Electric Motors Market By Type (AC & DC Motors), Output Capacity (Low, Medium, High Voltage Motors), Application (Automobile, HVAC Equipment, Industrial Application, Aerospace and Defense, Utilities, Commercial Sectors), Energy Efficiency Class (IE1, IE2, IE3, Below IE1 Class Motors) - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022

The market for electric motors market is expected to see significant growth throughout the forecast period 2015 – 2022 with rising demand for energy-efficient electric motors driven systems (EDMS). Countries across the world are focusing on reducing electricity consumption and introducing mandatory policies to use energy-efficient electric motors and electric motor-driven systems. In addition, the rising production of motor vehicles and HVAC equipment represents a positive outlook for electric motor manufacturers and distributors. This research study provides an in-depth analysis of the electric motor market to market players across the value chain of the electric motor industry. This report would help industry participants to find out key opportunity segments in this market.

The global electric motors market was valued at US$ 86.51 Bn in 2014 and are likely to cross US$ 135.00 Bn by 2022, growing at a CAGR of 5.8% through the forecast period 2015 to 2022.

Target Audience

  • Electric Motors Manufacturers
  • Electric Motors Distributors
  • Suppliers for Electric Motors Manufacturers
  • Electric Motor Driven Systems (EMDS) Integrators
  • Component Manufacturers
  • Other End-users

We have considered electric motors used in the following end-use applications:

  • Automobile
  • Industrial Machinery
  • Petro Chemical and Oil Refining
  • Food and Beverage
  • Medical Equipment
  • Pulp and Paper
  • Construction and Mining
  • Other Industrial
  • Heating, Ventilating, and Air Conditioning (HVAC) Equipment
  • Aerospace and Defense
  • Home Appliances
  • Utility Industry
  • Commercial

The automobile segment is the largest end-use application segment for electric motors and is expected to remain the largest segment through the forecast period 2015 -2022, with rising demand for motor vehicles across the world. Heating, Ventilating, and Air Condition equipment is the fastest growing end-use application segment for electric motors. This growth is primarily attributed to the growing construction industry in the Asia Pacific, Middle East, and North America. Industrial machinery is another attractive segment for electric motors.

Electric motors are used in several industrial systems, including industrial pumps and fans, fluid control systems, liquid, and air compressors, elevators, conveyors, high-speed pick and place equipment, packaging, and other industrial types of machinery. Mandatory energy consumption regulations and the rising need to reduce operational costs are motivating industrial users to replace their outdated low-efficient electric motors with high-energy efficient electric motors. Electric motors used in Home appliances, utility sectors, and commercial applications are also expected to see significant growth through the forecast period 2015 – 2022.

Types of Electric Motors - Segmentation Analysis

We have classified electric motors into two major types AC motors and DC motors. AC motors are used in both residential and well as industrial applications and account for the largest revenue share compared to DC motors. However, AC motors are expected to grow at a slower pace compared to DC motors. DC motors are commonly found in their applications in Automobiles and nowadays in HVAC equipment for speed control applications. DC motors are also used in small steel manufacturing machines, electronic toys, paper machines, disk drives, etc.

Based on the output capacity of electric motors, we have classified these motors into low voltage electric motors, medium voltage electric motors, and high voltage electric motors. In low voltage electric motors, we have considered electric motors that have output voltage below 0.746 KW. In medium voltage electric motors, we have considered motors that have an output range between 0.746 KW and 375 KW. The high voltage segment includes electric motors include electric motors that have an output range greater than 375 KW. Low voltage electric motors accounted for the largest revenue share in the global electric motors market in 2014. Low voltage motors are used in automobile manufacturing for driving auxiliary applications such as electric windows, windshield wipers, central locking systems, wing mirrors, powered seats and roof, and trunk openers. Some other major end users for low voltage electric motors include manufacturers of home appliances, HVAC equipment, office machinery, medical devices, pumps and compressors, and portable tools. In addition, low voltage motors are also used in processing machinery, aerospace, and in the marine sector. High voltage electric motors are commonly used in industrial applications and are expected to see steady growth through the forecast period. Industrial users are retrofitting their facilities with energy-efficient electric motors to reduce their electricity consumption.

