Global Electric Motor Market Size, Trends & Growth Opportunity, By Type (AC Motors, DC Motors) By End User (Industrial, Commercial, Transportation, Agriculture) By Power Rating (<1 KW Motors, KW 2.2KW Motors ) By Rotor Type (Inner Rotor, Outer Rotor) By Output Power (<1 HP Motors, >1 HP Motors) Region and Forecast till 2027
Report ID : QR1001316 | Industries : Semiconductors and Electronics | Published On :January 2022 | Page Count : 236Global Electric Motor Market
An electric motor (or electrical motor) is an electric machine that converts electrical energy into mechanical energy. Most electric motors operate through the interaction between the motor’s magnetic field and electric current in a wire winding. This interaction generates a force (as per Faraday’s Law) in the form of torque which is applied to the motor’s shaft.
Drivers: Increasing Demand for HVAC systems in residential, commercial, and industrial end-users
Heating, ventilation, and air conditioning (HVAC) structures offer thermal consolation and make sure the air is exceptional in indoor spaces. They are one of the center building blocks of modern infrastructures, in particular for big workplace buildings or shopping malls. Electric DC motors are broadly utilized in HVAC systems to acquire high efficiency in airflow systems and maximize their life and power.
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Restraints: Fluctuating prices of raw materials from China
The costs of raw materials such as permanent magnets, steel bars, copper wires, and precision thin metals which includes specialty alloys, which are used to make electric motors, are managed by a few manufacturers in China. There is not much product differentiation and the price of the product determines the dominance of certain suppliers in the market. The resulting price fluctuations need to be borne by the alternative manufacturers/suppliers in the market.
Impact of COVID-19
The most widespread near-time period effect on electric-powered motors which are already reduced in size or in the manufacturing process will be felt through supply chains. Industry executives are looking forward to transport and construction slowdowns, either because nations have shuttered industries to sluggish the spread of coronavirus or due to the fact the workers have examined positive. Many components and parts for the manufacturing electric motors come from China, the US, and some components of Europe. Manufacturing disruptions in China and the US could contribute to a massive fall in the electric motor market over the following one or years.
Segmentation By Type
Based on the Type the market is segmented into AC Motors and DC Motors. The AC Motors segment is projected to hold a significant market share owing to the extensive use of AC Motors in various applications ranging from irrigation pumps to advanced industrial operations whereas DC motors will see a considerable amount of growth leading to increasing application in electric vehicles.
Segmentation by End User:
The End User market is segmented into Industrial, Commercial, Transportation and agriculture. The industrial segment is predicted to lead the electric motor market in the forecast period. This sector provides appropriate scope for motor manufacturers, as maximum industries rely on motorized automation. The segment consists of the utilities, oil & gas, cement & manufacturing, metal and mining, oil & gas, renewables, petrochemicals & chemicals, water & wastewater, and paper & pulp industries, all of which use electric motors for pumps, boilers, compressors, and other applications, at diverse procedure stages.
Segmentation by Power Rating
The Power Rating segment is bifurcated into <1 KW Motors, KW-2.2 KW Motors, KW-375 KW Motors, and 375 KW Motors.
Segmentation by Rotor Type
The Rotor Type segment is bifurcated into Inner Rotor and Outer Rotor. The inner rotor segment is predicted to develop at a faster rate in the forecast period. In inner rotor type motors, rotors are located on the center and surrounded by stator winding. These motors are used in the manufacturing, automotive, and consumer electronics industries for robotics, CNC machines, automatic door openers, and metal cutting and forming machine applications. These applications require motors that can carry out fast acceleration and deceleration of speed, offer excessive starting torque, have reversible movement capability, and are compact.
Segmentation by Output Power
The Output Power Type Segment is divided into <1 HP Motors and >1 HP Motors. The <1 hp motors segment is predicted to steer the electric motor market from 2021 to 2027. Electric motors are utilized in numerous end user applications owing to their compactness, light weight, and low maintenance requirements. The set up of electric motors in industrial and transportation end user applications is expected to show high growth.
Segmentation by Region
By Region the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Asia Pacific is predicted to be the largest electric motor market during the forecast period. The Asia Pacific comprises China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. With the speedy industrialization, the countries in the Asia Pacific are moving towards internet-based industrial operations in each sector. According to the GSM Association, the developed countries in the Asia Pacific, which includes South Korea, Japan, and Australia, are increasingly exploring the potential of innovative services and connected devices. The automotive sector in the region is also booming. The Asia Pacific is the largest producer of automobiles in the world.
Competitive Landscape:
The major players in the market are Toshiba Corporation (Japan), Wolong (China), Nidec Corporation (Japan), Siemens (Germany), ABB(Switzerland).
