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Small Electrical Appliance Market 2023 - Global Industry Growth Factors, Future Demands, Emerging Trends, Business Prospect And Forecast To 2032
Small Electrical Appliances Market
The Business Research Company's Small Electrical Appliance Global Market Report 2023 identifies increased electrification especially in rural areas as the major driver for the Small Electrical Appliance market's growth in the forecast period. Electrification coupled with the rise in disposable income has boosted the demand for household-type fans. For example, The net disposable income Per capita rose to $1,836.68 during the 2019-2020 period, exhibiting a spike of 6.8% compared to the previous period, with a growth rate of 10.0%.
The global small electrical appliance market size will grow from $133.98 billion in 2022 to $150.64 billion in 2023 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global small electrical appliance market size is expected to grow to $232.29 billion in 2027 at a CAGR of 11.4%.
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Major competitors in the Small Electrical Appliance market are AB Electrolux, Dyson Ltd., Panasonic Corporation, Koninklijke Philips N.V.
A key trend in the Small Electrical Appliance market includes producing energy-efficient products. 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.
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https://www.thebusinessresearchcompany.com/report/small-electrical-appliance-global-market-report
The Small Electrical Appliance market is segmented -
• By Product: Household Type Fans, Household Type Vacuum Cleaners, Other Household Type Small Electric Appliances
• By Application: Home, Commercial
• By Distribution Channel: Supermarket & Hypermarkets, Specialty Stores, E-Commerce, Others Distribution Channel
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Small Electrical Appliance market.
The Business Research Company's "Global Small Electrical Appliance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Small Electrical Appliance Market Include:
1. Executive Summary
2. Small Electrical Appliances Market Characteristics
3. Small Electrical Appliances Market Trends And Strategies
4. Small Electrical Appliances Market - Macro Economic Scenario
5. Small Electrical Appliances Market Size And Growth
………………………………..
26. Africa Small Electrical Appliances Market
27. Small Electrical Appliances Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Small Electrical Appliances Market
29. Small Electrical Appliances Market Future Outlook and Potential Analysis
30. Appendix
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