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Consumer Electronics Electric Motor Market Expected to Reach $23.5 Billion by 2032—Allied Market Research

 
2022
Consumer Electronics Electric Motor Market

Report Code : A53540

quote The consumer electronics electric motor market has witnessed a surge largely owing to an increase in adoption of compact and more portable consumer electronic devices such as smartphones, telephone, and wearable technology. In addition, rise in awareness about electric and green vehicles among customers has also positively affected the consumer electronics electric motor market growth. quote

Onkar Sumant - Manager
Construction and Manufacturing at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Consumer Electronics Electric Motor Market," The consumer electronics electric motor market size was valued at $12.5 billion in 2022, and is estimated to reach $23.5 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032.

An electric motor for consumer electronics is a specialized electrical device used to power various appliances and consumer electronics by converting electrical energy into mechanical motion or carrying out specified tasks. The efficient functioning, dependability, and compatibility with intended applications are all guaranteed by the engineering of these models, which are designed to fulfill the specific requirements and performance criteria of consumer electronic devices.

Growth in demands of consumer electronics electric motor market share from household appliances industries propel the growth of the market. In addition, the growing popularity of smarts and connected devices such as IoT based appliances and variables, relies on electronic electric motor for automation and other connectivity features. Moreover, the surge in demand for consumer electronics has resulted in higher production volume for devices like smartphones, laptops, variable and smart home appliances. As a result, more electric motors are required to meet this increase in manufacturing demand. Furthermore, consumer electronics manufacturers continuously innovated to introduce new features and improve existing products.

Electric motor enabling features like automation. Furthermore, manufacturers invest in multi-technology to remain competitive. For instance, in July 2022, Maxon Motor, A Swiss producer of motor systems established a sales office in Mexico to better serve customers and expand its brand and sales network there. The new location was created to increase the business's clientele throughout Latin America. Hence, such launched propel the growth during consumer electronics electric motor market forecast period. 

However, in order to alter the voltage to the motor coils in time with the motor’s rotation, electric motors often require an electronic switching controller. The commutator assembly on an electric motor, however, carries out this switching automatically. Electronic speed controllers (ESCs) are needed to commute electric motors even though they lack commutators. The ESC needs additional hardware to receive a throttle signal. The bulk of bigger brushless motors need a separate controller, even though some smaller ones do have built-in controllers. As a result, the cost and complexity of the motor solution are increased by these additions. The market for electric motors is expected to have an increase in electric motor failure due to overheating and an increase in DC motor maintenance costs. 

Furthermore, growth in rapid urbanization, increase in number of nuclear families, improvement in living standards, and environmental changes are key growth drivers for the growth of consumer electronic electric motor market. In addition. Consumer electronic electric motors are small, specialized electric motors used in various consumer electronic devices. These motors are designed to be compact, efficient, and tailored to specific applications with consumer electronics.  Moreover, major brands are lowering their pricing and releasing new models with cutting-edge technology and fresh aesthetics.

The consumer electronics electric motor market growth  is anticipated to expand in the coming years because of rising per capita income levels, falling prices, and consumer finance. Moreover, many countries have implemented stringent energy efficiency standard regulations for household appliances including refrigerators, washing machines and 0ther. These standards require the use of more efficient electric motors and compressors, which can lead to deployment and adoption of advanced motor technology. The manufacturers are responding by developing more efficient electric motors and motor control systems. Furthermore, ongoing research and development in electric motor technology may lead to more efficient and reliable motor for washing machines, regrigerator. Innovation can result in reduced water wastage, longer lasting operation, and capable of handling larger loads. Hence, such an advantage propels the growth of the consumer electronics electric motor market during the forecast period. 

Advancement in technology of electric motors is creating growth opportunities in the global consumer electronic electric motor market. In addition, the growing adoption of smart home devices and Internet of Things relies on electric motor for automation., such as motorized lock, blinds, and thermostats, driving the demand for these motors. Moreover, development of electric motors is growing to design them to become more adaptable in the application such as microwave and mixer and grinder. Thus, this factor is creating several opportunities in the consumer electronics electric motor industry.  

Key Findings of the Study

• The report provides an extensive consumer electronics electric motor market analysis of the current and emerging consumer electronics electric motor market trends  and dynamics.

• By motor type, the DC motor segment was the largest revenue generator in 2022.

• By voltage, the up to 50 V segment generated the highest revenue in 2022.

• By application, the refrigerator segment dominated the consumer electronics electric motor market in 2022.

• Region wise, Asia Pacific is anticipated to dominate the consumer electronics electric motor market.

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quote Consumer Electronics Electric Motor Market by Type (AC motors, DC motors), by Voltage (Up to 50V, 50-120V, Above 120V), by Application (Refrigerator, Washing Machine, Vacuum Cleaner, Microwave Oven, Mixer Grinders, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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