Electric Motors Market Analysis and Forecast Industry Trends, Market Segments | Industry Landscape, Key Players Analysis - 2023

Market Highlights:

Electric motors are the devices that work on the electro-magnetic induction principle by ensuring conversion of electrical energy into mechanical energy. Electric motors are widely used in HVAC applications, compressors, machine tools, pumps, domestic appliances, industrial fans, lathe machines, electric cars, disk drives, power tools, and automated robots. These high-efficiency motors gain importance over standard motors due to longer operating life, low energy consumption, low maintenance, and high endurance for fluctuating voltages, and others.

The increase in the utilization of electric motors by the rapidly expanding agricultural sector is also anticipated to contribute to the growth of the electric motors market. The upsurge in use of electric motors by numerous industrial machineries and household applications is also projected to propel the growth of the market. The increasing utilization of the electric motors by numerous end-use industries and the flourishing automobile sector, which is a major end-use of electric motors, is anticipated to drive the market of the electric motors over the forecast period.

The report for Electric motors market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.

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Market Segmentations:-

Global electric motors market has been segmented based on type, voltage, output power, end-use and region. Based on type the market is segmented into AC motor, DC motor and Hermetic motor. Among these AC motors, is projected to dominate the global electric motors market through 2023. The dominant position of this segment can be attributed to its wide application in all end-use sector. Based on voltage the market is segmented into Up to 1 kV, 1 kV–6.6 kV and Above 6.6 kV. Up to 1 kV dominated the market in 2016 and is projected to be the fastest-growing operation segment for electric motors. Up to 1 kV motors are extensively used for small-scale application in all end-use applications, they are cost-effective and largely manufactured by local and prominent players.

Industry Major Key Players:-

The key players of global electric motors market are 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), and 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.), and Toshiba International Corporation (U.S.) are among others.

Table Of Content:-

1 Executive Summary

2 Research Methodology

2.1 Scope Of The Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

Contnued…

LIST OF FIGURES

FIGURE 1 RESEARCH OUTPUT POWER

FIGURE 2 GLOBAL ELECTRIC MOTORS MARKET: BY TYPE (%)

FIGURE 3 GLOBAL ELECTRIC MOTORS MARKET: BY OUTPUT POWER (%)

FIGURE 4 GLOBAL ELECTRIC MOTORS MARKET: BY APPLICATION (%)

Contnued…

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Regional Analysis of Electric motors market:-

Asia-Pacific is expected to dominate the global Electric motors market due the boom in the manufacturing industries in the region. The constant setting up and up gradation of manufacturing sector and the increasing emphasis of adoption of energy efficient electric motors in the region is expected to contribute to the growth of the electric motors market in the region. The developed nations such as North America and Europe are becoming more aware and have increased the use of electric motors owing to its increased energy efficiency and the low cost of electric motors.

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