Consumer Electronics Electric Motor Market Research, 2032
The Global Consumer Electronics Electric Motor Market Size was valued at $12,449.8 million in 2022, and is projected to reach $23,479.2 million by 2032, registering a CAGR of 6.5% from 2023 to 2032.
A specialized electrical device called an electric motor for consumer electronics performs specific functions or transforms electrical energy into mechanical motion to power various appliances and consumer devices. The engineering of these models, which are made to meet the particular specifications and performance criteria of consumer electronic devices, ensures their effective operation, dependability, and compliance with the intended uses.
Market Dynamics
In heating, ventilation, and air conditioning (HVAC) applications, the demand for electric motors has increased due to characteristics like high torque and low noise level. Around 40% of electricity is utilized to power electric motors, according to the International Energy Agency (IEA). Additionally, the electric motor is lighter, more portable, and operates at a fast speed. The demand for electric motors is also driven by the surge in demand for improved efficiency, which enables them to be made lighter, more compact, and silent in industries like HVAC, refrigerators, and vacuum cleaners.
Seasonal Energy Efficiency Ratio (SEER) ratings of 13 and higher are recognized for HVAC and refrigeration systems using electric motors, making them up to 30% more efficient than systems with their brushed counterparts. All these factors collectively drive the growth of the global market.
However, the automobile industry's slowdown and costly initial capital expenditure are anticipated to impede the expansion of the market for electric motors. Additionally, it is predicted that the market for consumer electronic electric motors would have profitable chances for expansion due to an increase in demand for electric motors from robotics and automated robot technologies.
Furthermore, several commodities, including food items, oil, and gas, saw a surge in price due to the Russia-Ukraine conflict. With supply chain interruptions, there are now more expensive shipping costs, fewer available containers, and less warehouse space. Since there have been delays in shipments and congestion, certain ports have been closed, and orders are being retracted, which influences industry and consumers globally. The decline in investor confidence has also increased stock market volatility. Economic instability has risen due to the strained commercial ties between Russia, Ukraine, and their different trading partners. Hence, all such factors have reduced export possibilities.
Segmental Overview
The Consumer Electronics Electric Motor Market is segmented into motor type, voltage, application, and regions. Based on type, the market is bifurcated into AC and DC motors. As per voltage type, the market is segmented into Up To 50V, 50 to 120V, and above 120. According to application, the market is segmented into refrigerators, mixer grinder, vacuum cleaner, washing machine, microwave oven, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Based on motor type, market is divided into AC motor and DC motor. Alternating current (AC) motor converts electric energy into mechanical energy. The major reason for utilization of AC motors is general availability of AC power. In addition, an electrical machine with rotating motion is the direct current motor. It changes the mechanical energy of DC electrical energy. Magnetic fields, which are created by rotational forces, are what drive a DC motor. Toys, small power tools, electric cars, tools, elevators, steel rolling mills, and numerous other applications all employ DC motors.
DC motor is expected to exhibit the largest revenue contributor during the forecast period. AC motor is expected to exhibit the highest CAGR share in the motor type of segment in the consumer electronics electric motor industry during the forecast period.
Based on voltage, the market is segmented into Up To 50V, 50 to 120V, and above 120. Increase in adoption of compact and more portable consumer electronic devices such as smartphones, telephone, and wearable technology, continue to create opportunity for electric motor manufacturers. In addition, many household appliances, such as washing machines, refrigerators, and air conditioner, utilize electric motor in the 50-120V range. Moreover, electric motor with voltage rating above 120 are typically used in larger and more powerful consumer and industrial applications.
The Up To 50V segment is expected to be the largest revenue contributor during the forecast period, and the above 120 segment is expected to exhibit the highest CAGR share in the voltage segment in the consumer electronics electric motor market during the forecast period.
