Electrifying Homes Trends and Innovations in the Household Appliance Electric Motors Market

The electric motor for household appliances market is growing rapidly. According to a recent study report published by Market Research Future (MRFR), the global electric motor for household appliances market is projected to grow at a 5.27% CAGR during the forecast period (2023 – 2032).  

Increasing demand for energy-efficient home appliances provides impetus to the market growth of electric motors for household appliances worldwide.

Along with technology development, the consumption of household appliances is expected to increase in the next few years. 

Considering the rise of EV vehicles initiatives across the globe and the rapid adoption of the latest technology & innovations, there is an increase in demand for motors used in household appliances and the automation market. On the other hand, high research and development costs are key factors projected to restrict market growth.

Also, the recent electrical components shortage is creating considerable volatility in the market demand, preventing optimal use of production capacity. Nevertheless, constantly rising demand for energy-efficient motors in household HVAC applications, machine tools, and power tools would aid the market growth throughout the review period. 

Major Players:

·         Johnson Electric Holdings Limited

·         EBM-PAPST

·         Nichibo DC Motor

·         Sunonwealth Electric Machine Industry

·         Nidec Motor Corporation

·         Cebi Group

·         Elica S.p.A.

·         Newmotech Co.Ltd

·         Diehl Stiftung & Co. KG

·         Dumore Motors

·         CG Power and Industrial Solutions Limited

·         NMB

·         Panasonic Corporation

Global Electric Motor for Household Appliances Market – Segments

The market can be segmented into type, voltage, output power, application, and regions. The type segment is bifurcated into DC motors and AC motors. The voltage segment is bifurcated into up to 50 V, 50 V to 120 V, and above 120 V. The output power segment is bifurcated into up to 500 W and above 500 W. 

The application segment is bifurcated into ovens, refrigerators, washing machines, electric fans, vacuum cleaners, dishwashers, range hoods, tumble dryers, wash dryers, freezers, and others. By regions, the market is sub-segmented into North America, Europe, APAC, and the rest of the world.

Electric Motor for Household Appliances Market – Regional Analysis

Asia Pacific dominates the global electric motor for household appliances market, heading with the home appliance manufacturing industries in the region. The constant setting up and upgrades of the manufacturing sector and the increasing emphasis on adopting energy-efficient home appliances in the region contribute to market revenues. 

Electric Motor for Household Appliances Market – Competitive Analysis

Highly competitive, the Household electric motors market is dependent on sales of home appliances. The market appears fragmented due to several large and small key players accounting for a substantial market share. Well-established players incorporate acquisitions, collaborations, expansions, and product & technology launches to gain a competitive advantage in this market and maintain their market position. 

These players focus on new product development and geographical expansion initiatives. The market is anticipated to witness relentless innovations and the development of new products, eventually resulting in intense competition among the motor manufacturers.

Industry/ Innovation/ Related News:

Oct. 26, 2021 ---Nidec Corp. (Japan), a leading precision electric motor maker, announced that its full-year earnings outlook is increased by 6%, as the company benefited from increased demand from home appliance makers, auto companies, and others.

Also, the company is investing Yen 200 BN to expand production capacity and build a European production hub in Serbia. The addition would enable Nidec to make motors for household appliances.

Related Reports

Well Intervention Market

District Cooling Market

OCTG Market

Battery Management System (BMS) Market

Comments

Post a Comment

Popular posts from this blog

Regional Perspectives Unveiling Opportunities and Challenges in Diesel Engine Markets Worldwide

Introduction Diesel Engines Market  is exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2023 - 2032). Diesel engines have been a cornerstone of modern industrialization and transportation for over a century. Their ruggedness, durability, and high torque output have made them indispensable in a wide range of applications, from massive off-highway machinery to compact small engines powering everyday vehicles. In this blog, we'll explore the world of diesel engines, including off-highway diesel engines, small diesel engines, turbo diesel technology, and marine diesel engines. Off-Highway Diesel Engines Off-highway diesel engines are the workhorses of heavy industry. They power a diverse range of equipment, including construction machinery, agricultural tractors, mining vehicles, and more. Key features of these engines include: Robustness: Off-highway diesel engines are designed to withstand harsh environments and hea...
Read more

Policy and Regulatory Framework Impacting Stationary Energy Storage

Introduction Stationary Energy Storage Market is exhibiting a compound annual growth rate (CAGR) of 6.60% during the forecast period (2023 - 2032). In a world where energy sustainability and reliability are paramount, stationary battery storage systems are emerging as a game-changing technology. These systems, designed to store and release electrical energy when needed, play a pivotal role in ensuring a stable and resilient energy grid. In this blog, we'll explore the exciting realm of stationary battery storage, including its importance, the technologies involved, and how it's revolutionizing the energy landscape. The Significance of Energy Storage Energy storage solutions are essential for addressing the intermittent nature of renewable energy sources, such as wind and solar. Without reliable storage, excess energy generated during periods of high production goes to waste, and the grid can face instability during low-production hours. By providing a means to store...
Read more

Investing in a Greener Future Strategies and Trends in the Carbon Credit Market

Introduction Carbon Offset/Carbon Credit Market exhibiting a compound yearly growth rate (CAGR) of 32.0% during the forecast period (2023 - 2032). As the world grapples with the escalating climate crisis, the concept of carbon credits, carbon offsets, and voluntary carbon offset platforms has gained prominence. These terms may seem complex, but they play a critical role in our collective efforts to combat climate change. In this blog, we will explore the fundamentals of carbon credits, carbon offsets, and the role of voluntary carbon offset platforms in mitigating greenhouse gas emissions. Carbon Credits Carbon credits, also known as carbon allowances or carbon permits, are a tradable unit of measurement representing a reduction of one metric ton of carbon dioxide equivalent (CO2e) emissions. They are a key component of cap-and-trade or emissions trading systems, which are commonly used to regulate and reduce greenhouse gas emissions in various industries. Companies or en...
Read more