Global Consumer Electronics Electric Motor Market Size Booming to Touch USD 20.2 Billion by 2030

Published | 30 September 2024

Global Consumer Electronics Electric Motor Market is thriving due to rising demand for energy-efficient appliances, advancements in electric motor technology, integration of IoT, and emphasis on sustainable manufacturing and carbon emissions reduction.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Consumer Electronics Electric Motor Market size by value at USD 13,110.88 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Consumer Electronics Electric Motor Market size to expand at a CAGR of 6.52% reaching a value of USD 20,225.46 million by 2030. The growth of Global Consumer Electronics Electric Motor Market is driven by several factors, including an increasing demand for energy-efficient appliances, advancements in electric motor technology, such as brushless DC motors and the integration of IoT capabilities in consumer electronics. Additionally, there is a strong emphasis on sustainable manufacturing practices and reducing carbon emissions. The rising popularity of smart home devices and the need for quieter, more efficient motors in HVAC systems also contribute to the expansion of Global Consumer Electronics Electric Motor Market.

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Opportunity – Integration with Renewable Energy

Global Consumer Electronics Electric Motor Market is witnessing growth at a significant CAGR driven by the increasing integration of renewable energy sources, such as solar and wind power, into consumer electronics. As the demand for eco-friendly and energy-efficient devices rises, manufacturers are developing electric motors that can seamlessly operate with renewable energy systems. This integration reduces carbon footprints and aligns with global sustainability goals, attracting environmentally conscious consumers and bolstering the growth of Global Consumer Electronics Electric Motor Market.

Impact of Escalating Geopolitical Tensions on Global Consumer Electronics Electric Motor Market

Escalating geopolitical tensions, particularly between major economies like the United States and China, could significantly impact Global Consumer Electronics Electric Motor Market. These tensions disrupt supply chains, leading to shortages of critical components such as semiconductors. Increased tariffs and trade restrictions raise production costs, affecting the pricing and availability of consumer electronics. Additionally, companies may need to diversify their supply sources, which can lead to increased operational complexities and delays. This environment fosters uncertainty and volatility in the market.

Home Appliances Segment Holds Largest Share of Market by Application

The home appliances segment accounts for the largest share of Global Consumer Electronics Electric Motor Market by application. The segment’s dominance is driven by the widespread use of electric motors in various household appliances such as refrigerators, washing machines, air conditioners, and vacuum cleaners. The increasing demand for energy-efficient appliances and the ongoing trend of smart home integration further boost the segment's growth, making it the largest contributor to the market compared to personal electronics, automotive, healthcare devices, and other segments.

Competitive Landscape

Global Consumer Electronics Electric Motor Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Nidec Corporation, Johnson Electric Holdings Ltd., Mabuchi Motor Co. Ltd., Siemens AG, Maxon Motor AG, Ametek, Inc., Allied Motion Technologies Inc., Toshiba, Emerson Electric Co., Elin India, ECM PCB Stator, and General Electric. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Global Consumer Electronics Electric Motor Market.

Don’t miss the business opportunity Global Consumer Electronics Electric Motor Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Consumer Electronics Electric Motor Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in Global Consumer Electronics Electric Motor Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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