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Electric Motor Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 212 Pages
SKU # FOB19224234

Description

Electric Motor Market



Growth Factors of Electric Motor Market

The global electric motor market size was valued at USD 128.35 billion in 2023 and is projected to grow from USD 137.12 billion in 2024 to USD 246.59 billion by 2032, exhibiting a CAGR of 7.61% during the forecast period of 2024-2032.

The pandemic disrupted the Electric Motor Market because of supply chain problems. Still, it boosted the call for sectors like healthcare and electric-powered motors, riding long-term growth via automation and power-efficient answers, impeding the electric motor market growth.

The growth of the Electric Motor Market is driven by the increasing adoption of electric vehicles, growing business automation, demand for power-efficient solutions, and increasing renewable electricity tasks. Additionally, improvements in motor technology and government rules selling strength conservation further raise marketplace expansion.

The electric automobile (EV) marketplace is experiencing a fast boom, driven by growing client demand and environmental worries. This surge in recognition has caused a corresponding boom inside the call for high-performance and efficient electric-powered automobiles, expanding the electric motor market share globally. EV manufacturers are actively developing modern motor designs to optimize factors, which include range, energy, and performance, ensuring that electric automobiles can meet customers' expectations and compete with conventional fuel-powered motors.

Comprehensive Analysis of Electric Motor Market

The Electric Motor Market is segmented into motor kind, strength output, voltage, application, and stop-person. AC cars dominate because of their giant industrial applications, while DC vehicles are gaining traction, especially in electric-powered vehicles. Fractional horsepower motors lead in energy output and are used in small-scale industries, whereas necessary horsepower motors serve large-scale industries. Motors up to 1 kV are established in household appliances, with better voltage cars utilized in commercial and agricultural settings. The motor car segment is the most prominent software place, pushed by investments in electric vehicles and robust calls for industrial and HVAC equipment. Lastly, the transportation quarter leads to a consumer demand reinforced through supportive guidelines for electric automobiles.

The Asia Pacific region led the medical devices market by benefitting a size of USD 46.17 billion in 2023 due to the growing demand from industries like automotive, power, and manufacturing.

The leading players in the electric motor market play a crucial role in shaping its growth trajectory and establishing industry standards. Key companies, including ABB (Switzerland), AMETEK (United States), Johnson Electric (China), Siemens (Germany), Rockwell Automation (United States), GE (United States), Nidec Motor Corporation (Japan), WEG (Brazil), Toshiba Corporation (Japan), Hitachi (Japan), Mitsubishi Heavy Industries (Japan), TECO-Westinghouse Motor Company (United States), Arc Systems Inc. (Japan), DENSO (Japan), and Regal Beloit Corporation (United States), contribute to a competitive landscape that fosters innovation and market advancement.

In August 2023, WEG broadened its presence in Eastern Europe and Southwest Asia by establishing a new office in Dilovas, Kocaeli, Turkey. This 7,000 m² facility will provide technical support to customers and assemble products. This expansion will reduce the time it takes to market for the local region and neighboring countries.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.61% from 2024 to 2032

Unit Value (USD Billion)

Segmentation

By Motor Type
  • AC Motors
  • DC Motors
  • Hermetic Motors
By Power Output
  • Fractional Horsepower (Up to 1HP)
  • Integral Horsepower (Above 1HP)
By Voltage
  • Up to 1 kV
  • 1 kV-6.6 kV
  • Above 6.6 kV
By Application
  • Industrial Machinery
  • Motor Vehicles
  • HVAC Equipment
  • Electrical Appliances
  • Others
By End-User
  • Industrial
  • Commercial
  • Residential
  • Agriculture
  • Transportation
By Geography
  • North America
  • By Motor Type
  • By Power Output
  • By Voltage
  • By Application
  • By End-User
  • By Country
  • The U.S.
  • Canada
  • Europe
  • By Motor Type
  • By Power Output
  • By Voltage
  • By Application
  • By End-User
  • By Country
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • By Motor Type
  • By Power Output
  • By Voltage
  • By Application
  • By End-User
  • By Country
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
  • Latin America
  • By Motor Type
  • By Power Output
  • By Voltage
  • By Application
  • By End-User
  • By Country
  • Brazil
  • Mexico
  • Rest of Latin America
  • The Middle East & Africa
  • By Motor Type
  • By Power Output
  • By Voltage
  • By Application
  • By End-User
  • By Country
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

