Global Electric Motor Market Analysis by Motor Type, Power Output, Rotor, Application, End Use, and Region and segments forecast till 2033
Market Overview
The electric motor market is valued at USD 121,020 million on 2022 and is anticipated to reach a value of USD 203,320 million in 2030 expanding at a CAGR of 6.7% over the forecast period.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 121,020 Million |
Market Forecast in 2033 | USD 203,320 Million |
CAGR % 2023-2033 | 6.7% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Motor Type, Power Output, Rotor, Application, End Use |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | General Electric, Robert Bosch GmbH, Hitachi, Ltd., Nidec Corporation, WEG S.A., Siemens AG, ABB Group, Regal Beloit Corporation, Toshiba Corporation, Johnson Electric, Hyosung Corporation, Schneider Electric SE, Bonfiglioli Riduttori S.p.A., Kirloskar Electric Company Ltd., Allied Motion Technologies Inc., East West Manufacturing, LLC, Hyundai Electric Co. Ltd., and Others |
Electric motor is referred to as a type of an electrical equipment that is powered by the ability to transform electrical energy into mechanical energy. The interaction between its electric current and magnetic field in a wire facilitates its efficient operations. It is made up of six pivotal parts including rotor, field magnet, commuter, axle, brushes, and a DC power supply. The escalating demand for continuous power supply along with rapid urbanization and industrialization are primarily augmenting the outlook of this market vertical.
Moreover, prompt technological advancements in the field coupled with the rising adoption of robotics and automation technology across various sectors are creating lucrative opportunities for the marketplace to prosper. Also, rising R&D investments in the field, rapid economic developments, and the booming consumer electronics sector are positively swaying the dynamics of this market vertical.
Additionally, the emergence of high quality insulation materials to improve the operational efficiency of electric equipment is adding momentum to the progression of this business sphere. Besides, strict emission regulations across various nations is fueling the overall industry expansion. Further, the surging environmental cognizance of the masses across the globe is bolstering the growth of this market. On the contrary, high costs pertaining to electric motors and dearth of awareness regarding their benefits are hindering the remuneration scope of this industry.
It is evident that widespread urbanization and industrialization is have an adverse impact of the environment. Deforestation, rising emission levels from vehicles and industries along with improper waste management is taking a toll on the ecosystem which in turn is impacting our lives. This has shifted the inclination of the masses towards the adoption of energy efficient power systems. These factors are fueling the overall industry growth.
There has been a growing demand for efficient HVAC systems across commercial, residential, and industrial complexes. These systems aid in efficient temperature management and also purify the air from harmful organisms, odors, carbon dioxide, and dust, among others. Electric motors are an integral part of HVAC systems as they facilitate their efficient functioning. This in turn is bolstering the market progression.
Motor Type Insights
The Direct Current (DC) motor segment is reckoned to expand with a substantial CAGR over the forecast period attributing to the rising demand for electric vehicles worldwide.
Power Output Insights
The <1HP, 1-5HP segment is anticipated to garner substantial returns over the analysis timeline.
Rotor Insights
The inner rotor segment is anticipated to grow considerably by 2030 ascribing to their widespread adoption across consumer electronics, automotive, and manufacturing industries.
Application Insights
The Pumps segment is poised to capture a high market share over 2022-2033 attributing to rising adoption and increasing penetration worldwide.
End use Insights
The transportation system is expected to generate significant returns over the stipulated timeframe owing to the growing adoption of electric vehicles across the globe.
Regional Insights
The primary regions constituting the geographical ambit of this marketplace are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, Asia Pacific is projected to amplify with a high CAGR over 2022-2030. This is attributable to the escalating demand for HVAC systems, technological innovations in the field, demand for continuous power supply, and rapid industrialization.
Competitive Analysis
The prominent companies defining the competitive terrain of this business sphere are General Electric, Robert Bosch GmbH, Hitachi, Ltd., Nidec Corporation, WEG S.A., Siemens AG, ABB Group, Regal Beloit Corporation, Toshiba Corporation, Johnson Electric, Hyosung Corporation, Schneider Electric SE, Bonfiglioli Riduttori S.p.A., Kirloskar Electric Company Ltd., Allied Motion Technologies Inc., East West Manufacturing, LLC, Hyundai Electric Co. Ltd., and Others.
