Electrical Equipment Market Definition And Segments

Electrical equipment produces products that generate, distribute and use electrical power. Electrical equipment's primary function is to accomplish work by converting electrical energy and controlling electrical energy, including protecting systems, property, and people. The main types of electrical equipment are electric lighting equipment, household appliances, power generation, transmission, and control equipment, batteries and wires, and cables. Home appliances are electrical machines that aid in household functions such as cooking, cleaning, and food storage. The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used by B2B and B2C end users. The electrical equipment market covered in this report is segmented – 1) By Type: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables 2) By Mode: Online, Offline 3) By Sales Channel: OEM, Aftermarket 4) By End-Use: Business To Business (B2B), Business To Customer (B2C) Subsegments Covered: General Lighting, Automotive Lighting, Back Lighting, Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance, Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls, Secondary Batteries, Primary Batteries, Other Cables, Coaxial Cables, Fiber Optical Cable The electrical equipment market size has grown strongly in recent years. It will grow from $1,619.07 billion in 2023 to $1,728.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to economic growth in emerging markets, favorable government initiatives, and technological advances. The electrical equipment market size is expected to see strong growth in the next few years. It will grow to $2,193.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to innovations in electrical equipment, rising investments in energy efficient infrastructure, and favorable government initiatives. Major trends in the forecast period include premiumization of electrical equipment, developing smart appliances, developing smart appliances, developing energy-efficient products, developing and deploying e-commerce platform, strategic alliances and collaborations in order to expand its development activities.

Fostering Growth In Electrical Equipment Market Through Technological Innovation And Rising Demand

The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electronic equipment. Technological development is a key to attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Digital technologies such as the internet of things (IoT) and the latest communication technologies such as 5G are expected to aid in the development of innovative electronic products. This is expected to increase the demand for electronic products which will ultimately drive the growth of the electronic equipment manufacturing market during the forecast period.

Smartwatch Surge Is Fueling Future Growth In The Electrical Equipment Market

The increasing demand for smartwatches is expected to propel the growth of the electrical equipment market going forward. A smartwatch refers to a wearable electronic device that combines the features of a traditional wristwatch with the capabilities of a computer or a smartphone. Electrical equipment’s including smartwatches can offer several benefits including remote monitoring, navigation services, simplifying documentation, and access to information and communication through the hands-free operation. For instance, in December 2021, according to Kantar Group, a UK-based consulting company, 15% of US citizens owned smartwatches, which is an increase of more than 30% from Q3 of 2021. Therefore, the increasing demand for smartwatches is driving the growth of the electrical equipment market going forward. Major companies operating in the electrical equipment market report are Panasonic Corporation, Samsung Electronics Co Ltd., Whirlpool Corporation, Schneider Electric, Siemens AG, Cisco Corporation, ABB Ltd., Sumitomo Electric Industries Ltd., Eaton Corporation, Nexans, Iberdrola, Grand Tech Group Ltd., Haier, Electrolux, Hi-mix Eletronicos S.A, Lidertrans Groupe, Bosch, Yago Electronic, Changqinglin Electronic Company Ltd., Transmission Equipment Industry LLC, Makelsan Power Systems, Solaris Technologies LLC, Nicolay GmbH & Co.KG, Arcelik, Daikin, Electrodomesticos Taurus SL, Cata Electrodomesticos SL, Edesa Industrial, NKT Cables Group GmbH, Permanoid, Polystar, British Cables Company, Electricite de France, Enel, Engie, E.ON, Industrial Group Mida (Microelectronic Sensors), Exelon Corp, Serdia Eletrônica Industrial, Liebherr, J.J. Consultancies S.A, Suyuanyineng Electricity Machinery Equipment (Wuxi) Company Ltd., Marcelo Enrique Araya Gaete, SMEG, Zvetlit, Leoni AG, Glen Dimplex Group, Emersion Electric, Wuxi Meida Electro Technical Co. Ltd., Furukawa Electric Industries Ltd., QASA, Amphenol Corp, LG, General Cable Corporation, Belden Inc., Diebold Inc., Sharp, Hisense, Castelo Angel, Electroquil S.A, KCM Trading Co, Comercializadora Mjb Spa, Commercial Autosystem Limitada, Miele, Wesco International, Trojan Power, Alderly FZE, Comeca Middle East Electrical Equipment LLC, Arabian Falcon, Prysmian Group, Elsewedy Electric, Roto Oil, Prime Electrical Manufacturing, Shiandg Der Enterprise Co. Ltd., Hitachi, Fareast Mercantile Co Ltd., First National Battery Pty Ltd

Impact Of COVID-19 On The Electrical Equipment Manufacturing Market

The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the electrical equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ‘lock down’ and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the electrical equipment manufacturing market will recover from the shock across the forecast period as it is a ‘black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Increasing Focus On Simplifying Device Charging With Usb Receptacles

The increasing use of portable electronic devices such as smartphones and tablets has led to the development of USB receptacles. USB receptacles offer convenient access to charge any kind of electronic device. The use of USB receptacles also eliminates the need to carry charging adapters. For example, EATON manufactures USB receptacles that have tamper-resistant shutters and LED indicator lights and can be used to charge electronic devices such as tablets, mobile phones, cameras, and MP3 players. For instance, some of the major companies manufacturing USB receptacles include Eaton, GE, and Philips.