Table of Contents

212 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
4.6. Impact of COVID-19 on the Electric Motor Market
5. Global Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Motor Type
5.2.1. AC Motors
5.2.2. DC Motors
5.2.3. Hermetic Motors
5.3. Market Analysis, Insights and Forecast – By Power Output
5.3.1. Fractional Horsepower (Up to 1HP)
5.3.2. Integral Horsepower (Above 1HP)
5.4. Market Analysis, Insights and Forecast – By Voltage
5.4.1. Up to 1 kV
5.4.2. 1 kV-6.6 kV
5.4.3. Above 6.6 kV
5.5. Market Analysis, Insights and Forecast – By Application
5.5.1. Industrial Machinery
5.5.2. Motor Vehicles
5.5.3. HVAC Equipment
5.5.4. Electrical Appliances
5.5.5. Others
5.6. Market Analysis, Insights and Forecast – By End-User
5.6.1. Industrial
5.6.2. Commercial
5.6.3. Residential
5.6.4. Agriculture
5.6.5. Transportation
5.7. Market Analysis, Insights and Forecast – By Region
5.7.1. North America
5.7.2. Europe
5.7.3. Asia Pacific
5.7.4. Middle East & Africa
5.7.5. Latin America
6. North America Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Motor Type
6.2.1. AC Motors
6.2.2. DC Motors
6.2.3. Hermetic Motors
6.3. Market Analysis, Insights and Forecast – By Power Output
6.3.1. Fractional Horsepower (Up to 1HP)
6.3.2. Integral Horsepower (Above 1HP)
6.4. Market Analysis, Insights and Forecast – By Voltage
6.4.1. Up to 1 kV
6.4.2. 1 kV-6.6 kV
6.4.3. Above 6.6 kV
6.5. Market Analysis, Insights and Forecast – By Application
6.5.1. Industrial Machinery
6.5.2. Motor Vehicles
6.5.3. HVAC Equipment
6.5.4. Electrical Appliances
6.5.5. Others
6.6. Market Analysis, Insights and Forecast – By End-User
6.6.1. Industrial
6.6.2. Commercial
6.6.3. Residential
6.6.4. Agriculture
6.6.5. Transportation
6.7. Market Analysis, Insights and Forecast – By Country
6.7.1. U.S.
6.7.2. Canada
7. Europe Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Motor Type
7.2.1. AC Motors
7.2.2. DC Motors
7.2.3. Hermetic Motors
7.3. Market Analysis, Insights and Forecast – By Power Output
7.3.1. Fractional Horsepower (Up to 1HP)
7.3.2. Integral Horsepower (Above 1HP)
7.4. Market Analysis, Insights and Forecast – By Voltage
7.4.1. Up to 1 kV
7.4.2. 1 kV-6.6 kV
7.4.3. Above 6.6 kV
7.5. Market Analysis, Insights and Forecast – By Application
7.5.1. Industrial Machinery
7.5.2. Motor Vehicles
7.5.3. HVAC Equipment
7.5.4. Electrical Appliances
7.5.5. Others
7.6. Market Analysis, Insights and Forecast – By End-User
7.6.1. Industrial
7.6.2. Commercial
7.6.3. Residential
7.6.4. Agriculture
7.6.5. Transportation
7.7. Market Analysis, Insights and Forecast – By Country
7.7.1. U.K.
7.7.2. Germany
7.7.3. France
7.7.4. Italy
7.7.5. Spain
7.7.6. Netherlands
7.7.7. Rest of Europe
8. Asia Pacific Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Motor Type
8.2.1. AC Motors
8.2.2. DC Motors
8.2.3. Hermetic Motors
8.3. Market Analysis, Insights and Forecast – By Power Output
8.3.1. Fractional Horsepower (Up to 1HP)
8.3.2. Integral Horsepower (Above 1HP)
8.4. Market Analysis, Insights and Forecast – By Voltage
8.4.1. Up to 1 kV
8.4.2. 1 kV-6.6 kV
8.4.3. Above 6.6 kV
8.5. Market Analysis, Insights and Forecast – By Application
8.5.1. Industrial Machinery
8.5.2. Motor Vehicles
8.5.3. HVAC Equipment
8.5.4. Electrical Appliances
8.5.5. Others
8.6. Market Analysis, Insights and Forecast – By End-User
8.6.1. Industrial
8.6.2. Commercial
8.6.3. Residential
8.6.4. Agriculture
8.6.5. Transportation
8.7. Market Analysis, Insights and Forecast – By Country
8.7.1. China
8.7.2. India
8.7.3. Japan
8.7.4. Australia
8.7.5. Southeast Asia
8.7.6. Rest of Asia Pacific
9. Middle East & Africa Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Motor Type
9.2.1. AC Motors
9.2.2. DC Motors
9.2.3. Hermetic Motors
9.3. Market Analysis, Insights and Forecast – By Power Output
9.3.1. Fractional Horsepower (Up to 1HP)
9.3.2. Integral Horsepower (Above 1HP)
9.4. Market Analysis, Insights and Forecast – By Voltage
9.4.1. Up to 1 kV
9.4.2. 1 kV-6.6 kV
9.4.3. Above 6.6 kV
9.5. Market Analysis, Insights and Forecast – By Application
