Market Insights Consumer Household Appliances Small Appliances

Vacuum Cleaners - Armenia

Armenia

The Vacuum_Cleaners segment in Armenia is projected to generate a revenue of US$19.64m in 2024.
It is anticipated to experience an annual growth rate of 4.37% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of US$13,180m in 2024.
In terms of per household revenue, in Armenia is expected to generate US$31.57 in 2024.
Looking ahead, the volume in the Vacuum_Cleaners segment is estimated to reach 118.3k pieces by 2029.
There will be a slight volume growth of 0.1% in 2025.
On average, each household in Armenia is projected to have a volume of 0.19pieces in the Vacuum_Cleaners segment in 2024.
Armenia's rising middle class is driving demand for high-end vacuum cleaners with advanced features and technologies.

Key regions: Indonesia, Canada, Europe, Worldwide, Japan

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.