Global Electric Motor Market 2022-2028

Global Electric Motor Market 2022-2028

An electric motor is any of a class of devices that convert electrical energy to mechanical energy usually by employing electromagnetic phenomena. Electric motors can be powered by direct current (DC) sources, such as batteries or rectifiers. Or by alternating current (AC) sources, such as inverters, electric generators, or a power grid. Electric motors are incorporated in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, and automated robots. The global electric motor market size is projected to grow by USD 4.1 billion from 2022 to 2028, registering a CAGR of 3.1 percent, according to a new report by Gen Consulting Company.

The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global electric motor market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the electric motor industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the technology, power output, end user, and region. The global market for electric motor can be segmented by technology: direct current (DC) motor, alternating current (AC) motor, others. The AC motor segment held the largest revenue share in 2021. Electric motor market is further segmented by power output: fractional HP motors (less than 1HP), high voltage integral HP motors (greater than 500HP), low voltage integral HP motors (between 1HP - 500HP). Among these, the low voltage integral HP motors segment was accounted for the highest revenue generator in 2021. Based on end user, the electric motor market is segmented into: chemicals & petrochemicals, discrete industries, food & beverages, metal & mining, oil & gas, power generation, water treatment, others. The oil & gas segment captured the largest share of the market in 2021. On the basis of region, the electric motor market also can be divided into: North America, Asia Pacific, Europe, Rest of the World (ROW).

By technology:

• direct current (DC) motor
• alternating current (AC) motor
• others

By power output:

• fractional HP motors (less than 1HP)
• high voltage integral HP motors (greater than 500HP)
• low voltage integral HP motors (between 1HP - 500HP)

By end user:

• chemicals & petrochemicals
• discrete industries
• food & beverages
• metal & mining
• oil & gas
• power generation
• water treatment
• others

By region:

• North America
• Asia Pacific
• Europe
• Rest of the World (ROW)

The alternating current (AC) motor market is further segmented into AC induction/asynchronous motors, AC synchronous motors. Globally, the induction motors segment made up the largest share of the electric motor market. Furthermore, the direct current (DC) motor market has been categorized into permanent magnet (PM) motors, self-excited motors, separately excited motors. The separately excited motors segment was the largest contributor to the global electric motor market in 2021. The other electric motors market is further divided into brushless DC motors (BLDC), servo motors, stepper motors, switched reluctance motors (SRM). Among them, servo motors segment accounted for the largest market share in 2021. Moreover, it is expected to expand the highest CAGR during the forecast period.

The report has also analysed the competitive landscape of the global electric motor market with some of the key players being ABB Ltd., Altra Industrial Motion Corp., AMETEK, Inc., Brook Crompton Holdings Ltd., Hansen Corporation (ElectroCraft, Inc.), Hitachi Ltd., Johnson Electric Holdings Limited, Lenze SE, maxon Group, Moog, Inc., Nidec Corporation, NORD Gear Corporation, Regal Rexnord Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Siemens AG, Techtop Industries, Inc., TECO-Westinghouse Motor Company, The ebm-papst Group, The Yaskawa Electric Corporation, Toshiba Corporation, WEG S.A., Wolong Electric Group Co., Ltd., among others.

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Historical & Forecast Period

This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

Scope of the Report

• To analyze and forecast the market size of the global electric motor market.
• To classify and forecast the global electric motor market based on technology, power output, end user, region.
• To identify drivers and challenges for the global electric motor market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global electric motor market.
• To identify and analyze the profile of leading players operating in the global electric motor market.

Why Choose This Report

• Gain a reliable outlook of the global electric motor market forecasts from 2022 to 2028 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.