The global electric motor market size is expected to reach US$ 220 billion by 2030 from US$ 163 billion in 2020 and is expected to grow at an impressive double-digit rate of 7.1% from 2021 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global electric motor Market for the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
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Crucial factors accountable for market growth are:
- Penetration of robotics and automation in end use industries
- Investments in smart factory automation
- Increasing government spending on the waste water management
- The innovation and technological advancement
- The increasing R&D expenditure of the market leaders
Scope of the Electric Motor Market
| Report Coverage | Details |
| Market Size in 2030 | USD 220 Billion |
| Growth Rate between 2021 to 2030 | CAGR of 7.1% |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| By Geography |
|
| Companies Mentioned | ABB Group, General Electric, AMETEK.Inc., Bosch, Siemens AG, ARC Systems, Inc., Rockwell Automation, Inc., Asmo Co., Ltd., Nidec Motor Corporation, DENSO, WEG, Emerson Electric, Toshiba Corporation, Hitachi, Maxon Motors AG |
Report Highlights
- Based on the type, AC segment is the most dominating in the electric motor market due to its advantages such as less maintenance and longer life span.
- The above 1 hp motors is the major contributor in the electric motor market. The factors which are contributing the growth of the above 1 hp segment are their compactness, light weight, and low maintenance requirements.
- The inner rotor segment held the largest share in the electric motor market. These motors are used in robotics, CNC machines, automatic door openers, and metal cutting and forming machine applications in the manufacturing, automotive, and consumer electronics industries
- Based on the end user, the industrial segment held the prominent share in terms of revenue.
Why should you invest in this report?
If you are aiming to enter the global electric motor market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for electric motor are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Market Dynamics
Driver
Electric motors are employed in infrastructure, major structures, and industries all around the world. Each year, almost 30 million motors are sold for industrial use alone. Electric motor makers have been inventing and challenging the worldwide marketplace as the focus has turned to pollution reduction. The business wants to completely rethink electric motor technology for usage in electric automobiles. Last year, Rolls-Royce, Siemens, and Airbus forged a cooperation with the goal of building a near-term flight demonstrator that will be a substantial step forward in commercial aircraft hybrid-electric propulsion.Thus, the innovation and technological advancement will lead to the growth of the electric motors market in the forecast period.
Restraint
A few Chinese manufacturers control the prices of raw materials such as permanent magnets, steel bars, copper wires, and precision thin metals such as specialty alloys, which are needed to create electric motors. There is little product differentiation, and the market dominance of specific providers is determined by the price of the product. The price changes that ensue must be absorbed by the market's other manufacturers/suppliers. For example, when the price of rare-earth permanent magnets fluctuates during the manufacturing process, manufacturers and suppliers are unable to pass the price shift on to end-use customers.
Opportunities
Increasing government support in the form of tax exemptions and incentives to promote eco-friendly electric vehicles powered by electric motors is also providing chances for the electric motor market to flourish. Countries all throughout the world have set 2050 targets for reducing automobile emissions. They have begun to promote the production and sale of electric vehicles as well as related charging infrastructure. The US government, for example, spent $5 billion in 2017 to encourage electric vehicle infrastructure, such as charging stations.Electric vehicles with electric motors are becoming more popular in Europe as a result of aggressive actions done to decarbonize society.These factors are acting as an opportunity in the electric motors market.
Challenges
The market for electric motors is highly fragmented, with a significant number of domestic and international manufacturers. In this industry, product quality is a fundamental criterion for distinction. The regulated market mostly caters to industrial buyers and maintains high product quality, whereas the unorganized market provides low-cost options for tapping local markets. Such factors are the major challenges for the companies who are providing the quality electric motors.
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Recent Developments
- B&R, one of the major providers of machine and factory automation solutions, was acquired by ABB in 2017.
- For example, on January 24, 2019, Bosch acquired full ownership of EM-motive, one of Europe's most successful electric motor producers.
- Nidec Corporation announced an outline for its new subsidiaries on August 3rd, 2021, after purchasing Mitsubishi Heavy Industries Machine Tool Co., Ltd.'s equity.
- Johnson Electric, for example, launched Low Voltage DC Motor Solutions for Smart Furniture on February 5, 2021. Actuators in smart recliners, height-adjustable desks, hospital beds, and other smart furniture products utilize LVDC motor solutions.
The major players operating in the market are ABB Group, Hitachi, WEG, General Electric, Maxon Motors AG AMETEK.Inc., Bosch, Siemens AG, ARC Systems, Inc., Rockwell Automation, Inc., Toshiba Corporation, Asmo Co., Ltd., Nidec Motor Corporation, DENSO, Emerson Electric.
Market Segmentation:
By Type
- Alternate Current (AC)
- Direct Current (DC)
By Output Power
- <1 HP
- >1 HP
By Rotor Type
- Outer Rotor
- Inner Rotor
By End-User
- Industrial
- Residential
- Commercial
- Agriculture
- Transportation
Regional Analysis:
The geographical analysis of the global electric motor market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global electric motor Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global electric motor market in 2030?
- What is the expected CAGR for the electric motor market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global electric motor market?
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Electric Motors Market, By Type
7.1. Electric Motors Market, by Type, 2021-2030
7.1.1. Alternate Current (AC)
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Direct Current (DC)
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Electric Motors Market, By Output Power
8.1. Electric Motors Market, by Output Power, 2021-2030
8.1.1. <1 HP
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. >1 HP
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Electric Motors Market, By Rotor Type
9.1. Electric Motors Market, by Rotor Type, 2021-2030
9.1.1. Outer Rotor
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Inner Rotor
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Electric Motors Market, By End-User Type
10.1. Electric Motors Market, by End-User Type, 2021-2030
10.1.1. Industrial
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Residential
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Commercial
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Agriculture
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Transportation
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Electric Motors Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.1.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.1.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.1.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.1.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.1.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.1.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Type (2017-2030)
11.2.8.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.2.8.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.2.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Type (2017-2030)
11.3.8.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.3.8.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.3.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.7.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Type (2017-2030)
11.4.8.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.4.8.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.4.8.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.5.5.4. Market Revenue and Forecast, by End-User Type (2017-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Type (2017-2030)
11.5.6.2. Market Revenue and Forecast, by Output Power (2017-2030)
11.5.6.3. Market Revenue and Forecast, by Rotor Type (2017-2030)
11.5.6.4. Market Revenue and Forecast, by End-User Type (2017-2030)
Chapter 12. Company Profiles
12.1. ABB Group
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. General Electric
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. ARC Systems, Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Asmo Co., Ltd.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Nidec Motor Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. DENSO
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. WEG
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Emerson Electric
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Toshiba Corporation
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Hitachi
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Bosch
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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