The electric motor market is expected to grow from USD 152.4 billion in 2022 to USD 286.0 Billion by 2032, at a CAGR of 6.50% during the forecast period 2023-2032.
The electric motor is an electro-mechanical machine which transforms electrical energy into mechanical energy. In other words, the devices which create rotational force are known as the motor. The working principle of the electric motor mainly depends on the interaction of magnetic and electric fields. The electric motor is mainly categorised into two types. They are the AC motor and the DC motor. The AC motor takes alternating current as an input, whereas the DC motor takes direct current.
The driving factors of the market growth are consumer awareness of green vehicles has been a critical factor propelling the market. Besides this, a growing number of government incentives to boost sales of green vehicles for safeguarding the environment from carbon emissions is anticipated to deliver a fillip to the market. Electric motors have noticed several technological advances over the past few years, due to which their demand is achieving traction.
This study delivers a comprehensive analysis of motor type, application, and region. The motor type segment includes AC, DC, and Hermetic. The AC segment holds the largest market share in 2022 due to AC motors' extensive applications range from irrigation pumps to modern-day robotics. Similarly, they are more affordable, smaller, lightweight, and extensively used in HVAC equipment. The application segment includes household appliances, industrial machinery, HVAC equipment, motor vehicles, aerospace & transportation, and others. The motor vehicles segment holds the largest market share in 2022 due to high adoption of electric motors in the automotive industry. An average commercial car has more than 40 electric motors ranging from low power to high.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific holds the largest market share due to Agriculture industry advancements and industrial investments in India, South Korea, Australia, and China. Further, the rising production and sales of electric vehicles in countries including China and Japan, as well as the existence of established OEMs like Hyundai Motor Company, Toyota Industries Corporation, Honda Motor Co., Ltd., and Nissan Motor Corporation, are estimated to increase the growth opportunities of the market in this region.
Some of the notable players in the market are Ametek Inc., Asmo Co., Ltd., Baldor Electric Company, Inc., and Franklin Electric Co., Inc.
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Motor Type
4.3.2. Market Attractiveness Analysis by Application
4.3.3. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing Focus on Adopting Vehicles Running on Renewable Sources to Aid Growth.
5.3. Restraints
5.3.1. High Maintenance Cost to Hinder Market Growth
5.4. Opportunities
5.4.1. Technological Advancement
6. Global Electric Motor Market Analysis and Forecast, By Motor Type:
6.1. Segment Overview
6.2. AC
6.3. DC
6.4. Hermetic
7. Global Electric Motor Market Analysis and Forecast, By Application
7.1. Segment Overview
7.2. Household Appliances
7.3. Industrial Machinery
7.4. HVAC Equipment
7.5. Motor Vehicles
7.6. Aerospace & Transportation
7.7. Others
8. Global Electric Motor Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global Electric Motor Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in the Electric Motor Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. Ametek Inc.
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Asmo Co., Ltd.
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. Baldor Electric Company, Inc.
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Franklin Electric Co., Inc.
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
List of Table
1. Global Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
2. Global AC Electric Motor Market, By Region, 2019-2032 (USD Billion)
3. Global DC Electric Motor Market, By Region, 2019-2032 (USD Billion)
4. Global Hermetic Electric Motor Market, By Region, 2019-2032 (USD Billion)
5. Global Electric Motor Market, By Application, 2019-2032 (USD Billion)
6. Global Household Appliances Electric Motor Market, By Region, 2019-2032 (USD Billion)
7. Global Industrial Machinery Electric Motor Market, By Region, 2019-2032 (USD Billion)
8. Global HVAC Equipment Electric Motor Market, By Region, 2019-2032 (USD Billion)
9. Global Motor Vehicles Electric Motor Market, By Region, 2019-2032 (USD Billion)
10. Global Aerospace & Transportation Electric Motor Market, By Region, 2019-2032 (USD Billion)
11. Global Others Electric Motor Market, By Region, 2019-2032 (USD Billion)
12. North America Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
13. North America Electric Motor Market, By Application, 2019-2032 (USD Billion)
14. U.S. Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
15. U.S. Electric Motor Market, By Application, 2019-2032 (USD Billion)
16. Canada Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
17. Canada Electric Motor Market, By Application, 2019-2032 (USD Billion)
18. Mexico Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
19. Mexico Electric Motor Market, By Application, 2019-2032 (USD Billion)
20. Europe Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
21. Europe Electric Motor Market, By Application, 2019-2032 (USD Billion)
22. Germany Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
23. Germany Electric Motor Market, By Application, 2019-2032 (USD Billion)
24. France Electric Motor Market, By Motor Type 2019-2032 (USD Billion)
25. France Electric Motor Market, By Application, 2019-2032 (USD Billion)
26. U.K. Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
27. U.K. Electric Motor Market, By Application, 2019-2032 (USD Billion)
28. Italy Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
29. Italy Electric Motor Market, By Application, 2019-2032 (USD Billion)
30. Spain Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
31. Spain Electric Motor Market, By Application, 2019-2032 (USD Billion)
32. Asia Pacific Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
33. Asia Pacific Electric Motor Market, By Application, 2019-2032 (USD Billion)
34. Japan Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
35. Japan Electric Motor Market, By Application, 2019-2032 (USD Billion)
36. China Electric Motor Market, By Motor Type 2019-2032 (USD Billion)
37. China Electric Motor Market, By Application, 2019-2032 (USD Billion)
38. India Electric Motor Market, By Motor Type 2019-2032 (USD Billion)
39. India Electric Motor Market, By Application, 2019-2032 (USD Billion)
40. South America Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
41. South America Electric Motor Market, By Application, 2019-2032 (USD Billion)
42. Brazil Electric Motor Market, By Motor Type 2019-2032 (USD Billion)
43. Brazil Electric Motor Market, By Application, 2019-2032 (USD Billion)
44. Middle East and Africa Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
45. Middle East and Africa Electric Motor Market, By Application, 2019-2032 (USD Billion)
46. UAE Electric Motor Market, By Motor Type, 2019-2032 (USD Billion)
47. UAE Electric Motor Market, By Application, 2019-2032 (USD Billion)
48. South Africa Electric Motor Market, By Motor Type 2019-2032 (USD Billion)
49. South Africa Electric Motor Market, By Application, 2019-2032 (USD Billion)
List of Figures
1. Global Electric Motor Market Segmentation
2. Electric Motor Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Electric Motor Market Attractiveness Analysis by Motor Type
9. Global Electric Motor Market Attractiveness Analysis by Application
10. Global Electric Motor Market Attractiveness Analysis by Region
11. Global Electric Motor Market: Dynamics
12. Global Electric Motor Market Share by Motor Type (2022 & 2032)
13. Global Electric Motor Market Share by Application (2022 & 2032)
14. Global Electric Motor Market Share by Regions (2022 & 2032)
15. Global Electric Motor Market Share by Company (2022)
Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.
Market research is valuable because of the following reasons:
Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.
Our market research process involves with the four specific stages.
Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:
Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:
Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.
This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.
Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.
Free Customization
Countries can be added on demand
Free yearly update on purchase of Multi/Corporate User License
Companies served till date
We serve our customers 24x7 for 365 days through calls, emails and live chat options.
Huge database of exceptional market reports bringing market intelligence to your fingertips.
SSL enabled, we offer you various secured payment options for risk free purchase.