Electric Motors Market Growth Potential Analysis Report Profiling Companies Like WEG, Nidec Corporation, ABB, Toshiba, and Robert Bosch

Market Study Report adds a new enforcement of stringent regulations to bring down global levels of CO2 emissions and curb the rate of climate change has prompted pivotal automakers to focus more on developing fossil fuel independent vehicles which in turn has stimulated the overall electric motors market share period of 2017-2024 that shows the growth of the market is rising at a Steady CAGR to 2024.

Electric Motors Market is estimated to surpass USD 36 billion by 2024; according to a new research report.

Global electric motor shipments are expected to cross 2 billion units till 2024. High adoption of electric vehicles will primarily drive the industry growth till 2024. Major players from automotive sector are focusing at increasing their electric vehicle production which in turn drive industry demand. For instance, Honda plans to electrify two-third of its vehicle production by 2030. Similarly, Volkswagen aims at accomplishing over 2 million vehicle sales by 2025. These continuous efforts by the OEMs will lead to increased electric motors demand, thus fostering the industry growth.

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Various governments have mandated several targets regarding reduction of CO2 emissions. These targets aim for 95 g CO2/km cap by 2020 and are anticipated to become more stringent beyond 2020. Fulfilling these targets require complete vehicle electrification, strengthening the product penetration over the forecast timeframe. However, operational & supply chain issues coupled with probability of product failure may hamper the electric motors market growth over the forecast timeframe.

Shifting focus towards solar powered consumer goods owing to their benefits is witnessed as an opportunity for industry participants. These benefits include high efficiency and low power consumption. Additionally, government initiatives to promote their usage will support the electric motors demand. For instance, US Department of Energy is investing heavily on the development of superior solar powered products.

Asia Pacific is anticipated to capture approximately 55% of the electric motors market share over the forecast timeframe. Substantial automobile production across the region will mainly drive the regional growth. Focus of automobile industry towards emission reduction and fuel economy enhancement has resulted in implementation of green vehicles in various countries. Moreover, favorable regulatory landscape in the region regarding vehicle electrification will further propel the industry growth. For instance, Indian government has mandated vehicle electrification by 2030 and is forcing automobile OEMs for early planning of the same.

Rising deployment in commercial & passenger vehicles will spur the North America electric motors market over the forecast timeframe. Latin America will grow significantly owing to rising trading activities and availability of cheap labor. MEA will grow at over 3% CAGR from 2017 to 2024. Increasing sales of all-terrain vehicles (ATVs) along with shifting trend towards hybrid vehicles will support the regional growth.

WEG, Nidec Corporation, ABB, Toshiba, and Robert Bosch are among the prominent players in electric motors market. Other notable players include Regal Beloit, Allied Motion Technologies, General Electric, Shandong, and Hyosung.

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Table of Content:

Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry Insights and validation
1.1.4 Scope, definitions, & forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary

Chapter 2 Executive Summary
2.1 Electric motors industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 End-use trends
2.1.4 Regional trends

Chapter 3 Electric Motors Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Manufacturers
3.3.3 System integrators
3.3.4 Profit margin analysis
3.3.5 Distribution channel analysis
3.3.5.1 OEM
3.3.5.2 Aftermarket
3.3.5.3 Repair Services
3.4 Pricing analysis
3.4.1 By region
3.4.1.1 North America
3.4.1.2 Europe
3.4.1.3 LATAM
3.4.1.4 APAC
3.4.1.5 MEA
3.4.2 Pricing parameters
3.4.3 Profit margin points

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Outside scope of this report The enforcement of stringent regulations to bring down global levels of CO2 emissions and curb the rate of climate change has prompted pivotal automakers to focus more on developing fossil fuel independent vehicles which in turn has stimulated the overall electric motors market share. Incentives provided by regional governments on the purchase and use of electric vehicles is also spurring the demand and sale of such vehicles which is encouraging most automotive industry players and OEMs to manufacture commercial and passenger electric vehicles thus adding impetus to the electric motor market growth. Even beyond the automotive industry, consumer preference for electric goods powered by renewable resources has witnessed considerable increase and the electric motors market has garnered considerable profit through this shifting preference. Higher energy efficiency and lower power consumption of such products have won them popularity. The Paris Agreement has also urged governments to set serious considerations for climate change, while regulatory and legislative bodies are making significant investments promoting the use of renewable power sources. Such investments and initiatives have added an extra edge to the revenue generation capacity in the electric motors market.

Realizing the advancement potential of this technology, electric motors industry players are making enormous investments in research and development activities to accelerate the adoption of electric motors in various machines as well as vehicles, consequently leading to greater expansion of the electric motors market. Higher performance as well as cleaner and more cost-effective results of using electric motors will propel the growth of the electric motors market.

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