Global Electric Motor Market, By Type (AC Motors, DC Motors, and Others), By Voltage (High voltage, medium voltage, and Low Voltage), By Output Power (Integral horsepower (IHP), and Fractional horsepower (FHP)), By Application (Industrial Machinery, Motor
Description
Global Electric Motor Market, By Type (AC Motors, DC Motors, and Others), By Voltage (High voltage, medium voltage, and Low Voltage), By Output Power (Integral horsepower (IHP), and Fractional horsepower (FHP)), By Application (Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace & transportation, Household appliances, and Other Commercial Applications), By Speed (Low Speed, Medium Speed, High Speed, and Ultra-high Speed), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)Trend Analysis, Competitive Market Share & Forecast, 2018-2028
Global Electric Motor Market to Grow at Nearly 7% in Coming Years
The global electric motor market is growing on account of its longer operating life, low energy consumption, high endurance for fluctuating voltages, and low maintenance requirements…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global electric motor market was worth USD 119.7 billion in the year 2021. It is forecast that the market would grow at a CAGR of 6.70%, thereby reaching USD 187.1 billion by 2028. Consumers are leaning towards eco-friendly non-conventional fuel alternatives due to the surging fuel prices. These conventional electric appliances that use fuel to run are also polluting the environment, causing many health-related problems, creating a problem in sustaining life on earth. These are the factors impelling the end-user industries to go for electric motors, which is anticipated to propel the electric motors market in the forecast period.
High Demand from HVAC Equipment Sector is Driving Global Electric Motor Market
Based on application, the global electric motor market is segmented into industrial machinery, motor vehicles, HVAC equipment, aerospace & transportation, household appliances, and other commercial applications. The HVAC equipment segment holds the largest market share. This is because the HVAC equipment such as air conditioners, cooling towers, compressors, etc., are heavily dependent on electric motors to function. However, the motor vehicle segment is also growing at a high rate owing to the expanding automobile production.
Market Inclination toward High-Speed Electric Motors is Presenting Growth Opportunities
Based on speed, the global electric motor market is segmented into low speed, medium speed, high speed, and ultra high-speed. The high-speed segment accounts for the largest market share owing to its wide range of applications. High-speed electric motors are prominently used in applications that require high rotation speed such as high-speed cutting, grinding, and winding. These motors have high rotational speed and managed torque powered with low voltage and high voltages to operate fast-paced machinery effectively, which favors its market growth.
Global Electric Motor Market - By Output Power
Based on output power, the global electric motor market is segmented into integral horsepower (IHP), and fractional horsepower (FHP). The fractional horsepower (FHP) segment accounts for the largest market share. This type of output power is mainly used for driving pumps and compressors in refrigerators, coffee machines, washing machines, vacuum cleaners, etc. The rising demand for consumer electronic goods due to increasing disposable income and purchasing power of the consumers acts as a major driving factor for the largest market share.
Global Electric Motor Market - Regional Insights
Geographically, the global electric motor market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America is dominating the market of electric motors in terms of revenue due to rapid industrial growth and expansion of the aerospace industry. Furthermore, the high concentration of leading automobile manufacturers in the United States such as Tesla, General Motors, Hyundai Motor, etc., is also propelling the demand for electric motors in this region. APAC is anticipated to have the fastest growth during the forecast period.
Competitive Landscape
The leading market players of the global electric motor market are 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, and other prominent players.
The market is highly concentrated and competitive with the presence of multinational corporations. However, several small-scale players are also emerging and establishing themselves as leading players in the market. The companies significantly invest in research and development activities to bring innovations into their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Don’t miss the business opportunity of the global electric motor market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global electric motor market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global electric motor market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Global Electric Motor Market to Grow at Nearly 7% in Coming Years
The global electric motor market is growing on account of its longer operating life, low energy consumption, high endurance for fluctuating voltages, and low maintenance requirements…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global electric motor market was worth USD 119.7 billion in the year 2021. It is forecast that the market would grow at a CAGR of 6.70%, thereby reaching USD 187.1 billion by 2028. Consumers are leaning towards eco-friendly non-conventional fuel alternatives due to the surging fuel prices. These conventional electric appliances that use fuel to run are also polluting the environment, causing many health-related problems, creating a problem in sustaining life on earth. These are the factors impelling the end-user industries to go for electric motors, which is anticipated to propel the electric motors market in the forecast period.
