Global Motor Market Growth (Status and Outlook) 2023-2029

Global Motor Market Growth (Status and Outlook) 2023-2029

Motor is a kind of electromagnetic device that realizes electric energy conversion or transmission according to the law of electromagnetic induction. As a basic product in industrial society, motor plays an important role in national production and life.
LPI (LP Information)' newest research report, the “Motor Industry Forecast” looks at past sales and reviews total world Motor sales in 2022, providing a comprehensive analysis by region and market sector of projected Motor sales for 2023 through 2029. With Motor sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Motor industry.
This Insight Report provides a comprehensive analysis of the global Motor landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Motor portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Motor market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Motor and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Motor.
The global Motor market size is projected to grow from US$ 136660 million in 2022 to US$ 221720 million in 2029; it is expected to grow at a CAGR of 7.2% from 2023 to 2029.
Motor products are widely used in various fields of national economy, especially large and medium-sized motors, widely used in industrial fields, such as metallurgy, electric power, petrochemical, coal, mining, building materials, papermaking and so on. In addition, the motor is also used in the field of electronic information, rail transit, home appliances, new energy vehicles and other industries.
ABB, Siemens, WEG, Regal Beloit, Nidec, GE, TMEIC, SEVa-TEC, etc., are the major manufacturers of electric motor products in the world, among which Nidec is the leader in the global electric motor market, and its revenue in 2019 accounts for about 6% of the total market revenue.
In domestic motor market, leading domestic manufacturers including Wolong, ANHUI WANNAN ELECTRIC MACHINE, Jiamusi Electric Machine, Shanghai Electric Machinery, Jiangsu dazhong Electromotor, etc., these 5 companies to occupy the market share of about 7%.
This report presents a comprehensive overview, market shares, and growth opportunities of Motor market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Industrial and Control Motors
Micro Motor
Segmentation by application
Industrial Machinery
Automobile
HVAC
Aviation and Transportation
Home Appliance
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Siemens
WEG
Regal Beloit
Nidec
GE
TMEIC
SEVA-tec
Wolong
ANHUI WANNAN ELECTRIC MACHINE
Jiamusi Electric Machine
Shanghai Electric Machinery
Jiangsu dazhong Electromotor

Please note: The report will take approximately 2 business days to prepare and deliver.