Market Research Blog

The global industrial vacuum cleaners market is estimated at US$ 569.1 Mn by 2022 and is expected to reach US$ 771.2 Mn by 2028, at a CAGR of 5.2% from 2022 to 2028.

Currently, 20% of the world’s vacuum cleaner market is made up of sales of industrial vacuum cleaners. Over the assessment period of 2022 to 2028, pneumatic industrial vacuum cleaners are anticipated to account for about 50% of the market’s revenue.

In its recently published report on the global industrial vacuum cleaners market, Future Market Insights (FMI), a multinational market intelligence company, provides a thorough analysis of the demand-supply landscape in addition to some significant, immediately applicable insights into the category pricing analysis.

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Growing global concern towards occupational safety and health combined with stringency in regulations ensuring the same are the two critical factors likely to push industrial vacuum cleaners sales in the next few years. Although, the global industrial vacuum cleaners market is expected to expand at a steady growth rate of approximately 5.1 percent in 2019, it is estimated that post 2023.

The global industrial vacuum cleaners market may witness steep fall considering growing overall procurement expenditure arising from import tariff duties on raw materials. In terms of volume sales, approximately 90,800 Units are likely to be shipped in 2019, representing a relatively moderate CAGR during 2022-2028—the timeline considered in the scope of the study.

While, food & beverage and pharmaceutical industries will remain the two prominent large-scale end-users of industrial vacuum cleaners, demand in construction, metal working, and automotive industries will also grow at a significant rate, in the coming years. Applications of industrial vacuum cleaners in automotive segment are estimated to grow owing to strong demand from Asia Pacific region, as per the report.

Sales May Suffer from Fluctuating Raw Materials Prices

“FMI perceives increasing prices of raw materials such as aluminum and steel as a critical market growth restrainer. Several end-use industries, specifically in developing markets are still dependent on manual cleaning equipment. The estimated cost breakdown of an industrial vacuum cleaner by components indicates that the electric or pneumatic system parts of the operation remains the highest, accounting for approximately 24 percent of the total cost of the product. The high price associated with industrial vacuum cleaners slows down the sales of the equipment. Since, utilization of industrial vacuum cleaners is based on the degree of customization incorporated in the equipment, small and medium industries prefer adopting manual cleaning equipment versus industrial vacuum cleaners”, Senior Analyst, Future Market Insights. In addition, the low adoption of industrial vacuum cleaner is mainly attributed to lack of awareness among consumers related to improper disposal of waste generated and high initial cost of the products.

Stringency in Workplace Safety Regulations to Drive Demand

Several workplace regulations demand the installation of industrial vacuum cleaners for a variety of applications—ranging from heavy blast materials, grain handling, pit cleaning to combustible dust collecting. The demand for industrial vacuum cleaners is anticipated to increase given that most deaths and injuries occur in confined work spaces, during cleaning, maintenance, and inspection procedures, as recorded by Occupational Health and Safety Administration (OSHA). In addition, in compliance with grades of dust classes, companies in the industrial vacuum cleaners landscape are manufacturing products with higher suction capabilities and improved filter designs.

Design and Technological Innovations to Drive Sales; APEJ to Offer Installation Opportunities

• Several industrial vacuum cleaners manufacturers are focusing on developing innovative products—in terms of capacity and capability. Ranging from super-sized robot industrial vacuum cleaners for airports, equipped with large-capacity canisters along with multi-brushes and motors to ‘smarter’ variants having cameras and obstacle-detecting sensitive bumpers and sensors using LIDAR (Light Detection and Ranging) and Simultaneous Localization and Mapping (SLAM) technology for effective location tracking—such advancements are predicted to increase the adoption of industrial vacuum cleaners in the coming years.
• Adoption rate of industrial vacuum cleaners is anticipated to remain promising in emerging markets of APEJ, considering shifting of production sites to low-cost facilities. APEJ will remain the most preferred center for global companies to set up manufacturing facilities, translating into faster replacement of manual cleaning equipment. GCC countries, on the other hand, are projected to restrict dependence on oil by equipping the cleaning equipment with IoT sensors.