High Demand from HVAC Equipment Sector is Driving Global Electric Motor Market
Based on application, the global electric motor market is segmented into industrial machinery, motor vehicles, HVAC equipment, aerospace & transportation, household appliances, and other commercial applications. The HVAC equipment segment holds the largest market share. This is because the HVAC equipment such as air conditioners, cooling towers, compressors, etc., are heavily dependent on electric motors to function. However, the motor vehicle segment is also growing at a high rate owing to the expanding automobile production.
Market Inclination toward High-Speed Electric Motors is Presenting Growth Opportunities
Based on speed, the global electric motor market is segmented into low speed, medium speed, high speed, and ultra high-speed. The high-speed segment accounts for the largest market share owing to its wide range of applications. High-speed electric motors are prominently used in applications that require high rotation speed such as high-speed cutting, grinding, and winding. These motors have high rotational speed and managed torque powered with low voltage and high voltages to operate fast-paced machinery effectively, which favors its market growth.
Global Electric Motor Market - By Output Power
Based on output power, the global electric motor market is segmented into integral horsepower (IHP), and fractional horsepower (FHP). The fractional horsepower (FHP) segment accounts for the largest market share. This type of output power is mainly used for driving pumps and compressors in refrigerators, coffee machines, washing machines, vacuum cleaners, etc. The rising demand for consumer electronic goods due to increasing disposable income and purchasing power of the consumers acts as a major driving factor for the largest market share.
Global Electric Motor Market - Regional Insights
Geographically, the global electric motor market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America is dominating the market of electric motors in terms of revenue due to rapid industrial growth and expansion of the aerospace industry. Furthermore, the high concentration of leading automobile manufacturers in the United States such as Tesla, General Motors, Hyundai Motor, etc., is also propelling the demand for electric motors in this region. APAC is anticipated to have the fastest growth during the forecast period.
Competitive Landscape
The leading market players of the global electric motor market are 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, and other prominent players.
The market is highly concentrated and competitive with the presence of multinational corporations. However, several small-scale players are also emerging and establishing themselves as leading players in the market. The companies significantly invest in research and development activities to bring innovations into their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Don’t miss the business opportunity of the global electric motor market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global electric motor market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global electric motor market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Table of Contents
119 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
- 3. Executive Summary
- 4. Global Electric Motor Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Advancement/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter’s Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
- 5. Global Electric Motor Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.1.1. AC
- 5.2.1.2. DC
