The North America electric motor market size reached US$ 26.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.9 Billion by 2027, exhibiting a growth rate (CAGR) of 3.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
An electric motor is an electro-mechanical device that converts electrical energy into mechanical energy. It works on the basic principle of electromagnetic induction according to which a current-carrying conductor always experiences a force in the presence of magnetic field. Electric motors offer long operational life, low energy consumption, low maintenance and high tolerance for fluctuating voltages. Owing to these benefits, electric motors are widely employed across various sectors, such as industrial machinery, motor vehicles, household appliances, HVAC equipment (heating-ventilating-air-conditioning), aerospace, transportation, etc.
The North America electric motor market is currently being driven by a number of factors. The increasing penetration of mechanization and automation across several industries has catalyzed the demand for electric motors in the region. In addition to this, rising technological advancements have led to the introduction of household appliances operated by electric motors, thereby positively influencing the market growth. Furthermore, electric motors are also employed in the agriculture industry for enhanced efficiency, controllability and long operational life of the machineries. Apart from this, rising per capita incomes coupled with the increasing environmental concerns have replaced fuel-driven automobiles with electric vehicles, thereby stimulating the demand for electric motors.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America electric motor market report, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on type, voltage, speed and applications.
- Key Regions Analysed
- Analysis for Each Country
- Market by Type
- AC Motor
- Induction AC Motor
- Synchronous AC Motor
- DC Motor
- Brushed DC Motor
- Brushless DC Motor
- Market by Voltage
- Low Voltage Electric Motors
- Medium Voltage Electric Motors
- High Voltage Electric Motors
- Market by Speed
- Ultra-High-Speed Motors
- High-Speed Motors
- Medium Speed Motors
- Low Speed Motors
- Market by Applications
- Industrial Machinery
- Household Appliances
- Motor Vehicles
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
|Base Year of the Analysis
||Type, Voltage, Speed, Applications, Country
||United States, Canada
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Key Questions Answered in This Report:
- How has the North America electric motor market performed so far and how will it perform in the coming years?
- What are the key regions in the North America electric motor market?
- What has been the impact of COVID-19 on the North America electric motor market?
- What is the breakup of the North America electric motor market on the basis of type?
- What is the breakup of the North America electric motor market on the basis of voltage?
- What is the breakup of the North America electric motor market on the basis of speed?
- What is the breakup of the North America electric motor market on the basis of applications?
- What are the various stages in the value chain of the North America electric motor industry?
- What are the key driving factors and challenges in the North America electric motor industry?
- What is the structure of the North America electric motor industry and who are the key players?
- What is the degree of competition in the North America electric motor industry?
- What are the profit margins in the North America electric motor industry?