By Application:
The market is segmented into refrigerators, mixer grinder, vacuum cleaner, washing machine, microwave oven, and others. Rising urbanization, growing number of nuclear families, increasing household income, improving living standards, and environmental changes are key growth drivers for the refrigerator motor industry. In addition, there is an increase in adoption of electric motor in washing machines due to its several advantages such as door locking and detergent dispensing. Moreover, rise in adoption of electric motor in vacuum cleaner is influenced by various factors such as technology advancement, energy efficiency regulations, consumer preference, and economic conditions. The increasing number of working women and preoccupied schedules of people in urban cities are likely to fuel the demand for microwave. Refrigerators segments are expected to be the largest revenue contributor during the forecast period, and the mixer grinder segment is expected to exhibit the highest CAGR share in the application segment during the consumer electronics electric motor market forecast period.
By Region:
The Consumer Electronics Electric Motor Market is analysed across North America, Europe, Asia-Pacific, and LAMEA. In 2022, Asia-Pacific held the highest revenue in Consumer Electronics Electric Motor market share. And LAMEA is expected to exhibit the highest CAGR during the forecast period.
Competition Analysis
The key companies profiled in the consumer electronics electric motor market report include Johnson Electric Holdings Limited, Nidec Motor Corporation, Panasonic Corporation, Nichibo DC Motor, Dumore Motors, FAULHABER GROUP, Allied Motion Technologies Inc., MABUCHI MOTOR CO., LTD., Maxon, and ORIENTAL MOTOR (INDIA) PVT.LTD.
Major companies in the market have adopted acquisition, product launch, business expansion, and other strategies as their key developmental strategies to offer better products and services to customers in the consumer electronics electric motor market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the consumer electronics electric motor market analysis from 2022 to 2032 to identify the prevailing consumer electronics electric motor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the consumer electronics electric motor market overview segmentation assists to determine the prevailing consumer electronics electric motor market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global consumer electronics electric motor market trends, key players, market segments, application areas, and consumer electronics electric motor market growth strategies.
Consumer Electronics Electric Motor Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 23.5 billion |
 Growth Rate | CAGR of 6.5% |
 Forecast period | 2022 - 2032 |
 Report Pages | 210 |
 By Type |
|
 By Voltage |
|
 By Application |
|
 By Region |
|
 Key Market Players | Maxon, ORIENTAL MOTOR (INDIA) PVT. LTD., Nichibo DC Motor, Panasonic Corporation, Dumore Motors, Allied Motion Technologies Inc., MABUCHI MOTOR CO., LTD., Nidec Motor Corporation, Johnson Electric Holdings Limited, FAULHABER GROUP |
Analyst Review
Electric motor is compact in sizes; hence, it is widely adopted in handheld devices, electric shavers, electric toothbrushes, vehicle cleaner accessories, and other equipment. The benefits associated with electric motors include high efficiency, high torque speed, small in size, and available in brushed as well as brushless technology. Rise in demand for electric motor in industrial and manufacturing sector globally fuels the growth of the electric motor market. In addition, huge demand for heating, ventilation, and air conditioning (HVAC) and automotive industries is expected to provide lucrative opportunities for the growth of the electric motors market. Moreover, major players such as Mabuchi Motor Co Ltd. And Siemens AG are adopting acquisition as a key developmental strategy to improve the product portfolio of electric motor products. For instance, in June 2021, Mabuchi Motor Co Ltd. Acquired Electromag SA that deals in providing motors for medical equipment. The acquisition aimed to improve the product portfolio of consumer electronic electric motors.
The global consumer electronics electric motor market was valued at $12,449.8 million in 2022, and is projected to reach $23,479.2 million by 2032, registering a CAGR of 6.5% from 2023 to 2032.
The forecast period considered for the global consumer electronics electric motor market is 2022 to 2031, wherein, 2022 is the base year, 2022 is the estimated year, and 2032 is the forecast year.
The latest version of global consumer electronics electric motor market report can be obtained on demand from the website.
The base year considered in the global consumer electronics electric motor market report is 2022.
The major players profiled in the consumer electronics electric motor market include, ALFA LAVAL, Bausch Strobel SE, Dara Pharma, GEA Aseptic Filling, Groninger & co. Gmbh, JBT, Krones AG, Sainy Co, Serac Group and Syntegon Technology GmbH.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
By application, the DC motors segment was the largest revenue generator in 2022.
Loading Table Of Content...
Loading Research Methodology...