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Insights from Segmental Analysis

• Based on the current market scenario, canister-type industrial vacuum cleaners will dominate the landscape, with approximately 55 percent market share. Better maneuverability combined with superior capacity and efficiency compared to upright and backpack makes canister-type industrial vacuum cleaners extremely versatile and capable of cleaning numerous surfaces. However, FMI foresees growing demand for the other two variants, specifically in smaller work areas.
• On the basis of mode of operation, although Electric industrial vacuum cleaners will dominate in terms of value and volume sales, with approximately 78 percent market share, Pneumatic mode type is anticipated to represent a promising demand landscape in the coming years, given its simplistic designs and higher efficiency compared to electric variants.
• Portable industrial vacuum cleaners, by system type, will remain at the forefront due to it suitability in tight spaces, versus stationary systems.
• Application of industrial vacuum cleaners for heavy duty cleaning processes will generate maximum revenue, specifically in extensive food & beverage and pharmaceutical applications. Explosion proof segment is estimated to capture around one-third of the total market value by 2028-end.

Competitive Landscape Analysis: In a nutshell, key focus remain on consolidation efforts in the highly competitive industrial vacuum cleaners market, as small and medium sized manufacturers dominate the landscape.

• Tier-1 companies, such as Alfred Kärcher GmbH & Co. KG, Nilfisk, Inc., TTI Floor Care North America, and DELFIN are expected to hold a relatively larger market revenue slice, given the expansive product portfolio and efficient distribution channels.
• Tier-2 companies, on the other hand, hold approximately 33 percent market share, showing string dominance over regional markets. Such companies include, Numatic International Ltd., G. Staehle GmbH u. Co. KG, and Ghibli & Wirbel SpA, among others.
• Key manufactures of industrial vacuum cleaners are projected to focus on price reduction, wider product offering, and long-term distribution partnerships for a stronger local presence.
• Considering substantial revenue opportunities in China, India, and SEAP, manufacturers are likely to aggressively push product in these markets through well-structured and efficient supply chain along with improved retailing network.

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At the time of the assessment, the global pallet pooling market is expected to grow by CAGR 6.1 percent to more than $ 12.9 billion by 2032.  Pallet pooling is preferred by warehouse operators as it saves time and resources associated with repairing, maintaining, and sorting individual pallets. Additionally, by grouping similar types of pallets together, warehouse operators can save on the cost of storing and moving these objects.

This is expected to drive the market in the forthcoming years.Expansion of the manufacturing sector across the globe is boosting the demand for pallet pooling solutions in warehouses.

Market sales of pallet pooling are expected to increase growth amid growing demand for reduced logistics costs. Pavement management solutions provide backlinks for collecting these pallets for reuse at other manufacturers throughout the supply chain. The pallet interface eliminates the need to control pallet distribution, reducing the complexity of purchasing, handling and lifting pallets.

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Technological progress is expected to open up new opportunities for pallet pool market participants. There are a number of pallet organizations that specialize in placing interesting pallets. For example, they could run pallets covered with radio frequency identification (RFID) tags. This concept quickly gained ground thanks to several advantages, such as fast supply chain monitoring.

The global market for cloud based backup services is expected to be worth US$ 3,877.0 million in 2022, rising to US$ 17,550.0 million by 2032. During the forecast period of 2022-2032, the market is expected to grow at a CAGR of 16.3%. Cloud based backup services helps enterprises to back up the data and also help to deliver a copy of data over a public network to an off-site server.

The cloud based backup services plays a vital role in intelligent business continuity policy. Cloud based backup services has several benefits such as security, storage and virtualization which helps organizations to relieve from data security concern associated to cloud computing. The cloud based backup services market is gaining traction rapidly owing to growing demand for big data, social networking and increasing usage data base management solution in enterprise application.