Notably, in February 2021, Johnson Electric announced the launch of its new Low Voltage DC motors range. This range is designed with an ability to offer 17% higher longevity to smart furniture.
Global Electric Motor Market- Segmental Analysis
By Motor Type
• Alternate Current (AC) Motor
o Induction Motor
o Synchronous Motor
• Direct Current (DC) Motor
o Brushed DC
o Brushless DC
• Hermetic Motor
By Power Output
• <1HP, 1-5HP
• 5 – 10 HP
• 10 -20 HP
• 20 – 50 HP
• 50 - 100HP
• 100– 300 HP
• 300 - 500HP
• Above 500HP
By Rotor
• Inner Rotor
• Outer Rotor
By Application
• Pumps
• Fans
• Drives
• Compressor
• General Machinery
• Centrifugal Machinery
• Grinders
• Extruders
• Robotics
• Others
By End Use
• Industrial
o Oil & Gas
o Power Generation
o Mining
o Food & Beverages
o Pulp & Paper
o Chemicals
o Air Separation Plant
o Other Manufacturing
• Residential
• HVAC & Refrigeration
• Medical
• Municipal Water Treatment
• Transportation
• Automotive
o Aviation
o Railways
o Boats
• Others
Why to buy this Report?
The report provides quantitative and qualitative aspect for Electric Motor Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Electric Motor Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification
1. Global Electric Motor Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Electric Motor Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years – 2020 to 2021
1.3.2. Projected Data Reporting Years – 2022 to 2033
1.3.3. Reporting Data Parameters – Value (US$ Million & Thousand Units)
1.4. Global Electric Motor Market Scope and Market Estimation
1.4.1. Global Electric Motor Overall Market Size & Volume (US$ Million & Thousand Units & Thousand Units), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global Electric Motor Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. Electric Motor Market Segmentation
1.5.1. Motor Type of Global Electric Motor Market
1.5.2. Power Output of Global Electric Motor Market
1.5.3. Rotor Type of Global Electric Motor Market
1.5.4. Application of Global Electric Motor Market
1.5.5. End Use of Global Electric Motor Market
1.5.6. Key Regions of Global Electric Motor Market
2. Global Electric Motor Market - Executive Summary
2.1. Global Electric Motor Market – Summary & Snapshot
2.2. Global Electric Motor Market, By Motor Type (US$ Million & Thousand Units)
2.3. Global Electric Motor Market, By Power Output (US$ Million & Thousand Units)
2.4. Global Electric Motor Market, By Rotor Type (US$ Million & Thousand Units)
2.5. Global Electric Motor Market, By Application (US$ Million & Thousand Units)
2.6. Global Electric Motor Market, By End Use (US$ Million & Thousand Units)
2.7. Global Electric Motor Market, By Geography (US$ Million & Thousand Units)
2.8. Global Electric Motor Market Outlook & Future Opportunities
3. Electric Motor Market Trends, Outlook, and Factors Analysis
3.1. Global Electric Motor Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Electric Motor Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Electric Motor Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Rise in demand for energy-efficient electric motors
3.2.1.2. Increase in awareness about electric and green vehicles among customers is expected to grow the market
3.2.1.3. A rise in the demand for HVAC systems from end users in the residential, commercial, and industrial sectors is also anticipated to drive the market
3.2.2. Restraints
3.2.2.1. High upfront cost and maintenance of electric motors is anticipated to hamper the market growth
3.2.3. Opportunities
3.2.3.1. Developing better design strategies to cut carbon emissions offers immense market expansion opportunities
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porter’s Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Electric Motor Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Electric Motor Market
3.9.1. By Motor Type
3.9.2. By Power Output
3.9.3. By Rotor Type
3.9.4. By Application
3.9.5. By End Use
