Electric motors are electro-mechanical devices which work on the principle of electromagnetic induction. They are durable and highly efficient, require low maintenance, consume less energy, and have high endurance for fluctuating voltages. In addition, electric motors cost considerably lower than a fossil-fuel engine. Owing to this, electric motors find applications in diverse industries ranging from automobiles to oil and gas, where they are installed in industrial fans, machine tools, compressors, electric cars, domestic appliances, hard disk drives, etc. According to the latest report by IMARC Group, titled “Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global electric motor market reached a value of nearly US$ 125 Billion in 2018, growing at a CAGR of 5.5% during 2011-2018.
There are several factors currently driving the electric motor market growth globally. Expansion in industrial automation along with advancements in technology is the major growth-inducing factor of the market. Moreover, the trend of replacing gas turbines with electric motors in large industrial plants is propelling their demand. Further, the growth of the market is gaining traction owing to the increasing demand for vehicles supported by improving standards of living and rising purchasing power of the consumers. Additionally, government initiatives aimed to boost the sales of electric vehicles so as to reduce carbon emissions is expected to fuel the electric motor market growth. Looking forward, the market value is projected to reach nearly US$ 162 Billion by 2024.
Market Summary:
- Based on motor type, the market has been bifurcated into AC and DC motors, wherein AC motors holds the largest share. The AC motors segment is further divided into induction and synchronous AC motors, whereas the DC motors segment is segregated into brushed and brushless DC motors.
- On the basis of voltage, low voltage electric motors account for the majority of the total share, followed by medium and high voltage electric motors.
- The market has also been segmented on the basis of rated power into fractional horsepower and integral horsepower electric motors. Amongst these, fractional horsepower electric motors dominate the market.
- Based on fractional horsepower, the market has been segregated into fractional horsepower (< 1/8) motors, fractional horsepower (1/8 – 1/2) motors and fractional horsepower (1/2 – 1) motors. Amongst these, fractional horsepower (1/8 – 1/2) motors dominates the market.
- On the basis of integral horsepower, electric motors with integral horsepower between 1 – 5 hold the largest share. They are followed by motors with horsepower in the range 10 – 50, 50 – 100 and > 100.
- Based on magnet type, ferrite magnets represent the leading segment. They are followed by NdFeB and SmCo magnets.
- On the basis of weight, low weight motors hold the largest share, followed by medium and high weight motors.
- The market has also been divided on the basis of speed into high speed, ultra-high speed, medium speed and low speed electric motors. Currently, high speed electric motors hold the biggest share.
- Industrial machinery is the leading application sector, accounting for the majority of the total market share. It is followed by HVAC, transportation, household appliances, motor vehicles, aerospace, marine and robotics.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the leading market, accounting for the majority of the global share.
- The competitive landscape of the market has also been examined with some of the key players being ABB Group, Siemens Ag, WEG SA, TECO, Regal Beloit Corporation and Nidec Corporation.
This report provides a deep insight into the global electric motor market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the electric motor industry in any manner.
Key Questions Answered in This Report:
- How has the global electric motor market performed so far and how will it perform in the coming years?
- What are the key regions in the global electric motor market?
- Which are the popular motor types in the global electric motor market?
- What are the key application segments in the global electric motor market?
- What are the popular voltage types in the global electric motor market?
- What are the major end-use sectors in the global electric motor market?
- What are the key rated power segments in the global electric motor market?
- What are the major magnet types in the global electric motor market?
- What are the various stages in the value chain of the global electric motor market?
- What are the key driving factors and challenges in the global electric motor market?
- What is the structure of the global electric motor market and who are the key players?
