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Global Electric Motor Market: By Type: AC Motor, DC Motor; By Voltage; By Rated Power; By Fractional Horsepower; By Integral Horsepower; By Magnet Type; By Weight; By Speed; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Electric Motor Market Outlook

The global electric motor market attained a value of almost USD 105.88 billion in 2020. The electric motor market is expected to grow at a CAGR of 3.8% over the forecast period of 2021-2026.

 

Electric Motor Market

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The industry is driven by rising electrification, mechanisation and automation of the industrial processes. Growing automobile sales and technological innovations are aiding the growth of the market. Rising urbanisation, industrialisation and electrification in emerging economies like China and India is providing 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 are used in various sectors.

 

Electric Motor Market by Type

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The electric motor market can be divided based on its type as:

  • AC Motor 
    • Induction AC Motors
    • Synchronous AC Motor
  • DC Motor
    • Brushed DC Motor 
    • Brushless DC Motor 
    • Others

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.

The industry can also be divided on the basis of voltage into low, medium and high voltage electric motors. 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.

On the basis of rated power, the industry is divided into:

  • Fractional Horsepower 
    • Fractional Horsepower (< 1/8) Motors
    • Fractional Horsepower (1/8 - 1/2) Motors
    • Fractional Horsepower (1/2 - 1) Motors
  • Integral Horsepower
    • Integral Horsepower (1 - 5) Motors
    • Integral Horsepower (10 - 50) Motors
    • Integral Horsepower (50 - 100) Motors
    • Integral Horsepower (>100) Motors

On the basis of magnet type, the industry is divided into:

  • Ferrite
  • Neodymium (NdFeB)
  • Samarium Cobalt (SmCo5 and Sm2Co17)

Based on weight, the industry is fragmented into:

  • Low Weight
  • Medium Weight
  • High Weight

On the basis of speed, the industry is categorised into:

  • Ultra-High Speed 
  • High Speed
  • Medium Speed
  • Low Speed

On the basis of application, the industry is divided into:

  • Industrial Machinery
  • HVAC
  • Transportation
  • Household Appliances
  • Motor Vehicles
  • Aerospace
  • Marine
  • Robotics 
  • 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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Market Analysis

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, aiming to decrease 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 2026.

The growing automotive industry, which is being aided by rising demand for vehicles due to the greater purchasing power and better living standards of 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.

The 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. 

 

Competitive Landscape

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

  • ABB Limited
  • Siemens AG
  • Nidec Corporation
  • WEG S.A.
  • Regal Beloit Corporation
  • Others

