Electric Motor Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	212 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224234

Best Price Guarantee
Price	from $4,850
Length	212 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224234

Electric Motor Market

Growth Factors of Electric Motor Market

The global electric motor market size was valued at USD 128.35 billion in 2023 and is projected to grow from USD 137.12 billion in 2024 to USD 246.59 billion by 2032, exhibiting a CAGR of 7.61% during the forecast period of 2024-2032.

The pandemic disrupted the Electric Motor Market because of supply chain problems. Still, it boosted the call for sectors like healthcare and electric-powered motors, riding long-term growth via automation and power-efficient answers, impeding the electric motor market growth.

The growth of the Electric Motor Market is driven by the increasing adoption of electric vehicles, growing business automation, demand for power-efficient solutions, and increasing renewable electricity tasks. Additionally, improvements in motor technology and government rules selling strength conservation further raise marketplace expansion.

The electric automobile (EV) marketplace is experiencing a fast boom, driven by growing client demand and environmental worries. This surge in recognition has caused a corresponding boom inside the call for high-performance and efficient electric-powered automobiles, expanding the electric motor market share globally. EV manufacturers are actively developing modern motor designs to optimize factors, which include range, energy, and performance, ensuring that electric automobiles can meet customers' expectations and compete with conventional fuel-powered motors.

Comprehensive Analysis of Electric Motor Market

The Electric Motor Market is segmented into motor kind, strength output, voltage, application, and stop-person. AC cars dominate because of their giant industrial applications, while DC vehicles are gaining traction, especially in electric-powered vehicles. Fractional horsepower motors lead in energy output and are used in small-scale industries, whereas necessary horsepower motors serve large-scale industries. Motors up to 1 kV are established in household appliances, with better voltage cars utilized in commercial and agricultural settings. The motor car segment is the most prominent software place, pushed by investments in electric vehicles and robust calls for industrial and HVAC equipment. Lastly, the transportation quarter leads to a consumer demand reinforced through supportive guidelines for electric automobiles.

The Asia Pacific region led the medical devices market by benefitting a size of USD 46.17 billion in 2023 due to the growing demand from industries like automotive, power, and manufacturing.

The leading players in the electric motor market play a crucial role in shaping its growth trajectory and establishing industry standards. Key companies, including ABB (Switzerland), AMETEK (United States), Johnson Electric (China), Siemens (Germany), Rockwell Automation (United States), GE (United States), Nidec Motor Corporation (Japan), WEG (Brazil), Toshiba Corporation (Japan), Hitachi (Japan), Mitsubishi Heavy Industries (Japan), TECO-Westinghouse Motor Company (United States), Arc Systems Inc. (Japan), DENSO (Japan), and Regal Beloit Corporation (United States), contribute to a competitive landscape that fosters innovation and market advancement.

In August 2023, WEG broadened its presence in Eastern Europe and Southwest Asia by establishing a new office in Dilovas, Kocaeli, Turkey. This 7,000 m² facility will provide technical support to customers and assemble products. This expansion will reduce the time it takes to market for the local region and neighboring countries.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.61% from 2024 to 2032

Unit Value (USD Billion)

Segmentation

By Motor Type

AC Motors
DC Motors
Hermetic Motors

By Power Output

Fractional Horsepower (Up to 1HP)
Integral Horsepower (Above 1HP)

By Voltage

Up to 1 kV
1 kV-6.6 kV
Above 6.6 kV

By Application

Industrial Machinery
Motor Vehicles
HVAC Equipment
Electrical Appliances
Others

By End-User

Industrial
Commercial
Residential
Agriculture
Transportation

By Geography

North America
By Motor Type
By Power Output
By Voltage
By Application
By End-User
By Country
The U.S.
Canada
Europe
By Motor Type
By Power Output
By Voltage
By Application
By End-User
By Country
UK
Germany
France
Italy
Spain
Netherlands
Rest of Europe
Asia Pacific
By Motor Type
By Power Output
By Voltage
By Application
By End-User
By Country
China
Japan
India
Australia
Southeast Asia
Rest of Asia Pacific
Latin America
By Motor Type
By Power Output
By Voltage
By Application
By End-User
By Country
Brazil
Mexico
Rest of Latin America
The Middle East & Africa
By Motor Type
By Power Output
By Voltage
By Application
By End-User
By Country
GCC
South Africa
Rest of the Middle East & Africa

