U.S. Markets closed

Electric Motors Market Study, 2015-2019 & 2020-2030 - Global Market Set to Reach $143.2 Billion by 2023

DUBLIN, Jan. 16, 2020 /PRNewswire/ -- The "Electric Motors Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

Research and Markets Logo

The global electric motor manufacturing market was worth $106.9 billion in 2019. It is expected to grow at a CAGR of 7.57% and reach $143.2 billion by 2023.

This report covers global market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider motor manufacturing market, and compares it with other markets.

In 2019, North America was the largest region in the motor manufacturing market. The motor manufacturing market in Asia-Pacific is forecasted to register the highest CAGR during 2019-2023.

Increasing use of household appliances is expected to contribute to the growth of the motor manufacturing market in the forecast period. Increasing electrification, rising disposable income, and rapid urbanization along with several other factors are boosting the demand for household appliances, which in turn will drive the market for motors. For instance, the global household appliances manufacturing market is expected to grow from $283.8 billion in 2018 to $396.2 billion in 2022 at a CAGR of 8.7%. This will drive the market for electric motors in the forecast period.

Increased tariffs on raw materials such as steel and aluminum restrained the market for motor manufacturing in the historic period. Steel and aluminum are predominantly used in manufacture of components for motors. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in 2018, USA imposed a 25% and 10% tariffs on import of steel and aluminum respectively.

Motor manufacturing companies are increasingly manufacturing IoT enabled smart motors. These motors are equipped with sensors that monitor and track the motor's health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detecting any deviation from normal behavior. Smart motors offer several benefits such as increased lifespan of equipment, and improved safety.

In March 2019, Maxon Motor AG, a Switzerland-based company that manufactures and supplies high precision drives and systems such as gears, sensors, controls, compact drives acquired Parvalux Electric Motor for an undisclosed amount. The acquisition is expected to help Maxon Motor AG in becoming a complete solutions provider company by broadening its portfolio in medical technology and industrial automation. Parvalux Electric Motor is a UK based company that specializes in manufacturing geared motors such as DC brushless, DC brushed, gearbox, and generators.

Major players in the market are ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc. , Baldor Electric Company, Inc.

Key Topics Covered

1. Executive Summary

2. Electric Motors Market Characteristics

3. Electric Motors Market Size & Growth
3.1. Global Electric Motors Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Electric Motors Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Electric Motors Market Segmentation
4.1. Global Electric Motors Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

  • Alternate Current (AC) Motor
  • Direct Current (AC) Motor
  • Hermetic Motor

4.2. Global Electric Motors Market, Segmentation By Output Power, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

  • Integral Horsepower (IHP)
  • Fractional Horsepower (FHP)

4.3. Global Electric Motors Market, Segmentation By Voltage Range, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

  • 9v & Below
  • 10-20 v
  • 21-60 v
  • 60 v And Above

4.4. Global Electric Motors Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

  • Industrial Machinery
  • Motor Vehicle
  • HVAC Equipment
  • Aerospace & Transportation
  • Household Appliances
  • Other Commercial Applications

4.5. Global Electric Motors Market, Segmentation By Speed, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

  • Low-Speed (less than 1,000 rpm)
  • Medium-Speed (1,001 to 25,000 rpm)
  • High-Speed (25,001 to 75,000 rpm)
  • Ultra-High Speed (greater than 75,001 rpm)

5. Electric Motors Market Regional & Country Analysis
5.1. Global Electric Motors Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Electric Motors Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

  • ABB Ltd.
  • ARC Systems, Inc.
  • Asmo Co. Ltd.
  • Brook Crompton UK Ltd.
  • Emerson Electric Co.
  • Regal Beloit Corporation
  • Rockwell Automation Inc.
  • Siemens AG
  • Ametek, Inc.
  • Baldor Electric Company, Inc.
  • Allied Motion Technologies, Inc.
  • Franklin Electric Co. Inc.
  • Johnson Electric Holdings Limited
  • Robert Bosch GmbH
  • Denso Corporation
  • Toshiba International Corporation
  • General Electric Company
  • Nidec Corporation
  • WEG S.A.
  • Hitachi, Ltd.
  • Hyosung Corporation
  • Danaher Corporation
  • Teco Electric Machinery & Co.
  • Dr. Fritz Faulhaber GmbH Co. KG
  • Maxon Motor AG
  • Mitsubishi Electric
  • Panasonic
  • Shandong
  • Bulher Motor GmbH
  • BorgWarner Inc.
  • Continental AG

For more information about this report visit https://www.researchandmarkets.com/r/pxuim7

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.


Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com   

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Cision

View original content:http://www.prnewswire.com/news-releases/electric-motors-market-study-2015-2019--2020-2030---global-market-set-to-reach-143-2-billion-by-2023--300988241.html

SOURCE Research and Markets