Increasing Focus On Innovative Products To Provide Reliable Services

Major companies operating in the electrical equipment market are focusing on innovative products such as, digital multimeter to enhance their position in the market. A digital multimeter refers to a versatile electronic measuring instrument used to measure various electrical parameters in an electronic circuit or electrical system. For instance, in August 2021, Hioki E.E. Corporation, a Japan-based company that specializes in the manufacturing and development of electrical measurement and testing equipment, launched the Digital Multimeter DT4261. The DT4261 can measure AC and DC voltages, harmonic measurements, and can perform diode testing. This digital multimeter can ensure safety for the test lead through mechanical innovations. Bluetooth wireless communication is made possible after the Wireless Adapter Z3210 has been fitted. By immediately entering your measured data into Excel templates, it will improve fieldwork productivity. Asia-Pacific was the largest region in the electrical equipment market in 2023. Western Europe was the second largest region in the electrical equipment market. Africa was the smallest region in the global electrical equipment market. The regions covered in the electrical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the electrical equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The electrical equipment and component market consists of sales of power converters (i.e., AC to DC and DC to AC), power supplies, surge suppressors, and general electrical equipment. 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, 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. The electrical equipment market research report is one of a series of new reports from The Business Research Company that provides electrical equipment market statistics, including electrical equipment industry global market size, regional shares, competitors with an electrical equipment market share, detailed electrical equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electrical equipment industry. This electrical equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Personal Services Market Definition And Segments

Personal services refer to those agencies that provide physical day-to-day household and individual assistance services to people. Personal services are provided to eligible beneficiaries to help them stay in their own homes and communities rather than live in institutional settings, such as nursing homes. The main types of personal services are personal care services, death care services, dry-cleaning, laundry services, other personal services, and private household services. Personal care services are hands-on services that help a person with essential daily chores that they are unable to do on their own. The different modes include online, and offline and are distributed through various channels such as specialty retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, and others. The personal services market covered in this report is segmented – 1) By Type: Personal Care Services, Death Care Services, Dry-Cleaning And Laundry Services, Other Personal Services, Private Household Services 2) By Mode: Online, Offline 3) By Distribution Channel: Specialist Retail Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Channels, Other Distribution Channels Subsegments Covered: Beauty Salons, Diet And Weight Reducing Centers, Spas & Massage Parlors, Other Personal Care Services, Funeral Homes And Funeral Services, Cemeteries And Crematories, Coin-Operated Laundries And Drycleaners, Dry-Cleaning And Laundry Services (except Coin-Operated), Linen And Uniform Supply, Pet Care (except Veterinary) Services, Photofinishing, Parking Lots And Garages, All Other Personal Services, In-house Workers, Outside Workers The personal services market size has grown strongly in recent years. It will grow from $1,271.06 billion in 2023 to $1,379.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to changing lifestyles, aging population, health and wellness trends, rising disposable income, urbanization. The personal services market size is expected to see strong growth in the next few years. It will grow to $1,891.41 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to digital transformation, environmental sustainability, social engagement and wellbeing, cultural and diversity services. Major trends in the forecast period include digital transformation and online services, subscription and membership models, remote and virtual services, digital marketing and e-commerce.

The Role Of Stable Gdp Growth In Expanding The Personal Services Market

The personal services market's growth is expected to be aided by a stable economic growth forecast in many developed and developing countries. According to the International Monetary Fund (IMF), the global real GDP growth reached 3.6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to official data from the World Bank, the GDP of India increased to $3173.40 billion in 2021, compared to $2667.69 billion in 2020. Therefore, stable economic growth is expected to increase disposable incomes, driving the demand for personal services.

The Rising Tide Of Personal Care Awareness Fueling The Personal Services Market

Increasing awareness among people regarding personal care products is expected to propel the growth of the personal services market going forward. Personal care refers to consumer products that are used in personal hygiene and grooming for self-care and beautification. Personal care products are integral to the success of personal services as they improve service quality, enhance client satisfaction, ensure safety and hygiene, and provide opportunities for customization and education. For instance, in 2023, according to Cosmetics Europe, a Belgium-based personal care association, 500 million consumers use personal care products daily to enhance their well-being and protect their health. Additionally, the personal care industry involves approximately USD 31.23 billion (€29 billion) annually to the European economy. Therefore, increasing awareness among people regarding personal care is driving the growth of the personal services market. Major companies operating in the personal services market include Service Corporation International, Elis SA, Fantastic Sams, Weight Watchers International Inc., Spotless Group Holdings Ltd., Tivity Health, Dignity PLC, Regis Corporation, ProSiebenSat.1 Media SE, CSC Serviceworks Holdings Inc., Great Clips Inc., Sport Clips Haircuts, Supercuts Inc., Massage Envy Franchising LLC, European Wax Center Inc., Hand and Stone Massage and Facial Spa, Massage Heights Franchising LLC, Elements Massage, L A Fitness International LLC, 24 Hour Fitness Worldwide Inc., Anytime Fitness Inc., Gold's Gym International Inc., Planet Fitness Inc., CRUNCH Fitness International Inc., Orangetheory Fitness, SoulCycle Inc., Pure Barre, The Bar Method, CorePower Yoga LLC, Equinox Holdings Inc., Life Time Inc., PetSmart Inc., Rover Group, Inc., Wag Group Co, Chewy Inc., Petco Health and Wellness Company Inc., Banfield Pet Hospital, VCA Antech,Inc., Funeral Directors Life Insurance Co, Match Group Inc.