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Emerging Trends – For Major Countries; 4.2. Latest Technological Advancement; 4.3. Regulatory Landscape; 4.4. Industry SWOT Analysis; 4.5. Porters Five Forces Analysis; 4.6. Impact of COVID-19 on the Electric Motor Market
5. Global Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Analysis, Insights and Forecast – By Motor Type; 5.2.1. AC Motors; 5.2.2. DC Motors; 5.2.3. Hermetic Motors; 5.3. Market Analysis, Insights and Forecast – By Power Output; 5.3.1. Fractional Horsepower (Up to 1HP); 5.3.2. Integral Horsepower (Above 1HP); 5.4. Market Analysis, Insights and Forecast – By Voltage; 5.4.1. Up to 1 kV; 5.4.2. 1 kV-6.6 kV; 5.4.3. Above 6.6 kV; 5.5. Market Analysis, Insights and Forecast – By Application; 5.5.1. Industrial Machinery; 5.5.2. Motor Vehicles; 5.5.3. HVAC Equipment; 5.5.4. Electrical Appliances; 5.5.5. Others; 5.6. Market Analysis, Insights and Forecast – By End-User; 5.6.1. Industrial; 5.6.2. Commercial; 5.6.3. Residential; 5.6.4. Agriculture; 5.6.5. Transportation; 5.7. Market Analysis, Insights and Forecast – By Region; 5.7.1. North America; 5.7.2. Europe; 5.7.3. Asia Pacific; 5.7.4. Middle East & Africa; 5.7.5. Latin America
6. North America Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Analysis, Insights and Forecast – By Motor Type; 6.2.1. AC Motors; 6.2.2. DC Motors; 6.2.3. Hermetic Motors; 6.3. Market Analysis, Insights and Forecast – By Power Output; 6.3.1. Fractional Horsepower (Up to 1HP); 6.3.2. Integral Horsepower (Above 1HP); 6.4. Market Analysis, Insights and Forecast – By Voltage; 6.4.1. Up to 1 kV; 6.4.2. 1 kV-6.6 kV; 6.4.3. Above 6.6 kV; 6.5. Market Analysis, Insights and Forecast – By Application; 6.5.1. Industrial Machinery; 6.5.2. Motor Vehicles; 6.5.3. HVAC Equipment; 6.5.4. Electrical Appliances; 6.5.5. Others; 6.6. Market Analysis, Insights and Forecast – By End-User; 6.6.1. Industrial; 6.6.2. Commercial; 6.6.3. Residential; 6.6.4. Agriculture; 6.6.5. Transportation; 6.7. Market Analysis, Insights and Forecast – By Country; 6.7.1. U.S.; 6.7.2. Canada
7. Europe Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Analysis, Insights and Forecast – By Motor Type; 7.2.1. AC Motors; 7.2.2. DC Motors; 7.2.3. Hermetic Motors; 7.3. Market Analysis, Insights and Forecast – By Power Output; 7.3.1. Fractional Horsepower (Up to 1HP); 7.3.2. Integral Horsepower (Above 1HP); 7.4. Market Analysis, Insights and Forecast – By Voltage; 7.4.1. Up to 1 kV; 7.4.2. 1 kV-6.6 kV; 7.4.3. Above 6.6 kV; 7.5. Market Analysis, Insights and Forecast – By Application; 7.5.1. Industrial Machinery; 7.5.2. Motor Vehicles; 7.5.3. HVAC Equipment; 7.5.4. Electrical Appliances; 7.5.5. Others; 7.6. Market Analysis, Insights and Forecast – By End-User; 7.6.1. Industrial; 7.6.2. Commercial; 7.6.3. Residential; 7.6.4. Agriculture; 7.6.5. Transportation; 7.7. Market Analysis, Insights and Forecast – By Country; 7.7.1. U.K.; 7.7.2. Germany; 7.7.3. France; 7.7.4. Italy; 7.7.5. Spain; 7.7.6. Netherlands; 7.7.7. Rest of Europe
