The global electric motor market attained a volume of 663 million units in 2019. Rising electrification, mechanisation and automation of the industrial processes, growing automobiles sales and technological innovations, are aiding the continuing growth of the market. The electric motor market is expected to grow at a CAGR of 10.22% between 2020-2025, reaching a volume of 1188.8 million units by 2025.
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Rising urbanisation, industrialisation and electrification in emerging economies like China and India have provided further impetus to the electric motor market. With an increasing focus on motor energy conservation and environmental protection, the demand for energy saving high-efficiency motors have been growing.
Properties and Applications
Electric motors work on the principles of electromagnetism - converting electrical energy into mechanical energy. Due to their properties like durability, high efficiency, low energy consumption, and low maintenance, along with a high endurance for fluctuating voltages, electric motors find their application in various sectors:
Based on its end-use, electric motors find their largest application in the industrial sector followed by the commercial sector. In 2018, almost half of the electric motors that were globally produced were used in industrial machinery, where they form an integral component in industries like building and construction, food and beverage, mining, and iron and steel, among others.
Electric motors can be divided into two broad categories based on the type of electric power source:
The AC electric motor type dominates the market with a share of over 80%. Among AC electric motors, induction AC motors are the more popular type. Due to their simplistic design AC motors are used in industrial, domestic and commercial sectors for fixed speed applications where an AC power line can be connected.
Electric motors can also be divided on the basis of voltage usage into low, medium and high voltage. Low voltage electric motors are being widely used in fans, compressors, pumps, HVAC systems and domestic appliance, among others due to a shift towards high efficiency electric motors.
Technological advancements and the expansion of automation in industries are the major driving factors for the growth of electric motor market. In order to meet the energy efficiency standards set by governments across various countries, the use of energy efficient electric motors in industrial applications has risen leading to decrease in the energy expenses. Thus, gas turbines are being replaced with electric motors in big industrial plants, aiding the electric motor market growth. Application of electric motors in industrial machinery is expected see a robust growth and is projected to reach a volume of 511.6 million units by 2025.
The growing automotive industry aided by a rising demand for vehicles due to the greater purchasing power and better standards of living of the consumers is propelling the electric motor market forward. Various government initiatives in emerging economies are providing further impetus to the growth in sales of electric motors.
Asia Pacific is the leading region currently, having more than 50% market share. The market in the region is driven by the rising demand for energy-efficient motors over traditional electric motors. Asia Pacific is followed by North America and Europe as some of the leading markets. While the growth of the North American market is expected to slow down in the coming years due to maturity, the European market is expected to see a healthy growth in the next few years due to rising industrialisation, and economic growth along with a mounting demand for consumer home appliances and power utilities.
The report analyses the following key players in the global electric motor market including their market share, capacity and latest developments like plant turnarounds, capacity expansions, and mergers and acquisitions:
EMR’s comprehensive electric motor market report also includes a detailed SWOT analysis and Porter’s five forces model.
2 Research Methodology
3 Executive Summary
3.2 Key Demand Drivers
3.3 Top Global Suppliers
3.4 Key Development
3.5 Key Insights
4 Global Electric Motor Market Outlook
5 Global Electric Motor Market Analysis
5.1 Chart: Market by Type
5.1.1 AC Electric Motors
126.96.36.199 Induction AC Motors
188.8.131.52 Synchronous AC Motors
5.1.2 DC Electric Motors
184.108.40.206 Brushed DC Motors
220.127.116.11 Brushless DC Motors
5.2 Figure: Market by Type Historical Performance (2015-2019) & Forecast (2020-2025)
5.2.1 AC Electric Motors
18.104.22.168 Induction AC Motors
22.214.171.124 Synchronous AC Motors
5.2.2 DC Electric Motors
126.96.36.199 Brushed DC Motors
188.8.131.52 Brushless DC Motors
5.3 Chart: Market Breakup by Voltage
5.3.1 Low Voltage
5.3.2 Medium Voltage
5.3.3 High Voltage
5.4 Figure: Market by Voltage Historical Performance (2015-2019) & Forecast (2020-2025tttt)
5.4.1 Low Voltage
5.4.2 Medium Voltage
5.4.3 High Voltage
5.5 Chart: Market Breakup by Application
5.5.1 Industrial Machinery
5.5.2 Heating-Ventilating-Air-Conditioning (HVAC)
5.5.4 Motor Vehicles and Robotics
5.6 Figure: Market by Application Historical Performance (2015-2019) & Forecast (2020-2025)
5.6.1 Industrial Machinery
5.6.2 Heating-Ventilating-Air-Conditioning (HVAC)
5.6.4 Motor Vehicles and Robotics
5.7 Chart: Market Breakup by Rated Power
5.7.1 Up to 0.75 kW (Small)
5.7.2 0.75 kW to 375 kW (Medium)
5.7.3 375 kW to 10,000 kW (Large)
5.8 Figure: Market by Rated Power Historical Performance (2015-2019) & Forecast (2020-2025)
5.8.1 Up to 0.75 kW (Small)
5.8.2 0.75 kW to 375 kW (Medium)
5.8.3 375 kW to 10,000 kW (Large)
5.9 Chart: Market Breakup by Weight
5.9.1 Low Weight
5.9.2 Medium Weight
5.9.3 High Weight
5.10 Figure: Market by Weight Historical Performance (2015-2019) & Forecast (2020-2025)
5.10.1 Low Weight
5.10.2 Medium Weight
5.10.3 High Weight
5.11 Chart: Market Breakup by Speed
5.11.1 Low Speed (750 RPM/8 Pole)
5.11.2 Medium Speed (1,000 RPM/6 Pole)
5.11.3 High Speed (1,500 RPM/4 Pole)
5.11.4 Ultra-High Speed (3,000 RPM/2 Pole)
5.12 Figure: Market by Speed Historical Performance (2015-2019) & Forecast (2020-2025)
5.12.1 Low Speed (750 RPM/8 Pole)
5.12.2 Medium Speed (1,000 RPM/6 Pole)
5.12.3 High Speed (1,500 RPM/4 Pole)
5.12.4 Ultra-High Speed (3,000 RPM/2 Pole)
5.13 Chart: Market Breakup by Region
5.13.1 North America
184.108.40.206 United States of America
220.127.116.11 United Kingdom
5.13.3 Asia Pacific
5.13.4 Latin America
5.13.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
5.14 Figure: Regional Historical Consumption (2015-2019) & Forecast (2020-2025)
5.14.1 North America
188.8.131.52 United States of America
184.108.40.206 United Kingdom
5.14.3 Asia Pacific
5.14.4 Latin America
5.14.5 Middle East & Africa
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
6 SWOT Analysis
7 Value Chain Analysis
7.1 Raw Material Suppliers
7.2 Electric Motor Manufacturers
7.3 System Integrator
7.6 End Use Industries
8 Porter’s Five Forces Analysis
8.2 Buyer’s Power
8.3 Supplier’s power
8.4 New Entrants
8.5 Degree of Rivalry
9 Global Electric Motor – Trade Analysis
9.1 Major Exporting Countries by Value & Volume
9.2 Major Importing Countries by Value & Volume
10 Competitive Landscape & Supplier Analysis
10.1 ABB Limited
10.2 Siemens AG
10.3 Nidec Corporation
10.4 WEG S.A.
10.5 Regal Beloit Corporation
10.6 TECO Electric & Machinery Co., Ltd.
11 Events and Developments
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