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Global industrial vacuum cleaner market to reach US$ 729.9mn by 2027
The global industrial vacuum cleaner market is expected to witness a value and volume Compound Annual Growth Rate of 5.3% and 4.5% respectively during the forecast period, with the market anticipated to reach a market value of US$ 729.9mn by the end of 2027.
Future Market Insights' newly published 'Industrial Vacuum Cleaner Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)', also reviews the global vacuum cleaner market which is the parent market of global industrial vacuum cleaner market, and finds that the industrial vacuum cleaner market accounts for nearly 2.5% to 3.0% of the total vacuum cleaner market and was valued at US$ 415.4 mn by the end of 2016.
North America, followed by Western Europe, are the two dominating regions in the industrial vacuum cleaners market. The North America region is estimated to lose 100 BPS between 2017 and 2027 while expanding at a value CAGR of 5.0%. The Asia Pacific region - excluding Japan and the Middle East & Africa market - are estimated to register substantial growth over the forecast period.
The growth in food and beverage industry is expected to have significant impact on the market over the forecast period, while the growth in the global pharmaceutical industry is expected to have high impact over the next decade.
The growth in global residential construction as well as small scale commercial/ industrial construction are both expected to have medium impact on the market over the forecast period - as is the growth in the global industry, value added.
The growth in the global automotive industry, value added, is expected to have low-medium impact over the forecast period.
The growth in the global GDP is expected to have low-medium impact in the market growth over the forecast period.
The global industrial vacuum cleaner market is segmented into product type, mode of operation, system type, application, and end use. The product type segment includes upright, canister, and backpack segments. On the basis of product type, a drift towards utilisation of upright and backpack segment is expected in the forthcoming years. The upright segment is expected to grab 26.7% revenue share of the global market in the year 2017.
The mode of operation segment consists of electric and pneumatic segments. The electric industrial vacuum cleaner segment is projected to dominate the global market. The segment is estimated to lose 40 BPS between 2017 and 2027 and expand at a value CAGR of 5.2%. Strong demand for pneumatic options is expected because of their fewer moving parts and not so complex design, in comparison. The electric segment, on the other hand, is estimated to gain 40 BPS between 2017 and 2027.
The system type segment includes the portable and stationary equipment sectors. Portable type industrial vacuum cleaners are estimated to dominate the overall market over the forecast period. Portable type industrial vacuum cleaner sales are projected to create incremental $ opportunity worth US$ 225.8 Mn between 2017 and 2027.
The end use segment is divided into food & beverage, pharmaceuticals, construction, metal working, automotive and others. Growth in end use industries such as automotive, pharmaceuticals, metal working and construction consequently, triggers the demand for cleaning equipment such as industrial vacuum cleaners.
The application segment includes, heavy duty, medium duty and explosion proof segments.
The heavy duty industrial vacuum cleaner segment is projected to dominate the global market. The segment is estimated to lose 150 BPS between 2017 and 2027 while expanding at a value CAGR of 5.0%.
The report notes that some of the key players operating in the global industrial vacuum cleaner market are:
Alfred K�rcher GmbH KG, American Vacuum Company, Nederman Holding AB, Nilfisk Group, Pullman Ermator AB, Goodway Technologies, Hako GmbH, Tennant Company, Numatic International, Vac-U-Max, Josef Kranzle GmbH KG, CS Unitec, RGS Vacuum Systems S.R.L, Michael Williams Engineering, Polivac International, Quirepace, Ghibli & Wirbel SpA, Tiger-Vac International, Wieland Lufttechnik GmbH KG, G. Staehle GmbH KG.
28th September 2017