Select Language
Electric motors refer to mechanical devices which work on the basic principle of electromagnetism. Over the years, these motors have gained traction due to their growing usage in a number of applications ranging from hair dryers, toys, electric shavers and extractor fans to washing machines, dishwashers, coffee grinders, microwaves and electric can openers. A new research report by IMARC Group, titled “Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, estimates that the global electric motor market reached a value of US$ 108.8 Billion in 2021. The report further anticipates the market to reach a value of US$ 140.85 Billion by 2027, at a projected CAGR of 4.25% during 2022-2027.
Global Electric Motor Market Drivers/Constraints:
Motor Type Insights:
On the basis of motor type, the market has been segmented into AC and DC motors. The AC motors segment is further categorised into induction and synchronous AC motors, whereas the DC motors segment is segregated into brushed and brushless DC motors. Currently, AC motors are the most popular motor type, accounting for majority of the market share.
Voltage Insights:
Based on voltage, low voltage electric motors dominate the market as these motors consume less energy and are highly efficient. Low voltage electric motors are followed by medium and high voltage electric motors.
Rated Power Insights:
On the basis of rated power, the market has been segregated into fractional and integral horsepower electric motors. Currently, fractional horsepower motors are the leading segment as these motors are extensively used in household appliances, surgical devices, floor scrubbers, car windows, conveyors, etc.
Fractional Horsepower Insights:
Based on fractional horsepower, the report finds that fractional horsepower (1/8 – 1/2) motors dominate the market. These motors are followed by fractional horsepower (< 1/8) motors and fractional horsepower (1/2 – 1) motors.
Integral Horsepower Insights:
On the basis of integral horsepower, electric motors with integral horsepower between 1 – 5 hold the largest share of the global electric motor market. They are followed by motors with horsepower in the range 10 – 50, 50 – 100 and > 100.
Magnet Insights:
Based on magnet type, the market has been classified as ferrite, Neodymium (NdFeB) and Samarium Cobalt (SmCo5 and Sm2Co17) magnets. Amongst these, ferrite magnets are the most popular type of magnets used in electric motors worldwide.
Weight Insights:
On the basis of weight, low weight electric motors hold the largest share, followed by medium and high weight electric motors.
Speed Insights:
Based on speed, the report finds that high speed electric motors hold the biggest share. They are followed by ultra-high speed, medium speed and low speed electric motors.
Application Insights:
On the basis of application, the market has been segregated as industrial machinery, HVAC, transportation, household appliances, motor vehicles, aerospace, marine, robotics and others. Currently, Industrial machinery accounts for majority of the market share.
Regional Insights:
Region-wise, Asia-Pacific enjoys the leading position in the global electric motor market on account of rising inclination towards energy-efficient motors. Other major regions include North America, Europe, Middle East and Africa, and Latin America.
Competitive Landscape:
The global electric motor market is essentially fragmented with the presence of numerous small and large manufacturers who compete in terms of price and quality. Some of the leading players operating in the market are:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com