Electric Motor Sales Market (By Motor Type: AC Motor, DC Motor, Hermetic Motor; By Power: Integral HP, Fractional HP; By Application: Industrial Machinery, Motor Vehicles, HVAC Equipment, Aerospace & Transportation, Household Appliances) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global electric motor sales market size is expected to be worth around US$ 240.5 billion by 2030, according to a new report by Vision Research Reports.

The global electric motor sales market size was valued at US$ 142.10 billion in 2020 and is anticipated to grow at a CAGR of 6.8% during forecast period 2021 to 2030.

Report Coverage

Growth Factors

Rapid technological advancements have been playing an imperative role in the growth of the market. Further, improved insulation and operational efficiency have significantly improved the electro-mechanical machines in terms of safety and functionalities, leading to increased demand across multiple industries. Electric motors are used in multiple applications across industry verticals such as home appliances, industrial machinery, and vehicles. The market is expected to witness high growth from Heating, Ventilation, and Cooling (HVAC) applications as they are an inseparable component of HVAC equipment.

Rising fuel prices across the globe are impelling people to shift to non-conventional fuel alternatives. The upsurge in the production of electric vehicles is expected to positively impact the demand for electric motors as they are used in various applications ranging from performance components to comfort components of the vehicle.

The industry is characterized by regulatory policies and government initiatives that promote energy efficiency in machines and equipment. High-efficiency and output, low power consumption, increased operational life, and low maintenance costs are essential requirements for the electro-mechanical machines. Notably, technological innovations have introduced improved design, components, and motor specifications resulting in fulfillment of end-user requirements. Innovations and evolving policy frameworks are crucial for industry development and will play a key role in fueling the demand for the products over the forecast period.

Report Highlights

the AC motor segment dominated the electric motor market and accounted for the largest revenue share of 70.7% in 2020. This high share is attributable to AC motors' extensive applications ranging from irrigation pumps to modern-day robotics. Furthermore, they are smaller, cheaper, and lighter in weight and are also extensively used in HVAC equipment. The adoption of electric AC motors in the automotive industry has increased exponentially, owing to the advent of highly efficient and low-cost electronics, accompanied by improvements in permanent magnetic materials. Increasing demand for them in various industries, including chemicals, paper and pulp, cement, and wastewater treatment, is likely to further contribute to the growth of the segment. Growing sales of electric vehicles and the subsequent scope of the machine type are also expected to spur the segment's growth over the forecast period.

The burgeoning popularity of vehicle features such as motorized seats, adjustable mirrors, and sunroof systems are fueling the demand for brushless DC motors. DC types are used for variable speed control applications in industrial machinery and equipment and electronic toys. Brushless DC motors are widely used owing to their low cost of maintenance, thus, generating higher revenue in the DC segment. However, the hermetic type is estimated to witness the highest CAGR of 7.0% from 2021 to 2030, owing to ease of handling, less maintenance, and easy transportation. The segment's growth can also be attributed to increasing demand from HVAC system manufacturers backed by suitability in such applications.

the Fractional Horsepower (FHP) output segment dominated the market and accounted for the largest revenue share of 87.3% in 2020. This high share is attributable to its wide array of use-cases in all household appliances, ranging from vacuum cleaners to coffee machines and refrigerators. They are also used in industrial equipment as they prove to be suitable for operations in a heavy industrial environment. These motors have numerous advantages, including high starting torque and stability over electric current fluctuations.

the motor vehicles segment dominated the electric motor sales market and accounted for the largest revenue share of 40.5% in 2020. This high share is attributable to the increased adoption of electric motors in the automotive industry. An average commercial car has more than 40 electric motors ranging from low power to high. Further, the advent of low-cost and highly efficient electronics, coupled with improvements in permanent magnetic materials, drives the market in the automotive industry. Rising fuel prices and pollution are leading to a rapid increase in the demand for electric vehicles in developed and emerging economies such as Germany, the U.S., China, and Japan. Thus, the high demand for electric motors from the electric vehicle industry drives the market, significantly.

Electric motors are extensively used in heavy industrial equipment as well as agricultural types of machinery and vehicles. Countries, including Brazil, Vietnam, Sri Lanka, Argentina, and India, have a substantial population relying on agriculture. Therefore, the demand for low-cost and energy-efficient products has increased in these countries. The HVAC equipment, such as commercial and industrial air conditioners, rely heavily on electric motors. The segment is poised to experience the fastest growth at a CAGR of 8.0% from 2021 to 2028. Rising applications of electric motors in various residential and office buildings, hotels, and warehouses, are likely to encourage the growth of the segment.

Asia Pacific dominated the electric motor market and accounted for the largest revenue share of 48.6% in 2020. This is attributable to advancements in the agriculture sector and enormous investments in industrialization in countries, including China, India, South Korea, and Australia. Further, the increasing production and sales of electric vehicles in countries including China and Japan as well as the presence of established OEMs such as Honda Motor Co., Ltd., Hyundai Motor Company, Toyota Industries Corporation, and Nissan Motor Corporation are estimated to boost the growth prospects of the market in this region. The market is expected to witness the highest CAGR of 7.8% from 2021 to 2030.

Key Players

• Baldor Electric Company, Inc.

• Ametek Inc.

• Franklin Electric Co., Inc.

• Asmo Co., Ltd.

Market Segmentation

• By Motor Type Outlook 

  • AC Motor

    • Synchronous AC Motor

    • Induction AC Motor

  • DC Motor

    • Brushed DC Motor

    • Brushless DC Motor

  • Hermetic Motor

• By Power Output Outlook 

  • Integral HP Output

  • Fractional HP Output

• By Application Outlook 

  • Industrial Machinery

  • Motor Vehicles

  • HVAC Equipment

  • Aerospace & Transportation

  • Household Appliances

  • Others

• Regional Outlook 

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

  • Middle East & Africa

The Electric Motor Sales market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Electric Motor Sales market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Electric Motor Sales market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Electric Motor Sales market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Electric Motor Sales market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Electric Motor Sales capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Electric Motor Sales by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Electric Motor Sales market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Electric Motor Sales market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Electric Motor Sales market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Electric Motor Sales industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Electric Motor Sales market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Electric Motor Sales market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Electric Motor Sales market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Electric Motor Sales market. These factors have benefited the growth of the global market for Electric Motor Sales. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Electric Motor Sales. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Electric Motor Sales are as follows:

• Historic Year: 2017-2020
• Base Year: 2021
• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.