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Electric Motors Market

Global Electric Motors Market Size, Share, Trends, Forecast: By Type: AC Motors, DC Motors, Hermetic Motors; By Power Output: Integral HP Output, Fractional HP Output; By Application: Industrial, Residential and Commercial, E-Mobility, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Electric Motors Market Outlook

The global electric motors market stood at a value of around USD 109.1 billion in 2021 and expected to grow at a CAGR of 5.9% in the forecast period of 2024-2032 to attain a value of USD 153.6 billion by 2027.     

 

Electric Motor Market

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AC Motors Segment to Account for a Significant Market Share of the Global Electric Motors Industry

Based on type, the AC motors segment is predicted to hold a significant market share in the electric motors industry. This growth can be attributed to the increased implementation of AC motors in various products ranging from industrial equipment and motor vehicles to household appliances. Moreover, these are small and lightweight while also being energy-efficient and are increasingly being utilised in HVAC equipment. Furthermore, these are also exceedingly popular in the automotive sector owing to their high efficiency and low cost. These factors are expected to contribute to the overall market growth in the forecast period.

 

The Asia Pacific to Occupy a Substantial Market Share in the Global Electric Motors Industry

The Asia Pacific is estimated to hold a substantial share of the electric motors industry in the forecast period. This growth can be attributed to the increased industrialisation in the region, which is leading to a rise in demand for electric motors in various industry verticals. Moreover, the government is increasingly investing in the production and implementation of electric motors in the manufacturing of automobiles, the construction industry, and mining activities. Furthermore, electric motors are also utilised in the agriculture sector in countries like India, where a significant population relies on agricultural practices. These factors are estimated to positively influence the growth of the electric motors industry.

 

Electric Motors: Market Segmentation

Electric motors refer to those devices that help convert electrical energy into mechanical energy, usually by employing the electromagnetic phenomenon, which is the interaction between the magnetic field of the motor and the electric current present in a wire winding. In other words, electric motors or electromagnetic transducers use electricity as their energy source, which gets converted into mechanical energy utilised to keep an object in motion, such as cars, trains, and washing machines, among others. In addition, electric motors are powered by direct or alternating energy sources such as DC motors, that is, direct current motors powered by batteries or AC motors, that is, alternating current motors powered by inverters and power grids.

 

Electric Motor Market by Segments

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By type, the market is divided into:

  • AC Motors 
  • DC Motors
  • Hermetic Motors

Among these, AC motors can be further bifurcated by type into synchronous AC motors and induction AC motors. At the same time, DC motors can be further divided by type into brushed DC motors and brushless DC motors.

On the basis of power output , the market can be bifurcated into:

  • Integral HP Output 
  • Fractional HP Output

Based on application, the industry can be categorised into:

  • Industrial
  • Residential and commercial
  • E-Mobility
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Electric Motor Market by Region

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Heightened Demand for Energy Efficient Vehicles and the Rising Environmental Awareness  to Augment the Global Electric Motors Industry

The rising population worldwide and the growing urbanisation rates have led to a rise in demand for housing and other commercial and industrial infrastructure facilities. This, coupled with the growing environmental consciousness, is leading to an increased adoption of electric motors in various industries, including heavy industrial equipment and machinery, due to their properties like durability, high efficiency, and low energy consumption, along with a high endurance for fluctuating voltages.  Moreover, with the increasing disposable income and need for transportation, consumers are exceedingly investing in personal passenger vehicles. With subsequent technological advancements, electric cars are being introduced in the market, which is expected to reduce the usage of fossil fuel-based energy resources and increase the demand for electric motors that enhance the utility of electric vehicles, thus, aiding the market growth. Furthermore, the increased investments in the research and development of electric motors by the leading manufacturers are expected to positively impact the market growth in the forecast period.

 

