April 14, 2022 19:05 ET | Source: Arizton Advisory and Intelligence Arizton Advisory and Intelligence
Chicago, April 14, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the central vacuum systems market is expected to grow at a CAGR of 10.5%. during 2022-2027. Rapid industrialization, adoption of energy-efficient, and sustainable resource dependence are the major factors that are driving the market growth.
Central Vacuum Systems Market Report Scope
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With the ongoing trend, green technologies are gaining traction in the global market. Several non-residential setups, as well as residential complexes, are incorporating green cleaning technologies that have a minimal impact on the environment. Such cleaning practices promote the use of green-certified non-toxic cleaning agents. Apart from the conventional vacuum, scrubber, and sweepers, steam cleaners have gained traction in several commercial and residential segments and pose tough competition to central vacuum systems. Manufacturers are investing in R&D facilities to produce sustainable cleaning products to provide continuous improvement in customer-centric products. The level of R&D investment by the market vendors is expected to remain high in the future.
Central Vacuum Systems Market Segmentation Analysis
The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. Many international players are expected to expand their reach worldwide during the forecast period. Global vendors are facing intense competition from regional and local vendors as they have strong collaborations with large builders, contractors, and commercial spaces compared to global vendors. However, many international players are expected to broaden their reach, especially in the fast-developing countries of the APAC region, to enhance their market share.
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