Electric Motor Market to Witness Robust Expansion by 2028

The global electric motor market is anticipated to grow at a CAGR of 6.5% during the forecast period. Electrical motors are used as a power source for several applications including transportation, power, and other sectors, allowing it to diversify and strengthen its position in the global market. The demand for power has grown significantly across the globe, which directly bolsters the demand for electric motors. Furthermore, the introduction of electric vehicles (EVs) and the rising demand for automobiles supported the growth of the market during the forecast period. According to the US Department of Transportation (DOT), the total motor vehicle production accounted for in 2021 is 9.1 million and in 2020 the total production accounted for 8.8 million, which shows the demand for automobiles is increasing. Key players serving the market is also contributing to the growth by adopting various strategies such as mergers, +acquisition, new product launches, collaboration, and others to stay competitive in the market. For instance, in October 2022, Turbo Power Systems Ltd, designing and manufacturing customized power electronics and electrical machines, signed a partnership agreement with the Indian Power Electronics manufacturing company, Station Energia (SE). The partnership aims to combine their respective expertise in the development, manufacture, and sale of power electronics products for the energy, rail, and defense markets.

Moreover, in June 2021, Mabuchi Motor Co. Ltd. acquired Electromag SA, a Swiss-based manufacturer of brushless motors for healthcare applications. The acquisition aims to expand the business for wellness and healthcare applications and develop new electric brushless motor products. Electromag's cutting-edge solutions and technology enable to development of brushless motors with unique characteristics such as ultra-quiet, low vibration, and high speed, that are perfectly suited for medical device applications. By leveraging Electromag's technologies and expertise in healthcare applications, Mabuchi Motor Co. Ltd will accelerate its business in the healthcare industry. 

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Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028

Segment Covered- 

By Current Type
By Rotor Type
By Power Output
By End-Users

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- including ABB Group, ARC Systems, Inc., Asmo Co., Ltd., DENSO Corp., Emerson Electric Co., GE Group, Hitachi, Ltd., Johnson Electric Holdings Ltd., and others. 

Electric Motor Market Report Segment

By Current Type

Alternate Current (AC) 
Direct Current (DC) 
By Rotor Type 
Inner Rotor
Outer Rotor

By Power Output  

Fractional Horsepower (Up to 1HP)
Integral Horsepower (Above 1HP)

By End-Users 

Industrial
Commercial
Residential
Transportation
Agriculture

A full Report of Electric Motor Market is Available @  https://www.omrglobal.com/industry-reports/electric-motor-market

Electric Motor Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

ABB Group
ARC Systems, Inc.
Asmo Co., Ltd.
DENSO Corp.
Emerson Electric Co.
GE Group
Hitachi, Ltd.
Johnson Electric Holdings Ltd.
Maxon Group
Nidec Motor Corp.
Regal Rexnord Corp.
Robert Bosch GmbH
Rockwell Automation, Inc.
Siemens AG
TECO-Westinghouse
Toshiba Corp.
WEG Group
Wolong Electric Group

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More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
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