Electric DC Motors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Brushed DC Motors and Brushless DC Motors), Speed (Low, Medium, and High), and Application (Industrial Machinery, Automotive and Transportation, HVAC Equipment, Aero

Electric DC Motors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Brushed DC Motors and Brushless DC Motors), Speed (Low, Medium, and High), and Application (Industrial Machinery, Automotive and Transportation, HVAC Equipment, Aerospace & Defense, Household Appliances, and Others)

The global electric DC motor market is expected to grow from US$ 12,968.5 million in 2021 to US$ 23,639.4 million by 2028; it is estimated to grow at a CAGR of 9.0% during 2021–2028.

By country, the APAC electric DC motors market is subsegmented into Australia, China, India, Japan, and South Korea. The robust automotive industry across the region has been increasing the demand for electric DC motors over the years. Countries such as China and India have boosted their automotive production due to the rise in demand for commercial and passenger vehicles across the region. In 2020, 3,394,446 and 25,225,242 vehicles were produced in India and China, respectively. This rise in automotive manufacturing across APAC contributes to the rising demand for electric DC motors across the region. The production of industrial equipment and home appliances has drastically increased over the years in China. In APAC, rising disposable incomes and fast urbanization, along with creative and appealing advertising by manufacturing corporations, have produced a potentially disruptive market environment. The increase in the number of urban residents and middle-class families has resulted in an increase in demand for home and kitchen equipment throughout the region. Yaskawa Electric Corporation; Johnson Electric Holdings Limited; Nidec Corporation; and MinebeaMitsumi, Inc. are among the few electric DC motor manufacturers operating in APAC. These companies have increased their investments in product development and geographic expansion to increase their customer base across the globe. In February 2021, Johnson Electric Holdings Limited launched LVDC motors for smart furniture.

The electric DC motor market is segmented on the basis of type, speed, application, and geography. Based on type, the market is bifurcated into brushed DC motors and brushless DC motors. The brushless DC motors segment represented a larger share of the overall market in 2020. Based on speed, the market is segmented into low (less than 1,000 rpm), medium (1,001—25,000 rpm), and high (above 25,000). In 2020, the medium segment held the largest share of the market. By application, the electric DC motor market is segmented into industrial machinery, automotive and transportation, HVAC equipment, aerospace & defense, household appliances, and others. The household appliances segment represented the largest share of the overall market in 2020. Based on geography, the electric DC motor market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. In 2020, APAC accounted for the largest share in the global market.

The MEA electric DC motors market is negatively affected from the supply side, owing to disruptions in the supply chain of raw materials. The rise in COVID-19 cases caused the discontinuation of many economic operations. Due to the international travel ban, the tourism sector was drastically affected. As a result, the demand for new air conditioners, television sets, and refrigerators decreased notably. This impacted the requirement for electric DC motor from HVAC system and consumer electronics manufacturers. The end users in the MEA region are dependent on international suppliers and experienced significant supply chain disruption during Q1 and Q2 of 2020. However, with beginning of Q3 of 2020, the demand for various semiconductor products, including electric DC motors, increased after its operations resumed.

The overall electric DC motor market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the electric DC motor market with respect to all the market segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the electric DC motor market.

A few major players operating in the global electric DC motor market are ABB Ltd; AMETEK Inc.; Yaskawa Electric Corporation; Johnson Electric Holdings Limited; Nidec Corporation; Siemens AG; Allied Motion Technologies Inc.; MinebeaMitsumi, Inc.; Maxon Motors AG; and Regal Rexnord Corporation.

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The List of Companies - Electric DC Motor Market

1. ABB
2. Allied Motion Inc.
3. Ametek Inc
4. Yaskawa Electric Corp
5. Minebeamitsumi Inc.
6. Johnson Electric Holdings Limited
7. Maxon Motor AG
8. NIDEC Corporation
9. Regal Rexnord Corporation
10. Siemens AG