Research report explores industrial vacuum cleaner market

  • Date:2020-02-28
  • Future Market Insights (FMI), a multinational Vacuum Cleaner Motors market intelligence firm, in its recently released report on the global industrial vacuum cleaners market gives out a comprehensive analysis of demand-supply landscape along with some key actionable insights into the category pricing analysis. 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.

    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 the timeline considered in the scope of the study.MI 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.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.