The Small Electrical Appliance Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Small Electrical Appliance Global Market Report 2024, The small electrical appliance market size has grown rapidly in recent years. It will grow from $147.29 billion in 2023 to $162.32 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to electrification of households, urbanization and convenience, regulatory safety standards, growing trend of smart homes, rising disposable incoThe small electrical appliance market size is expected to see strong growth in the next few years. It will grow to $230.83 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to smart home integration, sustainability and energy efficiency, health and wellness trends, home office and remote work, aging population. Major trends in the forecast period include connectivity and iot, compact and portable designs, voice control, multi-functionality, sustainable materials.
Increased electrification especially in rural areas has contributed to the growth of the small electrical appliances market in the forecast period. Electrification coupled with the rise in disposable income has boosted the demand for household-type fans. For instance, in 2022, according to the Organization for Economic Co-operation and Development, a France-based intergovernmental organization, across the OECD, the average household net adjusted disposable income per capita is $30,490 a year . The rise in disposable income increased the purchasing power of the people which in turn has increased the market for small electrical appliances.
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The small electrical appliance market covered in this report is segmented –
1) By Product: Household Type Fans; Household Type Vacuum Cleaners; Other Household Type Small Electric Appliances
2) By Application: Home; Commercial
3) By Distribution Channel: Supermarket & Hypermarkets; Specialty Stores; E-Commerce; Others Distribution Channel
The small electrical appliance market report table of contents includes:
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