Electric Motors Market Overview:
Electric motors are an
electromechanical device that transforms electrical energy into mechanical
energy. Electric motors work through the contact between the motor's magnetic
field and electric current in a wire winding to generate force in the form of
rotation of a shaft. Electric motors are integral components of compressors,
conveyor systems, pumps, disk drives, electric cars, etc., that are further
applied in the manufacturing, residential, and commercial sectors. By
integrating electronic hardware and sensors, AC and DC motors can be generated
that offer predictive maintenance and reduces downtime during maintenance.
Electric Motors Market Forecast and Trends
The global Electric Motors
market is anticipated to grow over a CAGR of 6% during the forecast period. The
demand for Electric Motors is increasing due to an increase in demand for
energy-efficient electric motors in the agricultural and industrial sectors,
upsurge in HVAC applications, and rise in awareness about electric and green
vehicles among customers and Government Policies. The rise in the demand of
electric motors from the agriculture sector, automotive sector and HVAC
industry due to longer operating life, low energy consumption, low maintenance,
and high endurance for fluctuating voltages, etc., are the factors estimated to
augment the global electric motors market in the forecast horizon.
The increasing fuel prices
across the globe are compelling people to incline towards eco-friendly
non-conventional fuel alternatives. The upsurge in the production of electric
vehicles is expected to augment the demand for electric motors as they are
applied in a variety of applications, from performance components to comfort
components of the vehicle.
Increase in demand for
energy-efficient electric motors in the agricultural and industrial sectors
The upsurge in demand for
electric motors as they are highly efficient, consume low energy, and have a
longer operating life and have high endurance for fluctuating voltages in the
agricultural, industrial sector, is boosting the market growth of electric
motors at a significant rate in the forecast horizon.
Rise in awareness about
electric and green vehicles among customers and Government Policies
The upsurge in the awareness
about the benefits of using smart motors amid small and medium enterprise
owners tends to augment the growth of the electric motor market. The government
policies and initiatives are promoting high efficient energy in machines and
equipment. Innovations and policy frameworks are playing a pivotal role in
fueling the demand for products in the forecast horizon. Additionally, the use
of electric motors minimizes the financial burden on governments and consumers
by reducing the consumption of electricity.
Upsurge in HVAC applications
The demand for the HVAC
system is rising use to the extreme climatic conditions in the country, hence,
propelling the growth of the electric motors market. The rise in living
standing and high per capita income is also anticipated to spur the production
of motor vehicles and electronic appliances, globally.
High Initial cost of motors
The high initial cost of
electric motors increases the price of electric cars that may hamper the growth
of the Electric Motors industry over the forecast horizon.
Electric Motors Market: Type
Based on type, the Electric
Motors market segmented into AC Motors, DC Motors, and Others. Due to the rise
in the demand for energy-efficient conveyor systems in the manufacturing and
automotive industries, AC Motors possess the largest share.
Electric Motors Market: Voltage
Based on Voltage, the
Electric Motors market segmented into High Voltage, Medium Voltage, and Low
Voltage. High voltage motors are the most used ones in industries such as oil
and gas, petrochemicals, pulp and paper, electric utility, steel, marine, air
separation, and mining. Hence, the high voltage motors segment is anticipated
to grow at a very high rate in the forecast period.
Electric Motors Market: Output Power
Based on Output Power, the
Electric Motors market bifurcated into Integral horsepower (IHP), and
Fractional horsepower (FHP). The material handling systems aid as the
significant consumers of fractional horsepower (FHP) motors, thus increasing
their demand across the globe. Therefore, expected to grow at a very high rate
during the forecast period.
Electric Motors Market: Application
Based on Application, the
Electric Motors market segmented into Industrial Machinery, Motor Vehicle, HVAC
Equipment, Aerospace & transportation, Household appliances, Other Commercial
Applications. The HVAC equipment is predicted to grow at a significant rate due
to the rise in demand for compressors in the installation of HVAC due to
extreme climatic conditions.
Electric Motors Market: Speed
Based on Speed, the Electric
Motors market segmented into Low Speed, Medium Speed, High Speed, and
Ultra-High Speed. The high-speed electric motors are anticipated to have the
highest growth during the forecast horizon.
Electric Motors Market: Regional insights
By geography, the global
Autonomous Ships Market segregated into North America, Europe, Asia Pacific,
Middle East & Africa, and Latin America. North America is expected to have
the largest market of electric motors in terms of revenue in the forecast
horizon due to industrial growth and expansion of aerospace industry. APAC is
anticipated to have the fastest growth market in the forecast horizon, due to
surge in the direct investment in developing nations like India and China.
objective of the Study:
To analyze and forecast the global Electric
Motors market size of the market, in terms of value.
To examine the careful market segmentation
and forecast the market size, in terms value, based on the region by segmenting
the Global Electric Motors market into five regions, namely, North America,
Europe, Asia Pacific, Middle East, South America and their leading countries.
To outline, categorized and forecast the
global Electric Motors market based on the type, voltage, output power,
To examine competitive developments like
technological advancement, services, and regulative framework within the global
Electric Motors Market.
· To highlight the impact analysis of the
factors, affecting the market dynamics such as drivers, restraints,
opportunities, and challenges.
· To strategically profile the key players and
comprehensively analyze their market shares along with detailing the
competitive landscape for market leaders.
of the Report
By Output Power
Integral horsepower (IHP)
Fractional horsepower (FHP)
Aerospace & transportation
Other Commercial Applications
Asia Pacific (APAC)
Middle East & Africa
Baldor Electric Incorporation
Allied Motion Technologies Inc.
ARC Systems Incorporation
Asmo Corporation Limited
Brook Crompton UK Limited
Franklin Electric Cooperative Incorporation
Rockwell Automation Incorporation
Johnson Electric Holdings Limited
Other Prominent Players
Questions answer by the report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
Client satisfaction is our
first and last priority and that is why BlueWeave Consulting offers
customization according to Company’s specific needs. The following
customization options are available for the report:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis