Electric Motors Market is Expected to Grow to US$ 289.18 Billion by 2032, Registering a CAGR of 7.30%

𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐦𝐨𝐭𝐨𝐫𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 154.42 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2023 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 289.18 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2032, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 7.30% 𝐟𝐫𝐨𝐦 2024-2032.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
An electric motor is a device that converts electrical energy to mechanical energy using the principles of electromagnetism. The electric motor starts working due to the interaction between the magnetic field of the motor and the electric current of the electromagnetic coil wound around the motor in order to produce torque which drives the machine.

𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/electric-motors-market/request-for-sample

Electric motors are used in a variety of industries such as automotive and even in industrial machinery such as conveyor belts and water pumps. Compared to motors powered by fossil fuels, they are more efficient with some even working for 30,000 hours if used properly and release less pollutants in the atmosphere.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:
• The surging demand for automobiles specifically electric vehicles will result in massive expansion and adoption of the electric motors market. Electric motors are an integral component of EV vehicles, helping in driving home the values of electric motors being environment friendly while also prolonging the battery life of the vehicle.

• The industrial machinery sector is also increasingly adopting electric motors for various equipment such as industrial fans, washing machines and even mixers on a large scale. Due to the growing revolution of sustainability and green initiatives, the industrial sector has also taken up this cause.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/electric-motors-market/request-for-discount-pricing

𝐌𝐚𝐣𝐨𝐫 𝐏𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬:
Electric motor market is a lucrative sector due to greater dependence of global industries on efficiency and sustainability. Numerous companies are jumping on this bandwagon in order to keep up with eco-friendly initiatives set forth by regulatory agencies worldwide.
• Allied Motion Technologies, Inc.
• Ametek, Inc.
• Baldor Electric Co.
• Bosch Group
• Denso Corporation
• Emerson Electric Co.
• General Electric Company
• Hitachi, Ltd.
• Regal Beloit Corporation
• Rockwell Automation, Inc.
• Siemens AG

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐨𝐭𝐨𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:
• The AC Motors segment accounted for the largest revenue share in the electric motors market. A significant portion can be attributed to the extensive applications of AC motors, ranging from irrigation pumps to advanced robots. Additionally, their compact design, affordability, and lightweight nature make them widely utilized in HVAC equipment.

• The Fractional HP segment accounted for the highest market share during the forecast period. The widespread prevalence of electric motors can be credited to their versatile applications in a wide range of household appliances, including vacuum cleaners, refrigerators, and coffee machines. Furthermore, they prove valuable in industrial machinery, demonstrating their suitability for resilient performance in demanding industrial environments.

• In 2022, North America dominated the largest market due to the high prevalence of cardiovascular diseases, including coronary artery disease, which drives the demand for coronary stents. Additionally, the region has a well-established healthcare infrastructure and advanced medical technologies, allowing for the widespread adoption and utilization of coronary stents.

• The Asia-Pacific region accounted for the fastest growth in the Coronary Stent Market due to local vendors' active development of technologically advanced and competitively priced coronary stents. It focuses on addressing the market's needs that have contributed to increased market share. The availability of high-quality and affordable stents from local vendors has been a key driver of growth in the region.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/electric-motors-market

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
• The electric motor market is segmented based on output power, type, voltage, end user and region.

• Based on type, the market is segmented into AC motor, DC motor, and hermetic motor, with AC motor segment accounting for the highest revenue share in 2022.

• The output power segment is bifurcated into Fractional HP output and Integral HP output. The fractional HP segment accounted for the highest market share.
Electric Motors Market, Type Outlook (Revenue - USD Billion, 2019-2032)
• AC Motor
o Synchronous AC Motor
o Induction AC Motor
• DC Motor
o Brushed AC Motor
o Brushless AC Motor
• Hermetic Motor

Electric Motors Market, Output Power Outlook (Revenue - USD Billion, 2019-2032)
• Fractional HP Output
• Integral HP Output

Electric Motors Market, Voltage Outlook (Revenue - USD Billion, 2019-2032)
• 9 V & Below
• 10-20 V
• 21-60 V
• 60 V & above

Electric Motors Market, End-User Outlook (Revenue - USD Billion, 2019-2032)
• Automotive
• Agriculture
• Residential
• Commercial
• Industrial
• Others

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Net-Zero Energy Buildings Market:
https://www.polarismarketresearch.com/industry-analysis/net-zero-energy-buildings-market

Air Compressor Market:
https://www.polarismarketresearch.com/industry-analysis/air-compressor-market

Solar Inverters/Pv Inverters Market:
https://www.polarismarketresearch.com/industry-analysis/solar-inverter-pv-inverter-market

Laminated Busbar Market:
https://www.polarismarketresearch.com/industry-analysis/laminated-busbar-market

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