9.5.1. Industrial Machinery
9.5.2. Motor Vehicles
9.5.3. HVAC Equipment
9.5.4. Electrical Appliances
9.5.5. Others
9.6. Market Analysis, Insights and Forecast – By End-User
9.6.1. Industrial
9.6.2. Commercial
9.6.3. Residential
9.6.4. Agriculture
9.6.5. Transportation
9.7. Market Analysis, Insights and Forecast – By Country
9.7.1. GCC
9.7.2. South Africa
9.7.3. Rest of Middle East & Africa
10. Latin America Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Motor Type
10.2.1. AC Motors
10.2.2. DC Motors
10.2.3. Hermetic Motors
10.3. Market Analysis, Insights and Forecast – By Power Output
10.3.1. Fractional Horsepower (Up to 1HP)
10.3.2. Integral Horsepower (Above 1HP)
10.4. Market Analysis, Insights and Forecast – By Voltage
10.4.1. Up to 1 kV
10.4.2. 1 kV-6.6 kV
10.4.3. Above 6.6 kV
10.5. Market Analysis, Insights and Forecast – By Application
10.5.1. Industrial Machinery
10.5.2. Motor Vehicles
10.5.3. HVAC Equipment
10.5.4. Electrical Appliances
10.5.5. Others
10.6. Market Analysis, Insights and Forecast – By End-User
10.6.1. Industrial
10.6.2. Commercial
10.6.3. Residential
10.6.4. Agriculture
10.6.5. Transportation
10.7. Market Analysis, Insights and Forecast – By Country
10.7.1. Brazil
10.7.2. Mexico
10.7.3. Rest of Latin America
11. Competitive Analysis
11.1. Company Market Share Analysis, 2023
11.2. Company Profile
11.2.1. ABB
11.2.1.1. Business Overview
11.2.1.2. Product & Service Offering
11.2.1.3. Overall Revenue
11.2.1.4. Geographic Presence
11.2.1.5. Recent Development
11.2.2. AMETEK
11.2.2.1. Business Overview
11.2.2.2. Product & Service Offering
11.2.2.3. Overall Revenue
11.2.2.4. Geographic Presence
11.2.2.5. Recent Development
11.2.3. Johnson Electric
11.2.3.1. Business Overview
11.2.3.2. Product & Service Offering
11.2.3.3. Overall Revenue
11.2.3.4. Geographic Presence
11.2.3.5. Recent Development
11.2.4. Siemens
11.2.4.1. Business Overview
11.2.4.2. Product & Service Offering
11.2.4.3. Overall Revenue
11.2.4.4. Geographic Presence
11.2.4.5. Recent Development
11.2.5. Rockwell Automation
11.2.5.1. Business Overview
11.2.5.2. Product & Service Offering
11.2.5.3. Overall Revenue
11.2.5.4. Geographic Presence
11.2.5.5. Recent Development
11.2.6. GE
11.2.6.1. Business Overview
11.2.6.2. Product & Service Offering
11.2.6.3. Overall Revenue
11.2.6.4. Geographic Presence
11.2.6.5. Recent Development
11.2.7. Nidec Motor Corporation
11.2.7.1. Business Overview
11.2.7.2. Product & Service Offering
11.2.7.3. Overall Revenue
11.2.7.4. Geographic Presence
11.2.7.5. Recent Development
11.2.8. WEG
11.2.8.1. Business Overview
11.2.8.2. Product & Service Offering
11.2.8.3. Overall Revenue
11.2.8.4. Geographic Presence
11.2.8.5. Recent Development
11.2.9. Toshiba Corporation
11.2.9.1. Business Overview
11.2.9.2. Product & Service Offering
11.2.9.3. Overall Revenue
11.2.9.4. Geographic Presence
11.2.9.5. Recent Development
11.2.10. Hitachi
11.2.10.1. Business Overview
11.2.10.2. Product & Service Offering
11.2.10.3. Overall Revenue
11.2.10.4. Geographic Presence
11.2.10.5. Recent Development
11.2.11. Mitsubishi Heavy Industries
11.2.11.1. Business Overview
11.2.11.2. Product & Service Offering
11.2.11.3. Overall Revenue
11.2.11.4. Geographic Presence
11.2.11.5. Recent Development
11.2.12. TECO-Westinghouse Motor Company
11.2.12.1. Business Overview
11.2.12.2. Product & Service Offering
11.2.12.3. Overall Revenue
11.2.12.4. Geographic Presence
11.2.12.5. Recent Development
11.2.13. Arc Systems Inc.
11.2.13.1. Business Overview
11.2.13.2. Product & Service Offering
11.2.13.3. Overall Revenue
11.2.13.4. Geographic Presence
11.2.13.5. Recent Development
11.2.14. DENSO
11.2.14.1. Business Overview
11.2.14.2. Product & Service Offering
11.2.14.3. Overall Revenue
11.2.14.4. Geographic Presence
11.2.14.5. Recent Development
11.2.15. Regal Beloit Corporation
11.2.15.1. Business Overview
11.2.15.2. Product & Service Offering
11.2.15.3. Overall Revenue
11.2.15.4. Geographic Presence
11.2.15.5. Recent Development
12.

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