What Fueled The Previous Growth In The Small Electrical Appliance Market?
The small electrical appliance market has seen considerable growth due to a variety of factors.
• The market size for minor electrical appliances has experienced substantial growth lately. It is projected that the size, which stood at $173.46 billion in 2024, will soar to $192.03 billion in 2025, representing a Compound Annual Growth Rate (CAGR) of 10.7%.
The significant growth observed in the historic period is credited to factors such as household electrification, urbanization, ease of use, compliance with safety regulations, the emerging popularity of smart homes, and an increased level of disposable income.
What Can Be Expected from the Small Electrical Appliance Market Size?
The small electrical appliance market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of small electrical appliance is anticipated to witness substantial growth in the coming years. By 2029, it is projected to reach a value of $274.13 billion, growing at a compound annual growth rate (CAGR) of 9.3%.
Factors contributing to this growth in the forecasting period are the integration with smart homes, the focus on sustainability and energy efficiency, health and wellness trends, the rise of home office and remote work, as well as an aging population. Some of the significant trends predicted for this period include connectivity and Internet of Things (IoT), compact and portable design, voice control, multi-functionality, and the use of sustainable materials.
What Are the Critical Driver Fuelling The Small Electrical Appliance Market's Growth?
The growth of the small electrical appliances market in the forecast period has been influenced by the heightened electrification, particularly in rural areas. The surge in disposable income, together with electrification, has fueled the need for household fans. For example, the Organization for Economic Co-operation and Development, an intergovernmental organization based in France, reported that the average household net adjusted disposable income per capita across the OECD was $30,490 a year in 2022. The escalation in disposable income has amplified the purchasing capacity of consumers subsequently driving up the market for small electrical appliances.
How Is The Small Electrical Appliance Market segmented?
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: Super market & Hyper markets, Specialty Stores, E-Commerce, Others Distribution Channel
Subsegments:
1) By Household Type Fans: Ceiling Fans, Table Fans, Wall-mounted Fans, Tower Fans, Exhaust Fans
2) By Household Type Vacuum Cleaners: Upright Vacuum Cleaners, Canister Vacuum Cleaners, Robotic Vacuum Cleaners, Handheld Vacuum Cleaners, Stick Vacuum Cleaners
3) By Other Household Type Small Electric Appliances: Air Purifiers, Humidifiers and Dehumidifiers, Electric Irons, Space Heaters, Hair Dryers and Styling Tools
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What Emerging Trends Are Influencing The Growth Of The Small Electrical Appliance Market?
Manufacturers of small electrical appliances are progressively focusing on the production of energy-saving appliances as a means of shrinking their carbon emissions and serving their customers better. The surge in popularity for these energy-efficient products is due to strict governmental rules concerning home electric appliances coupled with technological advancements. Energy-saving fans, for instance, are engineered with the objective of using as little energy as possible. Nowadays, more than 80 nations around the world have established standards as well as labels for energy-efficient appliances. To illustrate, ENERGY STAR-certified ceiling fans in the United States showcase innovative design, incorporate the latest technology, and offer a 60% efficiency rate when compared to traditional ceiling fans.
Who Are the Key Players In The Small Electrical Appliance Market?
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
What Is The Most Dominant Region In The Small Electrical Appliance Market?
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
