Press release
Global Electric DC Motors Market To Be Driven By Increasing Demand For Motor-Driven Equipment In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.76%
Due to the implementation of industrial automation, the worldwide market for electric DC motors is being pushed by the deployment of electric DC motors in different end use sectors. The market for electric DC motors in industrial applications is growing due to the rising use of 4.0 technologies such as the Industrial Internet of Things (IIoT), logistics automation, and robotics, among others.
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Furthermore, DC motors are simple to install and maintain, which is another factor contributing to the growth of the electric DC motor market. Rising product design innovation and continual technological innovation are shifting the industrial sector to a more mechanical mode of operation, which is favourably impacting the market growth of electric DC motors.
Industry Definition and Major Segments
An electric DC motor is an electric rotary machine that transforms electric energy into mechanical energy and produces mechanical power while being driven by direct current.
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Based on type, the market can be broadly divided into:
• Brushed DC Motors
• Brushless DC Motors
The electric DC motors market can be broadly divided based on its voltage segments into:
• 0-750 Watts
• 750 Watts - 3KW
• 3KW - 75KW
• Above 75KW
Market segmentation on the basis of end use:
• Industrial Machinery
• Motor Vehicles
• HVAC Equipment
• Aerospace and Transportation
• Household Appliances
• Others
On the Basis of region, the market can be divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
Market Trends
The use of electric DC motors in HVAC equipment is expected to drive market growth. The rise in development projects in emerging nations, where HVAC equipment is installed, may be ascribed to the expansion in the global market for electric DC motors.
To achieve great efficiency in ventilation and to maximise the life and power of HVAC systems, electric DC motors are commonly employed in heating, ventilation, and air conditioning systems. Furthermore, electric DC motors generate robust market demand from industrial applications that require speed adjustments and low-speed torque.
Key Market Players
The major players in the market are AMETEK, Inc., Allied Motion Technologies, Inc., ABB Motors and Mechanical Inc., Siemens Ltd., Johnson Electric Holdings Ltd., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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