Electric Motor for Household Appliances Market Scope
The electric motor is used in electrical gadgets like fans, washing machines, juicers, mixers, grinders, etc. Electric motors are highly efficient devices mainly depending on their operation conditions and the size of the motor. Electric motors convert virtually all of their fuel energy into usable power. The purpose of an electric motor is to convert electrical energy into mechanical energy. A home appliance is a machine that assists in household functions such as cooking, cleaning, and food preservation. The electric motors for household appliances market are witnessing rapid revenue growth.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ebm-Papst(Germany), Johnson Electric Holdings Limited (Hong Kong), Nichibo DC Motor (China), Nidec Motor Corporation (Japan), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), CEBI Group (Luxemburg), Newmotech Co., Ltd (South Korea), Elica S.p.A. (Italy), Diehl Stiftung & Co. KG (Germany) and CG Power and Industrial Solutions Limited (India) |
CAGR | % |
Electric Motor for Household Appliances is a lucrative market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that Europe Vendors will contribute to the maximum growth of Global Electric Motor for Household Appliances market throughout the predicted period.
Ebm-Papst(Germany), Johnson Electric Holdings Limited (Hong Kong), Nichibo DC Motor (China), Nidec Motor Corporation (Japan), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), CEBI Group (Luxemburg), Newmotech Co., Ltd (South Korea), Elica S.p.A. (Italy), Diehl Stiftung & Co. KG (Germany) and CG Power and Industrial Solutions Limited (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Dumore Motors (US), MinebeaMitsumi (US), Keli Motor Group Co., Ltd (China), Panasonic Corporation (Japan) and SanhuaAweco (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Electric Motor for Household Appliances market by Type , by Application (Refrigerator, Oven, Washing Machine, Vacuum Cleaner, Electric Fan, Range hood, Tumble Dryer, Wash Dryer and Freezer) and Region with country level break-up.
On the basis of geography, the market of Electric Motor for Household Appliances has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In January 2022, Nidec Corp (Japan), a top producer of precision electric motors, stated that it was entering the robot market as part of its ambitious growth strategy for its businesses involving electric motors for home appliances. Amid a supply shortage, the company is considering producing chips internally and has added robots to its main products in addition to electric vehicle motors.
In February 2021, Infinitum Electric, a manufacturer of silicon stator motors signed an agreement with a leading consumer appliance manufacturer. Under the agreement, Infinitum Electric developed its first IEh Series motor for consumer appliance applications, to support the creation of a smarter, more energy-efficient, cordless vacuum.
A number of laws passed by Congress since the Energy Policy and Conservation Act of 1975 established federal appliance and equipment standards as well as the Department of Energy's (DOE) power to create, alter and put into effect standards.
Influencing Trend:
The increasing integration of energy-efficient motors in household HVAC applications, machine tools, and power tools.
Market Growth Drivers:
HVAC systems are in higher demand in the home market.
Challenges:
Challenges associated with overheating and high temperatures and power surges
Restraints:
The need for maintenance, raises expenses and results in downtime.
Opportunities:
Increase in demand for household appliances
Key Target Audience
Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users, Better mobile apps:, New risk models and Others