Industrial Vacuum Cleaners Market will reach at a CAGR of 5.3% from 2018 to 2028
Industrial vacuum cleaners are manufactured using materials, such as heavy gauge steel, stainless steel and aluminium. Generally, industrial vacuum cleaners are customised specifically as per the type of application. Manufacturers are focusing on enhancing their production capabilities. That apart, high demand is being witnessed from the automotive industry, which has been pushing the growth of the industrial vacuum cleaners market. Additionally, growing safety regulations in the pharmaceutical industry will also provide a boost to the growth of the industrial vacuum cleaners market.
As a result of all of these factors, the global market for industrial vacuum cleaners is expected to witness significant growth in 2018 and will reach a market value of US$ 460.2 Mn while registering Y-o-Y growth rate of 5.1% as compared to 2017. Furthermore, the global demand for Industrial Vacuum Cleaners will also be influenced by infrastructural developments and rising urbanisation in various regions.
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Recovery in global manufacturing value added is pulling in significant capital investments across the industrial vacuum cleaners market. With the general growth rate of various industrial sectors, such as chemical, pharmaceutical, etc., hovering at a number higher than the overall global economic growth number, new capacity additions for various downstream products at a macro level are expected to come up in the coming years. This, in turn, will support the growth of the industrial vacuum cleaners market across the globe.
On the basis of product type, the canister segment is anticipated to continue to dominate the industrial vacuum cleaners market in terms of value over the forecast period. By mode of operation, the pneumatic segment is anticipated to witness robust growth, in terms of value, over the forecast period
On the basis of system type, the portable segment is anticipated to dominate the industrial vacuum cleaners market in terms of volume and value. This segment accounted for more than three-fourth of the total volume share of the industrial vacuum cleaners market in 2017
On the basis of application type, heavy duty industrial vacuum cleaners are expected to dominate the global industrial vacuum cleaners market during the forecast period and will retain their dominance due to their growing usage in pharmaceuticals, food & beverage and construction industries. On the basis of end-use industry, food & beverage and pharmaceuticals are projected to be the two most dominating segments in the industrial vacuum cleaners during the forecast period
In 2018, Western Europe and North America are estimated to account for nearly 58.6% of the global industrial vacuum cleaners market. Furthermore, being at the forefront of the Industrial Vacuum Cleaners market, North America is pegged to create substantial incremental dollar opportunity of US$ 94.5 Mn during the forecast period.
However, the global industrial vacuum cleaners market is expected to face certain challenges. Shift of OEMs to Asia Pacific to gain competitive edge will restrain the growth of the industrial vacuum cleaners market. Moreover, stagnant installation and lack of consumer awareness about industrial vacuum cleaners are other important factors that will impede the growth of the industrial vacuum cleaners market. Similarly, increasing consumer distrust in North America will also negatively impact the growth of the market of industrial vacuum cleaners market in the region.
Alfred Kärcher GmbH & Co. KG, American Vacuum Company, Nilfisk Group, NUMATIC INTERNATIONAL LTD, Vac-U-Max, Ghibli & Wirbel SpA, Tiger-Vac International Inc., Goodway Technologies Corp., Wieland Lufttechnik GmbH & Co. KG are some of the key players involved in the global Industrial Vacuum Cleaners market.
In terms of market value, the global industrial vacuum cleaners market is anticipated to expand at 5.3% CAGR and create absolute $ opportunity worth US$ 311.0 Mn during the forecast period. Further, India industrial vacuum cleaners market is set to observe robust growth rate due to rapid industrialization in the country, which in turn, will trigger the demand for specialized cleaning equipment, such as industrial vacuum cleaners.
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