Global Electric Motors Market By Growth, Industry Size, Trends, Shares, By Top Players, And Forecast 2032
As per the electric motor market report by The Business Research Company, Increased tariffs on raw materials such as steel and aluminum will restrain the market for motor manufacturing in the forecast period. Steel and aluminum are predominantly used in the manufacture of components for motors.
The global electric motors market size will grow from $97.15 billion in 2022 to $102.68 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electric motors market size is expected to grow to $123.54 billion in 2027 at a CAGR of 4.7%.
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Major competitors in the electric motor market include ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc., and Baldor Electric Company, Inc.
The electric motor market is segmented -
• By Type: Alternate Current (AC) Motor, Direct Current (AC) Motor, Hermetic Motor
• By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP)
• By Voltage Range: 9v & Below, 10-20 v, 21-60 v, 60 v And Above
• By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace & Transportation, Household Appliances, Other Commercial Applications
• By Speed: Low-Speed (less than 1,000 rpm), Medium-Speed (1,001 to 25,000 rpm), High-Speed (25,001 to 75,000 rpm), Ultra-High Speed (greater than 75,001 rpm)
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The electric motor is defined as an electric machine that converts electrical energy into mechanical energy and supplies power to the devices. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance.
The Table Of Content For The Electric Motor Market Include:
1. Executive Summary
2. Electric Motors Market Characteristics
3. Electric Motors Market Trends And Strategies
4. Electric Motors Market - Macro Economic Scenario
5. Electric Motors Market Size And Growth
27. Electric Motors Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Motors Market
29. Electric Motors Market Future Outlook and Potential Analysis
The "Global Electric Motor Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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