Electric Motors Household Appliances Market Size was valued at USD 11.47 Billion in 2023. The Electric Motors Household Appliances market industry is projected to grow from USD 12.07 Billion in 2024 to USD 17.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2024 - 2032). In the housing industry, consumers have a growing demand for HVAC, and making household appliances more affordable are the key market drivers contributing to market growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The market CAGR for electric motors household appliances is being driven by the rising demand for home appliances for the home, and air conditioning systems have increased in popularity, as has the demand for effective motors that run on electricity. While the electric motor in home appliances does not constitute the costliest element, it is the most important component for every home appliance to perform properly. Electric motors are more efficient, have automated controls, and give greater comfort and safety while using domestic goods. Utilizing motors powered by electricity helps address changing requirements while increasing living standards. As a result, the rising affordability of home appliances is likely to propel the electric motor for the home appliance industry forward.
Furthermore, rising sensitivity to environmental concerns and the greenhouse impact will likely move customers' preferences towards electric vehicles, which will likely increase demand throughout the projection period. The market is more accepting of efficient motorized systems. The need for energy-efficient and better-efficiency goods will increase throughout the projected period. Modern home appliances decrease human work while providing greater home care. Furthermore, such gadgets contribute to lower client power expenditures.
The COVID-19 epidemic significantly influenced the electrical motors for home appliances business, as it has on many other industries. Lockdowns imposed by governments worldwide hindered the production and sale of electric motors. The disruption of the global supply chain and the halting of shipments of raw materials essential for production also impacted the market's growth. Furthermore, changes in consumer purchasing behavior due to economic uncertainty influenced market demand. However, market demand is progressively increasing as diverse commercial and industrial operations return to routine. The progressive reopening of production facilities is projected to boost the market value of electric motors for home goods.
For instance, according to the World Bank, the worldwide economy increased by roughly 4% in 2019 and is expected to rise by 4.6% in 2020-21. Individuals now have a greater amount to spend as their economy grows. Consumers with greater financial resources now want electronic devices for their homes. Thus, it is anticipated that demand for Electric Motors Household Appliances will increase throughout the projected timeframe due to the rising demand for home appliances. Thus, driving the Electric Motors Household Appliances market revenue.
The Electric Motors Household Appliances Market segmentation, based on type, includes AC Motors and DC Motors. The AC motors segment dominated the market, accounting for 35% of market revenue (USD 78.48 Billion) in 2022. AC motors use an alternating current power source to energize groups of alternate coils of electromagnetic energy in the motor, causing rotational motion. They are widely desired in the domestic appliance market due to their compact nature compared to other engine types. As an outcome, there is still a high need for AC motors in this economic sector.
Figure 1: Electric Motors Household Appliances Market, by Type, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Electric Motors Household Appliances Market segmentation, based on Voltages, includes Up to 50 V, 50 V to 120 V, and Above 120 V. The Up to 50 V category generated the highest market revenue of about 46% (USD 5 billion) in 2022. This category includes electric motors in various domestic equipment, including fans, washers’ clothes dryers, and range tops. Motors powered by electricity with voltage ratings of up to 50 V are frequently used as a source of operating power in fans that run on electricity and as additional parts in bigger appliances.
The Electric Motors Household Appliances Market segmentation, based on Application, includes Refrigerators, Washing machines, Ovens, Vacuum cleaners, and dishwashers. The Refrigerator segment dominated the market, accounting for 39% of market revenue (USD 4.3 Billion) in 2022. A refrigerator comprises an insulated compartment and a heating system that transports energy from the refrigerator's inside to the air outside to keep the inside cool. Brushless DC motors are used in refrigerators because they are more trustworthy, efficient, and silent than others.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Electric Motors Household Appliances market area accounts for the second-highest market share, owing to the growing cost of household goods and expanded production and assemblage of electrical motors for these devices to fulfill the needs of consumers to meet the market growth & demand in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Electric Motors Household Appliances Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Electric Motors Household Appliances market is expected to grow quickly during the projected timeframe owing to the region's increased need for gadgets and the equipment's accessibility. Further, the German Electric Motors Household Appliances market holds the largest market share, and the UK Electric Motors Household Appliances market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Electric Motors Household Appliances Market will dominate this market during the projected timeframe. This is due to household sector expansion, increasing per-capita income, and rising consumer appetite for appliances for home use are all expected to add to the APAC market. Moreover, China’s Electric Motors Household Appliances market dominates the market share, and the Indian Electric Motors Household Appliances market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Electric Motors Household Appliances market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Electric Motors Household Appliances industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global Electric Motors Household Appliances industry to benefit customers and capture untapped market share and revenue. The Electric Motors Household Appliances industry has recently offered significant advantages to the Industrial Motors, Pumps, and Control Devices industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Electric Motors Household Appliances market, including Johnson Electric Holdings Limited (Hong Kong), EBM-PAPST (Germany), Nichibo DC Motor (China), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), Nidec Motor Corporation (Japan), Cebi Group (Luxembourg), Elica S.p.A. (Italy), Newmotech Co., Ltd (South Korea), Diehl Stiftung & Co. KG (Germany), Dumore Motors (US), CG Power and Industrial Solutions Limited (India), NMB (US), Panasonic Corporation (Japan), Keli Motor Group Co., Ltd. (China), and Sanhua Aweco (Germany) are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
General Electric Company is a multinational technology & financial services organization. It works in four categories: power, renewable energy, aerospace, and finance. Thomas Alva Edison created the corporation in 1878, and it has its headquarters in Boston, Massachusetts. GE Appliances confirmed proposals to spend 450 million dollars in its huge Kentucky plants to increase production and introduce novel offerings on October 29, 2021.
