Electric Motor Market

Electric Motor Market was projected to reach at USD 180 Billion by 2027 at a CAGR of 6.3% during the forecast period.

Electric motor is defined as an electro-mechanical machine that converts electrical energy into mechanical energy. The working of electric motor depends on the interaction of electric and magnetic fields. It consists of numerous components of heating, ventilation, and cooling equipments. Electric motor is classified into AC and DC current, where AC motor takes alternating current, and DC motor takes direct current as an input. It is used in multiple applications across various industry verticals including, motor vehicles, home appliances, and industrial machinery.

To have an edge over the competition by knowing the market dynamics and current trends of “Electric Motor Market”, request for Sample Report here

The major factors driving the growth of global electric motor market includes the increasing number of commercial and residential sectors, shift toward energy-efficient motors, growing usage of electric motors across multiple industries, and growth in agriculture sector. It has been observed that agriculture industry is transforming due to climate change, population growth, and mass urbanization. Unlike past years, currently medium and large-scale processing of agriculture process is generally carried out using modern technology instead of manual process. Deployment of electric motors in agriculture industry increases energy efficiency, enhances performance, and provides high reliability. Electric motors are installed in machines and drives all the machines on workshop floors through overheat shafting, wherein each machine starts, and stop by fast and loses pulley system. Hence enhanced features of electric motors such as energy optimization, enhanced speed, ROI, and motor maintenance is boosting the adoption of electric motor in agriculture sector, which further drives the growth of the market. Additionally, growing concerns to reduce pollution and energy consumption and high demand for super-premium efficiency (IE4) electric motors is creating new growth opportunities for the market. On contrary, maintenance cost of brushed DC motors is high, which might hamper the growth of the market.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

On the basis of type, the market is segmented into AC motors and DC motors. Among these, DC motors segment is expected to witness higher CAGR during the forecast period attributed to the rising demand of electric vehicles for retracting, extending electrically powered side window, and positioning. In addition to this, brushless DC motors are gaining more traction among multiple industries, including transportation, healthcare, manufacturing, and others. It exhibits multiple advantages such as enhanced efficiency, high speed, improved performance, reliability, and eliminates the need for maintenance. Such features of DC motors will drive the growth of the segment in the market.

Based on output power, the market is segmented into <1hp, and >1hp. Among these, <1hp or fractional horsepower segment would witness higher CAGR during the forecast period. Fractional horsepower is used to power goods such as fridges, washing machines, vacuum cleaner, and other household appliances. Moreover, large applications of fractional horsepower motors in electronic goods and automotive sector is accelerating the growth of the segment.

On the basis of end-user, the market is segmented into industrial, commercial, residential, transportation, and agriculture. Among these, the transportation segment would witness faster CAGR during the forecast period. This is attributed to increasing demand for electric vehicle arise due to environmental concerns. Moreover, increasing investment in power supply generation is further fuelling the growth of electric motors in transportation sector.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Based on region, North America is expected to lead the market during the forecast period. This is attributed to development in infrastructure in the region for electric vehicles such as charging stations. Moreover, Asia-Pacific is projected to grow at a higher CAGR during the forecast period. This is due to the high adoption of electric motors by industries including chemical, automotive, fertilizers, petrochemical in the region. Increasing population in multiple countries is further leading to the adoption of electric motors, which is fuelling the growth of the market in the region.

The major players operating in the market, includes ABB Ltd, Siemens AG, General Electric Company, Nidec Corporation, Denso Corporation, Bosch Ltd, Emerson Electric Co, Allied Motion Technologies, Inc, Ametek, Inc, and Hitachi, Ltd.

Key Development:

• • In 2019, GE Company partnered with NASA for Advanced Air Vehicle Project (AAVP) to enable the future of flight for large commercial aircraft with electric propulsion. The project team worked on an inverter, which is a major component of electric aircraft propulsion system the provides power to drive electric motor.

The global electric motor market has been segmented on the basis of type, voltage, output power, end-user, and region. Based on type, market is segmented into AC motors, and DC motors. Based on voltage, market is segmented into <1kV, and 1Kv-6.6Kv. Based on output power, market is segmented into <1hp, and >1hp. Based on end-user, market is segmented into industrial, commercial, residential, transportation, and agriculture. Based on region, market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.

For detailed scope of the “Electric Motor Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global electric motor market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in electric motor market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global electric motor market?
  • Which output power generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various types of global electric motor market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

Global Electric Motor Market by Type

• • AC Motors
    • Induction Motors
    • Synchronous Motors
  • DC Motors
    • Permanent Magnet Motors
    • Series Motors
    • Shunt Motors
    • Compound Motors

Global Electric Motor Market by Voltage

• • < 1 kV (Low)
  • 1 kV–6.6 kV (Medium)
  • > 6.6 kV (High)

Global Electric Motor Market by Output Power

• • < 1 hp (Fractional horsepower)
  • > 1 hp (Integral horsepower)

Global Electric Motor Market by End-Users

• • Industrial
    • Mining & Metals
    • Chemicals & Petrochemicals
    • Oil & Gas
    • Cement & Manufacturing
    • Utilities
  • Commercial
  • Residential
  • Agriculture
  • Transportation

Global Electric Motor Market by Region

• • North America Electric Motor Market
    (Option 1: As a part of the free 25% customization)
    • North America Electric Motor Market by Type
    • North America Electric Motor Market by Voltage
    • North America Electric Motor Market by Output Power
    • North America Electric Motor Market by End-Users
    • United States of America (US) Electric Motor Market All-Up
    • Canada Electric Motor Market All-Up
  • Europe Electric Motor Market
    (Option 2: As a part of the free 25% customization)
    • Europe Electric Motor Market by Type
    • Europe Electric Motor Market by Voltage
    • Europe Electric Motor Market by Output Power
    • Europe Electric Motor Market by End-Users
    • United Kingdom (UK) Electric Motor Market All-Up
    • Germany Electric Motor Market All-Up
    • France Electric Motor Market All-Up
    • Spain Electric Motor Market All-Up
    • Rest of Europe Electric Motor Market All-Up
  • Asia-Pacific Electric Motor Market
    (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Electric Motor Market by Type
    • Asia-Pacific Electric Motor Market by Voltage
    • Asia-Pacific Electric Motor Market by Output Power
    • Asia-Pacific Electric Motor Market by End-Users
    • China Electric Motor Market All-Up
    • India Electric Motor Market All-Up
    • Japan Electric Motor Market All-Up
    • Rest of APAC Electric Motor Market All-Up
  • RoW Electric Motor Market
    (Option 4: As a part of the free 25% customization)
    • RoW Electric Motor Market by Type
    • RoW Electric Motor Market by Voltage
    • RoW Electric Motor Market by Output Power
    • RoW Electric Motor Market by End-Users
    • Brazil Electric Motor Market All-Up
    • Saudi Arabia Electric Motor Market All-Up
    • UAE Electric Motor Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Electric Motor Market All-Up

Global Electric Motor Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB Ltd
  • Siemens AG
  • General Electric Company
  • Nidec Corporation
  • Denso Corporation
  • Bosch Ltd
  • Emerson Electric Co
  • Allied Motion Technologies, Inc
  • Ametek, Inc
  • Hitachi, Ltd