Industry Background:
Wet vacuum cleaners are electrical appliances with a specific form of cylinder/drum model. They're cleaning devices and designed to clean liquid spills as well as dust. The vacuum cleaners are specifically designed to accommodate wet debris in each indoor and outside area. Wet vacuum cleaners are a lot of flexible and useful than regular vacuum cleaners. As a result of its advanced functions, it's demand for industrial yet as household use. Primarily they were used for exquisite jobs mainly within the industrial sector. However, makers came up with new & compact models of the wet vacuum cleaner with varied sizes for household use. An excellent modification has taken place within the wet vacuum cleaner market because of technological advancements and increasing demand for convenient and time-saving cleaning appliances. Additionally, to this, they are simply available to consumers through cleaning distribution channels. Like hypermarkets/supermarkets, specialty stores, e-commerce.
According to AMA Research, the market for Wet Vacuum Cleaner is expected to register a CAGR of 4.9% during the forecast period to 2027. This growth is primarily driven by The Rise in Disposable Incomes
.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Key Companies in Study | Electrolux Group (Sweden), Panasonic Corporation (Japan), Stanley Black & Decker (United States), Dyson Ltd (United Kingdom), Haier Group (China), Eureka Forbes Lt (India), LG Corporation (South Korea), Oreck Corporation (United States), Royal Philips Electronics (Netherlands) and Samsung (South Korea) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electronic Equipment & Instruments sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Electrolux Group (Sweden), Panasonic Corporation (Japan), Stanley Black & Decker (United States), Dyson Ltd (United Kingdom), Haier Group (China), Eureka Forbes Lt (India), LG Corporation (South Korea), Oreck Corporation (United States), Royal Philips Electronics (Netherlands) and Samsung (South Korea), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 8 July 2021,Electrolux announced the acquisition of La Compagnie du SAV , the leading French independent service provider (ISP) specialising in domestic appliance repair. The acquisition is completely consistent with the Electrolux Group's strategy of providing exceptional experiences to consumers, ensuring they get the most out of their appliances throughout the product's entire life cycle.
On 16th July 2021, Milagrow Robo Tiger 1.0 Robotic Lawn Cleaner Black priced at 79,990 was launched. The wet vacuum cleaner was launched with various new features that attract the customers.The cleaner is demanded more in the commercial sector. This is mainly attributed to rising concerns regarding developing and maintaining hygiene and clean surrounding in the commercial sector as it leads to increased health benefits for their employees. Moreover, a clean workplace boosts the efficiency of the employees. This in turn is increasingly encouraging the commercial sector to use cleaning devices such as wet vacuum cleaners, for keeping their premises clean and hygienic.
Regulatory Insights:
The environmental design regulation establishes minimum standards for the products covered by it. These guidelines are intended to assist relevant stakeholders, such as industry and public authorities, in putting the regulation and its requirements into practise. They also summarise the most important information from the regulation in order to provide SMEs with an introduction to the subject matter and to answer the most frequently asked questions.
Wet Vacuum Cleaner Market Dynamics:
Attributes | Details |
---|
Growth Drivers | - The Rise in Disposable Incomes
- Improved Standard of Living
- An Increase in Health Concerns
|
Influencing Trends | - Raising Concern for Hygiene in Both Residential and Commercial Spaces
|
Restraints | - The High Price of Wet Vacuum Cleaners
|
Road Blocks / Challenges | - Rising Energy Consumption and Electricity Prices
- The Inability of These Devices to Efficiently Clean Complex Structures
|
Gaps & Opportunities | - Newer Innovations and Technological Advancements
|
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Wet Vacuum Cleaner Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the medium utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Wet Vacuum Cleaner Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, SEC filings of Wet Vacuum Cleaner players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wet Vacuum Cleaner Study Sheds Light on
The Wet Vacuum Cleaner Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wet Vacuum Cleaner industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wet Vacuum Cleaner industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.