PUBLISHER: The Business Research Company | PRODUCT CODE: 1387994
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387994
“Small Electrical Appliance Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on small electrical appliance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for small electrical appliance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The small electrical appliance market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Small electric appliance manufacturing pertains to the production of semi-portable or portable devices designed for performing specific household tasks on tabletops or countertops.
The primary products in the small electrical appliance category consist of household-type fans, household-type vacuum cleaners, and various other household-type small electric devices. A fan serves as an electrical appliance primarily employed for cooling purposes. These household fans come in different forms, including ceiling fans, table fans, tower fans, wall-mounted fans, pedestal fans, exhaust fans, and misting fans. These small electrical appliances find applications in both residential and commercial settings, and they are made available to consumers through diverse distribution channels such as supermarkets, hypermarkets, specialty stores, e-commerce platforms, and other retail outlets.
The small electrical appliances manufacturing market research report is one of a series of new reports from The Business Research Company that provides small electrical appliances manufacturing market statistics, including small electrical appliances manufacturing industry global market size, regional shares, competitors with small electrical appliances manufacturing market share, detailed small electrical appliances manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the small electrical appliances manufacturing industry. This small electrical appliances manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion witnessed during the historical period can be ascribed to the electrification of households, the process of urbanization, increasing demand for convenience, adherence to regulatory safety standards, the surging trend of smart homes, and the growth in 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 anticipated growth in the forecast period can be linked to factors such as the integration of smart home technologies, a focus on sustainability and energy efficiency, the influence of health and wellness trends, the prevalence of home office and remote work setups, and the impact of an aging population. Notable trends expected during the forecast period encompass increased connectivity and IoT (Internet of Things) integration, compact and portable designs, the adoption of voice control, the incorporation of multi-functionality features, and the use of sustainable materials.
The small electrical appliances market is experiencing growth in the forecast period, thanks to increased electrification, especially in rural areas. This expansion, combined with rising disposable incomes, has driven the demand for household-type fans. For instance, in 2022, the Organization for Economic Co-operation and Development reported that across the OECD, the average household net adjusted disposable income per capita is $30,490 annually. The increased disposable income has enhanced people's purchasing power, contributing to the growth of the small electrical appliances market.
The rapid expansion of the e-commerce industry is expected to be a significant driver of growth in the small electrical appliances market. E-commerce, primarily conducted over the internet, provides consumers with a broader platform to access, compare, and purchase small electrical appliances, thereby fueling industry growth. For example, in September 2022, the International Trade Administration reported that consumer e-commerce accounted for 30% of the UK's overall retail sector, with annual e-commerce revenue exceeding $120 billion. Therefore, the growth of the e-commerce sector is a key factor driving the small electrical appliances market.
The market faces potential constraints due to increased awareness of the adverse effects of high energy consumption and the carbon footprint associated with the use of various small electrical appliances. Factors like growing internet penetration have led to greater awareness about energy consumption, rising energy costs, and the negative environmental impact of household appliances like vacuum cleaners. For instance, in April 2023, the Energy Information Administration noted that the residential sector in the United States used 1.42 trillion kWh of electricity, accounting for 35% of the total electricity consumption. These factors may limit the growth of the small electrical appliances market.
To address these concerns, manufacturers of small electrical appliances are increasingly developing energy-efficient products to reduce carbon footprints and enable energy savings for consumers. The rise in energy-efficient appliances is driven by stringent government regulations on electric home appliances and advancements in technology. Energy-efficient fans, for instance, are designed to minimize energy consumption. Currently, more than 80 countries have established standards and labels for energy-efficient appliances. In the USA, ENERGY STAR-certified ceiling fans, for example, offer cutting-edge design, utilize the latest technology, and are 60% more efficient than traditional ceiling fans.
Major companies in the small electrical appliances sector are focusing on introducing compact appliances, such as the Eon Magnus countertop dishwasher. This compact model, exemplified by Godrej Appliances Ltd.'s Eon Magnus Counter-Top Dishwasher launched in February 2022, caters to smaller families and can efficiently wash dishes for 2-3 member households. Designed for convenient countertop placement, it features an intensive 70°C wash cycle and includes an in-built heater and a self-cleaning program, simplifying maintenance.
In 2021, Electrolux's acquisition of La Compagnie du SAV (CSAV), a prominent French independent service provider specializing in domestic appliance repairs, aligns with Electrolux's strategy of delivering exceptional consumer experiences throughout the product lifecycle. This acquisition strengthens their service network in France, allowing them to meet the growing market demand for after-sales service more effectively.
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
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
The countries covered in the small electrical appliance market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The small electrical appliance manufacturing market consists of sales of bath fans, ceiling fans, desk fans, nu fac floor standing fans, exhaust fans, canister vacuum cleaners, upright vacuum cleaners, central vacuum cleaners, blenders, coffee machines, cutters, electric kettles, mixer grinders, sandwich makers, toasters, vacuum cleaners, and other small electrical appliances. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors turning, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.