泳池清洁机器人行业深度：蓝海扬帆，破局而立

Investment Rating - The report maintains a positive investment rating for the home appliance industry [11] Core Insights - The pool cleaning robot industry is experiencing steady growth, driven by convenience, intelligence, and long-term economic benefits. The penetration rate of pool cleaning robots is significantly increasing, with a notable trend towards cordless products. Domestic companies have established a certain market share due to their strong product, technology, and brand advantages. The report suggests focusing on potential targets with first-mover advantages in the cordless segment [3][9] Industry Scale - The global pool cleaning expenditure has increased from $9 billion in 2019 to $12.9 billion in 2024, with an expected rise to $16.7 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.47% from 2019 to 2024 and approximately 5.30% from 2024 to 2029. The penetration rate of pool cleaning robots is projected to rise from 26.2% in 2024 to 34.2% in 2029 [6][23][31] Competitive Landscape - The pool cleaning robot market is currently dominated by traditional overseas leaders, with Maytronics and Fluidra holding market shares of 34.8% and 18.5% respectively in 2024. In the cordless segment, the competition is more fragmented, with the top five manufacturers being Chinese companies. The report categorizes market players into three groups: traditional leaders, emerging players with advantages in cordless technology, and new entrants [7][45][46] Competitive Factors - The technology path for pool cleaning robots is not yet fully defined, and operational capabilities are fundamental. The complexity of underwater operations requires advanced sensor technologies, with some manufacturers exploring new solutions such as AI and laser radar for navigation. The offline sales channel accounts for about 64% of total sales, with domestic companies like Yuandian Intelligent leading in this area [8][19][40] Investment Suggestions - The report recommends focusing on potential targets with first-mover advantages in the cordless field, as the market for pool cleaning robots is expected to continue growing due to increasing penetration rates and the demand for advanced cleaning solutions [9][19]