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

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    Industry Opportunities and Challenges
8    Global Electric Motor Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Electric Motor Historical Market (2016-2020) 
    8.3    Global Electric Motor Market Forecast (2021-2026)
    8.4    Global Electric Motor Market by Type
        8.4.1    AC Motor
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Induction AC Motor
                8.4.1.4.2    Synchronous AC Motor
        8.4.2    DC Motor
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Brushed DC Motor
                8.4.2.4.2    Brushless DC Motor
        8.4.3    Others
    8.5    Global Electric Motor Market by Voltage
        8.5.1    Low Voltage Electric Motors
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Medium Voltage Electric Motors
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    High Voltage Electric Motors
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
    8.6    Global Electric Motor Market by Rated Power
        8.6.1    Fractional Horsepower Motors
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Integral Horsepower Motors
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Electric Motor Market by Fractional Horsepower
        8.7.1    Fractional Horsepower (< 1/8) Motors
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Fractional Horsepower (1/8 - 1/2) Motors
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Fractional Horsepower (1/2 - 1) Motors
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
    8.8    Global Electric Motor Market by Integral Horsepower
        8.8.1    Integral Horsepower (1 - 5) Motors
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Integral Horsepower (10 - 50) Motors
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
        8.8.3    Integral Horsepower (50 - 100) Motors
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2016-2020)
            8.8.3.3    Forecast Trend (2021-2026)
        8.8.4    Integral Horsepower (>100) Motors
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2016-2020)
            8.8.4.3    Forecast Trend (2021-2026)
    8.9    Global Electric Motor Market by Magnet Type
        8.9.1    Ferrite
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2016-2020)
            8.9.1.3    Forecast Trend (2021-2026)
        8.9.2    Neodymium (NdFeB)
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2016-2020)
            8.9.2.3    Forecast Trend (2021-2026)
        8.9.3    Samarium Cobalt (SmCo5 and Sm2Co17)
            8.9.3.1    Market Share
            8.9.3.2    Historical Trend (2016-2020)
            8.9.3.3    Forecast Trend (2021-2026)
    8.10    Global Electric Motor Market by Weight
        8.10.1    Low Weight Motors
            8.10.1.1    Market Share
            8.10.1.2    Historical Trend (2016-2020)
            8.10.1.3    Forecast Trend (2021-2026)
        8.10.2    Medium Weight Motors
            8.10.2.1    Market Share
            8.10.2.2    Historical Trend (2016-2020)
            8.10.2.3    Forecast Trend (2021-2026)
        8.10.3    High Weight Motors
            8.10.3.1    Market Share
            8.10.3.2    Historical Trend (2016-2020)
            8.10.3.3    Forecast Trend (2021-2026)
    8.11    Global Electric Motor Market by Speed
        8.11.1    Ultra-High-Speed Motors
            8.11.1.1    Market Share
            8.11.1.2    Historical Trend (2016-2020)
            8.11.1.3    Forecast Trend (2021-2026)
        8.11.2    High-Speed Motors
            8.11.2.1    Market Share
            8.11.2.2    Historical Trend (2016-2020)
            8.11.2.3    Forecast Trend (2021-2026)
        8.11.3    Medium Speed Motors
            8.11.3.1    Market Share
            8.11.3.2    Historical Trend (2016-2020)
            8.11.3.3    Forecast Trend (2021-2026)
        8.11.4    Low Speed Motors
            8.11.4.1    Market Share
            8.11.4.2    Historical Trend (2016-2020)
            8.11.4.3    Forecast Trend (2021-2026)
    8.12    Global Electric Motor Market by Application
        8.12.1    Industrial Machinery
            8.12.1.1    Market Share
            8.12.1.2    Historical Trend (2016-2020)
            8.12.1.3    Forecast Trend (2021-2026)
        8.12.2    HVAC
            8.12.2.1    Market Share
            8.12.2.2    Historical Trend (2016-2020)
            8.12.2.3    Forecast Trend (2021-2026)
        8.12.3    Transportation
            8.12.3.1    Market Share
            8.12.3.2    Historical Trend (2016-2020)
            8.12.3.3    Forecast Trend (2021-2026)
        8.12.4    Household Appliances
            8.12.4.1    Market Share
            8.12.4.2    Historical Trend (2016-2020)
            8.12.4.3    Forecast Trend (2021-2026)
        8.12.5    Motor Vehicles
            8.12.5.1    Market Share
            8.12.5.2    Historical Trend (2016-2020)
            8.12.5.3    Forecast Trend (2021-2026)
        8.12.6    Aerospace
            8.12.6.1    Market Share
            8.12.6.2    Historical Trend (2016-2020)
            8.12.6.3    Forecast Trend (2021-2026)
        8.12.7    Marine
            8.12.7.1    Market Share
            8.12.7.2    Historical Trend (2016-2020)
            8.12.7.3    Forecast Trend (2021-2026)
        8.12.8    Robotics
            8.12.8.1    Market Share
            8.12.8.2    Historical Trend (2016-2020)
            8.12.8.3    Forecast Trend (2021-2026)
        8.12.9    Others
    8.13    Global Electric Motor Market by Region
        8.13.1    Market Share
            8.13.1.1    North America
            8.13.1.2    Europe
            8.13.1.3    Asia Pacific
            8.13.1.4    Latin America
            8.13.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Key Players
    12.3    Company Profiles
        12.3.1    ABB Limited
            12.3.1.1    Company Overview
            12.3.1.2    Product Portfolio
            12.3.1.3    Demographic Reach and Achievements
            12.3.1.4    Certifications
        12.3.2    Siemens AG
            12.3.2.1    Company Overview
            12.3.2.2    Product Portfolio
            12.3.2.3    Demographic Reach and Achievements
            12.3.2.4    Certifications
        12.3.3    Nidec Corporation
            12.3.3.1    Company Overview
            12.3.3.2    Product Portfolio
            12.3.3.3    Demographic Reach and Achievements
            12.3.3.4    Certifications
        12.3.4    WEG S.A.
            12.3.4.1    Company Overview
            12.3.4.2    Product Portfolio
            12.3.4.3    Demographic Reach and Achievements
            12.3.4.4    Certifications
        12.3.5    Regal Beloit Corporation
            12.3.5.1    Company Overview
            12.3.5.2    Product Portfolio
            12.3.5.3    Demographic Reach and Achievements
            12.3.5.4    Certifications
        12.3.6    Others
13    Industry Events and Developments


