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Global electric motor market reached a value of nearly USD 103.1 Billion in 2019

An electric motor is an electro-mechanical device that works on the principle of electromagnetic induction. It comprises rotors, stators, bearings, windings, commutators and has low maintenance and energy requirements. It is more economical and has long operating life as compared to its non-electric counterparts. Owing to this, it is widely utilized in fans, pumps, compressors, machine tools, electric cars, power tools, automated robots, turbines, alternators, and rolling and paper mills across the globe.

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Global Electric Motor Market Drivers/Constraints:

Electric motors are used in the manufacturing of robots to provide angular movements, acceleration, speed and control. They are also utilized in energy-efficient compressor and conveyor systems. Apart from this, electric motors are used in industrial machinery, aerospace, transportation, household appliances, and heating, ventilating and air conditioning (HVAC) equipment. Furthermore, governments of several countries are promoting the usage of electric vehicles on account of rising environmental concerns. This is expected to create a positive outlook for the market growth in the upcoming years.

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Electric Motor Market Segmentation

Market Performance by Voltage

1. Low Voltage Electric Motors
2. Medium Voltage Electric Motors
3. High Voltage Electric Motors

Market Performance by Rated Power

1. Fractional Horsepower Motors
2. Integral Horsepower Motors

Market Performance by Fractional Horsepower

1. Fractional Horsepower (< 1/8) Motors
2. Fractional Horsepower (1/8 – 1/2) Motors
3. Fractional Horsepower (1/2 – 1) Motors

Market Performance by Integral Horsepower

1. Integral Horsepower (1 – 5) Motors
2. Integral Horsepower (10 – 50) Motors
3. Integral Horsepower (50 – 100) Motors
4. Integral Horsepower (>100) Motors

Market Performance by Magnet Type

1. Ferrite
2. Neodymium (NdFeB)
3. Samarium Cobalt (SmCo5 and Sm2Co17)

Market Performance by Region

1. Asia-Pacific
2. North America
3. Europe
4. Middle East and Africa
5. Latin America

Market Performance by Weight

1. Low Weight Motors
2. Medium Weight Motors
3. High Weight Motors

Market Performance by Speed

1. Ultra-High-Speed Motors
2. High-Speed Motors
3. Medium Speed Motors
4. Low-Speed Motors

Market Performance by Applications

1. Industrial Machinery
2. HVAC
3. Transportation
4. Household Appliances
5. Motor Vehicles
6. Aerospace
7. Marine
8. Robotics
9. Others

The global electric motor market is essentially fragmented with the presence of numerous small and large manufacturers who compete in terms of price and quality. Some of the leading players operating in the market are: ABB Group (NYS: US:ABB), Siemens Ag, WEG SA, TECO, Regal Beloit Corporation and Nidec Corporation

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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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