Dust Extractors Market Forecast Hit by Coronavirus Outbreak, Downside Risks Continue to Escalate
VALLEY COTTAGE, N.Y. – Global sales of dust extractors exceeded the revenues worth US$ 1 billion in 2018, which are projected to witness an average Y-o-Y growth of around 6%, in 2019 and ahead. As envisaged by a new research intelligence outlook of Future Market Insights (FMI), dust extractors will enjoy significant gains in the low dust class, accounting for a substantial incremental opportunity over the course of coming years.
While adoption of dust extractors in medium dust class will retain a dominant share over that in the low dust class in the long run, the latter is highly likely to outpace former owing to the impressive growth of commercial building sector. Sales are likely to experience a considerable hike in the forthcoming years, as the demand from major end-use sectors, particularly commercial building and offices, is on a constant rise.
Construction sites, though envisaged to remain key demand generator in the dust extractor space, will be closely trailed by the wood working segment. The report positions wood working applications of dust extractors market as an important demand contributor to the market and projects a healthy rate of growth for the dust extractor demand in wood working segment.
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DYI Applications Boosting Potential of Online Sales Channels
Growing number of projects in the commercial space construction landscape will remain a significant booster for the demand growth of dust extractors at a global level. Moreover, noteworthy increase in the number of DIY applications, strongly backed by flourishing online retail channels, has been cited in the report as important factors impacting the growth of dust extractor market in years to come. The report has attributed growth of DIY applications segment to the progress of home improvement industry, observed in the recent past.
In the light of success registered by leading online distributors of DIY vacuum cleaners such as Amazon, EBay, Alibaba, and ShopClues among others, a number of organizations are strategizing their entry to the E-commerce space. The report projects that power tools sales are likely to emerge as a popular strategy among players, which are stepping in the online retail world for DYI vacuum cleaner sales. Growing consumer preference for online channels while shopping DIY application tools is instrumenting accelerated online sales of dust extractors, as per the report findings. However, high price point associated with high-capacity vacuum cleaners will continue to restrain the accelerated growth of dust extractor market in the long run.
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In line with the potential competitive edge offered by dust extractor models with compact dimensional design and light weight, key manufacturers are following the growing trend of high R&D investments in innovative product launches.
Japan to Rise as the Industry’s Manufacturing Hub
Europe is envisaged to emerge as a highly profitable region for the prominent consumers of dust extractors, towards the end of the forecast period. Currently, the US and Germany represent the most prominent countries generating significant demand for dust extractors, subsequently benefiting the markets in North America and Western Europe, respectively.
According to the report, the demand for dust extractors in developed regions will continue to be favorably influenced by the stringent regulatory framework of regional governments regarding the usage of vacuum cleaners.
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Furthermore, Japan is also anticipated to be a lucrative regional market for dust extractors, in terms of value and volume. FMI’s analysis also depicts that Japan is currently reflecting the potential to develop into the new manufacturing hub. MEA is also projected to remain a prominent regional market for dust extractor sales, which has been primarily attributed to the robust growth of key end-use sectors across the region.
Dust Extractor Market: Vendor Landscape
The dust extractor market is largely fragmented, as a result of the strong presence of a large number of local and established players. The report provides details of some of the key players in the global dust extractor market, such as Milwaukee Tool, Alfred Kärcher SE & Co. KG, Makitra Corporation, Hilti Group, Robert Bosch GmbH, DeWalt (acquired by Stanley), Metabowerke GmbH, Panasonic Corporation, Nilfisk Inc., Tennant Company, Numatic International Ltd., Electrostar GmbH (Starmix), Bisell Inc., Fiorentini / Clemas & Co., Verimark (Pty) Ltd., and C & E Fein GmbH.
For exclusive insights on the current and prospective scenario of the global dust extractor industry, examined between 2019 and 2029
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