Electric Motor Market Trends, Demand, Share, Major Player, Competitive Outlook Forecast to 2022-2027

By Laura Campbell On Jul 7, 2022

The IMARC Group provides extensive analysis of the electric motor industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on electric motor market report, size, share, trends, analysis, growth, segmentation, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

Informed covered in the report:

Historical market data from 2016-2021
CAGR of the market during the forecast period 2022-2027
Detailed information on factors that will drive market growth during the next five years
Precise estimation of the Keyword market size and its contribution to the parent market
Upcoming market trends and changes in consumer behavior
A thorough analysis of the market’s competitive landscape and detailed information on key players
Comprehensive details of factors that will challenge the growth of smart meters market key players

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The global electric motor market reached a value of US$ 108.8 Billion in 2021. An electric motor refers to an electro-mechanical device that operates on the principle of electromagnetic induction. It has various types, such as induction AC motor, synchronous AC motor, brushed DC motor, brushless DC motor, etc. Electric motors are durable, energy-efficient, require low maintenance, and retain high endurance for fluctuating voltages. They are also cost-effective when compared to the conventional fossil-fuel engines. Consequently, electric motor variants find extensive application across numerous sectors, including oil and gas, automobile, aerospace, marine, etc.

Electric Motor Market Trends:

The expanding industrial automation and urbanization levels across the globe are among the key factors driving the electric motor market. Besides this, the emerging trend of using electric-powered motors as an alternative to gas turbines in large manufacturing plants is also positively influencing the market growth. Additionally, the growing usage of heating, ventilation, and air-conditioning (HVAC) appliances in industrial, commercial, and residential spaces is acting as another significant growth-inducing factor. Furthermore, the elevating focus towards adopting vehicles powered by renewable sources to reduce the usage of fossil fuels is further catalyzing the product demand. In line with this, the launch of numerous policies by the government bodies aimed at popularizing the usage of electric vehicles to reduce carbon emissions is expected to drive the electric motor market in the coming years. Looking forward, IMARC Group expects the electric motor market to reach US$ 140.85 Billion by 2027, exhibiting at a CAGR of 4.25% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

ABB Group
Siemens Ag
WEG SA
TECO
Regal Beloit Corporation
Nidec Corporation.

Breakup by Motor Type:

AC Motor
- Induction AC Motor
- Synchronous AC Motor
DC Motor
- Brushed DC Motor
- Brushless DC Motor
Others

Breakup by Voltage:

Low Voltage Electric Motors
Medium Voltage Electric Motors
High Voltage Electric Motors

Breakup by Rated Power:

Fractional Horsepower Motors
- Fractional Horsepower (< 1/8) Motors
- Fractional Horsepower (1/8 – 1/2) Motors
- Fractional Horsepower (1/2 – 1) Motors
Integral Horsepower Motors
- Integral Horsepower (1 – 5) Motors
- Integral Horsepower (10 – 50) Motors
- Integral Horsepower (50 – 100) Motors
- Integral Horsepower (>100) Motors

Breakup by Magnet Type:

Ferrite
Neodymium (NdFeB)
Samarium Cobalt (SmCo5 and Sm2Co17)

Breakup by Weight:

Low Weight Motors
Medium Weight Motors
High Weight Motors

Breakup by Speed:

Ultra-High-Speed Motors
High-Speed Motors
Medium Speed Motors
Low Speed Motors

Breakup by Application:

Industrial Machinery
HVAC
Transportation
Household Appliances
Motor Vehicles
Aerospace
Marine
Robotics
Others

Breakup by Region:

Asia-Pacific
North America
Europe
Middle East and Africa
Latin America

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Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Published Thu, 07 Jul 2022 04:17:39 -0500