Steam Cleaner Market by End-user and Geography - Forecast and Analysis 2020-2024

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR45474
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The steam cleaner market size has the potential to grow by USD 308.76 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (commercial and residential) and geography (APAC, Europe, North America, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Alfred Kärcher SE and Co. KG, BISSELL Homecare Inc., Dyson Ltd., Electrolux AB, Eureka Forbes Ltd., HAAN Corp., Koninklijke Philips NV, Stanley Black & Decker Inc., Techtronic Industries Co. Ltd., and Tornado Industries Inc.

Market Overview

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Market Competitive Analysis

The market is fragmented with the presence of major players, and the competition among these players is intense. Alfred Kärcher SE and Co. KG, BISSELL Homecare Inc., and Dyson Ltd. are some of the major market participants. The global vendors are increasing their footprint in the market because of their strong infrastructure and R&D support. On the other hand, regional vendors are finding it increasingly difficult to compete with global vendors in terms of reliability, technology, and price. Although the rising number of smart homes will offer immense growth opportunities, the availability of low-cost manual labor in developing countries will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this steam cleaner market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this steam cleaner market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

 

  • Alfred Kärcher SE and Co. KG
  • BISSELL Homecare Inc.
  • Dyson Ltd.
  • Electrolux AB
  • Eureka Forbes Ltd.
  • HAAN Corp.
  • Koninklijke Philips NV
  • Stanley Black & Decker Inc.
  • Techtronic Industries Co. Ltd.
  • Tornado Industries Inc.

 

Steam Cleaner Market: Segmentation by Geography

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APAC was the largest steam cleaner market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such a high disposable income and purchasing power of the people will significantly drive steam cleaner market growth in this region over the forecast period.

44% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for steam cleaners in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Steam Cleaner Market: Segmentation by End-user

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The growth of business travel that will contribute to the growth of the hospitality industry will drive the demand for steam cleaners worldwide. Therefore, the steam cleaner market share growth by the commercial segment will be significant during the forecast period. Steam cleaners are extensively used in cleaning carpets and garments and helps the industry maintain hygiene. This report provides an accurate prediction of the contribution of all the segments to the growth of the steam cleaner market size.

Steam Cleaner Market: Key Drivers and Trends

The demand for smart homes is rising in developed countries such as the US, the UK, and Germany. The demand for smart homes in Europe is growing mainly due to the increasing focus on deploying renewable energy resources in several countries. Leveraging this trend in the market, vendors are offering multi-purpose floor steam cleaner along with smart steam technology. For instance, HAAN Corp. (HAAN) offers the HAAN multi-purpose floor steamer SI-A70, which uses smart steam technology. Smart homes are expected to grow across developing countries during the forecast period, which will contribute to the growth of the global steam cleaner market during 2020-2024. The market is expected to grow at a CAGR of over 5% during the forecast period.

One of the latest steam cleaner market trends gaining traction is the increasing investment in R&D. Most of the major players in the steam cleaner market are constantly innovating to create better and more efficient products. The new products have room memory, improved battery life, and enhanced efficiency in steam cleaners. Also, the vendors are constantly working to reduce the cost of upgrades and maintenance. Rapid changing technology and customer preferences will positively define the steam cleaner market over the next four years.

 

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Steam Cleaner Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive steam cleaner market growth during the next five years
  • Precise estimation of the steam cleaner market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the steam cleaner industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of steam cleaner market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Commercial - Market size and forecast 2019-2024
  • Residential - Market size and forecast 2019-2024
  • Market opportunity by End-user

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alfred Kärcher SE and Co. KG
  • BISSELL Homecare Inc.
  • Dyson Ltd.
  • Electrolux AB
  • Eureka Forbes Ltd.
  • HAAN Corp.
  • Koninklijke Philips NV
  • Stanley Black & Decker Inc.
  • Techtronic Industries Co. Ltd.
  • Tornado Industries Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The steam cleaner market growth will increase by $308.76 million during 2019-2024.
The steam cleaner market is expected to grow at a CAGR of 5.37% during 2019-2024.
Technavio has segmented the steam cleaner market by end user (Commercial and Residential) and geographic (APAC, Europe, North America, MEA, and South America).
Alfred Kärcher SE and Co. KG, BISSELL Homecare Inc., Dyson Ltd., Electrolux AB, Eureka Forbes Ltd., HAAN Corp., Koninklijke Philips NV, Stanley Black & Decker Inc., Techtronic Industries Co. Ltd., Tornado Industries Inc. are a few of the key vendors in the steam cleaner market.
APAC will register the highest growth rate of 44.30% among the other regions. Therefore, the steam cleaner market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Germany
  • Japan
  • UK
  • South Korea (Republic of Korea)
The key factors driving the steam cleaner market growth are:
  • Rising number of smart homes
The steam cleaner market vendors should focus on grabbing business opportunities from the commercial segment as it accounted for the largest market share in the base year.
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