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Electric Motor Market Segmentation By Type Outlook (AC Motor, Synchronous AC Motor and Induction AC Motor, DC Motor; Brushed DC Motor and Brushless DC Motor, Hermetic Motor), By Power Output Outlook (Integral HP Output and Fractional HP Output), and By Application Outlook (Industrial Machinery, Motor Vehicles, HVAC Equipment, Aerospace & Transportation, Household Appliances, and Others) and forecast to 2022 to 2027

Published: January, 2022
ID: 9530
Pages: 175

Market Overview

The global electric motor market is expected to grow significantly during the forecast period and to get valued around USD 167.03 Billion by 2026, recording a CAGR of 5.7%. 

An electric motor is a machine that can convert electrical energy into mechanical energy. Mostly, this electric motor operates by the interaction between the electric current in a wire winding and the motor's magnetic field to generate force in the form of the shaft which rotates. Electric motors are powered by direct current (DC) sources like from batteries, rectifiers or motor vehicles, or by alternating current (AC) sources like power electrical generators, inverters or grid. These electric generators are mechanically identical to the electric motor which operates in the opposite direction by converting mechanical energy into electrical energy.

The growth of the market owes to the rising awareness about the green vehicles among consumers, coupled with the penetration of government incentives for encouraging the sales of green cars to save the environment from carbon emissions. And these electric motors have been witnessing several advancements in their technologies from the past few years. Moreover, improved operational efficiency and life of the product due to the advent of better insulation materials were driving the target market. And the global electric motor market is estimated to surge with the rise in automobile production over the forecast period owing to the advancements in the vehicles which are powered by electric motors that have zero emissions, enabling convenient refueling & recharging. It produces lower noise compared to gasoline vehicles.

Recent Developments

• Siemens AG has completed the grid connection of the 50-megawatt solar plant of Gharo Solar Ltd. in the Thatta district of Pakistan's Sindh Province with the 132 kilovolts (kV) grid station. This grid station was equipped with digital technology which enhances reliability and controllability while suppressing the operating expenses.

• Mitsubishi Elevator India Private Limited has announced that it has offered a significant order from the AIIMS (All India Institute of Medical Science) in Bilaspur, Himachal Pradesh that consists of 64 elevators, which includes 48 models that are exclusive to the Indian market.

Drivers and Restraints

Rapid digitalization coupled with increasing automation across various industries are creating the demand for electric motor combined with the benefits of them like low maintenance requirements, long life, and automated control are the major factors that are driving the target market.

Proliferating applications of electric motors across diverse applications which includes commercial, industrial, & residential sector and the growing demand for such motors as well as replacing conventional fuel-based engine are the other factors that are propelling the electric motor market's growth.

The rising demand for electric home appliances like refrigerator, air conditioner, water cooler, washing machine, microwave oven, electric fan, and vacuum cleaner among others are affecting the electric motor market growth positively. And the emerging economies starting multiple initiatives to reduce CO2 emission from vehicles by adopting electric vehicles, thereby enhancing the market growth over the forecast timeframe.

However, stringent government regulations and policies are the major restraints that re challenging the electric motor market's growth. Moreover, rapid urbanization of households is creating some lucrative growth opportunities for the global electric motors market.

Market Segmentation

Electric Motor Sales Type

• AC Motor

◦ Synchronous AC Motor

◦ Induction AC Motor

• DC Motor

◦ Brushed DC Motor

◦ Brushless DC Motor

• Hermetic Motor

In the motor type segmentation of the global electric motor market, AC motor segment held the largest market share in terms of value. It is also expected that the electric motor market to lead the market value over the coming years as well. Rising production of motor vehicles, coupled with the growing adoption of motors that are energy efficient for industrial applications, are the core factors that are fuelling the growth of this segment.

Electric Motor Sales Power Output

• Integral HP Output

• Fractional HP Output

From the power output segmentation, the fractional horsepower output motor segment has accounted for the larger revenue share from the past few years. The growth of this segment is attributed to the full range of applications of these fractional horsepower motors in electronic goods and automotive sectors.

