Wet Vacuum Cleaner Market Expected to Reach $1.4 billion by 2026 - Allied Market Research

According to a new report published by Allied Market Research titled, “Wet Vacuum Cleaner Market by Product Type, Applicationand Distribution Channel: Global  Opportunity Analysis and Industry Forecast, 2019–2026,” The global wet vacuum cleaner market size was valued at $1.0 billion in 2018, and is projected to reach $1.4 billion by 2026, registering a CAGR of 4.1% from 2019 to 2026.The wired segment was the highest contributor to the market, with $606.8 million in 2018, and is estimated to reach $799.8 million by 2026, at a CAGR of 3.6% during the forecast period.

Wet vacuum cleaners are electrical appliances that are used to collect liquid spills as well as dust and are far more flexible & versatile than the regular vacuum cleaners. The wet vacuum cleaner is a cleaning device that is designed to collect liquid spills as well as dry dust. Wet vacuum cleaners were primarily used for heavy duty jobs majorly in the commercial sector. However, new & compact models of wet vacuum cleaner in various sizes have been designed by manufacturers for domestic use. Moreover, due to advancements in technology and rise in demand for convenient and time-saving cleaning devices, a great change has taken place in the structure and design of the wet vacuum cleaner. Furthermore, they are easily accessible to the consumers through different distribution channels that include hypermarket / supermarket, specialty stores, online stores and others. Thus, this in turn has contributed in driving the growth of the wet vacuum cleaner market in terms of value sales.

The E- commerce segment in the wet vacuum cleaner market is anticipated to be the fastest growing segment during the forecast period. This is attributable to the easy accessibility, heavy discounts & offers on electronic devices by these online platforms, which boosts their adoption in the wet vacuum cleaner market, thus becoming a popular medium for the purchase of wet vacuum cleaners. Moreover, easy availability of different types of wet vacuum cleaners along with the information about the products coupled with the facility of home delivery contribute to the increase in sales of wet vacuum cleaner through online platform. Thus, this in turn is expected to propel the growth of the wet vacuum cleaner market in terms of value sales during the forecast period.

The global demand for wet vacuum cleaner is expected to increase due to rising concern toward hygiene among household as well as commercial sectors, owing to rise in health concern and emphasis on maintaining clean premises in the commercial sectors.

The global wet vacuum cleaner market is segmented into product type, application, distribution channel, and region. On the basis of product type, the market is classified into cordless and wired. By application, it is bifurcated into household and commercial. Depending on distribution channel, wet vacuum cleaner marketis divided into supermarket/hypermarket, specialty store, E-commerce and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings of the Study

• The cordless segment is expected to grow at a CAGR of 4.8% during the forecast period.

• Asia-Pacific regionis anticipated to dominate the wet vacuum cleaner marketgrowth, registering a CAGR of 5.9% during the forecast period.

• North America is projected to exhibit exponential growth throughout 2026, registering aCAGR 3.4% during the forecast period.

• The Specialty store distribution segment is anticipated to dominate the global s wet vacuum cleaner market analysis,with a CAGR of 3.6%during the forecast period.

• The E-commerce segment is estimated to grow at a CAGR of 6.6%during the wet vacuum cleaner market forecast period.

The key players operating in the wet vacuum cleaner industry are Alfred Kärcher SE & Co. KG, Tennant Company, Nilfisk Group, Koninklijke Philips N.V. , AB Electrolux, Tineco Intelligent Technology, Delfins, Bissell Group, Hako Group, and Shop V