Electric Motors Market Size in Transportation Sector By Motor (Traction Motors, Small DC Motors For Automotive [Air Suspension Motors, ABS Motors, Vacuum Pump Motors, Fork Lift Actuation Motors, Cooling Fans & Blowers Motors], Small DC Motors For Railways And Aerospace Applications [High Voltage Motor, Low Voltage Motor, Cooling Motor, HVAC Compressor Motors]), By End Use (OEM, Aftermarket) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

Published Date: Jun 2020  |  Report ID: GMI2144  |  Authors: Kiran Pulidindi, Sayan Mukherjee

Report Format: PDF   |   Pages: 250   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Electric Motors Market size in Transportation Sector was over USD 26.6 billion in 2019 and is anticipated to grow at 4.6% CAGR between 2020 and 2026. The rising penetration of electric vehicles will primarily drive the electric motors usage in the transportation industry over the coming years.
 

Electric Motors Market

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Electric motors used in the sectors such as automotive, railway and aerospace are projected to observe a strong growth over the coming years owing to constant investments in product development. The stringent standards in transportation sector across the world supporting improved air quality, clean energy and to limit the reliance on petroleum, resulting in reduction of green-house gas releases is propelling the market demand.
 

In addition, subsidies and incentives are offered to OEMs and other customers to boost the in electric vehicle sale which is likely to augment the electric motor demand in e-vehicle manufacturing. Increasing adoption of these vehicles due to its benefits such as low maintenance as compared to internal combustion vehicles, emission free mobility will positively bolster the electric motors market growth in transportation sector.
 

The implementation of thyristors converter reducing the overall cost of the product along with improving the DC motor performance for various applications will boost the overall market demand. Products with diminished maintenance requirements, offering a wide speed range and rated power output are preferred by the industry players. Increasing reliability of the product with the preferred application will fuel the market growth.
 

Industry participants may face challenges associated with operations and supply chain over the forecast timeframe. Mismanagement in product delivery may act as a challenge as there can be multiple products to deliver over a short time interval. This negative trend in the market can also be tracked to the Covid-19 pandemic which has given a substantial hit to the electric motor industry as well as the transport sectors.
 

Electric Motors Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 26.6 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.6% 2026 Value Projection: 22.7 Billion (USD)
Pages: 250 Tables, Charts & Figures: 415
Geographies covered (24): U.S., Canada, Germany, UK, France, Russia, Italy, Poland, Spain, China, Japan, India, South Korea, Australia, Vietnam, Brazil, Mexico, Columbia, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Motor, End-use
Companies covered (19): ABB, Adlee Powertronic Co., Ltd., Allied Motion, Inc., AMETEK, Inc., Baldor Electric Company, Robert Bosch GmbH, Bühler Motor GmbH, Denso Corporation, Dongjin Vietnam, EBM-papst, Emerson Electric Co., FAULHABER Group, Fuji Electric Co., Ltd., General Electric, Johnson Electric, Lucas TVS, Maxon Motor AG, Siemens AG, WEG, YASA Limited, Zytek Automotive/Continental Engineering Services
Growth Drivers:
  • Adaptation of electric motors in passenger cars and commercial vehicles
  • Increasing penetration of electric motors in consumer goods
  • Rising adoption of electric vehicles
  • Favorable regulatory landscape
  • Electric motors demand in green vehicles
  • Increasing sales of hybrid vehicles
  • High usage in varied applications
  • Growth of electronics industry
Pitfalls & Challenges:
  • Operation and supply chain issues
  • Probability of product failure

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Small DC motors for automotive applications dominate the electric motors market in transportation sector

Small DC motor segment registered a dominant market share of over 70% in 2019. Small DC motors for automotive are used in a wide range of applications both in electrically powered and conventional internal combustion engines powered designs.
 

In the automotive industry, the role of these motors is to distribute power in the vehicle. The vehicles now focus more on passenger safety, automatic controls, and comfort. These motors have become an indispensable component. Few cars consist of minimum 20 small motors as the control source for its mechanical movements such as straight-line movement, and horizontal swing. Applications of these small motors include variations in the location of backrest, headrest, & mobile electric seat cushion; swing of the rear-view mirrors, opening and closing of doors & windows, headlamps washing, water tank cooling fan rotation, among others.
 

