Electric Motors Market Size By Motor (Traction Motors, Small DC Motors For Automotive, Small DC Motors For Consumer Goods & Industrial Applications), By End Use (OEM, Aftermarket) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, Poland, Spain, China, Japan, India, South Korea, Australia, Vietnam, Brazil, Mexico, Columbia, Argentina, KSA, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024

Published Date: Oct 2017  |  Report ID: GMI2144  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 390   |   Base Year: 2016




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Electric Motors Market size valued at over USD 21 billion in 2016 and is estimated to exhibit around 6.9% CAGR from 2017 to 2024.
 

U.S. Electric Motors Market, By Motor, 2016 & 2024, (USD Million)

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Increasing digitalization along with rising automation across multiple industries are driving the electric motors market share over the study period. The electric motor demand is growing continuously owing to its benefits such as long life, low maintenance requirements, and automated control. The increasing demand for such motors along with replacing conventional fuel-based engine are positively boosting the market share.
 

The stringent government regulations and policies concerned with the environmental protection is providing a positive outlook for the market expansion. Several economies are taking multiple initiatives for reducing CO2 emission from vehicles by adopting electric vehicles, thereby enhancing the market growth over the forecast timeframe. The vehicles are powered by electric motors providing zero emissions, enables convenient recharging & refuelling, and produces lower noise compared to gasoline vehicles.
 

Increasing applications of electric motors in diversified applications including industrial, commercial, and residential sector is driving the market growth. The rapidly urbanizing households are creating potential growth opportunities for electric motors. The proliferating demand for electric home appliances such as air conditioner, refrigerator, water cooler, microwave oven, washing machine, vacuum cleaner, and electric fan among others is offering a positive outlook for the industry growth.
 

The product is a vital component in motor vehicles, heating ventilating and cooling (HVAC) equipment, and home appliances. The electric motors are relatively smaller, lighter, and affordable, and majorly used in HVAC equipment. The growth of the industrial and commercial HVAC units increases the demand for electric motors. The electric motors market demand is shifting towards the premium and high energy efficient electric motors with increasing awareness about its advantages and obligatory regulations to use energy efficient electric motors.
 

Technology advancements in electric motors including the capability to power the passenger vehicle along with in-wheels motors for offering higher torque to each wheel is boosting the market growth. Industry players are investing in advanced technologies and developing innovative products that would make vehicles, industrial, and households’ products more efficient and powerful.
 

Electric motor’s limitation for portability may hamper the market demand over the forecast period. The large electric motors are not easily movable and for smaller motors even it can be movable, but it requires the constant electric supply which may restrict the portability of the product after the certain distance. Moreover, efficiency and reliability concerns may further restrict the market share expansion over the study period.
 

Electric Motors Market Report Coverage
Report Coverage Details
Base Year: 2016
Historical Data for: 2013 to 2016 Forecast Period: 2017 to 2024
Pages: 390 Tables, Charts & Figures: 415
Geographies covered (22): U.S., Canada, Germany, UK, France, Russia, Italy, Poland, Spain, China, Japan, India, South Korea, Australia, Vietnam, Brazil, Mexico, Columbia, Argentina, KSA, UAE, South Africa
Segments covered: Motor, End Use and Region
Companies covered (21): 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

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By Motor

Japan Electric Motor Market, By Motors, 2016, (USD Million)

Japan Electric Motor Market, By Motors, 2016, (USD Million)

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Electric motors market from small DC motors for automotive applications will showcase significant growth owing to the increasing use in electric vehicles for positioning, retracting, and extending electrically powered side windows. Continuous development in products to increase its performance and lower the cost is propelling the segment growth over the forecast timeframe. The brushless DC motors employ an electronic commutator to increase its reliability and efficiency by removing the power source and wear loss compared to the brushed DC motors. Additionally, small DC motor segment is growing at a substantial rate owing to the benefits offered by the motor such as noiseless operation, higher speed range, and faster dynamic response.
 

Electric motors play a vital role in the industrial revolution by improving industrial operations. The electric motor enables every machine to generate power by its own electric motor instead of a power transmission by belts, air pressure & shafts, and provide a better point of control during operations. DC motors are used for multiple speed control applications such as motor vehicles and industrial machinery. The faster and efficient application powered by the electric motor increases the production & quality and improves the overall machine performance is further driving the market growth over the forecast timeframe.
 

By End-use

Increasing disposable income coupled with proliferating economic conditions is offering potential growth opportunities for OEMs. The industry players are increasing production of electronic home appliances and consumer products including air conditioner, refrigerator, washing machine, microwave oven, electric fan that will upsurge the demand for electric motors across the globe. Automobile manufacturers are focussing on improving the driver and passenger experience by integrating multiple automated features including power windows and sunroofs among others that are operated using electric motors.
 

Shifting consumer preferences towards customization of existing vehicles with advanced technologies and components are positively impacting the market growth. Rapid urbanization and rising vehicle penetration are escalating the electric motor aftermarket share. The increasing number of authorized and independent repair centers for automobile and consumer products maintenance and replacement will further support the market demand. Growing e-commerce platforms for small electric motors are positively influencing the aftermarket share over the projected timeframe.
 

 By Region

Europe Electric Motors Industry Size, By Country, 2024, (Million Units)

Europe Electric Motors Industry Size, By Country, 2024, (Million Units)

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Europe will showcase potential growth in the electric motors market on account of increasing development in the automotive sector. The region showcases a higher rate for the adoption of electric vehicles. Increasing requirements for small DC motors in an electric vehicle for various applications including power roofs, power tailgates, power windows, and automatic transmission are fuelling the product demand across the region. The light passenger vehicle is a major source of demand for the electric motors. The standardization of premium car features is driving the market growth across the region.
 

Asia Pacific holds a significant share in the electric motor market owing to the growing vehicle sales coupled with increasing consumers preferences towards advanced electronic goods. The economies such as China, India, and Japan are ahead in the production of vehicles and significantly contributes towards the market growth. China accounts for a major share in the sales of luxury cars and India also showcase a considerable rise in the passenger car sales across all price segments.
 

The shifting consumer preferences towards advanced featured electronic products are offering a positive outlook for the market growth across Asia Pacific. The growing applications of consumer electronics or electronic gadgets, residential heating, home appliances, ventilation and air conditioning have a major impact on the market share expansion. The refrigerators and washing machines are majorly consumed home appliances, where number of electric motors are used. Thus, increasing home appliances, residential HVAC systems, and personal gadgets are poised to drive faster growth for electric motor shipments across the region.
 

Competitive Market Share

Major players in the electric motors market are Nidec Corporation, ABB, Siemens, WEG, and Robert Bosch and Toshiba. Other prominent players include Allied Motion Technologies, Regal Beloit, Hyosung, General Electric, Shandong, and Bulher Motor Gmbh. Industry participants are adopting various strategies such as mergers, joint ventures and new product development to increase their market share. For instance, in January 2019, Robert Bosch GmbH acquired Daimler’s stake in the EM-Motive GmbH joint venture for producing electric and hybrid cars. This strategy enabled the company to increase its production capacity and gain higher market share.
 

Industry Background

The industry is majorly driven by the transition of product such as DC brushless motors from DC brushed motors. The transition is majorly observed in powertrain and industrial applications such as hydraulic power steering is replaced by electric power steering (EPS) in many new vehicles offering superior driving comfort. The government regulations and initiatives offer substantial opportunities for industry manufacturers to develop advanced products, thereby propelling the industry growth. The product prices may remain competitive due to the investment of industry players to develop their efficiency capabilities over the forecast timeframe.
 


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