Small Electrical Appliance Global Market To Reach Value Of Almost $100 Billion In 2025
13 Sep, 2021
The small electrical appliances manufacturing market consists of sales of small electric appliances and electric housewares including household-type fans (except attic fans), household-type vacuum cleaners, and other electric household-type floor care machines.
Global Small Electrical Appliance Market Size And Drivers:
The global small electrical appliance market is expected to grow from $60.83 billion in 2020 to $67.49 billion in 2021 at a compound annual growth rate (CAGR) of 10.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $99.83 billion in 2025 at a CAGR of 10%. Increased electrification especially in rural areas has contributed to the growth of the small electrical appliances market in the forecast period.
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Trends In The Global Small Electrical Appliance Market
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 latest technology and are 60% more efficient than conventional ceiling fans.
Global Small Electrical Appliance Market Segments:
The global small electrical appliance market is further 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
By Geography: The global small electrical appliance market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Small Electrical Appliance Market At:
https://www.thebusinessresearchcompany.com/report/small-electrical-appliances-global-market-reportSmall Electrical Appliance Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides small electrical appliance market overviews, analyzes and forecasts market size and growth for the global small electrical appliance market, small electrical appliance market share, small electrical appliance market players, small electrical appliance market segments and geographies, small electrical appliance market’s leading competitors’ revenues, profiles and market shares. The small electrical appliance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.