RedKey Global Cordless Vacuum Cleaner Market Report 20-25

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Global Cordless Vacuum Market Investment Report

Global Vacuum Cleaner Market Analysis

Global cordless vacuum cleaners market share

According to the research by global market insights, the global cordless vacuum

cleaners market is expected to grow from $19.22 billion in 2020 to $20.78 billion in

2021 at a compound annual growth rate (CAGR) of 8.1%.

The growth is mainly due to the companies resuming their operations and adapting to

the new normal while recovering from the COVID-19 impact, which had earlier led to

restrictive containment measures involving social distancing, remote working, and

the closure of commercial activities that resulted in operational challenges.

The market is expected to reach $26.51 billion in 2025 at a CAGR of 6%. The global

industry shipments are projected to reach 130 million units by 2026.

Source: global market insights

The residential segment dominated the vacuum cleaner market growth in 2020 by

capturing a revenue share of over 48%. The implementation of the WFH model across

regions has confined people to their homes, necessitating the timely management of

daily routine tasks. This has increased the demand for home appliances, especially

cleaning equipment. Furthermore, the rising availability of advanced products, which

can capture the tiniest of impurities efficiently, is driving the market growth in

residential applications.

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Factors driving the cordless vacuum cleaner market growth

Source:www.grandviewresearch.com

The rising household disposable income levels coupled with the increasing consumer

awareness about health & hygiene across the globe will drive the household vacuum

cleaners market growth. Consumers are adopting these devices over manual cleaning to

save their time & efforts in cleaning.

Meanwhile, the increasing adoption of AI and machine vision technologies in electric

home appliances is driving the market growth. These technologies aid cleaning devices

to autonomously detect dust & dirt particles and other obstacles reliably & effectively.

Market share of online vs. offline sales channel

The offline sales channel segment held over 55% of the market share in 2019. The retail

industry is witnessing growth in several countries including Brazil, Germany, and the

U.S. owing to entry of several new local as well as global players in the market.

The online sales channel segment held over 35% of household vacuum cleaners market

revenue share in 2019. The players in the market are offering a wide product range

through online sales channels to enhance their customer base globally.

Consumers prefer online sales channels over offline retailing due to availability of a

large number of offerings at lower market price.

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Source: www.gminsights.com

Market proportion of market retail volume by region

Statista Research Department reveals the market share by regions. The US holds the

largest market share of 32.2%, followed by Western Europe’s 27.5% and Asia-Pacific’s

21.1%. Over the last five years, the Asia-Pacific region has witnessed continuous growth,

mainly in China and Southeast Asian countries.

Source: Statista Research Department

Emerging consumers are promoting the growth of vacuum cleaner market

Statistics shows that cordless vacuum cleaner users aged between 25 to 29 years

constitute the biggest group, followed by 30 to 34 years old users. They, the majority of

which are white collar workers, have stable income. 60% of them are female, and 75%

have WiFi connectivity.

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But different regions have different favored types of vacuum cleaner because of the

varying in lifestyle, decor style, housing size, and consumption level. Upright vacuum

cleaner prevails in North America and Western Europe because of the stronger

suction to clean large and often carpeted houses; but it seems gigantic for small

housings of tile or hardwood flooring in Asia-Pacific and Latin America.

Canister vacuum cleaner is popular in Western Europe and Asia-Pacific for the fair

pricing, but it’s still heavier and more inconvenient than stick vacuum cleaner or robot

vacuum. Many customers of developed countries in, for example, Western Europe and

Oceania have higher disposable income level, and they are gradually turning to vacuum

cleaner and robot vacuum as an alternative. Mid- and high-income consumers in the

Middle East and Africa are turning from manual cleaning tools (like broom and mop) to

canister vacuum cleaner.

Market Competition Analysis

Among numerous brands worldwide, American and Europeans brands are leading

the competition but emerging mid- and high-end brands have an optimistic outlook

Among numerous players worldwide, front runners in the market include Dyson,

Panasonic Corporation, Samsung Group, Stanley Black & Decker, TTI Floor Care, Oreck

Corporation, Bissell, Inc., Phillips, Vax Ltd., and Shark, most of which are American and

European brands.

Leading players in the market are introducing advanced cordless cleaning devices with

powerful battery technology to deliver reliable performance to customers, attributing to

the market size expansion.

