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A Luxury in Rural; Necessity in Urban, Asia Floor Cleaning market to have 10% Anticipated CAGR: Bonafide Research
Jun, 10
2021

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A Luxury in Rural; Necessity in Urban, Asia Floor Cleaning market to have 10% Anticipated CAGR: Bonafide Research

 

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It is estimated that over 2 Billion people live in the Asian rural area, which is said to be more than the combined population of Latin America & Africa. In a place, where sustenance, security, and health are a question, cleaning equipment seems to be a royal luxury. The research report titled Asia-Pacific Floor Cleaning Equipment Market Outlook, 2026 by Bonafide Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type, based on application, based on countries & major companies.
Rural Asia has made great strides in terms of quality of life improvements in recent decades, which remains much undone still. Even though the region struggles with poverty, it dominates the global floor cleaning equipment market with a value of USD 2.70 Billion in 2015. The market is driven majorly by the rising income and urbanization, added with the reduction in import barriers in many countries has encouraged trade of these products. Rural dwellers face a continuing need for better access to basic infrastructure, especially clean water and sanitation, let alone they worrying to reduce their manual efforts in cleaning their cramped living spaces. Ironically, many of these people are employed in janitor services where they use fully automated equipment to aid the elite population to enjoy a hygienic environment. Dealing with its own misery, the Asia-Pacific region is expected to shine out with an anticipated CAGR of over 10%, noticeably the highest globally.
On one hand, if the market is restricted by the unaffordability of these products, on the other, the mindset of manual cleaning is better than the mechanical ones restricts the market growth. Vacuum cleaner still being an alien concept among the majority of the public, the floor scrubber segment dominated the market, yet showed a decline over the period. With the rise in the demand for high-end products by the high-income group and the incline in the working women segment, the vacuum cleaner segment is expected to have a marginal growth in the market share in the coming period. The advent of electric machines and handles due to technological advancements in mopping systems is also expected to have a warm welcome in the region. The floor sweeper segment through the forecasted period is expected to portray a CAGR of over 18%, expectedly the highest in the region.
While the residential floor cleaning involves more manual cleaning, it contributed to a very small amount of the market. However, with the increase in the women workforce, and distrust of leaving a stranger in charge of cleaning during the absence of the house members and the increasing disposable income among the middle-class people are likely to aid the growth of cleaning equipment used for residential use at over 14% CAGR. With the increasing tourism and foreign franchises coming up, the need for maintaining the standard hygiene practices has been pushing the commercial use of floor cleaning equipment in the region. Increased demand from the hospitality sector, retail industry, and construction industries allowed the segment to grow over a share of 85% in 2015.
Countries with higher productivity and production growth like China, India, Vietnam, and Cambodia also have higher overall economic growth and structural transformation. China is dominating in the Asia-Pacific region due to the availability of low raw material costs and labor costs. Following this, Japan & India account for more than 20% of the regional market share. The outbreak of Covid-19 has highlighted the importance of automotive floor cleaners as the unavailability of domestic help made people switch to modern ways of cleaning and this would act in favor of the industry in the coming years. The prominent companies include Nilfisk Group, Alfred K?rcher GmbH & Co. KG, Amano Co., Diversy, Dyson, EUREKA, iRobot, Miele, Electrolux, etc.