Market Trends of Asia-Pacific Handheld Vacuum Cleaner Industry
Rising Income And Household Expenditure Driving The Market
Asia-Pacific region is emerging as a leader in the global consumption market and is expected to account for half of the global consumption growth over the next decade. Local and regional brands in Asia Pacific are having a major share of consumer electronics. With an increasing per capita income in the region, households are adopting handheld vacuums with smart sensor technology and cordless features, making their cleaning experience more comfortable and effective. Per capita expenditure of private households on household appliances and consumer electronics in China has skyrocketed over the last two years, increasing the share of handheld vacuums in the market as well.
Willingness to buy premium household appliances in Asia Pacific is leading to global players launching their best handheld vacuum appliances in the market within a short interval. In comparison to rural regions, urban spaces of Asia Pacific have a significantly higher demand for home appliances with a higher living standard and income level, creating a positive externality for sales of handheld vacuums.
Increasing Residential Space Driving The Market
The cordless segment of handheld vacuum cleaners is providing households with diversified applications across residential spaces and even for their automobiles. With its energy-efficient technology, cordless handheld vacuum cleaners are helping households to achieve the aim of a sustainable lifestyle. Asia Pacific comprises over half of the global population, with countries like India and China having the largest number of residential spaces, providing ample opportunity for vacuum cleaner manufacturers to increase their sales.
The rising annual population growth rate of Megacities in Asia Pacific is creating demand for technologically advanced cleaning appliances, with Hangzhou in China and Japanese megacities of Tokyo, Nagoya, and Osaka leading the market. Major cities act as a strong magnet for education and employment. They drive demand for multifamily residential & housing space with more people migrating towards cities and increasing the customer base for vacuum manufacturers to increase their sales.