List of Figures and Tables1.    Global Electric Motor Market: Key Industry Highlights, 2016 and 2026
2.    Global Electric Motor Historical Market: Breakup by Type (USD Billion), 2016-2020
3.    Global Electric Motor Market Forecast: Breakup by Type (USD Billion), 2021-2026
4.    Global Electric Motor Historical Market: Breakup by Voltage (USD Billion), 2016-2020
5.    Global Electric Motor Market Forecast: Breakup by Voltage (USD Billion), 2021-2026
6.    Global Electric Motor Historical Market: Breakup by Rated Power (USD Billion), 2016-2020
7.    Global Electric Motor Market Forecast: Breakup by Rated Power (USD Billion), 2021-2026
8.    Global Electric Motor Historical Market: Breakup by Fractional Horsepower (USD Billion), 2016-2020
9.    Global Electric Motor Market Forecast: Breakup by Fractional Horsepower (USD Billion), 2021-2026
10.    Global Electric Motor Historical Market: Breakup by Integral Horsepower (USD Billion), 2016-2020
11.    Global Electric Motor Market Forecast: Breakup by Integral Horsepower (USD Billion), 2021-2026
12.    Global Electric Motor Historical Market: Breakup by Magnet Type (USD Billion), 2016-2020
13.    Global Electric Motor Market Forecast: Breakup by Magnet Type (USD Billion), 2021-2026
14.    Global Electric Motor Historical Market: Breakup by Weight (USD Billion), 2016-2020
15.    Global Electric Motor Market Forecast: Breakup by Weight (USD Billion), 2021-2026
16.    Global Electric Motor Historical Market: Breakup by Speed (USD Billion), 2016-2020
17.    Global Electric Motor Market Forecast: Breakup by Speed (USD Billion), 2021-2026
18.    Global Electric Motor Historical Market: Breakup by Application (USD Billion), 2016-2020
19.    Global Electric Motor Market Forecast: Breakup by Application (USD Billion), 2021-2026
20.    Global Electric Motor Historical Market: Breakup by Region (USD Billion), 2016-2020
21.    Global Electric Motor Market Forecast: Breakup by Region (USD Billion), 2021-2026
22.    North America Electric Motor Historical Market: Breakup by Country (USD Billion), 2016-2020
23.    North America Electric Motor Market Forecast: Breakup by Country (USD Billion), 2021-2026
24.    Europe Electric Motor Historical Market: Breakup by Country (USD Billion), 2016-2020
25.    Europe Electric Motor Market Forecast: Breakup by Country (USD Billion), 2021-2026
26.    Asia Pacific Electric Motor Historical Market: Breakup by Country (USD Billion), 2016-2020
27.    Asia Pacific Electric Motor Market Forecast: Breakup by Country (USD Billion), 2021-2026
28.    Latin America Electric Motor Historical Market: Breakup by Country (USD Billion), 2016-2020
29.    Latin America Electric Motor Market Forecast: Breakup by Country (USD Billion), 2021-2026
30.    Middle East and Africa Electric Motor Historical Market: Breakup by Country (USD Billion), 2016-2020
31.    Middle East and Africa Electric Motor Market Forecast: Breakup by Country (USD Billion), 2021-2026
32.    Global Electric Motor Market Structure

Key Questions Answered in the Report

In 2020, the global electric motor market attained a value of nearly USD 105.88 billion. 

The industry is projected to grow at a CAGR of 3.8% between 2021 and 2026.

The major drivers of the industry, such as growing electrification, growing automobiles industry, rapid urbanisation, the rising shift towards industrial automation, increasing demand from the developing regions, and growing technological advancements, are expected to aid the market growth.

The key market trends guiding the growth of the electric motor market include the launch of energy saving and high-efficiency motors, coupled with the surge in demand for hybrid and electric vehicles.

The major regional markets are North America, Europe, the Asia Pacific, Latin America and the Middle East and Africa, with the Asia Pacific accounting for the largest market share.

AC electric motors is the leading electric motor type in the industry.

Low, medium and high voltage are the major segments based on product voltage.

Fractional horsepower and integral horsepower are the major segments based on rated power of the product.

Ferrite, neodymium (NdFeB), and samarium cobalt (SmCo5 and Sm2Co17) are the significant magnet types found in the industry. 

Low, medium, and high weight are the major segments based on weight of the product.

The major segments based on speed of electric motor are ultra-high speed, high speed, medium speed, and low speed. 

The major applications of electric motors include industrial machinery, HVAC, transportation, household appliances, motor vehicles, aerospace, marine, and robotics. 

The major players in the industry are ABB Limited, Siemens AG, Nidec Corporation, WEG S.A., and Regal Beloit Corporation, among others.

Analyst Review

The global electric motor market attained a value of around USD 105.88 billion in 2020, driven by the electrification of various end-user sectors, and rapid technological development. Aided by the growing demand for energy saving motors and increasing sales of electric vehicles, the market is expected to witness a moderate growth in the forecast period of 2021-2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the industry can be divided into AC and DC electric motors, among others, with AC segment accounting for the largest share of the market. On the basis of voltage, the industry can be categorised into low voltage, medium voltage, and high voltage. On the basis of rated power, the industry can be bifurcated into fractional horsepower and integral horsepower. Based on magnet type, the industry is categorised into ferrite, neodymium (NdFeB), and samarium cobalt (SmCo5 and Sm2Co17). On the basis of weight, the industry can be categorised into low weight, medium weight, and high weight. On the basis of speed, the industry can be segmented into ultra-high speed, high speed, medium speed, and low speed. On the basis of application, the industry can be divided into industrial machinery, HVAC, transportation, household appliances, motor vehicles, aerospace, marine, and robotics, among others. The major regional markets for electric motor are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include ABB Limited, Siemens AG, Nidec Corporation, WEG S.A., Regal Beloit Corporation, and 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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