- What is the degree of competition in the global electric motor market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Electric Motor Industry
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Motor Type
5.4 Market Breakup by Voltage
5.5 Market Breakup by Rated Power
5.6 Market Breakup by Magnet Type
5.7 Market Breakup by Region
5.8 Market Breakup by Weight
5.9 Market Breakup by Speed
5.10 Market Breakup by Application
5.11 Market Forecast
6 Market Performance by Type
6.1 AC Motor
6.1.1 Current and Historical Market Trends
6.1.2 Market Breakup by Type
6.1.2.1 Induction AC Motor
6.1.2.1.1 Market Trends
6.1.2.1.2 Market Forecast
6.1.2.2 Synchronous AC Motor
6.1.2.2.1 Market Trends
6.1.2.2.2 Market Forecast
6.1.3 Market Forecast
6.2 DC Motor
6.2.1 Current and Historical Market Trends
6.2.2 Market Breakup by Type
6.2.2.1 Brushed DC Motor
6.2.2.1.1 Market Trends
6.2.2.1.2 Market Forecast
6.2.2.2 Brushless DC Motor
6.2.2.2.1 Market Trends
6.2.2.2.2 Market Forecast
6.2.3 Market Forecast
6.3 Others
6.3.1 Current and Historical Market Trends
6.3.2 Market Forecast
7 Market Performance by Voltage
7.1 Low Voltage Electric Motors
7.1.1 Current and Historical Market Trends
7.1.2 Market Forecast
7.2 Medium Voltage Electric Motors
7.2.1 Current and Historical Market Trends
7.2.2 Market Forecast
7.3 High Voltage Electric Motors
7.3.1 Current and Historical Market Trends
7.3.2 Market Forecast
8 Market Performance by Rated Power
8.1 Fractional Horsepower Motors
8.1.1 Current and Historical Market Trends
8.1.2 Market Forecast
8.2 Integral Horsepower Motors
8.2.1 Current and Historical Market Trends
8.2.2 Market Forecast
9 Market Performance by Fractional Horsepower
9.1 Fractional Horsepower (< 1/8) Motors
9.1.1 Current and Historical Market Trends
9.1.2 Market Forecast
9.2 Fractional Horsepower (1/8 - 1/2) Motors
9.2.1 Current and Historical Market Trends
9.2.2 Market Forecast
9.3 Fractional Horsepower (1/2 - 1) Motors
9.3.1 Current and Historical Market Trends
9.3.2 Market Forecast
10 Market Performance by Integral Horsepower
10.1 Integral Horsepower (1 - 5) Motors
10.1.1 Current and Historical Market Trends
10.1.2 Market Forecast
10.2 Integral Horsepower (10 - 50) Motors
10.2.1 Current and Historical Market Trends
10.2.2 Market Forecast
10.3 Integral Horsepower (50 - 100) Motors
10.3.1 Current and Historical Market Trends
10.3.2 Market Forecast
10.4 Integral Horsepower (>100) Motors
10.4.1 Current and Historical Market Trends
10.4.2 Market Forecast
11 Market Performance by Magnet Type
11.1 Ferrite
11.2 Neodymium (NdFeB)
11.3 Samarium Cobalt (SmCo5 and Sm2Co17)
12 Market Performance by Region
12.1 Asia-Pacific
12.1.1 Current and Historical Market Trends
12.1.2 Market Forecast
12.2 North America
12.2.1 Current and Historical Market Trends
12.2.2 Market Forecast
12.3 Europe
12.3.1 Current and Historical Market Trends
12.3.2 Market Forecast
12.4 Middle East and Africa
12.4.1 Current and Historical Market Trends
12.4.2 Market Forecast
12.5 Latin America
12.5.1 Current and Historical Market Trends
12.5.2 Market Forecast
13 Market Performance by Weight
13.1 Low Weight Motors
13.1.1 Current and Historical Market Trends
13.1.2 Market Forecast
13.2 Medium Weight Motors
13.2.1 Current and Historical Market Trends
13.2.2 Market Forecast
13.3 High Weight Motors
13.3.1 Current and Historical Market Trends
13.3.2 Market Forecast
14 Market Performance by Speed
14.1 Ultra-High-Speed Motors
14.1.1 Current and Historical Market Trends
14.1.2 Market Forecast
14.2 High-Speed Motors
14.2.1 Current and Historical Market Trends
14.2.2 Market Forecast
14.3 Medium Speed Motors
14.3.1 Current and Historical Market Trends
14.3.2 Market Forecast
14.4 Low Speed Motors
14.4.1 Current and Historical Market Trends
14.4.2 Market Forecast
15 Market Performance by Applications
15.1 Industrial Machinery
15.1.1 Current and Historical Market Trends
15.1.2 Market Forecast
15.2 HVAC
15.2.1 Current and Historical Market Trends
15.2.2 Market Forecast
15.3 Transportation
15.3.1 Current and Historical Market Trends
15.3.2 Market Forecast
15.4 Household Appliances
15.4.1 Current and Historical Market Trends
