Press release
Latest Electric Motor Market Expected to Grow at 169.1 Billion In Revenue by 2026
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The Electric Motor Market is expected to grow from an estimated USD 113.3 billion in 2020 to USD 169.1 billion by 2026, at a CAGR of 6.9% during the forecast period. This report spread across 223 Pages, Profiling 20 Companies and Supported with 67 Tables and 30 figures are now available in this research.
Top Key Players Profiled in the Electric Motor Market:
• ABB (Switzerland)
• Siemens (Germany)
• Nidec Corporation (Japan)
• Wolong (China)
• WEG (Brazil)
The type segment is categorized as AC motors and DC motors. AC motors are widely used in air conditioners, washers, dryers, industrial machinery, fans, blowers, vacuum cleaners, and other applications. The advantages of AC motors include low cost, speed variation, high power factor, greater reliability, low maintenance, fewer losses, and no requirement to replace brushes.
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The 2.2-375 kW segment is expected to grow at the fastest rate during the forecast period. These medium and high-voltage electric motors are basically used in industries and the transportation sector. They are also suitable for heavy industries, such as oil & gas and mining, where consistency, reliability, and easy maintenance of equipment are required for smooth operations. Medium-voltage motors find major application in the water & wastewater treatment and wind power industries.
Competitive Landscape of Electric Motor Market:
1 Overview
2 Revenue Analysis Of Top 5 Market Players
3 Market Evaluation Framework
4 Key Market Developments
4.1 Product Launches
4.2 Investments & Expansions
4.3 Contracts
4.4 Mergers & Acquisitions
4.5 Partnerships & Collaborations
5 Company Evaluation Quadrant
5.1 Stars
5.2 Innovators
5.3 Pervasive
5.4 Emerging Companies
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Report Coverage:
The report defines, describes, and forecasts the electric motor market, by type, power rating, output power, rotor type, end user and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.
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