Global Electric Motor Sales Market by Motor Type (DC, Hermetic, AC), by Power Output (Integral HP Output, Fractional HP Output) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global electric motor sales were valued at USD 142.7 million in 2020. This market is expected to grow at a 6.4% compound annual growth rate (CAGR), between 2021 and 2028. The market has seen a significant increase in awareness about green vehicles among its customers. The market will be supported by a growing number of government incentives that encourage green vehicle sales to protect the environment from carbon emission. The market for electric motors has been growing due to several technological advances over the last few years. The market has also been driven by the introduction of more efficient insulation materials, which have improved product life and operational efficiency. Due to the increase in automobile production, the market will experience significant growth during the forecast period.

It is used in pumps, compressors and machine tools. High-efficiency motors have many benefits. They have a long operating life, low maintenance and energy consumption. Additionally, they are highly tolerant to fluctuating voltages. This allows for cost savings. Major markets include Brazil, Argentina, China and India. They have high adoption rates for energy-efficient products in both agricultural and industrial sectors.

Rising electricity prices and strict electricity consumption standards are driving the demand for efficient motors. Manufacturers are also required to produce efficient products due to stringent manufacturing standards and design requirements. Markets are gradually moving towards motorized systems. The market is not realizing its full potential due to a lack of awareness and high initial costs.

Electric motors have many environmental benefits that are driving their adoption in electric cars. These devices can increase efficiency and reduce energy consumption. The demand for electric products will rise due to consumers' increasing awareness of environmental changes and the greenhouse effect. Over the next few years, the demand will be driven by the need for products with low power consumption and higher efficiency.

Motor Type Insights

The AC motor segment was the leader in terms of electric motor revenue and held the largest revenue share at 70.7% in 2020. AC motors are used in many applications, including irrigation pumps and modern robotics. This is why they have such a large share. They are also smaller, lighter, and cheaper than traditional AC motors. This makes them ideal for HVAC equipment. Electric AC motors have seen a rapid increase in adoption in the automotive sector due to the development of low-cost, efficient electronics and improvements in permanent magnet materials. The segment's growth is expected to be further supported by the increasing demand in other industries such as chemicals, paper, pulp, and wastewater treatment. The segment's growth is expected to be fueled by increasing sales of electrical vehicles and expanding the scope of the machine type.

Motors with brushless DC motors are in high demand due to the increasing popularity of features like sunroofs, adjustable mirrors, motorized seats and motorized windows. DC motors are used in variable speed control applications for industrial machinery, equipment, and electronic toys. Because of their low maintenance costs, brushless DC motors are popular and generate more revenue. The hermetic type will see the highest CAGR at 7.0% between 2021 and 2028. This is due to its ease of use, lower maintenance, and simple transportation. This segment's growth is also due to growing demand from HVAC systems manufacturers, backed up by suitability for such applications.

Power Output Insights

Fractional Horsepower (FHP), the output segment that produces the most revenue, dominated the market in 2020 with an 87.3% revenue share. Its wide range of uses in household appliances, including vacuum cleaners, coffee machines, and refrigerators, is what explains this high share. These motors are also useful in industrial equipment because they can be used in heavy industrial environments. These motors offer many advantages including high starting torque and stability that can withstand fluctuations in electric current.

FHP motors are also more energy efficient than their counterparts. This will lead to greater demand from industrial users who want to replace older machines with more efficient models. The highest CAGR is expected to be seen in the Integral Horsepower segment (IHP), which will see growth from 2021-2028. This segment's high growth is due to the growing demand for motors for industrial applications. IHP motors deliver more power to machines and devices. This drives their demand from high-end aerospace and transportation applications.

Application Insights

The motor vehicles segment was the leader in terms of electric motor sales and had the highest revenue share at 40.5% in 2020. The increased use of electric motors within the automotive industry is responsible for this high share. The average commercial vehicle has over 40 electric motors, ranging in power from low to high. The automotive market is driven by the introduction of inexpensive and highly efficient electronics as well as improvements in permanent magnet materials. Rising fuel prices and environmental pollution are driving a rapid rise in demand for electric cars in both developed and emerging countries like Germany, China, Japan, and the U.S. The electric vehicle market is driven by the large demand for electric motors.

Heavy industrial equipment, as well as vehicles and machinery used for agriculture, are all made with electric motors. Many countries, such as India, Sri Lanka and Vietnam, rely heavily on agriculture. These countries have seen an increase in demand for energy-efficient and low-cost products. Electric motors are a major component of HVAC equipment such as industrial and commercial air conditioners. This segment is expected to grow at 8.0% CAGR between 2021 and 2028. The segment is expected to grow due to the increased use of electric motors in various residential, office, and hotel buildings, as well as warehouses.

Regional Insights

Asia Pacific was the dominant market for electric motors and had the largest revenue share at 48.6% in 2020. This can be attributed to significant investments in industrialization and improvements in agriculture in countries like Australia, South Korea, India, South Korea and China. The market's growth prospects are expected to be boosted by the increased production and sale of electric cars in countries like China and Japan, as well as the presence established OEMs such Honda Motor Co., Ltd., Hyundai Motor Company, Toyota Industries Corporation, Nissan Motor Corporation, and Toyota Industries Corporation. From 2021 to 2028, the market will experience a 7.8% CAGR.

Asia Pacific was followed by Europe and North America, which held high market shares in 2020. They are also witnessing increasing demand. These are the most important markets for premium efficiency motors. They are used in HVAC, industrial applications and electric cars. The market for motors in Latin America, the Middle East and Africa is expected to grow rapidly due to increased government funding. These regions are seeing a rise in demand for motors in the oil and gas sector, rapid development of the mining industry, as well as a significant demand for cement in the construction industry.

Market Share Insights & Key Companies

There are many small and large players in the market. To improve the effectiveness of their products, companies are focusing more on research and development. Manufacturers have been forced to invest more in product development to meet customer needs. Companies are investing in R&D and constant innovation to create premium quality products that offer high value and competitive advantage in a price-sensitive market. The following are some of the most prominent players in electric motor sales:

• Baldor Electric Company, Inc.

• Ametek Inc.

• Franklin Electric Co., Inc.

• Asmo Co., Ltd.

Up Market Research published a new report titled “Electric Motor Sales Market research report which is segmented by Motor Type (DC, Hermetic, AC), by Power Output (Integral HP Output, Fractional HP Output), By Players/Companies Baldor Electric Company Inc, Ametek Inc, Asmo Co Ltd, Franklin Electric Co Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Electric Motor Sales Market Report Segments:

The market is segmented by Motor Type (DC, Hermetic, AC), by Power Output (Integral HP Output, Fractional HP Output).

Electric Motor Sales Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Electric Motor Sales Market

Overview of the regional outlook of the Electric Motor Sales Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Electric Motor Sales Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Electric Motor Sales Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. DC

                2. Hermetic

                3. AC

                1. Integral HP Output

                2. Fractional HP Output

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Electric Motor Sales Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Electric Motor Sales Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.