15.4.2 Market Forecast
15.5 Motor Vehicles
15.5.1 Current and Historical Market Trends
15.5.2 Market Forecast
15.6 Aerospace
15.6.1 Current and Historical Market Trends
15.6.2 Market Forecast
15.7 Marine
15.7.1 Current and Historical Market Trends
15.7.2 Market Forecast
15.8 Robotics
15.8.1 Current and Historical Market Trends
15.8.2 Market Forecast
15.9 Others
15.9.1 Current and Historical Market Trends
15.9.2 Market Forecast
16 Competitive Landscape
16.1 Market Structure
16.2 Market Breakup by Key Players
17 Key Players Profiles
17.1 ABB Group
17.1.1 Company Overview
17.1.2 Company Description
17.1.3 Product Portfolio
17.1.4 Financials
17.1.5 Key Contacts
17.2 Siemens Ag
17.2.1 Company Overview
17.2.2 Company Description
17.2.3 Operations
17.2.4 Product Portfolio
17.2.5 Geographic Reach
17.2.6 Sales and Marketing
17.2.7 Strategy
17.2.8 Mergers and Acquisitions
17.2.9 SWOT Analysis
17.2.10 Financials
17.2.11 Key Contacts
17.3 WEG SA
17.3.1 Company Overview
17.3.2 Company Description
17.3.3 Product Portfolio
17.3.4 Financials
17.3.5 Key Contacts
17.4 TECO
17.4.1 Company Overview
17.4.2 Company Description
17.4.3 Product Portfolio
17.4.4 Financials
17.4.5 Key Contacts
17.5 Regal Beloit Corporation
17.5.1 Company Overview
17.5.2 Company Description
17.5.3 Product Portfolio
17.5.4 Operations
17.5.5 Geographic Reach
17.5.6 Sales and Marketing
17.5.7 Strategy
17.5.8 Mergers and Acquisitions
17.5.9 Financials
17.5.10 Key Contacts
17.6 Nidec Corporation
17.6.1 Company Overview
17.6.2 Company Description
17.6.3 Product Portfolio
17.6.4 Geographic Reach
17.6.5 Strategy
17.6.6 SWOT Analysis
17.6.7 Financials
17.6.8 Key Contacts
List of Figures
Figure 1: Global: Electric Motors Industry: Major Drivers and Challenges
Figure 2: Global: Electric Motors Market: Sales Value (in Billion US$), 2011-2018
Figure 3: Global: Electric Motors Market: Breakup by Motor Type (in %), 2018
Figure 4: Global: Electric Motors Market: Breakup by Voltage (in %), 2018
Figure 5: Global: Electric Motors Market: Breakup by Rated Power (in %), 2018
Figure 6: Global: Fractional Horsepower Electric Motors Market: Breakup by Rated Power (in %), 2018
Figure 7: Global: Integral Horsepower Electric Motors Market: Breakup by Rated Power (in %), 2018
Figure 8: Global: Electric Motors Market: Breakup by Magnet Type (in %), 2018
Figure 9: Global: Electric Motors Market: Breakup by Region (in %), 2018
Figure 10: Global: Electric Motors Market: Breakup by Weight (in %), 2018
Figure 11: Global: Electric Motors Market: Breakup by Speed (in %), 2018
Figure 12: Global: Electric Motors Market: Breakup by Applications (in %), 2018
Figure 13: Global: Electric Motors Market Forecast: Sales Value (in US$ Billion), 2019-2024
Figure 14: Global: AC Motor Market: Sales Value (in Million US$), 2011-2018
Figure 15: Global: AC Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 16: Global: Induction AC Motor Market: Sales Value (in Million US$), 2011-2018
Figure 17: Global: Induction AC Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 18: Global: Synchronous AC Motor Market: Sales Value (in Million US$), 2011-2018
Figure 19: Global: Synchronous AC Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 20: Global: DC Motor Market: Sales Value (in Million US$), 2011-2018
Figure 21: Global: DC Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 22: Global: Brushed DC Motor Market: Sales Value (in Million US$), 2011-2018
Figure 23: Global: Brushed DC Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 24: Global: Brushless DC Motor Market: Sales Value (in Million US$), 2011-2018
Figure 25: Global: Brushless DC Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 26: Global: Other Motors Market: Sales Value (in Million US$), 2011-2018
Figure 27: Global: Other Motors Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 28: Global: Low Voltage Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 29: Global: Low Voltage Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 30: Global: Medium Voltage Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 31: Global: Medium Voltage Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 32: Global: High Voltage Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 33: Global: High Voltage Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 34: Global: Electric Motors (with Fractional Horsepower) Market: Sales Value (in Million US$), 2011-2018
