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The global electric motor market was worth around US$ 108.8 Billion in 2021.
We expect the global electric motor market to exhibit a CAGR of 4.25% during 2022-2027.
The increasing penetration of automation trends in several industrial applications, represents one of the
key factors driving the global electric motor market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of various manufacturing units for
Based on the motor type, the global electric motor market can be bifurcated into AC motor, DC motor,
and others. Currently, AC motor accounts for the majority of the total market share.
Based on the voltage, the global electric motor market has been segmented into low voltage electric
motors, medium voltage electric motors, and high voltage electric motors. Among these, low voltage
electric motors currently exhibit a clear dominance in the market.
Based on the rated power, the global electric motor market can be categorized into fractional
horsepower motors and integral horsepower motors. Currently, fractional horsepower motors hold the
majority of the global market share.
Based on the magnet type, the global electric motor market has been segregated into ferrite,
Neodymium (NdFeB), and Samarium Cobalt (SmCo5 and Sm2Co17). Among these, ferrite magnet
currently represents the largest market share.
Based on the weight, the global electric motor market can be divided into low weight motors, medium
weight motors, and high weight motors. Currently, low weight motors exhibit a clear dominance in the
Based on the speed, the global electric motor market has been bifurcated into high-speed motors, ultra-
high-speed motors, medium speed motors, and low speed motors. Among these, high-speed motors
currently account for the majority of the total market share.
Based on the application, the global electric motor market can be segmented into industrial machinery,
HVAC, transportation, household appliances, motor vehicles, aerospace, marine, robotics, and others.
Currently, industrial machinery holds the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East
and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global electric motor market include ABB Group, Siemens Ag, WEG SA,
TECO, Regal Beloit Corporation, Nidec Corporation, etc.
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