Key Industry Players in the Global Electric Motors Market

The report gives a detailed analysis of the following key players in the global electric motors market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • ABB Ltd
  • Allied Motion Technologies Inc
  • Ametek Inc
  • General Electric
  • Johnson Electric Holdings Limited
  • Rockwell Automation, Inc.
  • Siemens AG 
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Power Output
  • Application
  • Region
Breakup by Type
  • AC Motors
  • DC Motors
  • Hermetic Motors
Breakup by Power Output
  • Integral HP Output
  • Fractional HP Output
Breakup by Application
  • Industrial
  • Residential and Commercial
  • E-Mobility
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ABB Ltd.
  • Allied Motion Technologies Inc.
  • Ametek Inc
  • General Electric 
  • Johnson Electric Holdings Limited
  • Rockwell Automation, Inc.
  • Siemens AG
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Electric Motors Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Electric Motors Historical Market (2018-2023) 
    8.3    Global Electric Motors Market Forecast (2024-2032)
    8.4    Global Electric Motors Market by Type
        8.4.1    AC Motors
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Synchronous AC Motors
                8.4.1.3.2    Induction AC Motors
        8.4.2    DC Motors
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
                8.4.2.2.1    Brushed DC Motors
                8.4.2.2.2    Brushless DC Motors
        8.4.3    Hermetic Motors
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Electric Motors Market by Power Output
        8.5.1    Integral HP Output
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Fractional HP Output
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Electric Motors Market by Application
        8.6.1    Industrial
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
            8.6.1.3    Breakup by Power Type
                8.6.1.3.1    Low Power (less than 1KW)
                    8.6.1.3.1.1    Historical Trend (2018-2023)
                    8.6.1.3.1.2    Forecast Trend (2024-2032)
                8.6.1.3.2    Medium Power (1 KW to 100 KW)
                    8.6.1.3.2.1    Historical Trend (2018-2023)
                    8.6.1.3.2.2    Forecast Trend (2024-2032)
                8.6.1.3.3    High Power (More than 100 KW)
                    8.6.1.3.3.1    Historical Trend (2018-2023)
                    8.6.1.3.3.2    Forecast Trend (2024-2032)
        8.6.2    Residential and Commercial
                8.6.2.1    Historical Trend (2018-2023)
                8.6.2.2    Forecast Trend (2024-2032)
                8.6.2.3    Breakup by Application Type
                    8.6.2.3.1    HVAC
                        8.6.2.3.1.1    Historical Trend (2018-2023)
                        8.6.2.3.1.2    Forecast Trend (2024-2032)
                    8.6.2.3.2    Home Appliances
                        8.6.2.3.2.1    Historical Trend (2018-2023)
                        8.6.2.3.2.2    Forecast Trend (2024-2032)
                    8.6.2.3.3    Others
        8.6.3    E-Mobility
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
            8.6.3.3    Breakup by Type
                8.6.3.3.1    2 and 3 Wheelers
                    8.6.3.3.1.1    Historical Trend (2018-2023)
                    8.6.3.3.1.2    Forecast Trend (2024-2032)
                8.6.3.3.2    Light Vehicle (Passenger Vehicle)
                    8.6.3.3.2.1    Historical Trend (2018-2023)
                    8.6.3.3.2.2    Forecast Trend (2024-2032)
                8.6.3.3.3    Commercial Vehicle (Light and Medium Commercial)
                    8.6.3.3.3.1    Historical Trend (2018-2023)
                    8.6.3.3.3.2    Forecast Trend (2024-2032)
                8.6.3.3.4    Heavy Truck (Heavy Commercial)
                    8.6.3.3.4.1    Historical Trend (2018-2023)
                    8.6.3.3.4.2    Forecast Trend (2024-2032)
                8.6.3.3.5    Marine
                    8.6.3.3.5.1    Historical Trend (2018-2023)
                    8.6.3.3.5.2    Forecast Trend (2024-2032)
                8.6.3.3.6    Train
                    8.6.3.3.6.1    Historical Trend (2018-2023)
                    8.6.3.3.6.2    Forecast Trend (2024-2032)
                8.6.3.3.7    Aerospace
                    8.6.3.3.7.1    Historical Trend (2018-2023)
                    8.6.3.3.7.2    Forecast Trend (2024-2032)
                8.6.3.3.8    Others
        8.6.4    Others   
    8.7    Global Electric Motors Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Electric  Motors Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Electric Motors Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Electric Motors Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Electric Motors Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Electric Motors Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis (HS Code: 8501)

    16.1    Major Exporting Countries
        16.1.1    By Value
        16.1.2    By Volume
    16.2    Major Importing Countries
        16.2.1    By Value
        16.2.2    By Volume 
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    ABB Ltd.
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Allied Motion Technologies Inc.
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Ametek Inc.
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    General Electric
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Johnson Electric Holdings Limited
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Rockwell Automation, Inc.
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Siemens AG
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Electric Motors Market: Key Industry Highlights, 2017 and 2027
2.    Global Electric Motors Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Electric Motors Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Electric Motors Historical Market: Breakup by Power Output (USD Billion), 2018-2023
5.    Global Electric Motors Market Forecast: Breakup by Power Output (USD Billion), 2024-2032
6.    Global Electric Motors Historical Market: Breakup by Application (USD Billion), 2018-2023
7.    Global Electric Motors Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.    Global Electric Motors Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Electric Motors Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Electric Motors Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Electric Motors Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Major Exporting Countries by Value
21.    Major Importing Countries by Value
22.    Major Exporting Countries by Volume
23.    Major Importing Countries by Volume
24.    Global Electric Motors Market Structure

Key Questions Answered in the Report

In 2021, the global electric motors market attained a volume of nearly USD 109.1 billion.

The market is projected to grow at a CAGR of 5.9% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 153.6 billion by 2027.

The major drivers of the industry, such as the increased demand for high performance and energy efficient machining systems, growing urbanisation and global population, increased utilisation of electric motors in various household appliances, rising environmental awareness, and the rapid investments in the R&D of electric motor machinery by the leading manufacturers, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the increasing demand for high efficiency vehicles and the rapid technological advancements.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant types of the product include AC motors, DC motors, and hermetic motors. Among these AC motors can be further bifurcated by type into synchronous AC motors and induction AC motors. At the same time, DC motors can be further segmented by type into brushed DC motors and brushless DC motors.

The different segments based on power output of the product include integral HP output and fractional HP output.

The significant applications of the product include industrial, residential and commercial, e-mobility, and others.

The major players in the industry are ABB Ltd., Allied Motion Technologies Inc, Ametek Inc, General Electric, Johnson Electric Holdings Limited, Rockwell Automation, Inc., Siemens AG, and others.

Analyst Review

The global electric motors market attained a value of around USD 109.1 billion in 2021, driven by the growing demand for high performance and energy efficient industrial machinery and automobiles. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.9%. The market is projected to reach USD 153.6 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market can be categorised into AC motors, DC motors, and hermetic motors. Among these, AC motors can be further bifurcated by type into synchronous AC motors and induction AC motors. At the same time, DC motors can be further divided by type into brushed DC motors and brushless DC motors. On the basis of power output, the industry can be segmented into integral HP output and fractional HP output. The market can be categorised, based on application, into industrial, residential and commercial, e-mobility, and others. The major regional markets for electric motors are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ABB Ltd., Allied Motion Technologies Inc, Ametek Inc, General Electric, Johnson Electric Holdings Limited, Rockwell Automation, Inc., and Siemens AG, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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