The small electrical appliance global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Small Electrical Appliance Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 income.
The 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.
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Scope Of Small Electrical Appliance Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Small Electrical Appliance Market Overview
Market Drivers –
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.
Market Trends –
Small electrical appliance manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to stringent government regulations on electric home appliances and advances in technology. Energy efficient fans are designed to utilize minimum energy. Currently, over 80 countries have standards and labels for energy-efficient appliances. For example, in the USA, ENERGY STAR-certified ceiling fans provide cutting-edge design, use the latest technology, and are 60% more efficient than conventional ceiling fans.
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
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Regional Insights –
Asia-Pacific was the largest region in the small electrical appliances market in 2023. Western Europe was the second-largest region in the small electrical appliance market. The regions covered in the small electrical appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the small electrical appliance market include Electrolux AB, Dyson Ltd., Panasonic Corporation, Koninklijke Philips N.V., Haier Group Corporation, Midea Group Co. Ltd, Miele & Cie. KG, Samsung Electronics, LG Electronics, BISSELL, Bosch, iRobot Corporation, Hunter Fan Company, Casablanca, Emerson Ceiling Fans, Minka, Monte Carlo, Craftmade, Litex, Fanimation, Kichler, Crompton Greaves, Orient fans, Usha, Havells India, BSH, Newell Brands Inc., Techtronic Industries Co Ltd., Conair Corporation, SharkNinja Operating LLC, Hamilton Beach Brands Holding Company, Black & Decker, Cuisinart, KitchenAid, Oster, Sunbeam Products, Braun, Rowenta, Tefal, Russell Hobbs, Morphy Richards, Groupe SEB, De’Longhi, Kenwood Limited, Hoover, Vax
Table of Contents
1. Executive Summary
2. Small Electrical Appliance Market Report Structure
3. Small Electrical Appliance Market Trends And Strategies
4. Small Electrical Appliance Market – Macro Economic Scenario
5. Small Electrical Appliance Market Size And Growth
…..
27. Small Electrical Appliance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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