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Cloud Based Backup ServicesMarket: Drivers and Challenges 

The increasing demand to reduce organization IT spending is one of the major factor driving the cloud based backup services market. The cloud based backup solution provides application and infrastructure support to organization at very low cost than on premises storage solutions.

The cloud backup services allows customers to manage several virtualized environment and offers disaster recovery. Improved organizational productivity, stringent security and regulatory policies are another factors which are driving the growth of cloud based backup services in positive manner.

Compliance issues and Latency in data transfer are the major restraints faced by cloud based backup services market.

Cloud Based Backup ServicesMarket: Key Players 

Some of the key players of cloud based backup services market are: CA Technologies, CommVault, EMC, IBM Corp., Microsoft Corp., Symantec,Acronis International, Actifio Technologies, Asigra Inc., Carbonite Inc., Dell Software, FalconStor Software, HP, NetApp, and Veeam Software.

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Cloud Based Backup ServicesMarket: Regional Overview 

Presently, North America is holding largest market share of cloud based back up services owing to increasing competition of public cloud service providers, and enterprise mergers to increase product line and services.

In APAC and EMEA region, the market of cloud based managed services is growing gradually owing to enterprises are developing their IT infrastructure and looking for adopting new technologies in countries like India and China.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on 

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.

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Key Segments Profiled In the Global Cloud based backup services Market

Cloud based backup services market by enterprise:

• Cloud based backup services for small and medium enterprises
• Cloud based backup services for large enterprises

Cloud based backup services market by end-users:

• Cloud based backup services for IT and telecom
• Cloud based backup services for government
• Cloud based backup services for manufacturing
• Cloud based backup services for BFSI
• Cloud based backup services for retail
• Cloud based backup services for others

Cloud based backup services market by region:

• Cloud based backup services market in North America
• Cloud based backup services market in Latin America
• Cloud based backup services market in Eastern Europe
• Cloud based backup services market in Western Europe
• Cloud based backup services market in APAC
• Cloud based backup services market in Japan
• Cloud based backup services market in MEA

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The proliferation of do-it-yourself (DIY) culture owing to the rising labor costs in developed countries such as the UK, U.S., and Germany is anticipated to play a pivotal role in increasing the demand for hand tools. A study by Future Market Insights (FMI) has predicted the global hand tools market to reach  ~US$ 25.6 Bn by the end of 2031, growing at a CAGR of 5.9% over the forecast years (2022-2032).

Hand tools are tools and equipment that do not require electricity to operate. These tools are commonly used in gardening, agriculture, and farming. Because the tools are operated by hand, their application is restricted to specific tasks and abilities. Furthermore, major factors driving the growth of the hand tools market include increased demand from the automotive maintenance and repair sector, as well as technological advancements in hand tool production.

Manufacturers have recognised the importance of regular tool design manipulations, innovations, and the addition of new features. Today’s tools must be robust, provide reliable performance, and be designed in such a way that they meet the needs of the job for which they are chosen.

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Customizations such as extended tips to get into hard-to-reach areas or specially designed joints to make the tools even more user friendly are in high demand. The global sales of hand tools are anticipated to grow at a CAGR of 5.9% during the period of 2022 and 2032.

“The hand tools market has been exhibiting consistent growth, despite temporary lull witnessed amid COVID-19. Factors such as the rapidly growing urbanization in developing economies and the adoption of technologically sound and innovative hand tools have been encouraging market players to focus on innovations. Moreover, increase in practice of DIY activities is expected to create positive prospects for hand tools market growth over the forecast period,” said a lead analyst at FMI.

According to FMI, the market for hand tools is growing primarily due to the versatile features of hand tools such as the reduced size of the tool kit, maintenance & weight, and the increasing preference for multiple tools for multiple applications across various industries. Increasing customer preference towards DIY activities to surge the hand tools market globally.

Furthermore, the high cost of auto parts maintenance and repair services has created a desire among customers to perform do-it-yourself activities on their vehicles for short-term maintenance and repair. This has given manufacturers a tremendous opportunity to manufacture hand tools and introduce new and innovative products to the market.

