Global $100+ Billion Electric Motor Markets Analysis & Forecasts, 2016-2020 & 2021-2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global electric motor market, by type (AC motors, DC motors and hermetic motors), by end use (residential, commercial, industrial, transportation and others), by power output (above 1 hp and up to 1 hp), by Region, Competitive Forecast & Opportunities, 2016 – 2027″ report has been added to ResearchAndMarkets.com’s to offer.

The global electric motor market was USD 109.39 billion in 2020 and is expected to grow at a CAGR of more than 6.28% through 2026, due to increasing global electricity consumption and increasing demand from the automotive and rail industries.

In addition, the growing heating, ventilation and air-conditioning (HVAC) industry, especially in the Asia-Pacific region, is expected to positively impact the global electric motor market in the coming years.

As for the type, the market can be divided into AC motors, DC motors and hermetic motors. AC motors dominated the market in 2020 and are expected to maintain market dominance over the forecast period, supported by its wide use in the residential and industrial sectors.

By power output, the market has been segmented into above 1HP and up to 1HP. Up to 1HP segment, demand is pushing forward thanks to its use in various small-scale industries such as household appliances, paper and pulp industries, textile mills, healthcare and other applications.

Based on end-use, the market can be segmented into residential, commercial, industrial, transportation, and others. The industrial sector has the largest market share, due to increasing urbanization, increasing economy per capita and development in technology.

Industrial development plays an important role in the growth of a country’s economy, which consists of competition between large and small players, consumer spending power, partnerships and collaborations, investments, mergers and acquisitions, and development of new projects. In addition, the increasing demand from the HVAC industry has also increased the demand for electric motors.

The global automotive industry is making strides towards electric mobility with pivotal changes in electric vehicle innovation. In Europe, the proactive decarbonisation measures have been taken that promote the increased use of electric vehicles with electric motors.

Improvements in battery innovations have reduced battery costs and improved charging speed. In addition, increasing government initiatives, such as tax amortization and policies to promote environmentally friendly electric vehicles using electric motors, will fuel the electric motor market.

Asia-Pacific is the largest contributor with a value share of approximately 37% in 2020 in the global electric motor market. China is the largest contributing country in the region with a share of 52.83%, followed by Japan, India and South Korea. Growing urbanization and infrastructure projects in China contribute to the country’s leading market position.

Some of the major players in the global electric motor market include ABB Limited, Siemens AG, Johnson Electric Holdings Limited, Rockwell Automation Incorporation, Nidec Corporation.

Report Range:

Years considered for this report:

  • Historic years: 2016-2019

  • Base year: 2020

  • Estimated year: 2021

  • Forecast period: 2022-2026

Global Electric Motors Market Segment By Type: Introduction

  • AC motors

  • DC motors

  • Hermetic engines

Global Electric Motor Market, by End Use:

  • residential

  • Commercial break

  • industrial

  • transport

  • others

Global Electric Motors Market Segment By Power Output:

Global Electric Motors Market Segment By Regions: Introduction

  • Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Europe

  • Germany

  • Italy

  • Spain

  • France

  • Russia

  • North America

  • United States

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Colombia

  • Middle East and Africa

  • Saudi Arabia

  • UAE

  • South Africa

  • Iran

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global Electric Motor Market.

  • ABB Limited

  • Siemens AG

  • Schneider Electric Corporation

  • Nidec Corporation

  • Mitsubishi Electric Group

  • Rockwell Automation Incorporation

  • Johnson Electric Holdings Limited

  • Toshiba Corporation

  • General Electric Company

  • WEG Industries

For more information about this report, visit https://www.researchandmarkets.com/r/ex0nb

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