Asia Pacific Household Vacuum Cleaners Market share was estimated to be over USD 8 billion in 2019 and is expected to grow at a CAGR of around 8% from 2020 to 2026.
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The increasing household disposable income in Asian economies coupled with rising consumer awareness about hygiene & health will drive the Asia Pacific market. For instance, as per the Indian Ministry of Statistics, the per capita income in India increased from USD 1.09 million in 2015 to USD 1.35 million in 2019. Positive economic indicators are generating lucrative growth opportunities for vacuum cleaner manufacturers to enhance their business operations in Asia Pacific. Shifting consumer preferences toward these devices over manual cleaning methods to save efforts & time will augment the industry size by 2026.
The Asia Pacific market witnessed a steady slowdown in the first two quarters of 2020 owing to the escalating spread of Covid-19 pandemic. Manufacturing facilities were temporarily shut during the period from March to June 2020 owing to the restrictions imposed by governments in the region. Vacuum cleaner manufacturers faced a shortage of labor and raw materials, adversely impacting the demand and supply of the machines. However, with gradual leniency in restrictions imposed and steady economic revival, the Asia Pacific market will witness a steady growth.
The rise in the adoption of robotic vacuum cleaners in countries including Japan, South Korea, and China will augment product penetration in the region. Ongoing R&D, innovations, and integration of advanced technologies into the equipment will proliferate the market demand in Asia Pacific. Market players are focusing on introducing new models of technologically upgraded vacuum cleaners to expand their product portfolio. For instance, in October 2018, Panasonic launched MC-RS310 and MC-RS810 robotic vacuum cleaners in Japan. These vacuum cleaners can clean the room with the help of obstacle-detecting sensor lasers, infrared rays, and ultrasonic waves.
The cordless vacuum cleaner segment will witness a significant growth during the forecast timeline. The growth is attributed to the ability of cordless vacuum cleaners to carry out flexible & fast operations. These vacuum cleaners provide convenience and enhanced portability as they are capable of being converted into handheld cleaners. Furthermore, cordless vacuum cleaners offer durable, optimized, and quieter performance, with a battery runtime of nearly 45 minutes. These household vacuum cleaners can also be used for removing pet hair, dirt, and dust from all types of surfaces, supporting the market growth in the Asia Pacific region.
Shifting consumer preferences toward online channels due to a high degree of convenience offered by them will drive the market. Industry players are emphasizing on offering a vast range of products through online sales channels to cater to the growing customer requirements. The positive outlook of the e-commerce industry in countries including China, Japan, and India is proliferating the market statistics. E-commerce companies, such as Ali Baba, Walmart, and Amazon, offer extensive discounts on products to create interest among customers toward online purchase, contributing to the market size.
Key players operating in the Asia Pacific market include Dyson Ltd., Eureka Forbes Ltd, Electrolux Group, LG Electronics, Panasonic Corporation, Samsung Electronics Co., Ltd., iRobot Corporation, Techtronic Industries Co. Ltd., and Toshiba Corporation. These players are focusing on new product launches to enhance their product penetration. For instance, in February 2019, iRobot Corporation introduced its new Roomba i7 vacuum cleaner. The smart vacuum cleaner assists operators to guide the device through voice control.