Electric Motors Market for Household Appliances Research Report - Global Forecast till 2030

Electric Motors Market for Household Appliances Research Report: Information by Type (AC Motors and DC Motors), by Voltage (Up to 50 V, 50 V – 120 V and Above 120 V), by Output Power (Up to 500 W and Above 500 W), by Application (Refrigerator, Ovens, Washing Machine, Vacuum Cleaner, Electric Fan, Dishwasher, Range Hood, Tumble Dryer, Wash Dryer and Freezer) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2030.

ID: MRFR/E&P/6942-CR | October 2019 | Region: Global | 165 pages

Electric Motors Household Appliances Market

Electric Motors Market is expected to reach a final market value worth USD 15.2 billion during the historic forecast period

Segmentation

By Type A.C. motors D.C. motors
By Voltage Up to 50 V 50 v-120 v Above 120 v
By Application Refrigerator Washing Machine Ovens Vaccum Cleaners Dish Washer

Key Players

  • Johnson Electric Holdings Limited
  • EBM-PAPST
  • Nichibo DC Motor
  • Sunonwealth Electric Machine Industry Co.
  • Ltd.
  • 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

Drivers

  • Increase in demand for household appliances
  • Increasing demand for HVAC in the residential sector
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Electric Motors for Household Appliances Market Overview


The market for electric motors for household appliances is likely to grow at a reasonable and substantial rate after suffering the pandemic's impact in 2021-2027. As a result, the global market size was valued at a global market sum of UD 9.6 billion during the historic forecast period in 2019. For the ongoing forecast period ending in 2027, the market is expected to reach a final market value worth USD 15.2 billion. The market is predicted to attain a global CAGR of 5.27% by industry experts and market leaders during the period.


COVID 19 Analysis


During the historic forecast period that ended in 2019, the market was functional to its full potential, and hence, the profit margins and the CAGR growth were promising. However, for the market study conducted for the ongoing forecast period of 2021-2027, the pandemic year of 2020 was the base. However, the advent of the pandemic has not brought anything good for the market functioning or global growth. Due to the pandemic, the health and life of the global market audience are at stake. Hence, they are on the way to altering their way of living and introducing ways that will help them introduce possible changes to their life, especially in the ongoing forecast period that will end in 2027. Also, the market is on the way to searching for alternates that will help them function during the period and hence, increase the chances of the market to grow at a reasonable scale during the forecast period that will be ending in 2027.


The electric motors for household appliances market governments and the prominent players of the market understand the rising need of the market to move to new products and services that will help enhance the needs of the target audience. Also, the rising investment is likely to help the market meet its sustainability and preferential goals for the future.


Market Dynamics



  • Drivers


The electric motors for household appliances market demand for electric vehicles is on the rise in the global market scenario, which will give rise to significant growth opportunities for the global market to dwell upon during the forecast period ending in 2027. Also, the manufacturers are making excellent use of resources to enhance the number of manufactured vehicles that will impact the growth scale of the market positively. Furthermore, automotive is undergoing on a large scale in countries belonging to the APAC region, and the rising demand for consumer electronics in the millennial population of these regions will enhance both the regional and international market for the forecast period between 2021 to 2027.


Also, strict manufacturing & designing standards for increasing their efficiency further require manufacturers to improve effective products. Unfortunately, though, a lack of awareness about their benefits & high initial purchase cost keeps the market from understanding its revolutionary potential. Electric motors present conservation benefits are improving their implementation in E.V.s. These machines support enhancing the efficiency of a device & saving costs connected to the energy consumed.



  • Restraints


Electronic knowledge and mechanical expertise are essential requirements for the smooth running of the market, followed by an enhanced electric motor for household appliances market revenue. However, the lack of skilled professionals to make optimal use of resources and effort is likely to keep the market from growing, as predicted during the forecast period ending in 2027.



  • Technology Analysis


The increased technological advancements and the increasing industrial appliances of these motors are likely to enhance the market chances of growth based on the expert predictions during the forecast period that will be ending in 2027. There has been a surge in the adoption of electric motors for household appliances in HVAC, along with other industries like automotive and appliances regarding consumer electronics. Consumer electronics experience a massive surge in demand due to the lockdown and convenient and entertaining means, especially during the forecast period ending in 2027.



  • Study Objectives


The electric motors for household appliances market report aims to help the market investors and buyers with a deep and qualitative market analysis that is likely to impact their understanding and investment abilities. The report discusses various market factors that will give rise to prominent market dynamics that can make a difference to the electric motors for household appliances market statistics during the forecast period ending in 2027.


The electric motors for household appliances market report also discusses the basis on which the global market has been segmented and the ability held by the market segments to meet the rising needs of the target audience and raise the bar of revenue by the end of the forecast period. The report aims to help understand the foundation and basis of the market.


The electric motors for household appliances market report draws a competitive analysis in the form of a graph amongst the efforts put in by the global market players to help the market reach a considerable global value and compete with the predictions laid by the industry experts and leaders. The report also discusses the doings of the market players in the form of mergers, acquisitions, product line launches, joint ventures, and collaborations on an international scale.