Siemens is a worldwide powerhouse focused on electricity production and shipping, smart technologies for building and renewable power systems, and manufacturing and manufacturing automation & digitalization. Siemens stated in March 2021 that the Simotics SD motor series versions would now be developed to deliver Superior Efficiency level performance by the requirements of the European ErP Directive. The business also indicated that its electrical motors would be offered in the IE4 spectrum, with power ratings ranging from roughly 3 HP to over 1,300 HP and varied pole designs.
October 2021: GE Appliances confirmed proposals to spend 450 million dollars in its huge Kentucky plants to increase production and introduce novel offerings on October 29, 2021.
April 2021: Turbo Power Systems signed a new collaboration deal with StatconEnergia, an India-based electrical equipment manufacturing organization, in April 2021. The partnership is expected to broaden the two businesses' experience in designing, manufacturing, and selling power electronics solutions for the power, railroad, and defense industries.
March 2021: Siemens stated in March 2021 that the Simotics SD motor series versions would now be developed to deliver Superior Efficiency level performance by the requirements of the European ErP Directive. The business also indicated that its electrical motors would be offered in the IE4 spectrum, with power ratings ranging from roughly 3 HP to over 1,300 HP and varied pole designs.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 11.47 Billion |
| Market Size 2024 | USD 12.07 Billion |
| Market Size 2032 | USD 17.3 Billion |
| Compound Annual Growth Rate (CAGR) | 4.60% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Voltage, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Johnson Electric Holdings Limited (Hong Kong), EBM-PAPST (Germany), Nichibo DC Motor (China), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), Nidec Motor Corporation (Japan), Cebi Group (Luxembourg), Elica S.p.A. (Italy), Newmotech Co., Ltd (South Korea), Diehl Stiftung & Co. KG (Germany), Dumore Motors (US), CG Power and Industrial Solutions Limited (India), NMB (US), Panasonic Corporation (Japan), Keli Motor Group Co., Ltd. (China), and Sanhua Aweco (Germany) |
| Key Market Opportunities | Demand for home appliances is increasing. |
| Key Market Dynamics | In the housing industry, consumers have a growing demand for HVAC. Making household appliances more affordable |
Electric Motors Household Appliances Market Highlights:
Frequently Asked Questions (FAQ) :
The Electric Motors Household Appliances Market size was valued at USD 11.47 Billion in 2023.
The worldwide Electric Motors Household Appliances market is estimated to grow and expand at a CAGR of 4.60% during the forecast period, 2024-2032.
APAC had the largest share of the Electric Motors Household Appliances Market
The key participants in the market are Johnson Electric Holdings Limited (Hong Kong), EBM-PAPST (Germany), Nichibo DC Motor (China), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), Nidec Motor Corporation (Japan), Cebi Group (Luxembourg), Elica S.p.A. (Italy), Newmotech Co., Ltd (South Korea), Diehl Stiftung & Co. KG (Germany), Dumore Motors (US), CG Power and Industrial Solutions Limited (India), NMB (US), Panasonic Corporation (Japan), Keli Motor Group Co., Ltd. (China), and Sanhua Aweco (Germany).
The AC motors category dominated the market in 2022.
Up to 50 V had the largest share in the global market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
