What is Electric Motors Market Scope?
Electric motors are devices that convert electrical energy into mechanical energy. They are widely used in various applications, from household appliances to industrial machinery, due to their efficiency and versatility. Electric motors can be powered by either direct current (DC) or alternating current (AC), with different types including brushed, brushless, synchronous, and asynchronous motors. The growing adoption of electric vehicles worldwide is a major driver. Electric motors are essential components in EVs, and the increasing push for cleaner transportation solutions is boosting the demand for these motors. The expansion of automation across various industries, such as manufacturing, logistics, and robotics, is fueling the demand for electric motors, which are crucial for powering automated machinery and equipment.
Influencing Trend:
Increasing regulations and standards promoting energy-efficient technologies have led to advancements in electric motor designs that consume less energy while maintaining performance.
Market Growth Drivers:
The shift toward renewable energy sources like wind and solar power has increased the demand for electric motors used in power generation equipment, turbines, and energy storage systems.Rapid urbanization and the need for better infrastructure, including railways, metro systems, and smart cities, are boosting the demand for electric motors to power a variety of equipment and systems.
Challenges:
Although electric vehicles are driving demand for electric motors, the slow pace of EV infrastructure development in some regions could challenge market growth.
Restraints:
The upfront costs of advanced electric motors and the associated control systems can be prohibitive, particularly for small and medium-sized enterprises (SMEs).
Opportunities:
The rapid adoption of electric vehicles presents a major growth opportunity for the electric motor market, as EVs rely on efficient motors for propulsion.
The Electric Motors market study is being classified by Type (AC Motors, • Synchronous Motors, • Asynchronous Motors, DC Motors, • Brushed DC Motors, • Brushless DC Motors, • Coreless or Ironless DC Motors, Special Motors, • Servo Motors, • Low Voltage Drive, • Linear Motors, • Stepper Motors and • Universal Motors), by Application and major geographies with country level break-up.
The electric motors market has been experiencing significant growth driven by increasing demand across various sectors such as industrial machinery, automotive, and consumer goods. The shift toward electric vehicles (EVs), renewable energy sources, and industrial automation has further fueled the demand for energy-efficient electric motors. These motors are essential in applications ranging from HVAC systems, home appliances, and transportation to high-precision industrial processes.
Bosch, Denso, Siemens, Toshiba, Broad-Ocean, ABB, Allied Motion, Franklin Electric, Hitachi, Emerson, GE, Nidec, Regal Beloit, Rockwell Automation, Johnson Electric and Ametek are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Electric Motors market by Type, Application and Region.
On the basis of geography, the market of Electric Motors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
On June, 2022, Siemens Smart Infrastructure (SI), a leader in digital building technologies, announced the acquisition of Brightly Software, a U.S.-based SaaS provider specializing in asset and maintenance management solutions. This acquisition strengthens SI’s position in the software market for buildings and infrastructure, reinforcing its leadership in smart building.
Automation leader ABB has teamed up with Carbon Re, an industrial artificial intelligence (AI) company, to collaborate on optimizing cement production and reducing its carbon footprint using AI-driven solutions. This partnership aims to enhance efficiency and sustainability in the cement industry.
The electric motors market is experiencing significant growth, driven by increasing demand across various industries such as automotive, manufacturing, and energy. Key factors influencing this market include advancements in technology, the push for energy efficiency, and the shift towards electric vehicles (EVs)
Electric Motors Market Study: Important Years
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Electric Motors Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Electric Motors industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.