Press release
Small Electrical Appliance Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Small Electrical Appliance Market Trend
The Business Research Company offers in-depth market insights through Small Electrical Appliance Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main products of small electrical appliances are household-type fans, household-type vacuum cleaners, and other household-type small electric appliances. A fan is an electrical appliance used for cooling. The various types of household fans include ceiling fans, table fans, tower fans, wall-mounted fans, pedestal fans, exhaust fans, and misting fans. The small electrical appliances are used for home, and commercial applications that are distributed through supermarkets and hypermarkets, specialty stores, e-commerce, and another distribution channel.
Major Driver - Rural Electrification And Rising Incomes Drive Growth In The Small Electrical Appliances Market
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.
Competitive Landscape:
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
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Top Trend - Advancing Sustainability Through Energy-Efficient Small Appliances
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Small Electrical Appliance Market Characteristics
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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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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