Figure 35: Global: Electric Motors (with Fractional Horsepower) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 36: Global: Electric Motor (with Integral Horsepower) Market: Sales Value (in Million US$), 2011-2018
Figure 37: Global: Electric Motor (with Integral Horsepower) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 38: Global: Electric Motors (Fractional Horsepower < 1/8) Market: Sales Value (in Million US$), 2011-2018
Figure 39: Global: Electric Motors (Fractional Horsepower < 1/8) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 40: Global: Electric Motors (Fractional Horsepower 1/8-1/2) Market: Sales Value (in Million US$), 2011-2018
Figure 41: Global: Electric Motors (Fractional Horsepower 1/8-1/2) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 42: Global: Electric Motors (Fractional Horsepower 1/2-1) Market: Sales Value (in Million US$), 2011-2018
Figure 43: Global: Electric Motors (Fractional Horsepower 1/2-1) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 44: Global: Electric Motors (Integral Horsepower 1 - 5) Market: Sales Value (in Million US$), 2011-2018
Figure 45: Global: Electric Motors (Integral Horsepower 1 - 5) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 46: Global: Electric Motors (Integral Horsepower 10 - 50) Market: Sales Value (in Million US$), 2011-2018
Figure 47: Global: Electric Motors (Integral Horsepower 10 - 50) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 48: Global: Electric Motors (Integral Horsepower 50 - 100) Market: Sales Value (in Million US$), 2011-2018
Figure 49: Global: Electric Motors (Integral Horsepower 50 - 100) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 50: Global: Electric Motors (Integral Horsepower >100) Market: Sales Value (in Million US$), 2011-2018
Figure 51: Global: Electric Motors (Integral Horsepower >100) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 52: Asia-Pacific: Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 53: Asia-Pacific: Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 54: North America: Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 55: North America: Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 56: Europe: Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 57: Europe: Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 58: Middle East and Africa: Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 59: Middle East and Africa: Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 60: Latin America: Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 61: Latin America: Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 62: Global: Low Weight Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 63: Global: Low Weight Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 64: Global: Medium Weight Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 65: Global: Medium Weight Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 66: Global: High Weight Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 67: Global: High Weight Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 68: Global: Ultra-High-Speed Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 69: Global: Ultra-High-Speed Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 70: Global: High-Speed Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 71: Global: High-Speed Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 72: Global: Medium Speed Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 73: Global: Medium Speed Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 74: Global: Low Speed Electric Motor Market: Sales Value (in Million US$), 2011-2018
Figure 75: Global: Low Speed Electric Motor Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 76: Global: Electric Motor Market (Applications in Industrial Machinery): Sales Value (in Million US$), 2011-2018
