Impact of COVID-19 on the Global Industrial Vacuum Cleaner Market
The industrial vacuum cleaner market is substantially affected due to the increasing pandemic situation of COVID-19 across the world. Fluctuating consumer preferences along with behavior due to the changing global pandemic scenario will considerably influence the industrial vacuum cleaner market over the projected timeframe. For instance, in March 2020, the World Health Organization (WHO) announced the Covid-19 as a global pandemic resulting in several countries under lockdown. There is a high probability that the outbreak of coronavirus will have a long-term effect on consumer lifestyle and behavior. It may also result in increased usage of industrial vacuum cleaner owing to the rising awareness of social distancing and the cause for the spread of the virus.
The COVID-19 outbreak is creating economic hardships for enterprises and consumers across the globe. While several companies have maintained continuity plans that were initially meant for natural disasters which has result in high losses. However, other manufacturers are facing the threat of bankruptcy due to the declining demand from consumers, debt obligations, and declining production and revenues. The demand for vacuum cleaner has increased owing to the rising corona infection across the globe. Additionally, there is large adoption of these machines in public places, offices, and service areas. Moreover, increased focus on personal hygiene and care will influence the future demand for cleaning services that will eventually increase the demand for these machines in the industries. Industrial vacuum cleaner systems helps to maintain the overall cleanliness and hygiene of industrial and commercial areas which include shopping malls, airport lounge, and healthcare facilities. However, increasing need for dust-free environment and enhancing functionalities of central vacuum systems across commercial industries are some of the major factors driving the market growth. Moreover, improving hygiene in commercial landscape and increasing adoption of green cleaning technologies will affect the market. However, availability of substitutes and the limited access to certain locations are the factors that are expected to hamper the growth of the global industrial vacuum cleaner market.
Industrial Machinery and Equipment Installation Turnover in 5 European Countries from 2015 to 2019 (In EUR Million)