Precedence Research recently published a report on “Electric Motor Market (By Type: Alternate Current (AC), Direct Current (DC); By Output Power: <1 HP, >1 HP; By Rotor Type: Outer Rotor, Inner Rotor; By End-User: Industrial, Residential, Commercial, Agriculture, Transportation) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030”, The global electric motor market size is projected to reach USD 220 billion by 2030 from an estimated USD 163 billion in 2020, at a CAGR of 7.1% from 2021 – 2030.
The machine which converts electrical energy into mechanical energy is known as an electric motor. As compared to the traditional engines electric motors provides various advantages such as low initial cost with the same horsepower rating. It has the longer lifespan due to the less moving parts. The electrical motors are majorly used in industrial, residential, commercial, agriculture and transportation sector.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2017 to 2030. This research report evaluates electric motor market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global electric motor market for the period from 2017 to 2030.
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Scope of the Study
This electric motor market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
Crucial factors accountable for market growth are:
Scope of the Electric Motor Market
| Report Coverage | Details |
| Market Size in 2030 | USD 220 Billion |
| Growth Rate between 2021 to 2030 | CAGR of 7.1% |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| By Geography |
|
| Companies Mentioned | ABB Group, General Electric, AMETEK.Inc., Bosch, Siemens AG, ARC Systems, Inc., Rockwell Automation, Inc., Asmo Co., Ltd., Nidec Motor Corporation, DENSO, WEG, Emerson Electric, Toshiba Corporation, Hitachi, Maxon Motors AG |
Regional Snapshots
Asia Pacific dominated the global electric motor market in 2020 and projected to augment the market in the coming years. The prime factor attributed for its growth is the rapid industrialization; the countries in the Asia Pacific are progressing toward internet-based industrial operations in each sector.
Nidec Corporation said in February 2017 that it has completed the previously announced acquisition of Emerson Electric Co.’s electric power generation, motors, and drives division. The purchased company has a strong commercial foundation, a well-known brand, and a large client base, mostly in North America and Europe.These factors are expected to create a positive impact on the electric motors market in the near future.
Report Highlights
Market Dynamics
Driver
Electric motors are employed in infrastructure, major structures, and industries all around the world. Each year, almost 30 million motors are sold for industrial use alone. Electric motor makers have been inventing and challenging the worldwide marketplace as the focus has turned to pollution reduction. The business wants to completely rethink electric motor technology for usage in electric automobiles. Last year, Rolls-Royce, Siemens, and Airbus forged a cooperation with the goal of building a near-term flight demonstrator that will be a substantial step forward in commercial aircraft hybrid-electric propulsion.Thus, the innovation and technological advancement will lead to the growth of the electric motors market in the forecast period.
Restraint
A few Chinese manufacturers control the prices of raw materials such as permanent magnets, steel bars, copper wires, and precision thin metals such as specialty alloys, which are needed to create electric motors. There is little product differentiation, and the market dominance of specific providers is determined by the price of the product. The price changes that ensue must be absorbed by the market’s other manufacturers/suppliers. For example, when the price of rare-earth permanent magnets fluctuates during the manufacturing process, manufacturers and suppliers are unable to pass the price shift on to end-use customers.
Opportunities
Increasing government support in the form of tax exemptions and incentives to promote eco-friendly electric vehicles powered by electric motors is also providing chances for the electric motor market to flourish. Countries all throughout the world have set 2050 targets for reducing automobile emissions. They have begun to promote the production and sale of electric vehicles as well as related charging infrastructure. The US government, for example, spent $5 billion in 2017 to encourage electric vehicle infrastructure, such as charging stations.Electric vehicles with electric motors are becoming more popular in Europe as a result of aggressive actions done to decarbonize society.These factors are acting as an opportunity in the electric motors market.
Challenges
The market for electric motors is highly fragmented, with a significant number of domestic and international manufacturers. In this industry, product quality is a fundamental criterion for distinction. The regulated market mostly caters to industrial buyers and maintains high product quality, whereas the unorganized market provides low-cost options for tapping local markets. Such factors are the major challenges for the companies who are providing the quality electric motors.
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Recent Developments
Key Players:
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the electric motor market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the electric motor market include:
Segments Covered in the Report
By Type
By Output Power
By Rotor Type
By End-User
By Geography
Key Points Covered in electric motor market Study:
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Electric Motors Market, By Type
7.1. Electric Motors Market, by Type, 2021-2030
7.1.1. Alternate Current (AC)
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Direct Current (DC)
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Electric Motors Market, By Output Power
8.1. Electric Motors Market, by Output Power, 2021-2030
8.1.1. <1 HP
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. >1 HP
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Electric Motors Market, By Rotor Type
9.1. Electric Motors Market, by Rotor Type, 2021-2030
9.1.1. Outer Rotor
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Inner Rotor
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Electric Motors Market, By End-User Type
10.1. Electric Motors Market, by End-User Type, 2021-2030
10.1.1. Industrial
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Residential
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Commercial
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Agriculture
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Transportation
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Electric Motors Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.1.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.1.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.1.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.1.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.1.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.8.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.8.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.8.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.8.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.8.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.8.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.5.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.5.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.5.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
Chapter 12. Company Profiles
12.1. ABB Group
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. General Electric
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. ARC Systems, Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Asmo Co., Ltd.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Nidec Motor Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. DENSO
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. WEG
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Emerson Electric
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Toshiba Corporation
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Hitachi
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Bosch
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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