Small Electrical Appliances Market Rising Trend, Growing Demand and Business Outlook 2021 to 2023

By: X herald

The Global Small Electrical Appliances Market Research Report 2021-2023 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.

The global small electrical appliance market was worth $40.3 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 5.9% and reach $50.7 billion by 2023.

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Top Companies in the Global Small Electrical Appliances Market: AB Electrolux, Dyson Ltd., Panasonic Corporation, Koninklijke Philips N.V., Haier Group Corporation, Midea, Miele & Cie. KG, Samsung Electronics Co., Ltd., LG Electronics, BISSELL and Other

The small electrical appliance market covered in this report is segmented by product into household type fans, household type vacuum cleaners, and other household type small electric appliances. Thesmall electrical appliance market in this report is segmented by application into home, and commercial

Increased electrification especially in rural areas has contributed to the growth of the small electrical appliances market in the historic period. Electrification coupled with the rise in disposable income has boosted the demand for household type fans. For example, in India, the percentage of rural population with access to electricity increased from 68.3% in 2010 to 89.3% in 2017. The Percapita net disposable income increased from $1,372.9 in 2013 to $2,018.53 in 2017 at a CAGR of 10.1%. Rise in disposable income increased the purchasing power of the people which in turn has increased the market for small electrical appliances.

Rise in awareness about the adverse effects of high energy consumption, and the carbon footprint associated with the usage of several small electrical appliances is expected to restrain the market in the forecast period. Several factors such as increasing internet penetration led to an increase in awareness about the consumption of energy, rising cost of energy and adverse effects associated with the usage of several household appliances such as vacuum cleaners. In 2019, European Union banned the sale of vacuum cleaners containing motors more powerful than 900W. These factors will limit the growth of the small electrical appliances.

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.

In July 2017, CDH Fund V, L.P., a private equity fund bought a significant stake in SharkNinja Operating LLC for an undisclosed amount. This partnership is expected to accelerate the growth of SharkNinja brand of products globally. Shark Ninja is a USA based manufacturer of home and kitchen electrical appliances including vacuum cleaners.

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The market factors explained in the report:

Market Overview: It includes Small Electrical Appliances Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.

Executive Summary: The Small Electrical Appliances Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Regional Study: All of the regions and countries analyzed in the Small Electrical Appliances Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.

Key Players: This part of the Small Electrical Appliances Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.

Market Forecast: Here, the report offers a complete forecast of the global Small Electrical Appliances Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.

The research includes historic data from 2015 to 2019 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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