But many consumers are hesitant for the high price of cordless vacuum cleaner. With

advancements of technology and improvement of user experience, many emerging midand

high-end brands with high value products like Redkey and Roborock are likely

to claim more and more market share.

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Significantly varied inter-regional permeability rates, low global concentration ratio

and large room for potential penetration ensures great market value

According to Growth with Knowledge, the permeability rate varies significantly in

different regions. The permeability rates are above 90% in North American, Oceania,

Europe. But in Asia-Pacific, Latin America, and Middle East and Africa, due to

development level and lifestyle difference, the number is only 16.8%, 20.8%, and 25.6%.

Economic development and changing lifestyles on the demand side and product

upgrades and brand marketing on the supply side, the permeability rate of vacuum

cleaner will witness considerable growth.

Source:Growth with Knowledge

According Electrolux Global Vacuuming Survey 2013, 26% of the surveyed have 2

vacuum cleaners, 6% surveyed have 3 or more vacuum cleaners.

In Japan where housings are typically small, the market penetration rate is 146

devices/100 houses, which means there’s plenty of room for market growth globally.

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Source: Electrolux Global Vacuuming Survey 2013

Factors that limit market demand

Low battery life of cordless vacuum cleaners is limiting its market demand. Companies

are developing new household vacuum cleaners with long battery life and less power

consuming motors. Additionally, the companies are complying with government energy

regulations to reduce the overall environmental footprints, aiding market growth.

Moreover, the high cost of cordless vacuum cleaners is expected to limit the growth of

the cordless vacuum cleaners market. According to Best Vacuum Guide, the cordless

vacuum cleaners tend to be more expensive when compared with the corded vacuum

cleaners owing to the advanced technology used. For instance, basic cordless vacuum

cleaners costs around $100, whereas models with greater suction and lithium-ion

batteries that offer expanded runtime will generally cost $175 or more.

Furthermore, cordless vacuum cleaners suck up 41% of dust from carpets, compared to

70% for corded vacuums. This scenario is restricting the demand for cordless vacuum

cleaners during the period.

However, the development of smart vacuum cleaners with battery sensing,

floor-sensing, and filter-sensing technologies is a leading trend in the cordless

vacuum cleaners market. For instance, Redkey F10 series released in June, 2021 can

sense the amount of dust and shift suction levels accordingly. It has better cleaning

performance, lower noise, longer battery life and extended service life of the machine.

Investment Advice

No matter the expansion of vacuum cleaner market in 2019, or the trends in channels

and product types, evidences have shown the future of the vacuum cleaner market: tech

advancement and user experience improvement.

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In fact, the lower price of small home appliances means lower cost for buying the wrong

product. And constant tech advancement and user experience improvement make the

cost less likely to happen. The fact that vacuum cleaner has gradually becomes a must in

every household instead of an impulsive purchase and it shows the customer’s trust in

home appliances.

The market has also seen the emerging of some mid- and high-end brands who has both

attractive technologies and pricing. Since the first model manufactured in 2016,

Redkey has been sold to over 10 countries and regions in North America, South America,

Middle East, Southeast Asia and South Asia.

Redkey is oriented towards addressing the keen needs of customers, which leads to the

production of Redkey F10 cordless stick vacuum cleaner. Users survey shows the

difficulty to clean under couches and beds, so Redkey F10 is designed to have a folding

rod to reach under furniture easily.

Redkey is an independent household vacuum cleaner brand whose business covers R&D,

design, manufacturing, retailing and customer services. Its marketing office is based

in Shanghai, and factory in Suzhou. Redkey products have outstanding quality,

impressive cleaning performance and innovative design.

The major breakthrough of the year is Redkey F10 series. In addition to the 400W motor,

140AW strong suction, 23,000pa vacuum, 5 suction levels, dust sensor and big roller, it’s

also quipped with the patented folding design. The cutting edge technologies and

devotion to user-friendly and innovative design guarantee a bright vision of Redkey.

The confidence and courage of Redkey team is delivered through new techs and

products. As the globalization advances, Redkey is also growing rapidly. We expect more

surprises from Redkey in the near future.

*We sincerely invite all companies who share our philosophy to join the ranks of our

worldwide distribution network and let Redkey become your long-term reliable

partner.

Electronic and household appliances are our long-term goals., and we will spare no

effort in support of our distributors with High margin profits, Low MOQ, Short lead

time, etc.

Please contact us at business@redkeyofficial.com to discuss the superb opportunities

Looking forward to hearing from you.

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