An electric motor is a machine that converts electric energy into mechanical energy. These motors are used in a range of industrial, residential, and commercial electric motor-driven systems (EMDS) for energy generation applications. Electric motors commonly found their applications in elevators, compressors, fans, refrigerators, vacuum cleaners, pumps, and several other electric motor-driven systems.

In May 1934, Moritz Jacobi, a German engineer, introduced the first rotating electric motor, and since then, electric motors have been popular in Europe, particularly in UK, Prussia, and Italy. This was the first electric motor with remarkable mechanical power introduced after several tries by different engineers across the world. Four years later, in 1938, Jacobi introduced an upgraded model with better output which had the capacity to drive a boat of 14 people. After this, other engineers across the world developed electric motors with similar capabilities.

In 1835, Christopher Becker and Sibrandus Stratingh together developed an electric motor to drive small cars. In 1837, Thomas Davenport introduced the electric motor in America and was the first to receive a patent for the same. After this, several patents related to electric motors were issued across the world between 1837 and 1866, and around 100 patents were issued to engineers in England during the same period. After this, electric motors started to commercialize across the world.

The global electric motors industry is now saturated and comprises a large number of international as well as local manufacturers. North America and Europe are relatively mature markets and are expected to see steady growth through the forecast period. This growth is primarily attributed to stringent energy consumption regulations, which force consumers to replace their old electric motor-driven systems (EDMS) with energy-efficient systems.

The Asia Pacific is the most attractive market for electric motor manufacturers and suppliers. Increasing industrialization in India, Japan, China, Indonesia, South Korea, Thailand, Singapore, Australia, and Malaysia is influencing the demand for electric motor-driven systems in these countries. In addition, the residential and commercial construction industry in Asia-Pacific is growing at a steady pace and is expected to grow through the forecast period 2015 - 2022.

The growing construction industry is expected to increase the demand for heating, ventilating, and air conditioning (HVAC) equipment, home appliances, elevators, escalators, and other EMDS in the Asia Pacific. Brazil, Russia, and South Africa are some other attractive markets for electric motor manufacturers as these counties are investing a significant amount in the construction industry.

International Electrotechnical Commission (IEC) is collaboratively working with several national regulatory bodies to introduce new efficiency classes to design, develop and deploy electric motors. Major countries such as the U.S., China, Australia, and European Union have developed their own standards to match international energy efficiency standards.

The following are types of efficiency classes currently effective in countries across the world.

The global electric motor market is classified into four major regional markets, i.e., North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Middle East, Africa, and South American electric motors market are covered under the Row region. In 2014, Asia-Pacific accounted for the largest revenue share of 67.5% in the global electric motors market and was also expected to see the fastest growth through the forecast period 2015 – 2022.

This growth in the Asia Pacific electric motors market growth is primarily attributed to a positive economic outlook, growing construction industry, and industrialization, particularly in India, China, Australia, South Korea, Singapore, Indonesia, and several other countries in the region. North America and Europe are expected to see relatively slow growth due to economic slowdown in the major countries such as the U.S., Germany, and U.K. However, both these regions have introduced stringent energy consumption regulations in order to reduce electricity consumption in both residential and industrial sectors.

This is driving the demand for energy-efficient electric motors in these regions. In addition, the rising demand for electric and hybrid vehicles in Europe and the U.S. also represents a positive outlook for electric motor manufacturers in these regions. The Middle East is the largest exporter of oil and petroleum products. Growth in the oil and gas industry is the primary influencing factor for the demand for electric motors in the region. Demand for electric motors is also growing steadily with the growing construction and mining industry and the sale of related equipment and machinery.

Frequently Asked Questions

The market for Electric Motors is expected to reach US$ 135.68 Bn in 2028.

The Electric Motors market is expected to see significant CAGR growth over the coming years, at 5.8 %.

The report is forcasted from 2015-2022.

The base year of this report is 2021.

Siemens AG, Rockwell Automation Inc., ARC Systems, Inc., Allied Motion Technologies Inc, Tesla Motor Inc, Ametek, Inc., Regal Beloit Corp., Johnson Electric Holdings Ltd are some of the major players in the global market.

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Published Date:  Mar 2016
Category:  Semiconductor & Electronics
Report ID:   57711
Report Format:   PDF
Pages:   140
Rating:    4.5 (60)
Delivery Time: 24 Hours to 48 Hours   
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