Navigating The Pandemic Storm With Impact Of COVID-19 On The Personal Services Market

The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the personal services market in 2020 as the need for services offered by these establishments declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lockdown' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the personal services market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Revolutionizing Beauty Services With Online Platforms For Personal Care

Personal care service companies such as beauty salons and spas are increasingly marketing their services through online platforms. These websites or applications allow customers to book appointments with beauticians who provide services such as haircuts, styling, makeup, massage, and others at the customer's premises. For instance, Lisa, an online platform offers haircuts, massages, manicures, and others at home upon making a prior booking. Other such online personal care service platforms include Glamsquad, Urbanclap, Luxit, and Glamazon.

Innovative Service Offerings Revolutionizing Personal Services Market

Major companies operating in personal services are offering innovative service options such as Fly Cleaning services to gain a competitive edge in the market. The Fly Cleaning service was part of Virgin Australia's campaign to promote its commitment to passenger comfort and convenience. For instance, in April 2023, Virgin Australia introduced Fly Cleaning, the world's first in-flight dry cleaning service. This service allows passengers to have their clothes cleaned while traveling, eliminating the need for post-trip laundry marathons. Asia-Pacific was the largest region in the personal services market in 2023. North America was the second-largest region in the personal services market. The regions covered in the personal services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the personal services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The personal services market consists of revenues earned by entities that provide personal services to individuals, households, and businesses such as beauty salons, diet and weight-reducing centers, spas & massage parlors, funeral homes, and funeral services, cemeteries and crematories, dry-cleaning and laundry services (except coin-operated), photofinishing, parking lots and garages. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. 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. The personal services market research report is one of a series of new reports from The Business Research Company that provides personal services market statistics, including the personal services industry global market size, regional shares, competitors with a personal services market share, detailed personal services market segments, market trends and opportunities, and any further data you may need to thrive in the personal services industry. This personal services 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.

Soap And Cleaning Compounds Market Definition And Segments

The soap and cleaning compounds refer to cleaning products, surface-active agents, and textile and leather finishing agents used to clean, reduce tension, or speed the drying process. These products generally contain spreading and wetting properties. The main types of soap and cleaning compounds are soap and other detergents, surface-active agents, polish, and other sanitizing goods. Surface active agents are substances that will reduce the surface tension of a liquid in which they are dissolved, thereby increasing their spreading and wetting properties. The categories are mass and premium. The applications are household and commercial. The end-use applications are health and beauty, dishwashers, clothes, and other end-use applications. The distribution channels are hypermarkets and supermarkets, e-commerce, pharmacy stores, and other distribution channels. The soap and cleaning compounds market covered in this report is segmented – 1) By Type: Soap and Other Detergents, Surface Active Agents, Polish and Other Sanitation Goods 2) By Application: Household, Commercial 3) By Distribution Channel: Hypermarkets/Supermarkets, E-Commerce, Pharmacy Stores, Other Distribution Channels 4) By Category: Mass, Premium 5) By End User Application: Health & Beauty, Dishwash, Clothes, Other End Use Applications The soap and cleaning compounds market size has grown strongly in recent years. It will grow from $190.89 billion in 2023 to $207.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to hygiene awareness, population growth, urbanization, industrialization, environmental regulations. The soap and cleaning compounds market size is expected to see strong growth in the next few years. It will grow to $290.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to the increasing demand for eco-friendly and sustainable cleaning products, health and safety, e-commerce and digitalization, regulatory changes, globalization. Major trends in the forecast period include natural and organic products, antibacterial and disinfectant products, diy and homemade cleaning solutions, smart and connected cleaning devices, subscription and refill services.

Growth In The Automotive Industry Boosts The Growth Of The Soaps And Cleaning Products Market

The growth of the automotive industry is expected to propel the growth of the soaps and cleaning products market going forward. Automobiles, commonly known as cars or vehicles, are self-propelled wheeled vehicles designed for road transportation. Cleaning compounds and soaps have a crucial role within the automotive sector, serving diverse functions in vehicle care, manufacturing, and overall hygiene. For instance, in March 2022, according to the European Automobile Manufacturers' Association (ACEA), the lobbying and standards group for the automobile industry, the sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Further, around 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Therefore, the growth of the automotive industry is driving the growth of the soap and cleaning products market. Major companies operating in the soap and cleaning compounds market include Procter & Gamble, Unilever PLC, SC Johnson & Son Inc., Henkel AG & Co KGaA, Ecolab Inc., BASF SE, Colgate-palmolive co, Kao Corporation, Reckitt Benckiser Group PLC, The Clorox Co., Method Products PBC, Ecover, Mrs. Meyer's Clean Day, Dr. Bronner's, L'Occitane International S.A., Crabtree & Evelyn, The Body Shop International Limited, Bath & Body Works LLC, Lush Cosmetics, Natura & Co Holding S.A., Avon Products Inc., Beiersdorf AG, Shiseido Company Limited, L'Oreal S.A., Estee Lauder Companies Inc., JohnsonDiversey Inc., Diversey Inc., Betco Corporation, ZEP Inc., Spartan Chemical Company Inc.

Raw Material Volatility Challenges Affecting The Soap And Cleaning Compounds Market

The raw materials market is highly volatile, and this is expected to have a negative impact on the growth of the soap and cleaning compounds market during the forecast period. When increasing raw material costs coincide with decreasing sales prices, soap and cleaning companies have to compromise on their profit margins. Rising trucking, railroad, dry-bulk, and air-freight rates are also negatively impacting the market. Soap and cleaning product manufacturers are extremely sensitive to fluctuating raw material costs.

