The market for carpet extraction cleaners is poised for steady growth, with a projected valuation reaching US$2.668.2 million by 2033. This translates to a solid compound annual growth rate (CAGR) of 4.7% over the forecast period. In 2023, the market is expected to reach a value of US$1.685.6 million, indicating a healthy baseline for future expansion.
Things like more money to spend and cities getting bigger make people want fancy stuff. People’s houses and workplaces are getting fancy things. The look is becoming more important in our homes. Clean carpets are known as important parts in rooms that want to look good.
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The role of carpet extraction cleaners is wider than just sprucing up the interiors of homes. Carpet extraction cleaners are also important devices in keeping homes hygienic. Carpet extraction cleaners are designed to eliminate potentially threatening elements like bacteria, dust mites, toxins, and more.
However, various hurdles are limiting the growth of the carpet extraction cleaner market. Carpet extraction cleaners are a bit pricey, and a sizable consumer base finds it difficult to afford them. Challenges related to raw materials and labor in certain regions affect the manufacturing of carpet extraction cleaners. The viability of carpet extraction cleaners is also a concern for economies that still need development.
“The role of technology in the carpet extraction cleaner market cannot be understated. While stationery carpet extraction cleaners are still popular, portable carpet extraction cleaners are gaining popularity. The technological advancements are set to propel the carpet extraction cleaner market forward,” Opines Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Key Takeaways from the Carpet Extraction Cleaner Market
- The carpet extraction cleaner market is forecasted to reach a valuation of US$ 2,668.2 million by 2033.
- Upright carpet extraction cleaners are the leaders in the product type segment, expected to contribute to 58% of the market share in 2023.
- Batteries are the most common power source for carpet extraction cleaners, projected to make up 37.9% of the market share in 2023.
- The United States dominates the carpet extraction cleaner market and is expected to account for an empathetic 40.1% market share in 2023.
- Europe is also a lucrative region for the carpet extraction cleaner market. The United Kingdom and Germany are anticipated to account for 6.3% and 6.0% of the market share, respectively, in 2023.
- Another rapidly growing region is the Asia Pacific. China and Japan are predicted to contribute 6.8% and 5.5% of the market share, respectively, in 2023.
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Competition Analysis of the Carpet Extraction Cleaner Market
The industry is subject to upheaval as there are mergers and acquisitions at a constant rate. Technology is one of the key focuses of the manufacturers in the carpet extraction cleaner market. Some prominent companies in the market are Windsor Kärcher Group, RCM SPA, Hako Holding GmbH & Co. KG, and Alfred Kärcher SE & Co. KG.
Recent Developments
In August 2023, Dyson Limited launched a device that functions as a vacuum and carpet cleaner. The Dyson V12s Detect Slim Submarine is intended to take care of wet and dry substances on the carpet.
In January 2023, Vax UK Ltd introduced the VAX Platinum SmartWash Pet-Design carpet washer. It aims to keep the carpet as clean as possible.
In September 2023, SharkNinja launched a device to remove bacteria from carpets. The HydroVac comes equipped with antimicrobial chemicals that help remove bacteria and odors from carpets.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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