8. Asia Pacific Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Analysis, Insights and Forecast – By Motor Type; 8.2.1. AC Motors; 8.2.2. DC Motors; 8.2.3. Hermetic Motors; 8.3. Market Analysis, Insights and Forecast – By Power Output; 8.3.1. Fractional Horsepower (Up to 1HP); 8.3.2. Integral Horsepower (Above 1HP); 8.4. Market Analysis, Insights and Forecast – By Voltage; 8.4.1. Up to 1 kV; 8.4.2. 1 kV-6.6 kV; 8.4.3. Above 6.6 kV; 8.5. Market Analysis, Insights and Forecast – By Application; 8.5.1. Industrial Machinery; 8.5.2. Motor Vehicles; 8.5.3. HVAC Equipment; 8.5.4. Electrical Appliances; 8.5.5. Others; 8.6. Market Analysis, Insights and Forecast – By End-User; 8.6.1. Industrial; 8.6.2. Commercial; 8.6.3. Residential; 8.6.4. Agriculture; 8.6.5. Transportation; 8.7. Market Analysis, Insights and Forecast – By Country; 8.7.1. China; 8.7.2. India; 8.7.3. Japan; 8.7.4. Australia; 8.7.5. Southeast Asia; 8.7.6. Rest of Asia Pacific
9. Middle East & Africa Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Analysis, Insights and Forecast – By Motor Type; 9.2.1. AC Motors; 9.2.2. DC Motors; 9.2.3. Hermetic Motors; 9.3. Market Analysis, Insights and Forecast – By Power Output; 9.3.1. Fractional Horsepower (Up to 1HP); 9.3.2. Integral Horsepower (Above 1HP); 9.4. Market Analysis, Insights and Forecast – By Voltage; 9.4.1. Up to 1 kV; 9.4.2. 1 kV-6.6 kV; 9.4.3. Above 6.6 kV; 9.5. Market Analysis, Insights and Forecast – By Application; 9.5.1. Industrial Machinery; 9.5.2. Motor Vehicles; 9.5.3. HVAC Equipment; 9.5.4. Electrical Appliances; 9.5.5. Others; 9.6. Market Analysis, Insights and Forecast – By End-User; 9.6.1. Industrial; 9.6.2. Commercial; 9.6.3. Residential; 9.6.4. Agriculture; 9.6.5. Transportation; 9.7. Market Analysis, Insights and Forecast – By Country; 9.7.1. GCC; 9.7.2. South Africa; 9.7.3. Rest of Middle East & Africa
10. Latin America Electric Motor Market Analysis (USD Billion), Insights and Forecast, 2019-2032: 10.1. Key Findings / Summary; 10.2. Market Analysis, Insights and Forecast – By Motor Type; 10.2.1. AC Motors; 10.2.2. DC Motors; 10.2.3. Hermetic Motors; 10.3. Market Analysis, Insights and Forecast – By Power Output; 10.3.1. Fractional Horsepower (Up to 1HP); 10.3.2. Integral Horsepower (Above 1HP); 10.4. Market Analysis, Insights and Forecast – By Voltage; 10.4.1. Up to 1 kV; 10.4.2. 1 kV-6.6 kV; 10.4.3. Above 6.6 kV; 10.5. Market Analysis, Insights and Forecast – By Application; 10.5.1. Industrial Machinery; 10.5.2. Motor Vehicles; 10.5.3. HVAC Equipment; 10.5.4. Electrical Appliances; 10.5.5. Others; 10.6. Market Analysis, Insights and Forecast – By End-User; 10.6.1. Industrial; 10.6.2. Commercial; 10.6.3. Residential; 10.6.4. Agriculture; 10.6.5. Transportation; 10.7. Market Analysis, Insights and Forecast – By Country; 10.7.1. Brazil; 10.7.2. Mexico; 10.7.3. Rest of Latin America
