 4% CAGR. Initial introduction of the product, featuring robustness and affordable costs are the key factors expected to fuel the segment growth. Canister household vacuum cleaners market dominated the industry accounting for over 40% of the business revenue. Relatively lower costs, ease of usability and availability are the prominent factors influencing the high consumer adoption.

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Household Vacuum Cleaners industry is expected to grow at a rate of 4.6% over the period of 2016-2024. Changing urban lifestyles and demand for precise & real time technologies will mainly drive the household vacuum cleaners market over the coming timeframe. Tight schedule and active lifestyle makes time saving mandatory. Dual-earning families and middle income groups will face time-constraints to manage household chores.

Increasing awareness pertaining to time-efficiency, convenience and benefits derived due to vacuum cleaners use is expected to promote household vacuum cleaners market trends over the coming years. Moreover, swift advancements in technology supporting innovations will make it more energy efficient, economical, and user-friendly.

Increasing infrastructural and development activities in Mexico will present opportunistic landscape for the household vacuum cleaners market share, with gains at over 5% till 2024. Improving living standards in China, India, and Mexico have led to increased investments which further supports household vacuum cleaners market growth. Moreover, presence of major industry participants in these regions will enhance aftersales service capabilities.

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North America household vacuum cleaners market is expected to witness a high growth over the next few years on account of rising time constraints for home-based cleaning along with heath & hygiene awareness among consumers. U.S. is expected to contribute significantly towards the regional share.

Asia Pacific household vacuum cleaners industry share worth USD 3.7 billion in 2015, is expected to grow at a CAGR of 5.2% over the coming eight years, owing to its high demand.  India, Japan, and China are predicted to boost the regional revenue.

Market players will try to grow their regional presence and ROI through mergers & acquisitions and product differentiation. They will try to compete in terms of price, product branding, technology, performance, energy consumption and quality. The key industry participants include TTI Floor Care, Oreck, Dyson, Stanley Black & Decker, Panasonic, Samsung, Royal Philips Electronics, Eureka Forbes, Haier Group, iRobot, and LG.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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