The electric motor market is expected to grow at a considerable rate in the years to come. Owing to rapid technological advancements in the last few years, the current electric market gains traction. Electric motors are incorporated in industrial fans; compressors; pumps; lathe machines; machine tools; domestic appliances; heating, ventilating, and air conditioning applications; disk drives; power tools; electric cars; and automated robots. Despite their high cost, these highly efficient motors are preferred over standard motors due to different benefits, such as longer operating life, low energy consumption, low maintenance, and high tolerance to voltage fluctuations. The need for improved productivity and low power consumption by the applications of motors is expected to increase the demand for high-efficiency motors.
Rise in awareness of green vehicles and increase in government initiatives to reduce carbon emissions contribute to the growth of the electric motor market. Thus, market players launch various electric cars to cater to the increase in customer demands. For example, Tesla launched Model S, Model 3, and others in North America, and is expected to introduce its next electric car in the European market. Siemens AG launched eco-friendly and energy-efficient electric motor such as products under SIMOTICS portfolio. Key companies profiled in the report are Ametek Incorporation, Siemens AG, Baldor Electric Incorporation, Allied Motion Technologies Inc., ARC Systems Incorporation, Asmo Corporation Limited, Brook Crompton UK Limited, Franklin Electric Cooperative Incorporation, Rockwell Automation Incorporation, and Johnson Electric Holdings Limited.
The global electric motor market is segmented based on motor type, output power, voltage range, application, speed, and geography. By type, the market is categorized as AC, DC, and hermetic motors. AC motors are further bifurcated into synchronous and induction motors, whereas DC motors into brushed and brushless DC motors. Based on application, the global electric motor market is classified into industrial machinery; motor vehicles (automobiles); heating, ventilating, and cooling (HVAC) equipment, household appliances; aerospace & transportation; and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key market segments
By output power
By voltage range
Key vendors profiled in the report
Other companies mentioned in the electric motor market report include Whirlpool Corporation, Toyota, Sony Corporation, Bayer AG, DuPont or E. I. du Pont de Nemours and Company, ATI Allegheny Ludlum, Nippon Steel, British Steel Corporation, ThyssenKrupp AG, SAC Armco, Kawasaki Steel Corporation, Redi Services, IHI Corporation, Bechtel Group, MAN AG, Valeo, Tesla Motors, The National Electrical Manufacturers Association (NEMA), Harley ‐ Davidson, Pitman Motors, Elco, GEA Refrigeration Technologies, Embraco, Trane, Century Electric Motors, Eastland Industries, Inc., BDI, Sissco Hoist & Crane, American Crane & Equipment Corp., Bruce Electric Equipment Corp, WEG Electric Corp., Thrush Co. Inc., Arc Systems, Inc., Wolters Motors & Drives, National Liftgate Parts, Inc., EDAC Corp., WESCO, Accurate Electric Motor & Pump Co., Reily Electrical Supply, Inc., Schunk Group, Hansen Motors, ATS Automation Tooling Systems, Inc., Aerotech Inc., Transicold LLC, Bison Gear & Engineering Corp., Leeson Electric, A Regal Beloit Co., Shenzhen Kinmore Motor Co. Ltd, Tianjin Benma Electric Motor Co. Ltd., Connaught Motor (Shenzhen) Co., Ltd., Shenzhen Xin Dong Hui Motor Technology Co., Ltd., LEESON Electric, Adafruit Industries, Mabuchi Motor Company, The Bosch Group, uxcell, A. O. Smith, Grizzly, Nextrox, AmpFlow, Kohree, Dayton, Packard, RioRand, Century Electric Motors, Smith & Jones, North American Electric, Inc, Itron Inc. (ITRI), Toshiba Mitsubishi-Electric India (TMEIC India), Al-Quraishi Electrical Services of Saudi Arabia (AQESA), TECO Electric and Machinery Co. Ltd., Microsoft Corporation, and Ameya Transmissions, Cemp S.r.l.
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