Electric Brooms Market

COVID-19 Impact Analysis

• The COVID-19 pandemic ceased the production of various products in the electric brooms industry, which is attributed to the global lockdown. This has hampered the growth of electric brooms market in the years and a similar trend is expected to be seen in the first half of 2022.
• The major demand for electric brooms was previously noticed from giant developed and developing countries, including the U.S., Germany, Italy, UK, India and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for electric brooms.
• Further, potential long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Electric brooms manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
• Electric brooms manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

Increase in disposable income of the public in general and improving living standards in many developing and developed countries is positively influencing the demand and growth of the electric broom market. Moreover, electric brooms are easy to operate and have a low electricity consumption. The feature of quick cleaning of the floors and easy cleaning of carpets as compared to conventional brooms, is boosting their demand, especially in homes. Further, the rise of the elderly population across the world is spurring the demand for electric brooms. However, the high cost of the electric brooms is a restraining factor, hindering the growth of the electric broom market. Contrarily, evolving technology in mobile electric broom products such as self-moving/automatic cleaning equipment, use of the internet of things (IoT), and better battery life is expected to boost the efficiency of the equipment. This is anticipated to create lucrative opportunities for the electric broom market's growth during the forecast period.

Market Trends

• New products that contain improved capabilities are launched by leading market players. They take the necessary steps to improve overall functionality. For instance, in June 2021, Dyson Appliances Limited, the U.K.-based electric broom manufacturer, launched the cord-free Omni-glide stick vacuum cleaner in India. This product features an omnidirectional fluff cleaner head that glides in all directions, making it a versatile product. The product launch has enhanced the product offerings by Dyson in India and will sustain the competition in the electric broom market.
• Similarly, companies in the electric broom market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in August 2018, Shark Ninja, a multinational household appliance brand, announced the merger and acquisition of China-based artificial intelligence and robotics startup company Qfeeltech. This move is anticipated to help SharkNinja modernize its offerings and sustain itself in the market.
• Moreover, business expansion strategies assist in enhancing the geographic footprint of the company and help in gaining significant market share for mobile electric broom products. For instance, in October 2020, Kärcher, a German company which makes a wide range of washers, electric brooms, vacuum cleaners and other cleaning equipment, partnered with Carter Jonas. Kärcher is set to expand its UK operations by adding 12 more Kärcher Centers for distribution over the next four years.
   

Key Benefits of the Report

• This study presents the analytical depiction of the electric brooms industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the electric brooms market share.
• The current market is quantitatively analyzed to highlight the electric brooms market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed electric brooms market analysis based on competitive intensity and how the competition will take shape in coming years.