Electric Motor for Household Appliances Market Size, Share, and Analysis, By Type (AC Motor and DC Motor), By Voltage (Up to 50V, 50-120V, and Above 120V), By Power Volt (Up to 500W and Above 500W), By Application (Refrigerator, Washing Machine, and Other

Electric Motor for Household Appliances Market Size, Share, and Analysis, By Type (AC Motor and DC Motor), By Voltage (Up to 50V, 50-120V, and Above 120V), By Power Volt (Up to 500W and Above 500W), By Application (Refrigerator, Washing Machine, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2023-2032

PRODUCT OVERVIEW

Electric Motor for Household Appliances Market is expected to grow at a CAGR of 6.7% in the forecast period (2023-2032), with the market size valued at USD 128.95 billion in 2021 and projected to reach USD 262.1 billion by 2032.

Electric motor for household appliances is an efficient equipment designed to power a range of commonly used electronic devices and machines. These motors are known for their energy efficiency and provide smooth functioning of multiple household appliances such as refrigerators, washing machines, vacuum cleaners, and more. Electric motors convert electrical energy into mechanical motion using electromagnetic principles. This provides the necessary force and velocity required to run the household machines. Electric motors come in multiple sizes and provides features like increased durability and noise reduction. Additionally, they have evolved into essential parts of modern home appliances.

MARKET HIGHLIGHTS

Electric motor for household appliances market is expected to reach USD 262.1 billion, growing at a CAGR of 6.7% during the forecast period, owing to an increasing emphasis on energy efficiency and environmental sustainability. Electric motors are preferred by consumers and manufacturers due to their lower energy consumption and carbon footprint. Additionally, the growing number of smart electronic devices has increased the need for efficient electric motors. Technological advancements such as durable and silent motor designs have significantly contributed to the market's expansion. Furthermore, the industry has grown as a result of rising urbanization and greater financial independence.

Electric Motor for Household Appliances Market Segments:

• By Type
• AC Motor
• DC Motor
• By Voltage
• Up to 50V
• 50-120V
• Above 120V
• By Power Output
• Up to 500W
• Above 500W
• By Application
• Refrigerator
• Washing Machine
• Others

MARKET DYNAMICS

Growth Drivers

Affordability of Household Appliances is Driving the Market Growth

Rising Demand for HVAC Systems to Boosts the Electric Motor Market

Restraint

Growing emphasis on environmental sustainability and energy efficiency

Key Players

• Siemens AG
• ABB Ltd
• Nidec Corporation
• Toshiba Corporation
• WEG Electric Corporation
• Johnson Electric Holdings Limited
• LG Electronics Inc.
• Emerson Electric Co.
• Whirlpool Corporation
• Panasonic Corporation
• Midea Group Co., Ltd.
• Regal Beloit Corporation
• Bosch Group
• Danfoss Group
• Franklin Electric Co., Inc.
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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