Shifting From Triclosan And Triclocarban To Safer Alternatives In The Soap Industry

Companies in the industry are replacing triclosan and triclocarban with chemicals such as benzalkonium chloride, benzethonium chloride, or chloroxylenol (PCMX) as they are known to be harmful to both health and the environment. Triclosan and triclocarban are the anti-microbial ingredients used in personal care products to stop or slow the growth of bacteria that cause harm. These agents are used in products such as soaps, lotions, hand washes, toothpaste, mouthwashes, soaps, deodorants, and cleaning compounds. The Food & Drug Administration stated that the manufacturers did not demonstrate the ingredients to be safe for long-term daily use and more effective in preventing illness and the spread of infections. They are also found in water bodies, thus affecting marine life. For instance, P&G and Unilever, consumer product companies, stopped manufacturing and using triclosan and triclocarban agents and are replacing them with other chemical ingredients.

Technological Innovation In The Cleaning Products Market

Major companies operating in the soap and cleaning products market are introducing innovative cleaning solutions such as Triameen Y12D to gain a competitive edge in the market. Triameen Y12D is an exceptionally effective antimicrobial agent with a wide-ranging spectrum of action, capable of combating bacteria, including mycobacteria, fungi, and specific viruses that are used as cleaning solutions for a variety of uses including household, institutional, and industrial applications. For instance, in January 2023, Nouryon, a Netherlands-based manufacturer of everyday products such as personal care, cleaning, paints and coatings, agriculture and food, pharmaceuticals, and building products, launched Triameen 12D antimicrobial active for advanced disinfection in the US cleaning market. Triameen Y12D stands out from numerous commonly utilized antimicrobial agents in the United States due to its utilization of non-quaternary ammonium technology. Furthermore, it is devoid of aldehydes and halogens, and it does not induce sensitization. Asia-Pacific was the largest region in the soap and cleaning compounds market in 2023. Western Europe was the second-largest region in the soap and cleaning compounds market. The regions covered in the soap and cleaning compounds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the soap and cleaning compounds market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The soap and cleaning compounds market consists of the sales of detergents, degreasers, abrasives, and acids. 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, 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. The soap and cleaning compounds market research report is one of a series of new reports from The Business Research Company that provides soap and cleaning compounds market statistics, including soap and cleaning compounds industry global market size, regional shares, competitors with a soap and cleaning compounds market share, detailed soap and cleaning compounds market segments, market trends and opportunities, and any further data you may need to thrive in the soap and cleaning compounds industry. This soap and cleaning compounds 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.

Personal Goods Repair And Maintenance Market Definition And Segments

Personal goods repair and maintenance refer to the service of repair and maintenance of such goods that are primarily used for personal, family, and household purposes. Repair and maintenance can help identify any environmental problems and root causes of failure, and saves the cost of new piping and foundation changes. The main types of personal goods repair and maintenance are home and garden equipment repair and maintenance, appliance repair and maintenance, reupholstery and furniture repair, footwear and leather goods repair, and other personal and household goods repair and maintenance. Organizations engaged primarily in repairing and maintaining home and garden equipment and household appliances make up the home and garden equipment repair and maintenance business. Lawnmowers, edgers, ice and leaf cleaners, washing machines and dryers, and freezers are all repaired and maintained by businesses in this field. The different modes include online, and offline and involve various service types such as inspection, maintenance, and repair. The personal goods repair and maintenance market covered in this report is segmented – 1) By Type: Home And Garden Equipment Repair And Maintenance, Appliance Repair And Maintenance, Reupholstery And Furniture Repair, Footwear And Leather Goods Repair, Other Personal And Household Goods Repair And Maintenance 2) By Mode: Online, Offline 3) By Service: Inspection, Maintenance, Repair The personal goods repair and maintenance market size has grown strongly in recent years. It will grow from $148.08 billion in 2023 to $158.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in disposable income, strong economic growth in emerging markets, rapid urbanization, increased internet penetration, and increased availability of mobile devices. The personal goods repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $203.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing sense of sustainability, higher purchase cost of new products, growing personal goods failure rate and cost-benefit associated with repairing old goods, increasing government regulations for waste management. Major trends in the forecast period include companies should focus on adopting IoT for their operations to enhance efficiency and to keep track of the real-time status of devices, implementing ar-based procedures to enhance their performance, consider merging with financial and other household appliances companies to strengthen their financial stability and enhance their performance, consider adopting predictive maintenance solutions to reduce breakdowns and improve efficiency by predicting parts failures in advance.

Household Gardening Boosts Growth Of Personal Goods Repair And Maintenance Market

An increase in household gardening is expected to propel the growth of the personal goods repair and maintenance market. The practice of maintaining and growing a garden, especially as a hobby is referred to as gardening. Gardening tools require regular maintenance and remain in good working condition with routine maintenance. In addition to being sharp, tools also need to be pristine and antiseptic. Tools can spread bacterial, fungal, or insect infestations across the garden if they come into contact with plants or soil that has such issues. With an increase in the number of people involved in gardening, the need for the maintenance of gardening equipment is also rising. For instance, according to RubyHome a US-based luxury real estate brokerage firm, 55% of American households engage in gardening activities and maintain a garden in their house. Nearly 18.3 million U.S. households started gardening in 2021. In addition, according to 2021 research among 1,023 Canadian adults, conducted by the Agri-Food Analytics Lab at Dalhousie University, a public research university in Canada, 51% of respondents said they grew at least one variety of fruit or vegetable in a garden. Of those, 17.4% started growing food at home in 2020 during COVID-19. In addition, 67% of new gardeners in 2020 agreed that the pandemic influenced their decision to start gardening. Therefore, the increase in household gardening is expected to drive the personal goods repair and maintenance market going forward.