Segment Overview


The rising electric motors for household appliances market share is a result of the propelling functions undertaken by the market segments present in mushrooming regions across the globe during the forecast period. Hence, the market segments have a significant role in enhancing the productive degree of the market, followed by its revenue collection potential during the period. The market segmentation is as follows:


Global Electric Motors for Household Appliances Market, by Type



  • A.C. motors

  • D.C. motors


Global Electric Motors for Household Appliances Market, by Voltage



  • Up to 50 V

  • 50 v-120 v

  • Above 120 v


Global Electric Motors for Household Appliances Marke, by Application



  • Refrigerator

  • Washing Machine

  • Ovens

  • Vaccum Cleaners

  • Dish Washer


Global Electric Motors for Household Appliances Market, by Region



  • North America

  • Europe

  • Asia-Pacific

  • MEA & Africa

  • Latin America


Regional Analysis


Owing to the development of the electric motors for household appliances market trends, the market is functional mainly in 4 major regions, namely North America, the APAC region, the European countries, along the rest of the world (RoW). In addition, the 5th region is LAMEA, which is also showing signs of market development. However, the industry analysts predict that the APAC region will likely attain the highest market CAGR and global market value by the end of the forecast period in 2027.


Competitive Landscape


The electric motors for household appliances market revenue will grow as per the predictions as the market players invest in time, effort, and money. The key market players are as follows:



  • Johnson Electric Holdings Limited (Hong Kong)

  • Toshiba Corporation

  • Panasonic Corporation (Japan)

  • Asmo Corporation Limited

  • Nidec Motor Corporation (Japan)

  • Keli Motor Group Co., Ltd.(China)

  • C.G. Power and Industrial Solutions Limited (India)

  • Dumore Motors (U.S.)

  • NMB (U.S.)

  • Newmotech Co., Ltd (South Korea)

  • Cebi Group (Luxembourg)

  • Diehl Stiftung and Co.K.G. (Germany)

  • Baldor Electric Incorporation

  • Siemens AG

  • Sanhua Aweco (Germany)

  • Brook Crompton UK Limited


Recent Developments


Increasing responsiveness towards environmental changes & the greenhouse effect is expected to shift customers' focus towards electric type, which is expected to bolster the demand during the forecast period.


The Asia Pacific held a significant revenue share in 2019. It is expected to exhibit a maximum CAGR of 9.54 % over the forecast period. This development is attributed to improvements in the agriculture sector and considerable investments in industrialization in countries such as China, India, South Korea, & Australia.


The European & the North American region are witnessing a growing preference for the product. North America commanded approximately 17.75% of the total revenue in 2019. North America is the largest market for premium efficiency motors used in HVAC & industrial applications & electric cars. Development opportunities for the market in Latin America & the MEA & Africa are expected to increase in the forecast period thanks to growing government funding. Increasing demand from the oil & gas industry, rapid expansion in the mining industry, & primary demand for cement through the construction industry are helping the market in these regions.


Intended Audience



  • Consumers

  • Research firms

  • Government agencies

  • Consultants and consultancy companies

  • Producers and manufacturers of motors

  • Motor service and maintenance providers

  • Development companies

  • Exporters and importers

  • Potential market investors


Report Overview


The electric motors for household appliances market report cover a qualitative market study that will help the market investors and buyers make better decisions for the forecast period. The market report covers the potential of the market segments and the rising competition in regional and international markets. The report also discusses the impact of the pandemic and the dynamics on which the market will propel during the forecast period. The report discusses the performance of the prominent market players, too.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 15.2 billion
  CAGR   CAGR of 5.27%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Output Power, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Johnson Electric Holdings Limited (Hong Kong), EBM-PAPST (Germany), Nichibo DC Motor (China), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), Nidec Motor Corporation (Japan), Cebi Group (Luxembourg), Elica S.p.A. (Italy), Newmotech Co., Ltd (South Korea), Diehl Stiftung & Co. KG (Germany), Dumore Motors (US), CG Power and Industrial Solutions Limited (India), NMB (US), Panasonic Corporation (Japan), Keli Motor Group Co., Ltd. (China), and Sanhua Aweco (Germany)
  Key Market Opportunities   Increase in demand for household appliances
  Key Market Drivers

  • Increasing demand for HVAC in the residential sector
  • Increasing the affordability of household appliances


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    Frequently Asked Questions (FAQ) :

    The market is slated to grow in Europe, North America, Asia Pacific, South America and Middle East & Africa during the review period.

    Tumble Dryer, Dishwasher, Vacuum Cleaner, Wash Dryer and Freezer, Electric Fan, Ovens, Refrigerator, Range Hood, Washing Machine, are the applications of electric motors for household appliances.

    APAC is anticipated to hold the largest share in the global market.

    The types of electric motors in the market are AC and DC.

    The market can grow at a rate of 5.27% in the near future.

    The main players in the market are Newmotech Co., Ltd (South Korea), Nichibo DC Motor (China), Keli Motor Group Co., Ltd. (China), Johnson Electric Holdings Limited (Hong Kong), Diehl Stiftung & Co. KG (Germany), Elica S.p.A. (Italy), Nidec Motor Corporation (Japan), EBM-PAPST (Germany), Dumore Motors (US), Cebi Group (Luxembourg), CG Power and Industrial Solutions Limited (India), Panasonic Corporation (Japan), NMB (US), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), Sanhua Aweco (Germany), are the main players in the market.

    The market growth is being induced by the mounting demand for HVAC within the residential sector coupled with the rising affordability of household appliances.