3.9.6. By Regions
4. Global Electric Motor Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Electric Motor Market, 2020 – 2021 (US$ Million & Thousand Units)
4.2. Global Electric Motor Market, By Motor Type, 2020 to 2021 (US$ Million & Thousand Units)
4.3. Global Electric Motor Market, By Power Output, 2020 to 2021 (US$ Million & Thousand Units)
4.4. Global Electric Motor Market, By Rotor Type, 2020 to 2021 (US$ Million & Thousand Units)
4.5. Global Electric Motor Market, By Application, 2020 to 2021 (US$ Million & Thousand Units)
4.6. Global Electric Motor Market, By End Use, 2020 to 2021 (US$ Million & Thousand Units)
4.7. Global Electric Motor Market, By Region, 2020 to 2021 (US$ Million & Thousand Units)
5. Global Electric Motor Market Estimates & Forecast Trend Analysis, by Motor Type
5.1. Global Electric Motor Market Share (%) Estimates and Forecasts, by Motor Type, 2022 & 2033
5.2. Global Electric Motor Market Revenue & Volume (US$ Million & Thousand Units) Estimates and Forecasts, by Motor Type, 2022 to 2033
5.2.1. Alternate Current (AC) Motor
5.2.1.1. Induction Motor
5.2.1.2. Synchronous Motor
5.2.2. Direct Current (DC) Motor
5.2.2.1. Brushed DC
5.2.2.2. Brushless DC
5.2.3. Hermetic Motor
6. Global Electric Motor Market Estimates & Forecast Trend Analysis, by Power Output
6.1. Global Electric Motor Market Share (%) Estimates and Forecasts, by Power Output, 2022 & 2033
6.2. Global Electric Motor Market Revenue & Volume (US$ Million & Thousand Units) Estimates and Forecasts, by Power Output, 2022 to 2033
6.2.1. <1HP
6.2.2. 1-5HP
6.2.3. 5 – 10 HP
6.2.4. 10 -20 HP
6.2.5. 20 – 50 HP
6.2.6. 50 - 100HP
6.2.7. 100 – 300 HP
6.2.8. 300 - 500HP
6.2.9. Above 500HP
7. Global Electric Motor Market Estimates & Forecast Trend Analysis, by Rotor Type
7.1. Global Electric Motor Market Share (%) Estimates and Forecasts, by Rotor Type, 2022 & 2033
7.2. Global Electric Motor Market Revenue & Volume (US$ Million & Thousand Units) Estimates and Forecasts, by Rotor Type, 2022 to 2033
7.2.1. Inner Rotor
7.2.2. Outer Rotor
8. Global Electric Motor Market Estimates & Forecast Trend Analysis, by Application
8.1. Global Electric Motor Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033
8.2. Global Electric Motor Market Revenue & Volume (US$ Million & Thousand Units) Estimates and Forecasts, by Application, 2022 to 2033
8.2.1. Pumps
8.2.2. Fans
8.2.3. Drives
8.2.4. Compressor
8.2.5. General Machinery
8.2.6. Centrifugal Machinery
8.2.7. Grinders
8.2.8. Extruders
8.2.9. Robotics
8.2.10. Others
9. Global Electric Motor Market Estimates & Forecast Trend Analysis, by End Use
9.1. Global Electric Motor Market Share (%) Estimates and Forecasts, by End Use, 2022 & 2033
9.2. Global Electric Motor Market Revenue & Volume (US$ Million & Thousand Units) Estimates and Forecasts, by End Use, 2022 to 2033
9.2.1. Industrial
9.2.1.1. Oil & Gas
9.2.1.2. Power Generation
9.2.1.3. Mining
9.2.1.4. Food & Beverages
9.2.1.5. Pulp & Paper
9.2.1.6. Chemicals
9.2.1.7. Air Separation Plant
9.2.1.8. Other Manufacturing
9.2.2. Residential
9.2.3. HVAC & Refrigeration
9.2.4. Medical
9.2.5. Municipal Water Treatment
9.2.6. Transportation
9.2.6.1. Automotive
9.2.6.2. Aviation
9.2.6.3. Railways
9.2.6.4. Boats
9.2.7. Others
10. Global Electric Motor Market Analysis and Forecast, by Region
10.1. Global Electric Motor Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
10.2. Global Electric Motor Market Revenue & Volume (US$ Million & Thousand Units) Estimates and Forecasts, by Region, 2022 to 2033
10.2.1. North America
10.2.2. Europe
10.2.3. Asia Pacific
10.2.4. Middle East and Africa
10.2.5. Latin America
11. North America Electric Motor Market: Estimates & Forecast Trend Analysis
11.1. North America Electric Motor Market Assessments & Key Findings
11.2. North America Electric Motor Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. North America Electric Motor Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2022 to 2033)
