Electric Motor Market - Segmented by Motor Type, Voltage, Application, Power Output, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Electric Motor Market - Segmented by Motor Type, Voltage, Application, Power Output, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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Electric Motor Market

The increasing demand for electrical energy to sustain global development requires consistent heavy investments in power supply generation. However, in addition to complex medium and long-term planning, natural resources, which are getting depleted also plays an important role on the investment decisions. The best strategy, therefore, to maintain energy supply in the short term is to increase the energy efficiency and avoid wastage. Electric motors are expected to play a major role in this strategy since approximately 40% of global energy demand is estimated to be related to electric motor applications. In order to reduce energy consumption and carbon dioxide emissions, many governments worldwide have established local regulations, such as MEPS (Minimum Energy Performance Standards), which is expected to drive the demand for environmental friendly and energy efficient electric motors in the country. Moreover, factors, such as increasing industrial activities, growing deployment of electric vehicles across numerous countries, are expected to supplement the demand for electric motors during the forecast period.

Favorable Government Policies to drive the Demand

Various governments across the globe have mandated several targets concerning reduction of CO2 emissions. These targets aim for 95 g CO2/km cap by 2020 and are anticipated to become more stringent beyond 2020. Fulfilling these targets require complete vehicle electrification, thereby, strengthening the product penetration over the forecast timeframe. Numerous countries across the globe, such as China and the United States have supported the sale of electric vehicles by favorable policies and economic subsidies. Sales of electric vehicles has witnessed a tremendous increase owing to favorable government policies and is expected to witness similar growth in the coming years, which is expected to spur the demand for electric motors in the country.

Asia-Pacific to Offer High Growth Rate

The electric motor market in the Asia-Pacific region is primarily driven by a number of factors, such as economic growth in the emerging nations, increasing penetration of electric vehicles, and rising industrial activities. Moreover, the demand for energy-efficient electric motors from the oil & gas production sites apart from the residential and commercial sector in the Asia-Pacific region has seen an unprecedented increase during the past few years and is expected to increase further during the forecast period. Furthermore, industries, such as automotive, chemical, fertilizers and petrochemical are witnessing steady growth in the region, which is expected to offer tremendous growth opportunity for the global electric motor players in the Asia-Pacific region.

United States Set to Witness High Demand

The past three years were challenging for the global oil & gas industry, which recorded a 25% and 26% decline in upstream investment in 2015 and 2016 respectively, with major oil & gas projects either getting stalled or delayed. However, the oil & gas operators remained unfazed by the global oil prices downturn, witnessing a constant increase in oil & gas production. In 2017, primarily led by higher investment in the US shale region, the global upstream industry saw a significant gain of investment. The oil & gas operators, across the globe, are focusing on increasing the uptake of new projects as oil prices gain momentum, which is expected to spur the demand for electric motors in the country. Furthermore, in a bid to achieve its emission norms, the United States has increased the deployment of electric vehicles, which are also expected to supplement the demand for electric motors. Extensive R&D activities are carried out for energy efficiency enhancement in electric motors. For instance, the US Department of Energy (DOE) has supported and undertaken numerous R&D projects, targeting technological advancements in the field of electric motors technology.

                                               Upstream Investment Change

Key Developments in Electric Motor Market

  • February 2018: Baldor Electric Canada has been integrated into ABB, as part of latter’s Next Level strategy
  • February 2018: Moog Inc. has entered into a USD 65 million definitive agreement to acquire VUES Brno s.r.o., which designs and manufactures customized electric motors, generators, and solutions

Major Players in Electric Motor Market

  • ABB Ltd.
  • AMETEK, Inc.
  • Aquion Energy, Inc.
  • Emerson Electric Co.
  • Johnson Electric Holdings Limited
  • Siemens AG
  • Rockwell Automation
  • TECO-Westinghouse Motor Company
  • Toshiba Corp
  • General Electric Company
  • Denso Corp
  • Weg SA
  • Robert Bosch GmbH
  • Hitachi, Ltd.
  • Nidec Corporation

Reasons to Purchase This Report

  • Current and future electric motor sales market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market share, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

