Electric Motors Market – To Undertake Strapping Growth by 2030| Market Size| Market Report| Forecast 2022-2030
Market Overview
In the research report, Market Research Future (MRFR), emphasizes that the electric motors market for household appliances is expected to grow exponentially, securing a significant market valuation and a healthy CAGR over the review period.
Drivers and Restraints
The aspects fueling the growth of the market for household appliances for electric motors are rising demand for HVAC in the residential sector and growing household appliances' affordability. HVAC systems improve both safety and comfort in residences. The increased demand for HVAC systems in home appliances is projected to raise demand for electric motors in residential-sector HVAC systems. Nevertheless, the selling of electric motors is growing year-on-year with home appliance demand rising. Household appliance demand is expected to lead to appliance industry growth. Companies concentrate on innovations to deliver better low-price products, resulting in aggressive competition among household appliance manufacturers to gain an advantage over their peers.
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Segmental Analysis
- The global electric motors market for household appliances is analyzed based on voltage, type, application, output power, and region.
- The world market is segmented by form into AC engines and DC motors. Through voltage, the global market is segmented into up to 50 V, 50 V – 120 V and above 120 V. Based on their size, the 50 V – 120 V segment contains a wide variety of engines including shaded pole motors and brushless motors. During the forecast era, the segment is likely to experience high growth, mainly due to growing brushless motor applications in home appliances due to their long service life.
- The global market was segmented into up to 500 W and above 500 W depending on the output power. The segment is expected to witness substantial growth over the forecast period, primarily due to increased demand for products with up to 500 W of output power in Asia-Pacific and Middle East & Africa's emerging economies.
- The global electric motors market for household appliances was segmented by application into refrigerator, ovens, washing machine, electric fan, vacuum cleaner, range hood, dishwasher, tumble dryer, laundry dryer, and freezer.
Regional Analysis
The geographical synopsis of the Electric Motors Market share has been conducted in four major regions, comprising Europe, the Asia Pacific, North America, and the rest of the world. Due to the growth of residential sectors, the increase in GDP per capita, and the rise in demand for household appliances, Asia-Pacific is expected to hold a majority of the market share during the forecast period. The rapid growth of the residential sector is expected to raise energy demand in China's household appliances. Since electric motors are important components of household appliances, the demand for electric motors in China will increase with these developments. Residential sector growth, per capita GDP increase and household appliance demand increase are expected to drive the market for household appliances in the electric motors sector in the region. The increase in demand for refrigerators is expected to increase demand for electric motors which in household appliances are an essential component of the refrigerators. Such factors are poised to drive the growth of the Asia-Pacific household appliance market for electric motors over the forecast period.
Competitive Synopsis
- Johnson Electric Holdings Limited (Hong Kong)
- Nichibo DC Motor (China)
- EBM-PAPST (Germany)
- Sunonwealth Electric Machine Industry Co. Ltd. (Taiwan)
- Nidec Motor Corporation (Japan)
- Elica S.p.A. (Italy)
- Newmotech Co. Ltd (South Korea)
- Diehl Stiftung & Co. KG (Germany)
- Cebi Group (Luxembourg)
- Dumore Motors (US)
- NMB (US)
- CG Power and Industrial Solutions Limited (India)
- Panasonic Corporation (Japan)
- Keli Motor Group Co. Ltd. (China)
- Sanhua Aweco (Germany).
Table Of Contents
Executive Summary
1.1 MARKET ATTRACTIVENESS ANALYSIS 19
1.1.1 GLOBAL ELECTRIC MOTORS MARKET FOR HOUSEHOLD APPLIANCES, BY TYPE 20
1.1.2 GLOBAL ELECTRIC MOTORS MARKET FOR HOUSEHOLD APPLIANCES, BY VOLTAGE 21
1.1.3 GLOBAL ELECTRIC MOTORS MARKET FOR HOUSEHOLD APPLIANCES, BY OUTPUT POWER 22
1.1.4 GLOBAL ELECTRIC MOTORS MARKET FOR HOUSEHOLD APPLIANCES, BY APPLICATION 23
1.1.5 GLOBAL ELECTRIC MOTORS MARKET FOR HOUSEHOLD APPLIANCES, BY REGION 24
2 Market Introduction
2.1 DEFINITION 25
2.2 SCOPE OF THE STUDY 25
2.3 RESEARCH OBJECTIVE 25
2.4 MARKET STRUCTURE 26
Continued…
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Report Attribute | Details |
Forecast Period | 2022 - 2030 |
Market Growth value | XX % CAGR |
Revenue forecast in 2022-2030 | USD XX billion |
Base year for estimation | 2021 |
Historical data | 2019 – 2020 |
Unit | USD Billion, CAGR (2021 – 2030) |
Segmentation | By Application, By End-Use, and By Region |
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