11. Competitive Analysis: 11.1. Company Market Share Analysis, 2023; 11.2. Company Profile; 11.2.1. ABB; 11.2.1.1. Business Overview; 11.2.1.2. Product & Service Offering; 11.2.1.3. Overall Revenue; 11.2.1.4. Geographic Presence; 11.2.1.5. Recent Development; 11.2.2. AMETEK; 11.2.2.1. Business Overview; 11.2.2.2. Product & Service Offering; 11.2.2.3. Overall Revenue; 11.2.2.4. Geographic Presence; 11.2.2.5. Recent Development; 11.2.3. Johnson Electric; 11.2.3.1. Business Overview; 11.2.3.2. Product & Service Offering; 11.2.3.3. Overall Revenue; 11.2.3.4. Geographic Presence; 11.2.3.5. Recent Development; 11.2.4. Siemens; 11.2.4.1. Business Overview; 11.2.4.2. Product & Service Offering; 11.2.4.3. Overall Revenue; 11.2.4.4. Geographic Presence; 11.2.4.5. Recent Development; 11.2.5. Rockwell Automation; 11.2.5.1. Business Overview; 11.2.5.2. Product & Service Offering; 11.2.5.3. Overall Revenue; 11.2.5.4. Geographic Presence; 11.2.5.5. Recent Development; 11.2.6. GE; 11.2.6.1. Business Overview; 11.2.6.2. Product & Service Offering; 11.2.6.3. Overall Revenue; 11.2.6.4. Geographic Presence; 11.2.6.5. Recent Development; 11.2.7. Nidec Motor Corporation; 11.2.7.1. Business Overview; 11.2.7.2. Product & Service Offering; 11.2.7.3. Overall Revenue; 11.2.7.4. Geographic Presence; 11.2.7.5. Recent Development; 11.2.8. WEG; 11.2.8.1. Business Overview; 11.2.8.2. Product & Service Offering; 11.2.8.3. Overall Revenue; 11.2.8.4. Geographic Presence; 11.2.8.5. Recent Development; 11.2.9. Toshiba Corporation; 11.2.9.1. Business Overview; 11.2.9.2. Product & Service Offering; 11.2.9.3. Overall Revenue; 11.2.9.4. Geographic Presence; 11.2.9.5. Recent Development; 11.2.10. Hitachi; 11.2.10.1. Business Overview; 11.2.10.2. Product & Service Offering; 11.2.10.3. Overall Revenue; 11.2.10.4. Geographic Presence; 11.2.10.5. Recent Development; 11.2.11. Mitsubishi Heavy Industries; 11.2.11.1. Business Overview; 11.2.11.2. Product & Service Offering; 11.2.11.3. Overall Revenue; 11.2.11.4. Geographic Presence; 11.2.11.5. Recent Development; 11.2.12. TECO-Westinghouse Motor Company; 11.2.12.1. Business Overview; 11.2.12.2. Product & Service Offering; 11.2.12.3. Overall Revenue; 11.2.12.4. Geographic Presence; 11.2.12.5. Recent Development; 11.2.13. Arc Systems Inc.; 11.2.13.1. Business Overview; 11.2.13.2. Product & Service Offering; 11.2.13.3. Overall Revenue; 11.2.13.4. Geographic Presence; 11.2.13.5. Recent Development; 11.2.14. DENSO; 11.2.14.1. Business Overview; 11.2.14.2. Product & Service Offering; 11.2.14.3. Overall Revenue; 11.2.14.4. Geographic Presence; 11.2.14.5. Recent Development; 11.2.15. Regal Beloit Corporation; 11.2.15.1. Business Overview; 11.2.15.2. Product & Service Offering; 11.2.15.3. Overall Revenue; 11.2.15.4. Geographic Presence; 11.2.15.5. Recent Development; 12.