Vacuum Cleaner Market in Colombia
Market Overview
In 
, the Colombian vacuum cleaner market decreased by -% to $ for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, showed a temperate increase. Over the period under review, the market hit record highs at $ in , and then reduced in the following year.
, the Colombian vacuum cleaner market decreased by -% to $ for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, showed a temperate increase. Over the period under review, the market hit record highs at $ in , and then reduced in the following year.Consumption
After two years of growth, consumption of vacuum cleaners decreased by -% to units in . Over the period under review, the total consumption indicated a noticeable increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, consumption hit record highs at units in , and then dropped in the following year.
The value of the vacuum cleaner market in Colombia shrank to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a tangible increase. Vacuum cleaner consumption peaked at $ in , and then dropped in the following year.
% to units in . Over the period under review, the total consumption indicated a noticeable increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, consumption hit record highs at units in , and then dropped in the following year.The value of the vacuum cleaner market in Colombia shrank to $
in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a tangible increase. Vacuum cleaner consumption peaked at $ in , and then dropped in the following year.Market Forecast
Driven by increasing demand for vacuum cleaners in Colombia, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to units by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Vacuum cleaner market in Colombia consists almost entirely of imported products.
Trade Balance
Colombia remains a net importer of vacuum cleaner; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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