Figure 77: Global: Electric Motor Market (Applications in Industrial Machinery) Forecast: Sales Value (in Million US$), 2019-2024
Figure 78: Global: Electric Motor Market (Applications in HVAC): Sales Value (in Million US$), 2011-2018
Figure 79: Global: Electric Motor Market (Applications in HVAC) Forecast: Sales Value (in Million US$), 2019-2024
Figure 80: Global: Electric Motor Market (Applications in Transportation): Sales Value (in Million US$), 2011-2018
Figure 81: Global: Electric Motor Market (Applications in Transportation) Forecast: Sales Value (in Million US$), 2019-2024
Figure 82: Global: Electric Motor Market (Applications in Household Appliances): Sales Value (in Million US$), 2011-2018
Figure 83: Global: Electric Motor Market (Applications in Household Appliances) Forecast: Sales Value (in Million US$), 2019-2024
Figure 84: Global: Electric Motor Market (Applications in Motor Vehicles): Sales Value (in Million US$), 2011-2018
Figure 85: Global: Electric Motor Market (Applications in Motor Vehicles) Forecast: Sales Value (in Million US$), 2019-2024
Figure 86: Global: Electric Motor Market (Applications in Aerospace Sector): Sales Value (in Million US$), 2011-2018
Figure 87: Global: Electric Motor Market (Applications in Aerospace Sector) Forecast: Sales Value (in Million US$), 2019-2024
Figure 88: Global: Electric Motor Market (Applications in Marine Sector): Sales Value (in Million US$), 2011-2018
Figure 89: Global: Electric Motor Market (Applications in Marine Sector) Forecast: Sales Value (in Million US$), 2019-2024
Figure 90: Global: Electric Motor Market (Applications in Robotics): Sales Value (in Million US$), 2011-2018
Figure 91: Global: Electric Motor Market (Applications in Robotics) Forecast: Sales Value (in Million US$), 2019-2024
Figure 92: Global: Electric Motor Market (Other Applications): Sales Value (in Million US$), 2011-2018
Figure 93: Global: Electric Motor Market (Other Applications) Forecast: Sales Value (in Million US$), 2019-2024
Figure 94: Global: Electric Motors Market: Breakup by Key Players (% by Revenues), 2018
Figure 95: Siemens AG: SWOT Analysis
Figure 96: Nidec Corporation: SWOT Analysis
List of Tables
Table 1: Global: Electric Motor Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Electric Motor Market Forecast: Breakup by Motor Type (in Million US$), 2019-2024
Table 3: Global: Electric Motor Market Forecast: Breakup by Voltage (in Million US$), 2019-2024
Table 4: Global: Electric Motor Market Forecast: Breakup by Rated Power (in Million US$), 2019-2024
Table 5: Global: Electric Motor Market Forecast: Breakup by Fractional Horsepower (in Million US$), 2019-2024
Table 6: Global: Electric Motor Market Forecast: Breakup by Integral Horsepower (in Million US$), 2019-2024
Table 7: Global: Electric Motor Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 8: Global: Electric Motor Market Forecast: Breakup by Weight (in Million US$), 2019-2024
Table 9: Global: Electric Motor Market Forecast: Breakup by Speed (in Million US$), 2019-2024
Table 10: Global: Electric Motor Market Forecast: Breakup by Applications (in Million US$), 2019-2024
Table 11: Global: Electric Motor Market: Competitive Landscape
Table 12: ABB Group: Product Portfolio (Motors Segment)
Table 13: ABB Ltd.: Key Financials (in Million US$), 2013-2017
Table 14: ABB Group: Key Contacts
Table 15: Siemens Ag: Product Portfolio (Motors Segment)
Table 16: Siemens: Key Financials (in Million US$), 2012 - 2016
Table 17: Siemens Ag: Key Contacts
Table 18: WEG SA: Product Portfolio (Motors Segment)
Table 19: WEG SA: Key Financials (in Million US$), 2012-2016
Table 20: WEG SA: Key Contacts
Table 21: TECO: Product Portfolio (Motors Segment)
Table 22: TECO: Key Financials (in Million US$), 2012-2016
Table 23: TECO: Key Contacts
Table 24: Regal Beloit Corporation: Product Portfolio (Motors Segment)
Table 25: Regal Beloit Corporation: Key Financials (in US$ Million), 2012-2016
Table 26: Regal Beloit Corporation: Key Contacts
Table 27: Nidec Corporation: Product Portfolio (Motors Segment)
Table 28: Nidec Corporation: Key Financials (in US$ Million), 2012-2016
Table 29: Nidec Corporation: Key Contacts