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Because of the large number of small and medium-sized manufacturers in the market, the hand tools market is extremely competitive. Leading manufacturers are increasingly focusing on positioning innovative technologies to design hand tools that will improve the operational efficiency of commercial and industrial facilities. There is a strong emphasis on innovation. Businesses in the hand tool market seek strategic collaborations with regional end-users and distributors in order to meet the growing consumer demand.

Some of the leading players operating in the market are Stanley Black & Decker, Inc., Snap-on Incorporated, IDEAL INDUSTRIES, INC., Apex Tool Group, KLEIN TOOLS INC., Emerson Electric Co., Akar Tools Limited, Channellock, Inc., JK Files (India) Limited, Kennametal Inc., Wera Tools.

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According to a recent market analysis by FMI, sales in the food service equipment market are expected to surpass a valuation of US$ 75.9 Bn in 2032, with demand growing at a 5.6% CAGR.

Rising awareness regarding for hygiene and safety of food and beverages being served in restaurants, along with stringent regulations imposed by regulatory authorities for food safety in commercial kitchens is spurring demand for effective kitchen equipment.

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Equipment such as dishwashers, oil filters, water filters, ventilation-exhaust, and other sanitation items are increasingly being adopted. Growing emphasis on easy-to-clean food processing equipment to save time and costs of maintenance is compelling manufacturers to launch innovative products.

Food processing equipment is required to support the infrastructure of back-end product delivery, cold storage, and logistical chain for raw material supply. Freezers, dryers, and fryers are in high demand to extend the life of the provided item.

Demand for food service equipment is increasing in countries such as Brazil, Russia, India, and China, owing to consumers’ preference for ready-to-eat and convenience foods. This potential has arisen as a result of changing consumer lifestyles, fast-rising disposable income, and improved brand awareness.

“The emergence of cliud kitches in various countries, along with increasing preference for online delivery of fast food is expected to fuel sales in the market over the forecast period,” says an FMI analyst. 

Key Takeaways:

• Based on product type, sales in the cooking equipment segment are projected to account for 32.1% of the total market share in 2022.
• In terms of applications, demand in the quick service restaurants segment will continue gaining traction.

• Sales in the China market are forecast to surge at a 8.1% CAGR through 2032.
• The U.S. will continue dominating the North America food service equipment market, with demand growing at a 6.7% CAGR.
• Germany will emerge as a lucrative pocket, accounting for 20.3% of the Europe food service equipment market share through 2032.

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Who is winning?

Some of the top companies offering equipment are Electrolux Professional, Dover Corporation, Middleby Corporation, Duke Manufactures, Tupperware Hobart Corporation, Ali Group SpA, Panasonic Corporation, Welbit, Rational AG, Libbey Inc., LG Electronics, Robert Bosch, Samsung Electronics, ACP Solution Inc., Philips Electronics, Haier Inc., Illinois Tool Works, and others.

Get Valuable Insights into Food Service Equipment Market

FMI, in its new offering, provides an unbiased analysis of food service equipment presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for equipment based on Product (Food Preparation Equipment, Drink Preparation Equipment, Cooking Equipment, Warming, and Holding Equipment, Refrigerators & Freezers, Dishwashers, Other F & B), By Application (Full Service Restaurants, Quick Service Restaurants, Commercial Canteens) across seven major regions.

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The adoption rate of HPP equipment for cold pasteurisation in F&B industry is one the major parameters based on which the global market size has been calculated. FMI forecasts the global high pressure processing equipment market to witness a CAGR of over 13 % in terms of value and a CAGR of 12.3% in terms of volume between 2016 and 2026. The US$ 133.5 Million HPP equipment market is estimated to create an incremental $ opportunity of over US$ 350.5 Million during the assessment period.

In its latest report, Future Market Insights (FMI) has identified few of the major trends governing the overall market for high pressure processing equipment (HPPE). In brief, rapid adoption of high pressure processing technique among premium juice manufacturers, automation and technological innovation and growing number of HPP tolling service providers are playing a major role in shaping the market trajectories currently.