Consumer Electronics Electric Motor Market Size
Consumer Electronics Electric Motor Market was valued at USD 14 billion in 2023 and is predicted to witness around 5.4% CAGR from 2024 to 2032, due to an increase in the consumption of energy efficient appliances. Manufacturers are incorporating advanced electric motors to comply with energy efficiency standards and meet consumer demand for eco-friendly products.
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Technological advancements such as, development of brushless DC motors drive the market growth. These advancements help motors to be more energy efficient, compact, and they also perform better. The growth of electric motors in consumer electronics has also been boosted by the development of IoT and monitoring data functionalities.
Consumer Electronics Electric Motor Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2023 |
| Consumer Electronics Electric Motor Market Size in 2023 |
USD 14 Billion |
| Forecast Period |
2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR |
5.4% |
| 2032 Value Projection |
USD 24 Billion |
| Historical Data for |
2018 - 2023 |
| No. of Pages |
138 |
| Tables, Charts & Figures |
212 |
| Segments covered |
Motor Type, Application, Region |
| Growth Drivers |
- Rising demand for energy efficient appliances
- Technological advancements
- Growth of smart home devices
- Rising urbanization and disposable incomes
|
| Pitfalls & Challenges |
- Cost concerns
- Shift in consumer preferences
|
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When it comes to electric motors for gadgets, money-conscious shoppers often face a dilemma. Manufacturers are constantly under pressure to drop prices to stay ahead of the fierce competition, but they also have to maintain the quality and standards their brands are known for. Striking a balance between performance, quality, and affordability can be a head-scratcher, especially for smaller manufacturers. To top it off, what people want and like changes like the wind, influenced by things like how they live and what's hot in tech. Just because someone buys Brand A today doesn't mean they'll stick with it forever. That's why it's so important to keep a close eye on the market, understand what's making customers tick, and adjust as their preferences evolve.
Consumer Electronics Electric Motor Market Trends
Nowadays, people are looking for smaller and lighter electronics for their homes. As cities get more crowded, apartments are getting smaller, so people want appliances that take up less space and are easy to move around. To keep up with this trend, companies are finding ways to make electric motors smaller while still making them work just as well or even better. They're also working on making them quieter. People want their appliances to be quiet when they're running, especially if they use them at night or in noisy areas. For example, Philips has made a silent mixer grinder that makes almost no noise when it's running. This makes it a lot more pleasant to use and makes it suitable for places where noise is a concern, like nursing homes or libraries.
Consumer Electronics Electric Motor Market Analysis
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Based on motor type, the DC Motor segment was worth over USD 6.3 billion in 2023. DC motors are easy to operate even in variety of voltage. The direction and speed of rotation can be easily controlled and can be made more precise. They are more compact and can easily fit in small spaces such as smartphones, smartwatches, cameras. They have quick response time. Therefore, they are used for a variety of consumer electronics.
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Based on application, the entertainment devices segment held a market share of about 47% in 2023. Entertainment devices such as gaming consoles, projectors, audio devices and wearables such as, smart watches and fitness trackers have been in demand, especially after covid 19 pandemic. DC motors have been used in them as they are compact, efficient and are compatible with batteries.
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Asia Pacific consumer electronics electric motor market size exceeded USD 4.4 billion in 2023. This growth is attributed to the population boom of the region. Also, the rise in disposable income in countries like China, India, Japan has contributed to growth of demand of electronics such as, refrigerators, washing machines, smartphones, smartwatches, etc.
Consumer Electronics Electric Motor Market Companies
Major players operating in the consumer electronics electric motor industry are
- Nidec Corporation
- Johnson Electric Holdings Ltd.
- Mabuchi Motor Co. Ltd.
- Siemens AG
- Mitsumi Electric Co. Ltd.
- Maxon Motor AG
- Ametek, Inc.
- Allied Motion Technologies Inc.
- Industrial Equipment Systems Co. Ltd.
- FAULHABER Group
- Toshiba
- Emerson Electric Co.
- Regal Rexnord Corporation
- Rockwell Automation Inc.
- Franklin Electrics
- TECO Westinghouse
Consumer Electronics Electric Motor Industry News
- In October 2023, Posco Daewoo announced that it will return to India to launch electric motorcycles and e-cycles. Posco Daewoo has launched cars like Sedan and Matiz Hatchback in India. They are also planning to expand its operation in consumer electronics as well.
This consumer electronics electric motor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume in (Million Units) from 2018 to 2032, for the following segments
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Market, By Motor Type
- DC Motors
- AC Motors
- Induction Motors
- Universal Motors
Market, By Application
- Home appliances
- Personal care products
- Entertainment devices
- Smartphones
- HVAC systems (heating, air conditioning)
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- UK
- Germany
- France
- Italy
- Russia
- Belgium
- Sweden
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Thailand
- Vietnam
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Iran
- Turkey
- Rest of MEA