Rapid Urbanization Boosts Growth Of Personal Goods Repair And Maintenance Market

Rapid urbanization is expected to propel the growth of the personal goods repair and maintenance market going forward. Urbanization is a phenomenon characterized by the growing concentration of population in urban areas, primarily driven by migration and the preference of more individuals to settle in cities rather than rural areas. Urban dwellers often have busy lifestyles and limited time for DIY (do-it-yourself) repairs, making them more likely to seek professional assistance for their maintenance needs. For instance, in 2022, according to the World Bank, a US-based financial institution, over 50% of the world's population will reside in urban areas. Projections indicate that this number is anticipated to grow by 1.5 times, reaching 6 billion by the year 2045. Therefore, rapid urbanization is driving the growth of the personal goods repair and maintenance market. Major companies operating in the personal goods repair and maintenance market report are Frontdoor Inc., Mr. Appliance, Furniture Medic, Lee Company, Home-Tech Consolidated, Inc., NuShoe, Pride Air Conditioning & Appliance, Inc., Arista Air Conditioning Corp., One Hour Heating & Air Conditioning, Bhangar Wala Enterprises Private Limited, Finvictus India Private Limited, Rich Life Trading Private Limited, Imexture Trade India Private Limited, Shanxi Sida Yungui Mechanical & Electrical Engineering Co., Ltd., Zhejiang Materials Industry, Zhejiang Yasha Decoration Co., Ltd., Melbourne Digital Television Services, D.K Computer Solution, Shanghai Trendzone Construction Decoration Group Co., Ltd., Huizhou Huijinlong Mechanical & Electrical Repairing Co., Ltd., Domex appliances services, Glotech repairs, capital Repairs, UK Service home AEID services, MESURE PROCESS, Libre Service Casiers Maintenance, Slak, Hamitouche Hayat, Depannage, SARL Arcade Multiservices, Repair World Direct, Square Trade, Electronix Services, Meggitt PLC, MRO services, Feba Electronics Repair Service, Hilti Group, Holcim, Lufthansa Technik, Ufa, Mendtronix Inc., The Cableshoppe Inc., uBreakiFix, iCracked, Inc., P.C. Richard & Son, Inc., Daikin Holdings America Inc., Otis Worldwide Corporation, Terminix Global Holdings, Inc., Schindler Elevator Corporation, Evernex, Quanta services, Emcor Group Inc., MYR Group, MMR Group Inc., Encompass Supply Chain Solutions, B2X Care Solutions, Moduslink Global Solutions, Redington Services, Quest International Inc

Growing Role Of Advanced Mobile Apps For Connection Between Consumers And Appliance Repair Professionals

Mobile apps are being adopted to connect consumers with appliance repair professionals. Several personal goods repair and maintenance companies are offering apps to better connect with customers and increase their reach locally. The apps tap into the current consumer trend of instinctively reaching out to their mobile phones at a moment’s notice to search for and order goods. For example, Serviz, an app for home services offers personal goods repair services with prices in some of the major American metropolitan areas. The plumber’s app allows consumers to search for nearby plumbers and send repair or maintenance requests.

Increasing Focus On Introducing Self-Service Repair To Gain A Competitive Edge

Major companies operating in the personal goods repair and maintenance market are focused on developing innovative solution such as self-service repair to gain a competitive edge in the market. The advantage of self-service repair is that it allows individuals to take control of fixing or maintaining their own belongings or systems without the need for professional assistance. For instance, in November 2021, Apple Inc., a US-based technology company, announced its self-service repair program. This program allows customers who are comfortable completing their own repairs to access Apple's genuine parts and tools. To use the self-service repair program, customers first review the repair manual for the product they want to repair. Asia-Pacific was the largest region in the personal goods repair and maintenance market in 2023. Western Europe was the second-largest region in the personal goods repair and maintenance market. The regions covered in the personal goods repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the personal goods repair and maintenance market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The personal goods repair and maintenance market consists of revenues earned by entities that provide services such as Air-conditioners, window, repair and maintenance services, Furniture refinishing shops, Furniture reupholstering shops, Garden tool sharpening and repair services, Tool, home and garden, sharpening and repair services without retailing new home and garden tools. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. 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. The personal goods repair and maintenance market research report is one of a series of new reports from The Business Research Company that provides personal goods repair and maintenance market statistics, including personal goods repair and maintenance industry global market size, regional shares, competitors with a personal goods repair and maintenance market share, detailed personal goods repair and maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the repair and maintenance of the personal goods industry. This personal goods repair and maintenance 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.