11.3.1. By Motor Type
11.3.2. By Power Output
11.3.3. By Rotor Type
11.3.4. By Application
11.3.5. By End Use
11.3.6. By Major Country
11.3.6.1. The U.S.
11.3.6.2. Canada
12. Europe Electric Motor Market: Estimates & Forecast Trend Analysis
12.1. Europe Electric Motor Market Assessments & Key Findings
12.2. Europe Electric Motor Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Europe Electric Motor Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2022 to 2033)
12.3.1. By Motor Type
12.3.2. By Power Output
12.3.3. By Rotor Type
12.3.4. By Application
12.3.5. By End Use
12.3.6. By Major Country
12.3.6.1. Germany
12.3.6.2. The U.K.
12.3.6.3. France
12.3.6.4. Italy
12.3.6.5. Spain
12.3.6.6. Rest of Europe (includes all other European countries)
13. Asia Pacific Electric Motor Market: Estimates & Forecast Trend Analysis
13.1. Asia Pacific Electric Motor Market Assessments & Key Findings
13.2. Asia Pacific Electric Motor Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Asia Pacific Electric Motor Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2022 to 2033)
13.3.1. By Motor Type
13.3.2. By Power Output
13.3.3. By Rotor Type
13.3.4. By Application
13.3.5. By End Use
13.3.6. By Major Country
13.3.6.1. China
13.3.6.2. Japan
13.3.6.3. India
13.3.6.4. ASEAN
13.3.6.5. South Korea
13.3.6.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
14. Middle East & Africa Electric Motor Market: Estimates & Forecast Trend Analysis
14.1. Middle East & Africa Electric Motor Market Assessments & Key Findings
14.2. Middle East & Africa Electric Motor Market Share (%) Estimates and Forecasts, 2022 & 2033
14.3. Middle East & Africa Electric Motor Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2022 to 2033)
14.3.1. By Motor Type
14.3.2. By Power Output
14.3.3. By Rotor Type
14.3.4. By Application
14.3.5. By End Use
14.3.6. By Major Country
14.3.6.1. GCC
14.3.6.2. South Africa
14.3.6.3. Egypt
14.3.6.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
15. Latin America Electric Motor Market: Estimates & Forecast Trend Analysis
15.1. Latin America Market Assessments & Key Findings
15.2. Latin America Electric Motor Market Share (%) Estimates and Forecasts, 2022 & 2033
15.3. Latin America Electric Motor Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2022 to 2033)
15.3.1. By Motor Type
15.3.2. By Power Output
15.3.3. By Rotor Type
15.3.4. By Application
15.3.5. By End Use
15.3.6. By Major Country
15.3.6.1. Brazil
15.3.6.2. Mexico
15.3.6.3. Rest of Latin America (includes all other Latin America countries)
16. Competitive Landscape
16.1. Electric Motor Market Revenue Share Analysis (%), by Major Players (2021)
16.2. Electric Motor Market Competition Matrix, by Leading Players
16.3. Electric Motor List of Emerging, Prominent and Leading Players
16.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
17. Company Profiles
17.1. General Electric
17.1.1. Company Overview & Insights
17.1.2. Financial Performance
17.1.3. Product / Service Portfolio
17.1.4. Geographical Footprint & Share
17.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
17.2. Robert Bosch GmbH
17.3. Hitachi, Ltd.
17.4. Nidec Corporation
17.5. WEG S.A.
17.6. Siemens AG
17.7. ABB Group
17.8. Regal Beloit Corporation
17.9. Toshiba Corporation
17.10. Johnson Electric
17.11. Hyosung Corporation
17.12. Schneider Electric SE
17.13. Bonfiglioli Riduttori S.p.A.
17.14. Kirloskar Electric Company Ltd.
17.15. Allied Motion Technologies Inc.
17.16. East West Manufacturing, LLC
17.17. Hyundai Electric Co. Ltd.
17.18. Others
18. Assumptions and Research Methodology
18.1. Data Mining
18.2. Secondary Research
18.3. Primary Research
18.4. Subject Matter Expert Advice
18.5. Quality Check
18.6. Final Review
18.7. Data Triangulation
18.8. Bottom-Up Approach
18.9. Top Down Approach
18.10. Research Flow
18.11. Key Insights from Industry Experts
18.12. Data Sources
18.13. Assumptions
18.14. Limitations
19. Conclusions and Recommendations
19.1. Key Research Findings and Conclusion
19.2. Key Insights & Recommendations from Analysts
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