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Increasing Consumer Adoption to Fuel Demand for Electric Motor Market

Global Electric Motor Market was valued US$ 96.21 Bn in 2017 and is expected to reach US$ 140.32 Bn by 2026, at a CAGR of 4.83% during a forecast period. The global electric motor market based on type, output power, voltage range, application, speed, and region. Based on type, the electric motor market is classified into AC motor, synchronous AC motor, induction AC motor, DC motor, brushed DC motor, brushless DC motor, and hermetic motor. On the basis of output power, the electric motor market is categorized into IHP and FHP. In terms of voltage range, the global electric motor market is segregated into 9V & below, 10V-20V, 21V-60V, and 60V. By application, the global electric motor market is classified into industrial machinery, motor vehicle, HVAC equipment, aerospace & transportation, household appliances. Based on speed, the electric motor market is divided into low speed, medium speed high speed, and ultra-high speed. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The rise in need for energy-efficient motors; increase in demand for electric motors especially in agriculture and industrial sectors; rise in awareness about electric and green vehicles among customers; and government funding for developing efficient electric motors are some of the key factors estimated to drive the growth in global electric motor market size during the forecast period. Increase in earning level leading to rising disposable income is majorly boosting the demand for global electric motors market. The major hindering factor of the global electric motor market is many larger electric motors are NOT easily portable, and even if a motor is small enough to be portable, consideration must be made for the correct electrical supply and voltage at the new site. Also expensive line extensions are sometimes needed for installation in remote locales where existing electrical power is NOT available. Global Electric Motor Market In terms of type, the AC motor segment dominated the market in 2017 with around 70% market revenue share. Moreover, the segment is estimated to continue its dominance throughout the forecast period, owing to the rise in adoption of AC motors in industrial applications. Based on output power, the fractional horsepower (FHP) output segment, dominated the market in 2017 and is estimated to continue its dominance by 2026 with around 90% value share. By application, the motor vehicle segment is estimated to expand at the highest CAGR owing to the rise in adoption of electric vehicles across the globe. In terms of region, North America was the highest revenue contributor in 2017, accounting for around 35% share of the overall electric motor market size. The Asia-Pacific electric motor market is estimated to grow at the highest CAGR of 5.1% during the forecast period owing to increased penetration of electric motors in industrial machineries, household appliances, and HVAC equipment. Some of the key players in the global electric motor market are Johnson Electric Holdings Ltd., Baldor Electric Company, Inc., Ametek, Inc., Siemens AG, Brook Crompton UK Ltd., Danaher Motion LLC, Allied Motion Technologies Inc., and Franklin Electric Co., Inc.

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Scope of the Global Electric Motor Market
Global Electric Motor Market by Type
• AC Motor • Synchronous AC Motor • Induction AC Motor • DC Motor • Brushed DC Motor • Brushless DC Motor • Hermetic Motor

Global Electric Motor Market by Output Power
• IHP • FHP

Global Electric Motor Market by Voltage Range
• 9V & below • 10V-20V • 21V-60V • 60V

Global Electric Motor Market by Application
• Industrial Machinery • Motor Vehicle • HVAC Equipment • Aerospace & Transportation • Household Appliances

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Global Electric Motor Market by Speed
• Low Speed • Medium Speed High Speed • Ultra-High Speed

Global Electric Motor Market by Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America

Key Players operating in the Global Electric Motor Market
• Johnson Electric Holdings Ltd. • Baldor Electric Company, Inc. • Ametek, Inc. • Siemens AG • Brook Crompton UK Ltd. • Danaher Motion LLC • Allied Motion Technologies Inc. • Franklin Electric Co., Inc. • ABB Group • ARC Systems Inc. • ASMO Co., Ltd. • Dr. Fritz Faulhaber GmbH • Emerson Electric • Maxon Motor AG • Regal Beloit Corporation • Rockwell Automation Inc. • Siemens AG India Solar Powered Petrol Pump Market

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