Electric Motors Market Definition And Segments

The electric motor is defined as an electric machine that converts electrical energy into mechanical energy and supplies power to the devices. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance. The main types of electric motors are alternate current (AC) motor, direct current (DC) motor, and hermetic motor. A hermetic motor contains both the compressor and the motor within a single outer welded steel shell. The motor and compressor are connected directly on the same shaft, with the motor located within the refrigeration circuit. As a result, the need for a shaft seal and the resulting refrigerant leakage problem was eliminated. Welding or brazing is used to connect all refrigerant pipelines to the outer steel shell. The voltage of an electric motor ranges from 9v and below, 10-20 v, 21-60 v, 60 v, and above, and various output power are integral horsepower (IHP) and fractional horsepower (FHP). The different speeds of the electric motor are low-speed (less than 1,000 rpm), medium-speed (1,001 to 25,000 rpm), high-speed (25,001 to 75,000 rpm), ultra-high-speed (greater than 75,001 rpm) that are used for industrial machinery, motor vehicle, HVAC equipment, aerospace and transportation, household appliances, other commercial applications. The electric motors market covered in this report is segmented – 1) By Type: Alternate Current (AC) Motor, Direct Current (AC) Motor, Hermetic Motor 2) By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP) 3) By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace & Transportation, Household Appliances, Other Commercial Applications Sub-Segments- By Voltage Range: 9v & Below, 10-20 v, 21-60 v, 60 v And Above By Speed: Low-Speed (less than 1,000 rpm), Medium-Speed (1,001 to 25,000 rpm), High-Speed (25,001 to 75,000 rpm), Ultra-High Speed (greater than 75,001 rpm) The electric motors market size has grown steadily in recent years. It will grow from $103.21 billion in 2023 to $107.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to industrial revolution, electrification of industries, transportation and automotive industry, consumer appliances and home automation. The electric motors market size is expected to see steady growth in the next few years. It will grow to $124.35 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to electrification of transportation, industrial automation, renewable energy, energy efficiency regulation, iot and smart systems. Major trends in the forecast period include high-efficiency motors, miniaturization, sensor integration, sustainable materials, customization and modular design.

Surge In Electric Vehicle Sales Fuels Growth In The Electric Motors Market

An increase in the sale of electric vehicles is expected to propel the growth of the electric motors market. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing popularity of electric vehicles drives the demand for electric to drive the wheels. For instance, in May 2023, according to the International Energy Agency (IEA), a France-based independent intergovernmental organization, there were 10 million electric vehicles sold in 2022, and the number of electric vehicles sold increased to 14 million in 2023. Therefore, the growing demand for electric vehicles (EVs) is driving the growth of the electric motors market going forward.

Increasing Demand For Electricity Supply And Its Significance In The Electric Motors Market

The increasing demand for electricity supply is expected to propel the growth of the electric motor market going forward. Electricity supply refers to the process of generating, transmitting, and distributing electrical energy to end-users or consumers for various applications, such as powering homes, businesses, industries, and transportation. Electric motors use electricity to operate effectively and efficiently and are used in fans, power tools, appliances, electric vehicles, and hybrid cars. For instance, in June 2023, according to the U.S. Energy Information Administration, a US-based government agency, in the US, electricity sales were 3,909 billion kWh (kilowatt-hour)—or about 3.9 trillion kWh (kilowatt-hour) in 2022, which has increased from 103 billion kWh (kilowatt-hour) in 2021. Therefore, the increasing demand for electricity supply is driving the growth of the electric motor market. Major companies operating in the electric motors market include Asea Brown Boveri (ABB) Ltd., ARC Systems Inc., Asmo Co. Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek Inc., Baldor Electric Company Inc., Allied Motion Technologies Inc., Franklin Electric Co. Inc., Johnson Electric Holdings Limited, Robert Bosch GmbH, Denso Corporation, Toshiba International Corporation, General Electric Company, Nidec Corporation, WEG S.A., Hitachi Ltd., Hyosung Corporation, Danaher Corporation, Teco Electric Machinery & Co., Dr. Fritz Faulhaber GmbH Co. KG, Maxon Motor AG, Mitsubishi Electric, Panasonic, Shandong, Buhler Motor Gmbh, BorgWarner Inc., Continental AG, Schneider Electric SE, Sumitomo Heavy Industries Ltd., Yaskawa Electric Corporation, Zhejiang Founder Motor Co. Ltd., Marathon Electric, Kirloskar Electric Company Limited

Tariff Hurdles In The Electric Motors Market

Increased tariffs on raw materials such as steel and aluminum will restrain the market for motor manufacturing in the forecast period. Steel and aluminum are predominantly used in the manufacture of components for motors. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in 2021, according to The Hindu, the Aluminum Association of India had requested an increase in the tariff rate of basic customs duty for Aluminum and articles from 10 to 15%.

Rise Of IOT-Enabled Smart Motors In The Electric Motors Market

Motor manufacturing companies are increasingly manufacturing IoT-enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detecting any deviation from normal behavior. Smart motors offer several benefits such as increased lifespan of equipment and improved safety.

Significance Of Innovation In Electric Motor Technology

Major companies operating in the electric motor market are focusing developing innovating products, such as the EA 193 Series permanent magnet electric motors, to provide reliable services to customers. The EA 193 Series permanent magnet electric motor is an electrified automation electric motor with 193 Series automated manufacturing technology. In July 2023, Electrified Automation Ltd., a US-based manufacturing technology company, launched the EA 193 Series permanent magnet electric motors. The EA 193 Series permanent magnet electric motor is an electric motor designed for a range of applications, from two-wheel-on-road to industrial. This uses next-generation permanent magnet electric motor technology.