- 5.2.2. By Power Rating
- 5.2.2.1. <1 KW
- 5.2.2.2. 1-2.2 KW
- 5.2.2.3. 2-375 KW
- 5.2.2.4. >375 KW
- 5.2.3. By Output Power
- 5.2.3.1. <1 HP
- 5.2.3.2. >1 HP
- 5.2.4. By Rotor Type
- 5.2.4.1. Inner Rotor
- 5.2.4.2. Outer Rotor
- 5.2.5. By End-User
- 5.2.5.1. Industrial
- 5.2.5.2. Residential
- 5.2.5.3. Commercial
- 5.2.5.4. Agriculture
- 5.2.5.5. Transportation
- 5.2.5.6. Others
- 5.2.6. By Region
- 5.2.6.1. North America
- 5.2.6.2. Europe
- 5.2.6.3. The Asia Pacific
- 5.2.6.4. Latin America
- 5.2.6.5. The Middle East and Africa
- 6. North America Electric Motor Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Power Rating
- 6.2.3. By Output Power
- 6.2.4. By Rotor Type
- 6.2.5. By End-User
- 6.2.6. By Country
- 6.2.6.1. United States
- 6.2.6.2. Canada
- 7. Europe Electric Motor Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Power Rating
- 7.2.3. By Output Power
- 7.2.4. By Rotor Type
- 7.2.5. By End-User
- 7.2.6. By Country
- 7.2.6.1. Germany
- 7.2.6.2. United Kingdom
- 7.2.6.3. Italy
- 7.2.6.4. France
- 7.2.6.5. Spain
- 7.2.6.6. Rest of Europe
- 8. The Asia Pacific Electric Motor Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Power Rating
- 8.2.3. By Output Power
- 8.2.4. By Rotor Type
- 8.2.5. By End-User
- 8.2.6. By Country
- 8.2.6.1. China
- 8.2.6.2. India
- 8.2.6.3. Japan
- 8.2.6.4. South Korea
- 8.2.6.5. Rest of Asia Pacific
- 9. Latin America Electric Motor Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Power Rating
- 9.2.3. By Output Power
- 9.2.4. By Rotor Type
- 9.2.5. By End-User
- 9.2.6. By Country
- 9.2.6.1. Brazil
- 9.2.6.2. Mexico
- 9.2.6.3. Rest of Latin America
- 10. The Middle East & Africa Electric Motor Market
- 10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Power Rating
- 10.2.3. By Output Power
- 10.2.4. By Rotor Type
- 10.2.5. By End-User
- 10.2.6. By Country
- 10.2.6.1. Saudi Arabia
- 10.2.6.2. UAE
- 10.2.6.3. South Africa
- 10.2.6.4. Rest of Middle East & Africa
- 11. Competitive Landscape
- 11.1.
- List of Key Players and Their Offerings
- 11.2. Market Share Analysis, 2021
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Development (Merger, Acquisition, Partnership)
- 12. Impact of Covid-19 on Global Electric Motor Market Industry
- 13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 13.1. ABB
- 13.2. Siemens
- 13.3. Nidec Corporation
- 13.4. Wolong
- 13.5. WEG
- 13.6. Johnson Electric
- 13.7. Regal Beloit Corporation
- 13.8. Toshiba Corporation
- 13.9. TECO Electric & Machinery
- 13.10. Hyosung Heavy Industries
- 13.11. ARC Systems Inc.
- 13.12. Denso Corporation
- 13.13. Emerson Electric Co.
- 13.14. Maxon
- 13.15. Rockwell Automation, Inc.
- 13.16. Other prominent players
- 14. Key Strategic Recommendations
- *Financial information in case of non-listed companies will be provided as per availability
- **The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
- List Of Figures
- Figure 1 Global Electric Motor Market Segmentation
- Figure 2 Global Electric Motor Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2021
- Figure 4 Global Electric Motor Market Size, By Value (USD Million), 2018-2028
- Figure 5 Global Electric Motor Market Share, By Type, By Value, 2018-2028
- Figure 6 Global Electric Motor Market Share, By Power Rating, By Value, 2018-2028
- Figure 7 Global Electric Motor Market Share, By Output Power, By Value, 2018-2028
- Figure 8 Global Electric Motor Market Share, By Rotor Type, By Value, 2018-2028
- Figure 9 Global Electric Motor Market Share, By End-User, By Value, 2018-2028
- Figure 10 Global Electric Motor Market Share, By Region, By Value, 2018-2028
- Figure 11 North America Electric Motor Market Size, By Value (USD Million), 2018-2028
