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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