Electric Motor Market Industry Growth, Trends, Top Organizations and Forecast 2022-2027

Electric Motor Market

The IMARC Group provides extensive analysis of the electric motor industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on electric motor market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

Informed covered in the report:

  • Historical market data from 2016-2021
  • CAGR of the market during the forecast period 2022-2027
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the Keyword market size and its contribution to the parent market
  • Upcoming market trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on key players
  • Comprehensive details of factors that will challenge the growth of smart meters market key players

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The global electric motor market reached a value of US$ 108.8 Billion in 2021. Electric motors are electro-mechanical machines that work on the principle of electromagnetic induction. Compared to a fossil-fuel engine, electric motors offer better cost-effectiveness, consume lesser energy, require lower maintenance, provide higher endurance for fluctuating voltages, etc. As a result, electric motors find widespread applications across diverse industries ranging from automobiles to oil and gas, where they are installed in machine tools, compressors, electric cars, industrial fans, etc.

Electric Motor Market Trends:

Electric motors are used as an essential component in the production of pumps, fans and compressors, which are further utilized in HVAC systems. Due to extreme climatic conditions across the globe, the demand for HVAC systems increases, thereby augmenting the growth of the electric motors market. The global market is further bolstered by the escalating demand for electric vehicles supported by growing environmental concerns and inflating purchasing power of the consumers. Furthermore, numerous initiatives are being undertaken by the government bodies to promote the adoption of electric vehicles for minimizing carbon emissions, thereby providing a positive outlook to the market. Besides this, the introduction of numerous large-scale construction projects will continue to drive the global market for electric motors in the coming years. Looking forward, IMARC Group expects the electric motor market to reach US$ 140.85 Billion by 2027, exhibiting at a CAGR of 4.25% during 2022-2027.

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

Competitive Landscape with Key Players:

  • ABB Group
  • Siemens Ag
  • WEG SA
  • TECO
  • Regal Beloit Corporation 
  • Nidec Corporation.

Breakup by Motor Type:

  • AC Motor 
    • Induction AC Motor
    • Synchronous AC Motor
  • DC Motor
    • Brushed DC Motor
    • Brushless DC Motor
  • Others

Breakup by Voltage:

  • Low Voltage Electric Motors
  • Medium Voltage Electric Motors
  • High Voltage Electric Motors

Breakup by Rated Power:

  • Fractional Horsepower Motors
    • Fractional Horsepower (< 1/8) Motors
    • Fractional Horsepower (1/8 – 1/2) Motors
    • Fractional Horsepower (1/2 – 1) Motors
  • Integral Horsepower Motors
    • Integral Horsepower (1 – 5) Motors
    • Integral Horsepower (10 – 50) Motors
    • Integral Horsepower (50 – 100) Motors
    • Integral Horsepower (>100) Motors

Breakup by Magnet Type:

  • Ferrite
  • Neodymium (NdFeB)
  • Samarium Cobalt (SmCo5 and Sm2Co17)

Breakup by Weight:

  • Low Weight Motors
  • Medium Weight Motors
  • High Weight Motors

Breakup by Speed:

  • Ultra-High-Speed Motors
  • High-Speed Motors
  • Medium Speed Motors
  • Low Speed Motors

Breakup by Application:

  • Industrial Machinery
  • HVAC
  • Transportation
  • Household Appliances
  • Motor Vehicles
  • Aerospace
  • Marine
  • Robotics
  • Others

Breakup by Region:

  • Asia-Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

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Key highlights of the report:                                                    

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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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