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Industrial Vacuum Market on the Rise

The global market for industrial vacuum cleaners is expected to reach US$681 million by 2023 with a compounded annual growth rate—or CAGR—of 4.88 percent, according to a new study from market research firm Research and Markets.

The report forecasts stricter hygiene and safety regulations along with rising labor costs in developing countries will fuel demand for industrial vacuums. The study also predicts Europe will be the leading region for the industrial vacuum cleaner market due to its growing automobile and aerospace industries.