Renault Group Strategic Acquisition Of Whylot For Automotive Electrification

In November 2021, Renault Group, a France-based automotive company acquired Whylot for an undisclosed amount. Through this acquisition, Renault Group aims to develop and industrialize an innovative axial-flow automotive e-motor and a breakthrough technology for electrified applications. Whylot, a France-based company specializing in innovative electric motors. Asia-Pacific was the largest region in the electric motors market in 2023. Western Europe was the second-largest region in the electric motors market. The regions covered in the electric motors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the electric motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada The electric motors market consists of sales of rotor, bearings, stator, air gap, windings, commutator, and other electric motors. Devices that use electric motors consist of fans, blowers, household appliances, disk drives, batteries and power tools, machine tools, domestic appliances, HVAC applications, electric cars, and automated robots. 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 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. The electric motors market research report is one of a series of new reports from The Business Research Company that provides electric motors market statistics, including electric motors industry global market size, regional shares, competitors with an electric motors market share, detailed electric motors market segments, market trends and opportunities, and any further data you may need to thrive in the electric motors industry. These electric motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Household Fans Market Definition And Segments

A household fan is defined as a device that consists of a rotating arrangement of blades designed to circulate air throughout an entire room. The main types in the household fans manufacturing market are ceiling fans, table fans, pedestal fans, exhaust fans, wall fans. Ceiling fans in the household fans manufacturing market refer to the fan that is mounted on a ceiling. The various types of current are ac residential fans, dc residential fans. The various distribution channels are store-based retailing, direct sales, non-store-based retailing. These are used in the home, and commercial. The household fans market covered in this report is segmented – 1) By Type Of Product: Ceiling Fans, Table Fans, Pedestal Fans, Exhaust Fans, Wall Fans 2) By Type of Current: AC Residential Fans, DC Residential Fans 3) By Application: Home, Commercial 4) By Distribution Channel: Store-based Retailing, Direct Sales, Non-Store-based Retailing The household fans market size has grown steadily in recent years. It will grow from $31.3 billion in 2023 to $32.83 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to consumer preferences for cooling solutions, energy efficiency concerns, urbanization and housing trend, climate and weather patterns, regulatory standards and certifications. The household fans market size is expected to see steady growth in the next few years. It will grow to $38.66 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to growing marketing strategies and consumer education, integration with renewable energy, urbanization and compact living, health and air quality concerns, innovations in design and aesthetics. Major trends in the forecast period include quiet operation and noise reduction, energy efficiency and eco-friendly designs, smart and connected features, innovative design and aesthetics, versatility and multi-functionality.

Growth In Household Fan Market Fueled By Increased Electrification, Rising Disposable Income In Rural Areas

Increased electrification, especially in rural areas, has contributed to the growth of the household fan market in the historic period. Electrification, coupled with the rise in disposable income, has boosted the demand for household fans. For example, in India, the percentage of the rural population with access to electricity increased to 89.3%. The percapita net disposable income increased to $2,018.53. The rise in disposable income increased the purchasing power of people, which in turn increased the household fan manufacturing market.

Home Remodeling And Renovations Fuel Growth In The Household Fan Market

An increasing inclination toward home remodeling and renovations is expected to drive the household fan market. Home remodeling and renovations refer to the process of making changes or improvements to a residential property, such as modifying the interior or exterior, adding new features, or updating existing elements to enhance its functionality, aesthetics, and overall value. Fans play a vital role in providing comfort, energy efficiency, and aesthetic appeal in renovated homes, making them a common addition during home improvement projects. For instance, in January 2023, according to the Joint Center for Housing Studies of Harvard University, a US-based research center and think tank, national spending on remodeling and repairs for owner-occupied homes is projected to reach $485 billion in 2023, marking a 2.6 % increase from the previous year, 2022. Therefore, an increasing inclination toward home remodeling and renovations will drive the household fan market going forward. Major companies operating in the household fans market report are Shell Electric MFG Co. Ltd., Hunter Fan Company, Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Ltd., Panasonic Corporation, Midea Group Co. Ltd., Emerson Electric Co., Monte Carlo Fan Company, SMC Corporation, Westinghouse Electric Corporation, ACC Limited, Havells India Limited, Broan-NuTone LLC, Luminous Power Technologies Pvt. Ltd., Airmate Electrical Co. Ltd., Henley Fan Company Ltd., Kichler Lighting LLC, Craftmade International Inc., Minka Group Inc., Orient Electric Limited, Usha International Limited, Casablanca Fan Company, Fanimation Inc., Usha Shriram Enterprises Pvt. Ltd., Polar Industries Ltd., King of Fans Inc., Litex Industries Limited, Ajanta Electricals Ltd., Mountainair Fans Pvt. Ltd., Khaitan Electricals Ltd., Fantasia Ceiling Fans Ltd., GRANSO CO. Ltd., Guangdong Zhaoqing Deton Co. Ltd.

Tariffs On Raw Materials Impede Household Fan Market Growth

Increased tariffs on raw materials such as steel and aluminum restrained the market for household fans in the historic period. Steel and aluminum are predominantly used in the manufacture of components such as blades for fans. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, the USA imposed 25% and 10% tariffs on the imports of steel and aluminum, respectively.

Household Fan Manufacturers Reduce Carbon Footprint And Promote Energy Savings

Household fan manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for 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.

