Industrial Vacuum Cleaners Market is expected to reach a Strong valuation of US$ 1,648.89 million by 2033
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Industrial Vacuum Cleaners Market is expected to reach a Strong valuation of US$ 1,648.89 million by 2033

Jan 16, 2024

Future Market Insights (FMI), a multinational market intelligence firm, in its recently released report on the global industrial vacuum cleaners market, offers out a comprehensive analysis of the demand-supply landscape at the side of some key unjust insights into the class rating analysis.

The world industrial vacuum cleaners market is calculable at US$ 569.1 Million by 2022 and is predicted to achieve US$ 944.81 Billion by 2028, at a CAGR of 5.2% from 2022 to 2032.

Growing global concern towards occupational safety and health combined with stringency in regulations ensuring the same are the two critical factors likely to push industrial vacuum cleaners sales in the next few years.

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Although, the global industrial vacuum cleaners market is expected to expand at a steady growth rate of approximately 5.1 percent in 2019, it is estimated that post 2023, the global industrial vacuum cleaners market may witness steep fall considering growing overall procurement expenditure arising from import tariff duties on raw materials.

In terms of volume sales, approximately 90,800 Units are likely to be shipped in 2019, representing a relatively moderate CAGR during 2022-2028—the timeline considered in the scope of the study.

While, food & beverage and pharmaceutical industries will remain the two prominent large-scale end-users of industrial vacuum cleaners, demand in construction, metal working, and automotive industries will also grow at a significant rate, in the coming years. Applications of industrial vacuum cleaners in automotive segment are estimated to grow owing to strong demand from Asia Pacific region, as per the report.

Sales May Suffer from Fluctuating Raw Materials Prices

"FMI perceives increasing prices of raw materials such as aluminum and steel as a critical market growth restrainer. Several end-use industries, specifically in developing markets are still dependent on manual cleaning equipment. The estimated cost breakdown of an industrial vacuum cleaner by components indicates that the electric or pneumatic system parts of the operation remains the highest, accounting for approximately 24 percent of the total cost of the product. The high price associated with industrial vacuum cleaners slows down the sales of the equipment. Since, utilization of industrial vacuum cleaners is based on the degree of customization incorporated in the equipment, small and medium industries prefer adopting manual cleaning equipment versus industrial vacuum cleaners", Senior Analyst, Future Market Insights. In addition, the low adoption of industrial vacuum cleaner is mainly attributed to lack of awareness among consumers related to improper disposal of waste generated and high initial cost of the products.

Stringency in Workplace Safety Regulations to Drive Demand

Several workplace regulations demand the installation of industrial vacuum cleaners for a variety of applications—ranging from heavy blast materials, grain handling, pit cleaning to combustible dust collecting. The demand for industrial vacuum cleaners is anticipated to increase given that most deaths and injuries occur in confined work spaces, during cleaning, maintenance, and inspection procedures, as recorded by Occupational Health and Safety Administration (OSHA).

In addition, in compliance with grades of dust classes, companies in the industrial vacuum cleaners landscape are manufacturing products with higher suction capabilities and improved filter designs.

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Design and Technological Innovations to Drive Sales; APEJ to Offer Installation Opportunities

Insights from Segmental Analysis

Competitive Landscape Analysis: In a nutshell, key focus remain on consolidation efforts in the highly competitive industrial vacuum cleaners market, as small and medium sized manufacturers dominate the landscape.

Key segments

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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