Electric Motor Market Share, Industry Overview, Latest Insights, and Forecast 2022-2027

According to IMARC Group's latest report, titled "Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global electric motor market size reached US$ 108.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 140.85 Billion by 2027, exhibiting at a growth rate (CAGR) of 4.25% during 2022-2027.

Electric motors are electro-mechanical machines that work on the principle of electromagnetic induction. Compared to a fossil-fuel engine, electric motors offer better cost-effectiveness, consume lesser energy, require lower maintenance, provide higher endurance for fluctuating voltages, etc. As a result, electric motors find widespread applications across diverse industries ranging from automobiles to oil and gas, where they are installed in machine tools, compressors, electric cars, industrial fans, etc.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Electric Motor Market Trends:

Electric motors are used as an essential component in the production of pumps, fans and compressors, which are further utilized in HVAC systems. Due to extreme climatic conditions across the globe, the demand for HVAC systems increases, thereby augmenting the growth of the electric motors market. The global market is further bolstered by the escalating demand for electric vehicles supported by growing environmental concerns and inflating purchasing power of the consumers. Furthermore, numerous initiatives are being undertaken by the government bodies to promote the adoption of electric vehicles for minimizing carbon emissions, thereby providing a positive outlook to the market. Besides this, the introduction of numerous large-scale construction projects will continue to drive the global market for electric motors in the coming years.

Electric Motor Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the global electric motor market has also been examined along with the profiles of the key players.

Some of these key players include:

ABB Group
Siemens Ag
WEG SA
TECO
Regal Beloit Corporation
Nidec Corporation.

Key Market Segmentation:

The report has segmented the electric motor market based on Motor type, voltage, rated power, magnet type, weight, speed, application and region.

Breakup by Motor Type:

AC Motor
Induction AC Motor
Synchronous AC Motor
DC Motor
Brushed DC Motor
Brushless DC Motor
Others

Breakup by Voltage:

Low Voltage Electric Motors
Medium Voltage Electric Motors
High Voltage Electric Motors

Breakup by Rated Power:

Fractional Horsepower Motors
Fractional Horsepower (< 1/8) Motors
Fractional Horsepower (1/8 - 1/2) Motors
Fractional Horsepower (1/2 - 1) Motors
Integral Horsepower Motors
Integral Horsepower (1 - 5) Motors
Integral Horsepower (10 - 50) Motors
Integral Horsepower (50 - 100) Motors
Integral Horsepower (>100) Motors

Breakup by Magnet Type:

Ferrite
Neodymium (NdFeB)
Samarium Cobalt (SmCo5 and Sm2Co17)

Breakup by Weight:

Low Weight Motors
Medium Weight Motors
High Weight Motors

Breakup by Speed:

Ultra-High-Speed Motors
High-Speed Motors
Medium Speed Motors
Low Speed Motors
Breakup by Application:
Industrial Machinery
HVAC
Transportation
Household Appliances
Motor Vehicles
Aerospace
Marine
Robotics
Others

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=937&flag=C

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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