Traction motor segment is expected to witness growth of over 6% till 2026 impelled by its usage in all types of electric vehicles. Traction motors are widely used in trains, two-wheelers and ATV’s for various applications offering superior efficiency and low energy consumption and enhanced reliability. Products with reduced maintenance are most preferred by the customers. Increasing trends toward electric vehicles and hybrid vehicles will propel the market revenue. Increasing affordability of the electric vehicles along with the superior performance of the vehicles will further boost the industry demand.
 

OEM applications will lead the end-user segment during the forecast period

Electric motors market in transportation sector size by end-use

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The OEM segment in the electric motors market in transportation sector will observe substantial gains of around 4% through 2026. OEM are focusing on offering products with tremendous customization according the customers need. In addition to this, OEM are offering products through their online portals achieving higher profit margins. Though the OEMs are engaged in distribution and long-term supply agreement. Utilization of production capacity and reducing the manufacturing cost of the product are the major strategies implemented by the manufacturers.
 

OEMs dominate the electric motor industry owing to higher demand for various applications including traction motor in electric vehicles, HVAC compressors, high-voltage cooling fan motor, etc. Manufacturers offering products with superior efficiency along with optimized torque will support the market growth. DC motors are widely used for various automotive applications such as passenger cars, commercial vehicles, heavy commercial vehicles, and two-wheelers. Widening application scope of DC motors in transportation industry will propel the product consumption.
 

Asia Pacific market is likely to attract the highest revenue by 2026

Electric motors market in transportation sector by region

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Asia Pacific dominated the global electric motors market in transportation sector accounting for over 50% share in 2019 owing to strong FDI policies and increasing automotive production in the region. Shifting consumer preference toward vehicles with superior comfort and increasing electrical parts will boost the product demand. Manufacturers are focusing on implementing products with operational excellence.
 

China is a major automobile hub manufacturing over 28 million vehicles in 2019. Increasing disposable income among the consumers boosting the overall sales will further fuel the market growth. Stabilizing economic condition, particularly in emerging countries will boost the product sales. Industry players are developing products with competitive pricing offering affordability boosting sales.
 

Major companies in the market are ABB, Siemens, Nidec Corporation, Toshiba, Robert Bosch and WEG. Other key players include Regal Beloit, Allied Motion Technologies, Hyosung, Shandong, General Electric, and Bulher Motor Gmbh.
 

The electric motors market research report in transportation sector includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in Million units and USD Million from 2019 to 2026, for the following segments:
 

Market, By Motor

  • Traction motors
  • Small DC motors for automotive
    • Air suspension motors
    • ABS motors
    • Vacuum pump motors
    • Forklift actuation motors
    • Cooling fans & blower’s motors
  • Small DC motors for railways and aerospace applications
    • High voltage motor
    • Low voltage motor
    • Cooling motor
    • HVAC compressor motors

Market, By End-use

  • OEM
  • Aftermarket

The above information is provided on a regional basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Poland
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Vietnam
  • Latin America
    • Brazil
    • Mexico
    • Columbia
    • Argentina
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
       

Frequently Asked Questions (FAQ) :

According to the analysts at GMI, small DC motor segment registered a dominant market share of over 70% in 2019.
The OEMs will observe substantial gains of around 4% through 2026, says this research report by Global Market Insights, Inc.
Major players in the market are ABB, Siemens, Nidec Corporation, Toshiba, Robert Bosch WEG, Regal Beloit, Allied Motion Technologies, Hyosung, Shandong, General Electric, and Bulher Motor Gmbh.
The dominance of Asia Pacific market is owing to strong FDI policies and increasing automotive production in the region. Moreover, shifting consumer preference toward vehicles with superior comfort and increasing electrical parts will boost the product demand.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 250
  • Tables: 384
  • Charts / Figures: 31
  • Companies covered: 19
  • Countries covered: 24

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