The market of steam cleaner is expected to grow at a Compound annual growth rate of 6 percent which is forecasted for 2019 to 2024.
Changing an aspect of the market
Market Growth Enablers
- In the commercial space, the hygiene standards are improved
- More cost-effective option
- From the hospitality industry increase in demand
- The green carpet cleaning method is on the rise.
Market Growth Restraints
- In Emerging Economies Cleaning Standards are low
- Substitutes are easy available
- In Developing Countries manual Labor is low-cost.
- The rise in the use of steam cleaners
- Rental equipment service in demand
- Contract Cleaning Services in demand
Segmentation of the steam cleaner market
- The segmentation is done on the power source, product type, the cleaning method, end-user, geography, and distribution channel. In developed countries, the demand for residential and commercial segments is rising. The steam cleaners market is rising because of its need in like a quick-fix solution for hotels, cafes, restaurants, food stations, and other commercial places.
- This method is adopted because it helps in giving hygienic and chemical-free cleaning methods. At home also the deep cleaning and sanitization of the carpet are increasing. Remodeling and renovation are needed in the residential area.
- The consumers also want products that are eco-friendly and cost-effective cleaning equipment.
- The steam cleaning product rise is in North America with a 36% share and forecast also says that it will have a rise. The rise is because of infrastructure development, lifestyle change, and disposable income is increasing.
The steam cleaners are very effective in cleaning the stains from the hard surface and synthetic fiber along with sanitizing and deep clean the carpet surface. The market is becoming highly competitive which is helpful in improving business opportunities. Moreover, many distributors are selling the product online with the help of online retailers and dealership websites.
Market Segmentation based on Products
Market Segmentation based on Cleaning Method
- Steam Only
- Steam & Vacuum
Market Segmentation based on End-user
- Contract Cleaning
Market Segmentation based on Distribution Method
In 2018, the largest revenue was with North America with a 37% share. The demand in this region is the result of strong economic growth, a rise in construction activity, company expansions, and new business establishment.
Analysis of Key Vendor
The rise in the vendors in the market is also making the competition increase. The improvements in the technology and methods have benefited the users which is why they also prefer getting a hygienic cleaning option. The consumers look for methods that do not have any type of chemical use.