Electric Motor Sales Application 

• Industrial Machinery

• Motor Vehicles

• HVAC Equipment

• Aerospace & Transportation

• Household Appliances

• Other

In the application outlook segmentation, motor vehicles have acquired a significant share of the global electric motor market share in terms of revenue. Demand for the combustion-engine vehicles and rising adoption of electric cars propelled by increasing fuel prices and global warming concerns are the primary reasons for the growth of the target market owing to their usage in the electric vehicles which are eco-friendly & economical too

Market Regional analysis

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

In the regional analysis of the global electric motor market, North America has the highest market revenue share and is assumed to continue its dominance over the forecast period. The growth of this market is due to the industrial expansions and growth of the aerospace industry. Moreover, the US is a leading country in the electric motor market which is the presence of it is boosting the market growth in this region.

Key Players

  • ABB GROUP
  • ALLIED MOTION TECHNOLOGIES, INC.
  • AMETEK, INC.
  • ARC SYSTEMS INC.
  • BROOK CROMPTON UK LTD. (SUBSIDIARY BROOK CROMPTON HOLDINGS)
  • DENSO CORPORATION
  • FAULHABER
  • EMERSON ELECTRIC CO.
  • FRANKLIN ELECTRIC CO., INC.
  • JOHNSON ELECTRIC HOLDINGS LTD.
  • MAXON MOTORS AG
  • NIDEC CORPORATION
  • REGAL BELOIT CORPORATION
  • ROCKWELL AUTOMATION INC.
  • SIEMENS

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Electric Motor Market, By Type                   

                    6.1.1 AC Motor       

                    6.1.2 DC Motor      

                    6.1.3 Hermetic Motor       

                    6.1.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.5 Y-o-Y Growth Rate Analysis         

                    6.1.6 Market Attractiveness Index         

          6.2 Electric Motor Market, By Power Output               

                    6.2.1 Integral HP Output   

                    6.2.2 Fractional HP Output

                    6.2.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.4 Y-o-Y Growth Rate Analysis         

                    6.2.5 Market Attractiveness Index         

          6.3 Electric Motor Market, By Application                   

                    6.3.1 Industrial Machinery 

                    6.3.2 Motor Vehicles         

                    6.3.3 HVAC Equipment     

                    6.3.4 Aerospace      

                    6.3.5 Transportation         

                    6.3.6 Household Appliances        

                    6.3.7 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.8 Y-o-Y Growth Rate Analysis         

                    6.3.9 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Type         

                    7.2.3 By Power Output      

                    7.2.4 By Application

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Power Output      

                    7.3.4 By Application

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Power Output      

                    7.4.4 By Application

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Power Output      

                    7.5.4 By Application

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Type         

                    7.6.3 By Power Output      

                    7.6.4 By Application

8. Key Player Analysis                           

          8.1 ABB GROUP                

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 ALLIED MOTION TECHNOLOGIES, INC.                  

          8.3 AMETEK, INC              

          8.4 ARC SYSTEMS INC.                

          8.5 BROOK CROMPTON UK LTD             

          8.6 DENSO CORPORATION           

          8.7 FAULHABER                

          8.8 EMERSON ELECTRIC CO                   

          8.9 FRANKLIN ELECTRIC CO., INC.         

          8.10 JOHNSON ELECTRIC HOLDINGS LTD.                  

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  1. Global Electric Motor Market By Region, From 2022 - 2027 ( USD Billion )
  2. Global Electric Motor Market By Type, From 2022 - 2027 ( USD Billion )
  3. Global AC Motor Market By Region, From 2022 - 2027 ( USD Billion )
  4. Global DC Motor Market By Region, From 2022 - 2027 ( USD Billion )
  5. Global Hermetic Motor Market By Region, From 2022 - 2027 ( USD Billion )
  6. Global Electric Motor Market By Power Output, From 2022 - 2027 ( USD Billion )
  7. Global Integral HP Output Market By Region, From 2022 - 2027 ( USD Billion )
  8. Global Fractional HP Output Market By Region, From 2022 - 2027 ( USD Billion )
  9. Global Electric Motor Market By Application, From 2022 - 2027 ( USD Billion )
  10. Global Industrial Machinery Market By Region, From 2022 - 2027 ( USD Billion )
  11. Global Motor Vehicles Market By Region, From 2022 - 2027 ( USD Billion )
  12. Global HVAC Equipment Market By Region, From 2022 - 2027 ( USD Billion )
  13. Global Aerospace Market By Region, From 2022 - 2027 ( USD Billion )
  14. Global Transportation Market By Region, From 2022 - 2027 ( USD Billion )
  15. Global Household Appliances Market By Region, From 2022 - 2027 ( USD Billion )
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