1. Executive Summary                                  

2. Research Methodology                                           

                2.1 Scope of the Electric Motor Market Report               

                2.2 Electric Motor Sales Market Definition                    

                2.3 Study Assumptions of Electric Motor Market                

                2.4 Study Deliverables of Electric Motor Market                

                2.5 Research Phases                      

3. Market Overview                                       

                3.1 Introduction                               

                3.2 Market Size and Demand Forecast until 2023                              

                3.3 Import-export Analysis                         

                3.4 Electric Motor Price Analysis               

                3.5 Recent Trends and Developments                   

                3.6 Government Policies & Regulations                 

                3.7 Investment Opportunities                   

4. Market Dynamics                                       

                4.1 Electric Motor Market Drivers                          

                4.2 Electric Motor Market Restraints                    

                4.3 Electric Motor Market Opportunities                            

5. Supply Chain Analysis of Electric Motor Market                                             

6. Industry Attractiveness – Porter’s Five Forces Analysis                                             

                6.1 Bargaining Power of Suppliers                            

                6.2 Bargaining Power of Consumers                       

                6.3 Threat of New Entrants                         

                6.4 Threat of Substitute Products and Services                  

                6.5 Intensity of Competitive Rivalry                        

7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)                                              

                7.1 Electric Motor Market By Motor Type                          

                                7.1.1 DC               

                                7.1.2 AC               

                7.2 Electric Motor Market By Voltage                  

                                7.2.1 <1 KV         

                                7.2.2 1 KV - 6 KV               

                                7.2.3 > 6 KV        

                7.3 Electric Motor Market By Application                           

                                7.3.1 Residential              

                                7.3.2 Commercial            

                                7.3.3 Industrial 

                                       Petrochemical & Chemical

                                       Oil & Gas

                                       Mining & Metals

                                       Cement & Steel


                                7.3.4 Automotive            

                7.4 Electric Motor Market By Power Output                     

                                7.4.1 <1 HP         

                                7.4.2 1-100 HP   

                                7.4.3 >100 HP    

8. Electric Motor Market Regional Analysis (Overview, Market Size, and Demand Forecast until 2023)                                  

                8.1 North America                          

                                8.1.1 United States         

                                8.1.2 Canada     

                                8.1.3 Rest of North America       

                8.2 Asia-Pacific                 

                                8.2.1 China         

                                8.2.2 India          

                                8.2.3 Japan         

                                8.2.4 Indonesia

                                8.2.5 Rest of Asia-Pacific              

                8.3 Europe                         

                                8.3.1 United Kingdom   

                                8.3.2 Germany 

                                8.3.3 France       

                                8.3.4 Russia        

                                8.3.5 Rest of Europe      

                8.4 South America                          

                                8.4.1 Brazil          

                                8.4.2 Argentina

                                8.4.3 Colombia 

                                8.4.4 Rest of South America       

                8.5 Middle East & Africa               

                                8.5.1 Saudi Arabia           

                                8.5.2 South Africa       

                                8.5.3 United Arab Emirates         

                                8.5.4 Nigeria      

                                8.5.5 Rest of Middle East & Africa            

9. Electric Motor Market Key Company Analysis* (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)                                               

                9.1 ABB Ltd.                       

                9.2 AMETEK, Inc.                             

                9.3 Aquion Energy, Inc.                 

                9.4 Emerson Electric Co.                               

                9.5 Johnson Electric Holdings Limited                     

                9.6 Siemens AG                   

                9.7 Rockwell Automation                             

                9.8 TECO-Westinghouse Motor Company                            

                9.9 Toshiba Corp                              

                9.10 General Electric Company                  

                9.11 Denso Corp                              

                9.12 Weg SA                      

                9.13 Robert Bosch GmbH                             

                9.14 Hitachi, Ltd.                              

                9.15 Nidec Corporation                 

                *List not Exhaustive                                       

10. Competitive Landscape of Electric Motor Market                                        

                10.1 Mergers and Acquisitions                  

                10.2 Joint Ventures, Collaborations, and Agreements                    

                10.3 Market Share Analysis                         

                10.4 Strategies Adopted by Leading Players                        

11. Future of the Electric Motor Market                           

12. Appendix                                    

                12.1 Contact Us                

                12.2 Disclaimer                 

                **Subject to availability on public domain                                           

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