Mexico Electric Motor Market Overview, 2029

Mexico Electric Motor Market Overview, 2029

Mexico's economy is heavily dependent on the manufacturing sector, which contributes to the nation's robust industrial foundation. In industrial machinery and equipment utilized in a variety of industries, such as the automotive, aerospace, electronics, food and beverage, and more, electric motors are crucial parts. The need for electric motors for machine tools, conveyors, compressors, pumps, and other applications is being driven by Mexico's expanding industrial sector. With several car factories run by both native and foreign businesses, Mexico is a significant player in the global automobile sector. Power steering systems, air conditioning compressors, hybrid cars, electric vehicles (EVs), and other components are all powered by electric motors, which are essential to automotive applications. The global demand for hybrid and electric cars is rising, which supports the electric motor industry. To cut down on energy use and greenhouse gas emissions, Mexico has enacted energy efficiency rules. Energy-efficient electric motor adoption is influenced by standards like the NEMA Premium Efficiency standards and the NMX-J-549/1-ANCE requirements in a variety of sectors. Modern, high-efficiency motors are replacing older, less efficient ones because energy efficiency is a top priority. In an effort to diversify its energy sources and lessen its reliance on fossil fuels, Mexico has been investing in renewable energy sources including hydroelectricity, solar power, and wind. In renewable energy generating technologies such as hydropower generators, solar panel tracking systems, and wind turbines, electric motors are essential components. Buildings for residential, commercial, and industrial use as well as transportation infrastructure including highways, railroads, and airports are being developed in large quantities in Mexico.

According to the research report, “Mexico Electric Motor Market Overview, 2029,"" published by Bonafide Research, the Mexico Electric Motor market is anticipated to add to more than USD 03.00 Billion by 2024–29. Mexico has become a major center for manufacturing, drawing capital from global firms in a range of sectors. The need for electric motors in machinery and equipment for manufacturing processes is fueled by this increase in the industrial sector. The need for electric motors for machine tools, conveyors, pumps, compressors, and other applications is driven by the growth of production in industries such consumer goods, electronics, automotive, and aerospace. Electric motors are widely used in the automobile industry for a variety of purposes, such as air conditioning compressors, power steering systems, electric and hybrid cars, and more. In an effort to diversify its energy sources and lessen its reliance on fossil fuels, Mexico is investing in renewable energy sources including hydroelectricity, solar power, and wind. In renewable energy generating technologies such as hydropower generators, solar panel tracking systems, and wind turbines, electric motors are essential components. New residential, commercial, and industrial structures as well as transportation infrastructure are being built in Mexico as part of a major infrastructural development. Mexico's electric motor market is anticipated to increase significantly due to factors including industrialization, the expansion of the automotive industry, energy efficiency laws, the integration of renewable energy sources, the development of infrastructure, technical improvements, and market rivalry. Electric motor demand is predicted to stay high across a range of industries as Mexico works to modernize its economy and emphasize sustainability.

AC (alternating current) motors are the most widely used kind of electric motor because of its affordability, dependability, and ease of use in a variety of applications.AC motors are widely used in industrial machinery, HVAC systems, pumps, fans, compressors, conveyors, and other equipment in a variety of industries in Mexico, including utilities, mining, manufacturing, and construction. Applications needing strong starting torque, variable speed operation, and accurate speed control choose DC (direct current) motors. DC motors are utilized in Mexico in a wide range of industrial applications, including robots, electric cars, electric vehicles, material handling equipment, renewable energy systems, and more. Electric motors that are sealed and intended for operation in conditions where exposure to dust, moisture, and other impurities is a problem are known as hermetic motors. Hermetic motors are widely utilized in HVAC (heating, ventilation, and air conditioning) applications in residential, commercial, and industrial settings in Mexico. These applications include refrigeration and air conditioning. The rise in commercial premises, urbanization, building activities, and the growing need for air conditioning and refrigeration systems across a range of industries are the main drivers of the hermetic motor market in Mexico. Mexico’s manufacturers address the unique requirements of the HVACR (heating, ventilation, air conditioning, and refrigeration) sector by producing hermetic motors with specialized designs and materials to assure dependable and efficient performance in challenging settings.

The rise of small-scale manufacturing, urbanization trends, and residential and commercial building activities are the main drivers of demand for motors in this voltage range. The need for motors up to 1 kV rises as metropolitan areas grow and more homes and companies need appliances and machines. Mexican producers create a wide range of motors that are suited to particular consumer and industry demands. They give precedence to elements like cost-effectiveness, dependability, and energy efficiency in order to meet the wide range of market expectations. Mexico’s industrialization, modernization initiatives, and infrastructure development expenditures are driving the need for motors in this voltage range. The need for machinery and industrial equipment driven by motors in the 1 kV–6.6 kV range rises with economic expansion. The primary goals of manufacturers are to provide motors with excellent performance, long durability, and industrial automation system compatibility. In order to satisfy the demands of industrial applications, they also place emphasis on attributes like energy efficiency and simplicity of maintenance. Investments in energy infrastructure, renewable energy projects, and industrial expansions all have an impact on the demand for motors beyond 6.6 kV. The demand for motors in this voltage range is driven by the necessity for dependable and effective motors in essential applications. The goal of manufacturers is to provide high-performance, durable motors that adhere to strict dependability guidelines. Additionally, they offer support services like technical help and maintenance to guarantee the efficient running of motors in crucial industrial applications.

In electric and hybrid cars, electric motors drive wheels and provide torque to facilitate movement. They are the main source of propulsion. The need for electric motors in Mexico is driven by the rising demand for EVs and hybrid cars worldwide as well as by government incentives encouraging their use. In addition, auxiliary systems like power steering, air conditioning compressors, cooling fans, and windshield wipers also employ electric motors. Mexico's automotive industry is expanding because to the country's large number of auto factories. In manufacturing facilities, motors run equipment including pumps, compressors, conveyors, mixers, and machine tools. Trade agreements and the availability of trained labor are two elements that contribute to Mexico's growing manufacturing sector and fuel demand for electric motors in industrial machinery applications. Electric motors power a variety of HVAC (heating, ventilation, and air conditioning) system components that regulate humidity, temperature, and air flow. HVAC systems, which provide ventilation for homes, businesses, and industries by moving air via ducts, are powered by electric motors that drive fans and blowers. The need for HVAC systems is driven by Mexico's increasing urbanization and building activity, which is driving the market for electric motors in this category. Kitchen appliances, vacuum cleaners, washing machines, dishwashers, and refrigerators are all powered by motors. Mexico's demand for electrical appliances is driven by the country's expanding middle class and rising consumer expenditure, which is fueling the growth of the electric motor market in this sector.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Electric Motor market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Motor Type
• AC Motor
• DC Motor
• Hermetic Motors

By Voltage
• Up to 1 kV
• 1 kV-6.6 kV
• Above 6.6 kV

By Application
• Motor Vehicles
• Industrial Machinery
• HVAC Equipment
• Electrical Appliances
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Electric Motor industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.