- Figure 12 North America Electric Motor Market Share, By Type, By Value, 2018-2028
- Figure 13 North America Electric Motor Market Share, By Power Rating, By Value, 2018-2028
- Figure 14 North America Electric Motor Market Share, By Output Power, By Value, 2018-2028
- Figure 15 North America Electric Motor Market Share, By Rotor Type, By Value, 2018-2028
- Figure 16 North America Electric Motor Market Share, By End-User, By Value, 2018-2028
- Figure 17 North America Electric Motor Market Share, By Country, By Value, 2018-2028
- Figure 18 Europe Electric Motor Market Size, By Value (USD Million), 2018-2028
- Figure 19 Europe Electric Motor Market Share, By Type, By Value, 2018-2028
- Figure 20 Europe Electric Motor Market Share, By Power Rating, By Value, 2018-2028
- Figure 21 Europe Electric Motor Market Share, By Output Power, By Value, 2018-2028
- Figure 22 Europe Electric Motor Market Share, By Rotor Type, By Value, 2018-2028
- Figure 23 Europe Electric Motor Market Share, By End-User, By Value, 2018-2028
- Figure 24 Europe Electric Motor Market Share, By Country, By Value, 2018-2028
- Figure 25 The Asia-Pacific Electric Motor Market Size, By Value (USD Million), 2018-2028
- Figure 26 The Asia-Pacific Electric Motor Market Share, By Type, By Value, 2018-2028
- Figure 27 The Asia-Pacific Electric Motor Market Share, By Power Rating, By Value, 2018-2028
- Figure 28 The Asia-Pacific Electric Motor Market Share, By Output Power, By Value, 2018-2028
- Figure 29 The Asia-Pacific Electric Motor Market Share, By Rotor Type, By Value, 2018-2028
- Figure 30 The Asia-Pacific Electric Motor Market Share, By End-User, By Value, 2018-2028
- Figure 31 The Asia-Pacific Electric Motor Market Share, By Country, By Value, 2018-2028
- Figure 32 Latin America Electric Motor Market Size, By Value (USD Million), 2018-2028
- Figure 33 Latin America Electric Motor Market Share, By Type, By Value, 2018-2028
- Figure 34 Latin America Electric Motor Market Share, By Power Rating, By Value, 2018-2028
- Figure 35 Latin America Electric Motor Market Share, By Output Power, By Value, 2018-2028
- Figure 36 Latin America Electric Motor Market Share, By Rotor Type, By Value, 2018-2028
- Figure 37 Latin America Electric Motor Market Share, By End-User, By Value, 2018-2028
- Figure 38 Latin America Electric Motor Market Share, By Country, By Value, 2018-2028
- Figure 39 The Middle East & Africa Electric Motor Market Size, By Value (USD Million), 2018-2028
- Figure 40 The Middle East & Africa Electric Motor Market Share, By Type, By Value, 2018-2028
- Figure 41 The Middle East & Africa Electric Motor Market Share, By Power Rating, By Value, 2018-2028
- Figure 42 The Middle East & Africa Electric Motor Market Share, By Output Power, By Value, 2018-2028
- Figure 43 The Middle East & Africa Electric Motor Market Share, By Rotor Type, By Value, 2018-2028
- Figure 44 The Middle East & Africa Electric Motor Market Share, By End-User, By Value, 2018-2028
- Figure 45 The Middle East & Africa Electric Motor Market Share, By Country, By Value, 2018-2028
- List Of Tables
- Table 1 Global Electric Motor Market Size, By Type, By Value, 2018-2028
- Table 2 Global Electric Motor Market Size, By Power Rating, By Value, 2018-2028
- Table 3 Global Electric Motor Market Size, By Output Power, By Value, 2018-2028
- Table 4 Global Electric Motor Market Size, By Rotor Type, By Value, 2018-2028
- Table 5 Global Electric Motor Market Size, By End-User, By Value, 2018-2028
- Table 6 Global Electric Motor Market Size, By Region, By Value, 2018-2028
- Table 7 North America Electric Motor Market Size, By Type, By Value, 2018-2028
