Global Electric Motor Market Report to 2030 – Opportunity Analysis and Industry Forecasts
DUBLIN–(BUSINESS WIRE)–The “Electric Motor Market by Motor Type, Output Power and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.
The global electric motor market size was valued at $106.3 billion in 2020, and is expected to reach $207.3 billion by 2030, with a CAGR of 6.7% from 2021 to 2030.
Electric motor is compact in size, and converts electrical energy into mechanical energy. Electric motor is used in various applications such as fans, electric shavers, electric toothbrushes, robots, electric pumps, and windshield scrubber. Micromotor find applications in industries such as automotive, robotics, pharmaceutical, and healthcare. It is small in size, lightweight, and has high torque.
The features of electric motor such as high efficiency, high torque, durability, outstanding controllability, and reliability boost its adoption in many industrial applications. Increase in demand for electric motor from electric vehicles, robotics technology, and HVAC applications are some of the key factors that fuel the market growth.
Electric motor is assembled in compressors, pumps, automotive, machine tools, lathe machines, disk drives, power tools, domestic appliances, and electric cars. Despite their high cost, these highly efficient motors are preferred over standard motors due to varied benefits such as longer operating life, low energy consumption, low maintenance, and high tolerance to voltage fluctuations. The need for improved productivity and low power consumption by the applications of electric motor is expected to increase the demand for high-efficiency motor.
However, slow-down in the automotive industry and high initial capital investment are expected to restraint the growth of the electric motor market. Furthermore, rise in demand for electric motor from robotics and automated robot technologies is anticipated to provide lucrative opportunities for growth of the electric motor market.
The global electric motor market is segmented into motor type, output power, application, and region. On the basis of motor type, the market is divided into alternate current (AC) motor and direct current (DC) motor. Depending on output power, the market is divided into integral horsepower (IHP) output and fractional horsepower (FHP) output. By application, the market is divided into automotive, HVAC, medical equipment, industrial machinery, home appliances, and others.
Region wise the global motor market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global electric motor market share, and is anticipated to secure a leading position during the forecast period.
Key Benefits
- The report provides an extensive analysis of the current trends and future estimations.
- Extensive analysis of global electric motor market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global electric motor market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within the global electric motor market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global electric motor market
Market Dynamics
Drivers
- Increase in demand for energy-efficient electric motors
- Rise in awareness about electric and green vehicles among customers
Restraints
- High initial cost and maintenance of electric motors
Opportunity
- Improvement in design methods to reduce carbon emissions
Market Segments
By Motor Type
- Alternate Current (AC) Motor
- Direct Current (DC) Motor
By Output Power
- Integral Horsepower (IHP) Output
- Fractional Horsepower (FHP) Output
By Application
- Automotive
- HVAC
- Medical Equipment
- Industrial Machinery
- Home Appliance
- Other
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- ABB
- ARC Systems Inc.
- Denso Corporation
- Emerson Electric Co.
- Johnson Electric Holdings Limited
- Maxon
- Nidec Corporation
- Regal Rexnord Corporation
- Rockwell Automation, Inc.
- Siemens
For more information about this report visit https://www.researchandmarkets.com/r/ughr4s
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