The global electric motor market size is projected to reach US$ 145,496.1 million by 2030, growing at a CAGR of 5.3%. The electric motor converts electrical energy into mechanical energy. Its components include rotor, bearings, stator, air gap, windings, and commutator. Factors such as angular movements, torque requirements, acceleration, speed, and control make AC motors an ideal choice for robotic system manufacturers.
hunt, series, permanent magnetics, and others are different types of DC motors, while synchronous machines, reluctance motors, and others are different types of AC motors. Electric motors commonly find applications in OEM based products, pumps, conveyor systems, compressors, fans, and industrial machineries. AC and DC motors can be developed through integration of electronic hardware and sensors that offers predictive maintenance and reduces downtime during maintenance.
The rise in demand for superior machine control in automotive industry, owing to the high efficiency of AC synchronous motors fuels the electric motor market growth. The regulations such as Minimum Energy Performance Standards (MEPS), drives the growth of energy efficient electric motors market across the world. The material handling systems serve as the key consumers of fractional horsepower (FHP) motors, thus boosting their demand across the globe. Moreover, the adoption of motors ranging 21-60 V in HVAC sectors, owing to the heat dissipation, are anticipated to exhibit high demand for these motors in the coming years.
However, the industrial motors with high power rating generate substantial vibration, strain, and heating during their performance, which could potentially have profound influence over electronic components, and result in their malfunction. In addition, lack of awareness of benefits associated with smart motors among small and medium enterprise owners for various applications is expected to hinder the growth of the electric motor market during the forecast period.
The global electric motor market is segmented into motor type, output power, voltage range, application, speed, and region.
Based on motor type, the global market is divided into AC, DC, and hermetic motors. AC motors has two subsegments, which includes synchronous AC motors, and induction AC motor. Similarly, DC motor is further classified as brushed DC motor and brushless DC motor.
In 2020, the AC motor segment held the largest share, due to increase in demand for energy-efficient conveyor systems in manufacturing and automotive industries.
Based on output power, it is classified into integral horsepower (IHP) output, and fractional horsepower (FHP) output.
By voltage range, the market is categorized into 9 V & below, 10-20 V, 21-60 V, and 60 V & above. In 2020, the 60 V & above motor segments held the largest share, due to its increase in demand in heavy industrial machinery industry for energy-efficient conveyor systems in manufacturing and automotive industries.
Based on application, the global electric motor market is classified into industrial machinery, motor vehicles, heating, ventilating, and cooling equipment (HVAC), aerospace & transportation, household appliances, and other commercial applications. In 2020, the industrial machinery segment held the largest share, due to increase in demand for compressors systems in manufacturing and automotive industries.
Based on speed (rpm), it is classified into low-speed electric motors (less than 1,000 rpm), medium-speed electric motors (1,001-25,000 rpm), high-speed electric motors (25,001-75,000 rpm), and ultrahigh-speed electric motors (greater than 75,001 RPM).
Region wise, the electric motor market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2020, North America accounted for the highest share, and is anticipated to secure the leading position during the forecast period. This is attributed to industrial growth and expansion of aerospace industry. U.S. is a pioneer in the electric motor market. Therefore, the electric motor market share is highest among the North American countries.
The major players operating in the global electric motor market include Ametek Incorporation, Siemens AG, Baldor Electric Incorporation, Allied Motion Technologies Inc., ARC Systems Incorporation, Asmo Corporation Limited, Brook Crompton UK Limited, Franklin Electric Cooperative Incorporation, Rockwell Automation Incorporation, and Johnson Electric Holdings Limited.
Key players in the global electric motor market adopted partnership and product launch as its key developmental strategy to expand its business and improve its product portfolio. For instance, in January 2019, WEG S.A, and Spanish private firm, a leading provider of pork signed partnership agreement. According to the agreement Spanish private firm has installed W22 Magnet IE4 electric motors in refrigeration system at the Manresa facilities. Similarly, in December 2020, Nord Drivesystems launched IE4, AC synchronous motors for applications in food & beverage industries. Through this move Nord expanded its portfolio of PM synchronous motor.
Key Benefits For Electric Motors Market:
Global Electric Motor Market Segments:
By Motor Type
By Output Power
By Voltage Range
By Speed (RPM)
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