- Table 8 North America Electric Motor Market Size, By Power Rating, By Value, 2018-2028
- Table 9 North America Electric Motor Market Size, By Output Power, By Value, 2018-2028
- Table 10 North America Electric Motor Market Size, By Rotor Type, By Value, 2018-2028
- Table 11 North America Electric Motor Market Size, By End-User, By Value, 2018-2028
- Table 12 North America Electric Motor Market Size, By Country, By Value, 2018-2028
- Table 13 Europe Electric Motor Market Size, By Type, By Value, 2018-2028
- Table 14 Europe Electric Motor Market Size, By Power Rating, By Value, 2018-2028
- Table 15 Europe Electric Motor Market Size, By Output Power, By Value, 2018-2028
- Table 16 Europe Electric Motor Market Size, By Rotor Type, By Value, 2018-2028
- Table 17 Europe Electric Motor Market Size, By End-User, By Value, 2018-2028
- Table 18 Europe Electric Motor Market Size, By Country, By Value, 2018-2028
- Table 19 The Asia-Pacific Electric Motor Market Size, By Type, By Value, 2018-2028
- Table 20 The Asia-Pacific Electric Motor Market Size, By Power Rating, By Value, 2018-2028
- Table 21 The Asia-Pacific Electric Motor Market Size, By Output Power, By Value, 2018-2028
- Table 22 The Asia-Pacific Electric Motor Market Size, By Rotor Type, By Value, 2018-2028
- Table 23 The Asia-Pacific Electric Motor Market Size, By End-User, By Value, 2018-2028
- Table 24 The Asia-Pacific Electric Motor Market Size, By Country, By Value, 2018-2028
- Table 25 Latin America Electric Motor Market Size, By Type, By Value, 2018-2028
- Table 26 Latin America Electric Motor Market Size, By Power Rating, By Value, 2018-2028
- Table 27 Latin America Electric Motor Market Size, By Output Power, By Value, 2018-2028
- Table 28 Latin America Electric Motor Market Size, By Rotor Type, By Value, 2018-2028
- Table 29 Latin America Electric Motor Market Size, By End-User, By Value, 2018-2028
- Table 30 Latin America Electric Motor Market Size, By Country, By Value, 2018-2028
- Table 31 The Middle East & Africa Electric Motor Market Size, By Type, By Value, 2018-2028
- Table 32 The Middle East & Africa Electric Motor Market Size, By Power Rating, By Value, 2018-2028
- Table 33 The Middle East & Africa Electric Motor Market Size, By Output Power, By Value, 2018-2028
- Table 34 The Middle East & Africa Electric Motor Market Size, By Rotor Type, By Value, 2018-2028
- Table 35 The Middle East & Africa Electric Motor Market Size, By End-User, By Value, 2018-2028
- Table 36 The Middle East & Africa Electric Motor Market Size, By Country, By Value, 2018-2028
- Table 37 ABB Company Overview
- Table 38 ABB Financial Overview
- Table 39 Siemens Company Overview
- Table 40 Siemens Financial Overview
- Table 41 Wolong Company Overview
- Table 42 Wolong Financial Overview
- Table 43 WEG Company Overview
- Table 44 WEG Financial Overview
- Table 45 Regal Beloit Corporation Company Overview
- Table 46 Regal Beloit Corporation Financial Overview
- Table 47 TECO Electric & Machinery Company Overview
- Table 48 TECO Electric & Machinery Financial Overview
- Table 49 Hyosung Heavy Industries Company Overview
- Table 50 Hyosung Heavy Industries Financial Overview
- Table 51 ARC Systems Inc. Company Overview
- Table 52 ARC Systems Inc. Financial Overview
- Table 53 Denso Corporation Company Overview
- Table 54 Denso Corporation Financial Overview
- Table 55 Emerson Electric Co. Company Overview
- Table 56 Emerson Electric Co. Financial Overview
- Table 57 Maxon Company Overview
- Table 58 Maxon Financial Overview
- Table 59 Rockwell Automation, Inc. Company Overview
- Table 60 Rockwell Automation, Inc. Financial Overview
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