Global sales of cleaning appliances are estimated to close in on US$ 15 Bn by the end of 2031, increasing at a CAGR of 10%, mostly driven by developments in the residential sector, which holds more than 65% market share. Increased public awareness about health is driving one of the most defining trends in the cleaning appliance market today. Unlike in the past, when commercial cleaning firms were primarily concerned with appearances, today’s cleaning appliance companies are increasingly concerned with creating healthier indoor environments. When it comes to cleanliness, the cleaning appliance business has seen a significant shift in client expectations.
Furthermore, technological developments in cleaning appliances are gaining traction. The Internet of Things (IoT), often known as connected device technology, is reshaping practically every industry by opening up a new realm of possibilities for enhancing corporate operations and efficiency.
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Key Takeaways from Market Study
- The market is considerably fragmented, resulting in moderate bargaining power for customers. Key players are marking their presence through collaboration with highly advanced technological firms.
- Persistence Market Research identifies North America and Europe as the largest markets for cleaning appliances, with both regions together holding more than 60% market share.
- Direct distribution channels are projected to hold high market share by 2031, at around 53%.
- Residential sector is the most common end user of cleaning appliances, with an estimated market share of around 64% at present.
- Sales of cleaning appliances across China are expected to surge at a CAGR of close to 14% from 2021 to 2031.
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The report underlines ground-breaking insights into the competitive scenario of the cleaning appliances market, along with the highlights of differential strategies used by manufacturers.
Some of the key players identified across the value chain include Panasonic Corporation, General Electric Co. (GE), Whirlpool Corporation, Electrolux AB, Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Robert Bosch GmbH, Honeywell International Inc., LG Electronics, Inc., and Qingdao Haier Co., Ltd., amongst others.
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