North America Electric Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

North America Electric Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The North America electric motor market reached a value of US$ 33.5 Billion in 2018. An electric motor is an electro-mechanical device that converts electrical energy into mechanical energy. It works on the basic principle of electromagnetic induction according to which a current-carrying conductor always experiences a force in the presence of magnetic field. Electric motors offer long operational life, low energy consumption, low maintenance and high tolerance for fluctuating voltages. Owing to these benefits, electric motors are widely employed across various sectors, such as industrial machinery, motor vehicles, household appliances, HVAC equipment (heating-ventilating-air-conditioning), aerospace, transportation, etc.

The North America electric motor market is currently being driven by a number of factors. The increasing penetration of mechanization and automation across several industries has catalyzed the demand for electric motors in the region. In addition to this, rising technological advancements have led to the introduction of household appliances operated by electric motors, thereby positively influencing the market growth. Furthermore, electric motors are also employed in the agriculture industry for enhanced efficiency, controllability and long operational life of the machineries. Apart from this, rising per capita incomes coupled with the increasing environmental concerns have replaced fuel-driven automobiles with electric vehicles, thereby stimulating the demand for electric motors. Looking forward, IMARC Group expects the market to reach a value of US$ 41.4 Billion by 2024, registering a CAGR of 3.6% during 2019-2024.


Report Scope:

North America Electric motor Market

Key Regions Analysed
United States
Canada

Analysis for Each Country

Market by Type
AC Motor
Induction AC Motor
Synchronous AC Motor
DC Motor
Brushed DC Motor
Brushless DC Motor
Others

Market by Voltage
Low Voltage Electric Motors
Medium Voltage Electric Motors
High Voltage Electric Motors

Market by Speed
Ultra-High-Speed Motors
High-Speed Motors
Medium Speed Motors
Low Speed Motors

Market by Applications
Industrial Machinery
HVAC
Transportation
Household Appliances
Motor Vehicles
Others

Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape
Competitive Structure
Key Player Profiles

Key Questions Answered in This Report:

How has the North America electric motor market performed so far and how will it perform in the coming years?
What are the key regions in the North America electric motor market?
What is the breakup of the North America electric motor market on the basis of type?
What is the breakup of the North America electric motor market on the basis of voltage?
What is the breakup of the North America electric motor market on the basis of speed?
What is the breakup of the North America electric motor market on the basis of applications?
What are the various stages in the value chain of the North America electric motor industry?
What are the key driving factors and challenges in the North America electric motor industry?
What is the structure of the North America electric motor industry and who are the key players?
What is the degree of competition in the North America electric motor industry?
What are the profit margins in the North America electric motor industry?

Report Coverage:

Base Year Considered: 2018
Historical Data Coverage: 2013-2018
Market Forecast: 2019-2024
Currency: US$
Geography Covered: North America, United States and Canada
Segments Covered: Type, Voltage, Speed and Applications

Report Customization: Although IMARC has tried to cover everything in the North America electric motor market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.