Industrial Development:
In March 2020, Wolong Electric, a subsidiary of Wolong, acquired GE's small industrial motors business for USD 160 million. This acquisition is expected to help Wolong gain a leading position in terms of market share. Nidec Corporation launched two new traction motor systems -- the 200 kW Ni200Ex and 50 kW Ni50Ex -- based on the company’s original 150 kW E-Axle (fully integrated traction motor system with an electric motor, reduction gearbox, and inverter).
In October 2019, WEG installed a low voltage electric motor plant in Hosur, India. The new 13,000 square meter facility is capable of producing 250,000 electric motors per year.
Market taxonomy
By Type
AC Motors
DC Motors
By End-User
Industrial
Commercial
Transportation
Agriculture
By Power Rating
<1 KW Motors
KW-2.2KW Motors
KW-375 KW Motors
375 KW Motors
By Rotor Type
Inner Rotor
Outer Rotor
By Output Power
<1 HP Motors
>1 HP Motors
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Global Electric Motor Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Electric Motors Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5. Global Electric Motors Market, By Motor Type
5.1 Y-o-Y Growth Comparison, By Motor Type
5.2 Electric Motors Market Share Analysis, By Motor Type
5.3 Electric Motors Market Market Size and Forecast, By Motor Type
5.3.1 AC Motor
5.3.1.1 Induction AC Motor
5.3.1.2 Synchronous AC Motor
5.3.2 DC Motor
5.3.2.1 Brushed DC Motor
5.3.2.2 Brushless DC Motor
5.3.3 Others
6. Global Electric Motors Market, By Speed
6.1 Y-o-Y Growth Comparison, By Speed
6.2 Electric Motors Market Share Analysis, By Speed
6.3 Electric Motors Market Market Size and Forecast, By Speed
6.3.1 Ultra-High-Speed Motors
6.3.2 High-Speed Motors
6.3.3 Medium Speed Motors
6.3.4 Low Speed Motors
7. Global Electric Motors Market, By End-User
7.1 Y-o-Y Growth Comparison, By Speed
7.2 Electric Motors Market Share Analysis, By End-User
7.3 Electric Motors Market Market Size and Forecast, By End-User
7.3.1 Industrial
7.3.2 Commercial
7.3.3 Residential
7.3.4 Motor Vehicles
7.3.5 Household Appliances
7.3.6 Automotive and Transportation
8. Global Electric Motors Market, By Output Power
8.1 Y-o-Y Growth Comparison, By Output Power
8.2 Electric Motors Market Share Analysis, By Output Power
8.3 Electric Motors Market Market Size and Forecast, By Output Power
8.3.1 Integral Horsepower Output
8.3.2 Fractional Horsepower Output
9. Global Electric Motors Market, By Geography
9.1 Electric Motors Market Share Analysis, By Geography
9.2 Electric Motors Market Market Size and Forecast, By Geography
10. North America Electric Motors Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 North America Electric Motors Market Share Analysis, By Motor Type
10.3 North America Electric Motors Market Size and Forecast, By Speed
10.4 North America Electric Motors Market Size and Forecast, By End-User
10.5 North America Electric Motors Market Size and Forecast, By Output Power
10.6 North America Electric Motors Market Size and Forecast, By Geography Type
10.6.1 US
10.6.2 Canada
11. Europe Electric Motors Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Europe Electric Motors Market Share Analysis, By Motor Type
11.3 Europe Electric Motors Market Size and Forecast, By Speed
11.4 Europe Electric Motors Market Size and Forecast, By End-User
11.5 Europe Electric Motors Market Size and Forecast, By Output Power
11.6 Europe Electric Motors Market Size and Forecast, By Geography Type
11.6.1 UK
11.6.2 Germany
11.6.3 France
11.6.4 Italy
11.6.5 Spain
11.6.6 Netherland
12. Asia Pacific Electric Motors Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Asia Pacific Electric Motors Market Share Analysis, By Motor Type
12.3 Asia Pacific Electric Motors Market Size and Forecast, By Speed
12.4 Asia Pacific Electric Motors Market Size and Forecast, By End-User
12.5 Asia Pacific Electric Motors Market Size and Forecast, By Output Power
12.6 Asia Pacific Electric Motors Market Size and Forecast, By Geography
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4 Australia
13. Rest of the World Electric Motors Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Rest of the World Electric Motors Market Share Analysis, By Motor Type
13.3 Rest of the World Electric Motors Market Size and Forecast, By Speed
13.4 Rest of the World Electric Motors Market Size and Forecast, By End-User
13.5 Rest of the World Electric Motors Market Size and Forecast, By Output Power
13.6 Rest of the World Electric Motors Market Size and Forecast, By Geography
13.6.1 Middle & East Africa
13.6.2 Latin America
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15. Company Profiles
15.1 ABB Group
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 DENSO
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Siemens Ag
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 WEG SA
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Toshiba Corporation
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Hitachi
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 TECO
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Maxon Motors AG
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Nidec Corporation
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies