Electric Motors Household Appliances Market Overview
Maximize Market Research’s new report on Electric Motors Household Appliances Market 2022-2029, is useful for understanding the market’s competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2021-2029). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Electric Motors Household Appliances market.
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Electric Motors Household Appliances Market Scope
The electric motors household appliances market is expected to experience significant growth during the forecast period. Electric motors are widely used in household appliances, such as refrigerators, washing machines, air conditioners, vacuum cleaners, and other appliances.
The increasing demand for energy-efficient appliances, driven by concerns over climate change and rising energy costs, is one of the key drivers of the electric motors household appliances market. The use of electric motors in household appliances allows for improved energy efficiency, which can reduce energy consumption and lower household energy bills.
Moreover, the growing urbanization and increasing disposable income in emerging economies have led to a rise in demand for household appliances, further driving the growth of the electric motors household appliances market. Additionally, the increasing adoption of smart homes and the Internet of Things (IoT) is expected to boost the market growth as electric motors are widely used in these technologies.
During the projected period, the market for electric motors for household appliances is anticipated to expand at a CAGR of 5.87%. By 2027, the market for household appliances with electric motors is anticipated to be worth US$ Bn.
Segmentation
The product is becoming more and more popular in Europe and North America. Around 17.75% of the total income in 2019 came from North America. During the foreseeable period, a notable CAGR is anticipated. The biggest market for high-efficiency motors used in electric vehicles, industrial applications, and HVAC systems is in North America. Due to rising government financing, market development potential in Latin America, the MEA, and Africa are anticipated to increase during the projection period. The market in these areas is being supported by rising oil and gas demand, strong mining industry growth, and significant cement demand from the construction sector.
- Product Type: The market can be segmented into refrigerators, washing machines, air conditioners, vacuum cleaners, and other household appliances.
- Motor Type: The market can be segmented into AC motors and DC motors. AC motors are commonly used in household appliances such as air conditioners, washing machines, and refrigerators, while DC motors are used in appliances such as vacuum cleaners and power tools.
- Application: The market can be segmented by the application of electric motors in household appliances, such as cooling, heating, cleaning, and others.
- Region: The market can be segmented by regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players
• EBM –PAPST (Germany)
• Nichibo DC Motor (China)
• Elica S.p.A. (Italy)
• Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan)
• Johnson Electric Holdings Limited (Hong Kong)
• Keli Motor Group Co., Ltd.(China)
• Panasonic Corporation (Japan)
• CG Power and Industrial Solutions Limited (India)
• Nidec Motor corporation (Japan)
• Newmotech Co., Ltd (South korea)
• Dumore Motors (U.S)
• NMB (U.S)
• Cebi Group (Luxembourg)
• Sanhua Aweco (Germany)
• Diehl Stiftung and Co.KG (Germany)
• Siemens AG
• Baldor Electric Incorporation
• Asmo Corporation Limited
• Brook Crompton UK Limited
• Toshiba Corporation
Regional Analysis
The global Electric Motors Household Appliances Market’s growth trend is examined in depth throughout the report. It divides the major 5 regions, such as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa, which have global dominance in the Electric Motors Household Appliances market.
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Key Questions answered in the Electric Motors Household Appliances Market Report are:
- What is Electric Motors Household Appliances Market?
- What is the forecast period of the Electric Motors Household Appliances Market?
- What is the competitive scenario of the Electric Motors Household Appliances market?
- Which region held the largest market share in the Electric Motors Household Appliances Market?
- What are the opportunities for the Electric Motors Household Appliances Market?
- What are the restraining factors in the Electric Motors Household Appliances market?
- Who are the key players of the Electric Motors Household Appliances market?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Electric Motors Household Appliances market
- Landscape- Leading key players and other prominent key players.
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