Market Forecast By Products (Canister, Robotics, Upright & Others), By Distribution Channel (Online, Offline), By End Users (Industrial, Commercial, Residential), and by Competitive Landscape
|Product Code: ETC004463
|Publication Date: Feb 2023
|Updated Date: Jun 2023
|Product Type: Report
|No. of Pages: 70
|No. of Figures: 35
|No. of Tables: 5
Vietnam vacuum Cleaners Market is expected to experience major growth in the forthcoming years. The rising demand for effective cleaning solutions has led producers to focus on developing advanced products that cater to the various needs of the consumer. The rise of smart vacuum cleaners is one of the latest development in the market. These latest machines are equipped with sensors and artificial intelligence technology and this allows them to work without human intervention. These vacuum cleaners can also be controlled through various mobile applications. There is the emergence of eco-friendly vacuum cleaners which has captured a major share of the market. Consumers are becoming more conscious about the environment. The producers are integrating sustainable materials and also maintaining the quality of the product. The demand for cordless or wireless vacuums has witnessed a major surge in the market. The producers are continuously innovating and developing the products to meet the changing demand of the consumers.
The Vietnam Vacuum Cleaners Market report thoroughly covers the market by product, distribution channel, and end users. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Vietnam Vacuum Cleaners Market is expected to grow in the forecast period mainly due to the economic growth of the country and the rise in awareness about the sustainability of the environment. The rise of the middle class coupled with the emergence of new technologies has also led to the major growth of the market.
According to 6Wresearch, the Vietnam Vacuum Cleaners Market size is likely to register growth during 2020-2026. The rising adoption of work-from-home trends coupled with a shortage of time for cleaning is driving the growth of the market. Increasing disposable income coupled with rising urbanization is accelerating the development of the market. The growing working population especially among women is fuelling the growth of the industry. High disposable income coupled with changing lifestyles is also a key factor for the growth of the market. The increasing awareness about health and hygiene is accelerating the growth of the market. Certain challenges persist in the market. The intense competition from local and international players is one of the significant challenges faced by the market. The inadequate government regulations regarding environmental standards have led to a significant decrease in Vietnam Vacuum Cleaners Market Growth. The quality of the product and after-sale service has also hampered the growth of the market.
The COVID-19 pandemic has had a significant impact on Vietnam Vacuum Cleaners Industry. The pandemic forced people to stay at home and it led to a rise in demand for the products. This significant increase posed a major challenge for producers to meet consumer needs. There was significant disruption in the supply chain caused by the imposition of mandatory lockdowns by the government and the companies were not able to meet the rising demand. The consumers were reluctant to invest in high-quality machinery on account of economic uncertainty in the region.
The future of the Vietnam vacuum cleaners market is expected to be strong and positive on the back of increasing demand from urban households. The growth of the middle class and rising income are accelerating the demand of products such as cordless vacuums and robotic vacuums. In addition, the advancement of technology in products has driven innovation in this domain. Companies are likely to focus on expanding the lines of their products, launching more effective models, and offering reasonable prices. The online sales channels will become a major avenue of distribution to reach a wide number of customers and these factors will impact Vietnam Vacuum Cleaners Market Share.
Based on products, the Vacuum Cleaners Market in Vietnam is segmented into canister vacuum and Robotics. The canister segment is anticipated to grow in the forthcoming years on the back of its preference by consumers from the various strata of society.
According to Ravi Bhandari, Research Head, 6Wresearch, the online segment will significantly witness growth on account of increasing e-commerce platforms in the country. The offline channels also have a substantial share due to the presence of physical stores and retail outlets.
Based on end users, the market is divided into industrial, commercial, and residential. The residential segment is projected to grow on the account of increasing prioritisation of health and hygiene in the residential segment.
Some of the key players in the Vietnam Vacuum Cleaners Market are:
The report offers a comprehensive study of the subsequent market segments:
|1. Executive Summary
|2.1 Report Description
|2.2 Key Highlights of The Report
|2.3 Market Scope & Segmentation
|2.4 Research Methodology
|3. Vietnam Vacuum Cleaners Market Overview
|3.1 Vietnam Country Indicators
|3.2 Vietnam Vacuum Cleaners Market Revenues and Volume 2016-2026F
|3.3 Vietnam Vacuum Cleaners Market Revenue Share, By Products, 2019 & 2026F
|3.4 Vietnam Vacuum Cleaners Market Revenue Share, By Distribution Channel, 2019 & 2026F
|3.5 Vietnam Vacuum Cleaners Market Revenue Share, By End User, 2019 & 2026F
|3.6 Vietnam Vacuum Cleaners Market Revenue Share, By Regions, 2019 & 2026F
|3.7 Vietnam Vacuum Cleaners Market - Industry Life Cycle
|3.8 Vietnam Vacuum Cleaners Market - Porter’s Five Forces
|4. Vietnam Vacuum Cleaners Market Dynamics
|4.1 Impact Analysis
|4.2 Market Drivers
|4.3 Market Restraints
|5. Vietnam Vacuum Cleaners Market Trends
|6. Vietnam Vacuum Cleaners Market Overview, By Products
|6.1 Vietnam Vacuum Cleaners Market Revenues and Volume, By Canister, 2016-2026F
|6.2 Vietnam Vacuum Cleaners Market Revenues and Volume, By Upright, 2016-2026F
|6.3 Vietnam Vacuum Cleaners Market Revenues and Volume, By Robotics, 2016-2026F
|6.4 Vietnam Vacuum Cleaners Market Revenues and Volume, By Others, 2016-2026F
|7. Vietnam Vacuum Cleaners Market Overview, By Distribution Channel
|7.1 Vietnam Vacuum Cleaners Market Revenues and Volume, By Online, 2016-2026F
|7.2 Vietnam Vacuum Cleaners Market Revenues and Volume, By Offline, 2016-2026F
|8. Vietnam Vacuum Cleaners Market Overview, By End User
|8.1 Vietnam Vacuum Cleaners Market Revenues and Volume, By Industrial, 2016-2026F
|8.2 Vietnam Vacuum Cleaners Market Revenues and Volume, By Commercial, 2016-2026F
|8.3 Vietnam Vacuum Cleaners Market Revenues and Volume, By Residential, 2016-2026F
|9. Vietnam Vacuum Cleaners Market - Key Performance Indicators
|10. Vietnam Vacuum Cleaners Market - Opportunity Assessment
|10.1 Vietnam Vacuum Cleaners Market Opportunity Assessment, By Products, 2026F
|10.2 Vietnam Vacuum Cleaners Market Opportunity Assessment, By Distribution Channel, 2026F
|10.3 Vietnam Vacuum Cleaners Market Opportunity Assessment, By End User, 2026F
|11. Vietnam Vacuum Cleaners Market Competitive Landscape
|11.1 Vietnam Vacuum Cleaners Market Revenue Share, By Company
|11.2 Vietnam Vacuum Cleaners Market Competitive Benchmarking, By Operating & Technical Parameters
|12. Company Profiles
|15. Key Recommendations