Electric Motors Market Overview:
The Global Electric Motors Market size is projected to be worth USD 214.96 billion by 2031, registering a CAGR of 5.32% during the forecast period (2023–2031).
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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Due to the Covid-19 pandemic crisis, there has been a disturbance in the supply chain across the world which would further cause an impact on the market of electric motors along with their value. Consumption across the world has slowed down and there have also been halts in delivery and shortage in labor that further caused the shutdown across the world in the year 2020. This also affected the industry of electric motors to a great extent. The trade wars between China and US along with the supply chain and manufacturing disruption were some of the major sources that caused the disruption to the market. The pandemic condition also affected currencies in all corners of the world. Due to this, there was quite a depreciation that created an imbalance in the expert's and imports' value across the globe. The currency depreciation would further result in a financial loss to the manufacturer’s components and is likely to dampen the market for electric motors to a great extent.
Market Segmentation:
As per the Type
Brush-less DC motorDirect Current (DC) MotorsAlternate Current (AC) MotorsInduction AC motorSynchronous AC motorsBrushed DC motorAs per the Power Rating
Fractional horsepower (FHP) OutputIntegral Horsepower (IHP) OutputAs per the Voltage Range
60 Volts & above10-20 Volts9 Volts & below21-60 VoltsAs per the Speed (RPM)
Ultrahigh-speed electric motors (Greater Than 75,001 RPM)Medium-speed electric motors (1,001-25,000 RPM)Low-speed electric motors (Less Than 1,000 RPM)High-speed electric motors (25,001-75,000 RPM)As per the End User
Other commercial applicationsAerospace & TransportationHeating, ventilating, and cooling equipmentHousehold appliancesIndustrial machineryMotor vehiclesAs per the Region
North AmericaAsia-PacificEuropeMiddle East & AfricaLatin AmericaRegional Classification:
The regional analysis made on the market of the electric motor shows that Asia-pacific witnessing good growth during the forecast timeline because of the fast pace industrialization and commercialization in the region.
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Industry News:
Wolong Electric on March 2020 absorbed small industrial motors of GE business for USD 160 million.
Key Players
ABB Ltd. (Switzerland)Siemens AG (Germany)General Electric Company (U.S.)Nidec Corporation (Japan)Denso Corporation (Japan)Allied Motion Technologies Inc. (U.S.)Ametek Inc. (U.S.)Robert Bosch GmbH (Germany)Emerson Electric Co. (U.S.)Hitachi Ltd. (Japan)Johnson Electric Holdings Limited (Hong Kong)Rockwell Automation (U.S.)WEG S.A. (Brazil)ARC Systems Inc. (U.S.)Toshiba International Corporation (U.S.)
