Electric Motor Market

An electric motor is a machine which converts electrical energy into mechanical energy. The motor can be used to produce a rotary force or a linear force. There are a variety of types of motors and different ways of controlling them. The basic working principle of an electric motor is that current flowing through the wire generates a magnetic field around the wire. This magnetic field induces a torque on the rotor conductors. The torque is the force required to turn the shaft.

A large motor can have a power rating of over 100 megawatts. This is due to the rotor conductors are short-circuited at each end. The induced voltage is reduced as the rotor moves and the torque is proportional to the induced voltage. The most common speed for a 60-hertz motor is 1,800 and 1,200 revolutions per minute. The speed can be adjusted by adjusting the voltage and reducing the time the motor is left on.

Market Dynamics:

The increasing use of electric vehicles and the demand for industrial automation are some of the major factors driving the electric motors market. The major players in the electric motors industry are focusing on innovation and development of highly efficient and energy-efficient electric motors. These companies are constantly investing in R&D activities to develop new and advanced electric motors. Moreover, the rapid urbanization in this region is expected to generate revenue for the market.

However, the lack of awareness about energy-efficient products is a major constraint on the market's growth.

Key features of the study:

• This report provides in-depth analysis of the global electric motor market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global electric motor market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Nidec Corporation, AMETEK Inc., ABB Ltd., Hitachi Ltd., Regal Rexnord Corporation, Robert Bosch GmbH, Johnson Electric Holdings Limited, Weg SA, Siemens AG, Toshiba Corp., Rockwell Automation Inc., and TECO-Westinghouse Motor Company
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global electric motor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric motor market

Detailed Segmentation:

• Global Electric Motor Market, By Motor Type
  • AC
  • DC
• Global Electric Motor Market, By Voltage
  • Less Than 1 kV
  • Between 1 kV – 6 kV
  • Higher Than 6 kV
• Global Electric Motor Market, By Application
  • Residential
  • Commercial
  • Automotive
  • Industrial
• Global Electric Motor Market, By Geography
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles
  • ABB Ltd
  • AMETEK Inc.
  • Regal Rexnord Corporation
  • Johnson Electric Holdings Limited
  • Siemens AG
  • Rockwell Automation Inc.
  • TECO-Westinghouse Motor Company
  • Toshiba Corp.
  • Weg SA
  • Robert Bosch GmbH
  • Hitachi Ltd
  • Nidec Corporation