Report Overview

Global 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.

Global 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.

Growth drivers

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.

Restraints

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.

Global 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.

Global 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.

Global 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.

Global 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.

Global 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.

Global 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.

The 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, application, speed.

·         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.

Scope of the Report

By Type

·         AC Motors

·         DC Motors

·         Others

By Voltage

·         High voltage

·         Medium voltage

·         Low voltage

By Output Power

·         Integral horsepower (IHP)

·         Fractional horsepower (FHP)

By Application

·         Industrial machinery

·         Motor Vehicle

·         HVAC Equipment

·         Aerospace & transportation

·         Household appliances

·         Other Commercial Applications

By Speed:

·         Low Speed

·         Medium Speed

·         High Speed

·         Ultra-high Speed

By Region:

·         North America

·         Europe

·         Asia Pacific (APAC)

·         Latin America

·         Middle East & Africa

Competitive Landscape

·         Ametek Incorporation

·         Siemens AG

·         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

·         Toshiba

·         FAULHABER GROUP

·         Danaher Motion

·         WEG

·         Other Prominent Players

Business 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.

Customization 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:

Additional Company Information

·         With five additional company detail analysis

·         Additional country analysis

·         Detailed segment analysis