Remote-Controlled Innovations Enhances Household Fans

Major companies operating in the household fan market are developing remote controlled and advanced fans such as BLDC Effecta SFR1500 to gain a competitive advantage and enhance product offerings. BLDC Effecta SFR1500 is an energy-efficient ceiling fan with features such as dust resistance, remote control, silent performance, a superior metallic finish, and aerodynamic blades. For instance, in February 2023, Syska, an India based electrical products company, introduced the BLDC Effecta SFR1500 ceiling fan equipped with energy-saving technology that can lower power consumption by up to 50%. This ceiling fan offers features including dust resistance through corrosion-free paint, remote control functionality, silent performance from carefully designed blades, an elegant superior metallic finish, and aerodynamic blades for enhanced air delivery.

Rr Kabel Strengthens Consumer Electricals Portfolio With Acquisition Of Luminous Home Electrical Business

In May 2022, RR Kabel, an India-based wire and cable manufacturer, acquired the Luminous Home Electrical business from Schneider for an undisclosed amount. This acquisition will benefit RR Kabel's consumer electrical business, which includes a diverse portfolio of fans, lighting, and appliances. Luminous Home Electrical Business is an India-based electronics and electrical company. The Asia-Pacific was the largest region in the household fans market share in 2023. Western Europe is the second-largest region in the global household fans market. The regions covered in the household fans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the household fans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The household type fans market consists of sales of ceiling fans, table fans, pedestal fans, exhaust fans, wall fans, and other household type fans. 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 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. The household fans manufacturing market research report is one of a series of new reports from The Business Research Company that provides household fans manufacturing market statistics, including household fans manufacturing industry global market size, regional shares, competitors with a household fans manufacturing market share, detailed household fans manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the household fans manufacturing industry. This household fans 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 durable goods merchant wholesalers market consists of sales of capital or durable goods by entities (organizations, sole traders, partnership) to other businesses by durable goods merchant wholesalers. They generally take title to the goods that they sell; in other words, they buy and sell goods on and generally take title to the goods that they sell; in other words, they buy and sell goods on their account. Durable goods are new or used items generally with a normal life expectancy of three years or more. The main types of durable goods merchant wholesalers are motor vehicle and motor vehicle parts and supplies merchant wholesalers, furniture and home furnishing merchant wholesalers, lumber and other construction materials merchant wholesalers, professional and commercial equipment and supplies merchant wholesalers, metal and mineral (except petroleum) merchant wholesalers, household appliances and electrical and electronic goods merchant wholesalers, hardware, and plumbing and heating equipment and supplies merchant wholesalers, machinery, equipment, and supplies merchant wholesaler, and miscellaneous durable goods merchant wholesalers. The lumber and other construction materials merchant wholesalers industry includes lumber, plywood, millwork, wood panel, brick, stone, roofing, siding, and insulation material merchant wholesalers. The ownership includes the wholesale or distribution chain and independent wholesalers. The global durable goods merchant wholesalers market size is expected to grow from $29.45 trillion in 2021 to $31.85 trillion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The global durable goods merchant wholesalers market size is expected to grow to $37.95 trillion in 2026 at a compound annual growth rate (CAGR) of 4.5%. The growing demand for wholesale sector is expected to propel the growth of the durable goods merchant wholesalers market going forward. Wholesale sector refers to the distribution channel that buy goods in bulk amount from manufacturers or producers and sell to retailers or resellers rather than to consumers. The wholesale trade for durable goods includes products such as motor vehicles, machinery and equipment (including appliances for the home), building supplies, furniture, sporting goods, metals and minerals (aside from petroleum), toys, and hobby items, recyclable materials, and components. For instance, according to Statistics Canada, an agency of the Government of Canada, in June 2022, the wholesale sales reached $80.7 billion with a monthly increase of 0.1%. Therefore, the growing demand for wholesale sector driving the growth of the durable goods merchant wholesaler’s market. Technology implementation in the wholesale industry increases efficiency and streamlines operations. Digitization in the wholesale trade market enhances the customer experience by efficiently engaging with them through seamless connectivity. Digitization allows wholesale companies to automate their sales order process and create an omnichannel strategy that interacts with customers on all sales channels and gives customers multiple purchase options. Wasco, a leading wholesaler of central heating and plumbing products, is using a solution that manages and publishes product information across all channels to create a unique omnichannel customer experience. The major players in the durable goods merchant wholesalers market are Avnet, McKesson, SYSCO, Brenntag, and Medical. Asia-Pacific was the largest region in the durable goods merchant wholesalers market in 2021. Western Europe is expected to be the fastest-growing region in the global durable goods merchant wholesalers market during the forecast period. The regions covered in the global durable goods merchant wholesalers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the durable goods merchant wholesalers market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global durable goods merchant wholesalers market is segmented - 1) By Type: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers, Furniture and Home Furnishing Merchant Wholesalers, Lumber and Other Construction Materials Merchant Wholesalers, Professional and Commercial Equipment and Supplies Merchant Wholesalers, Metal and Mineral (except Petroleum) Merchant Wholesalers, Household Appliances and Electrical and Electronic Goods Merchant Wholesalers, Hardware, and Plumbing and Heating Equipment and Supplies Merchant Wholesalers, Machinery, Equipment, and Supplies Merchant Wholesaler, Miscellaneous Durable Goods Merchant Wholesalers 2) By Ownership: Wholesale/Distribution Chain, and Independent Wholesalers

Household Appliances Market Definition

The household appliances market consists of sales of household appliances by entities (organizations, sole traders and partnerships) that produce household appliances such as electric housewares, washing machines and major household appliances. The household appliances industry comprises businesses that manufacture and sell household appliances such as microwave ovens, blenders, mixers and coffee/tea makers to end users for their personal use or domestic purposes.