Market Size

The global electric motors market size was valued at USD 118.6 billion in 2020 and is estimated to reach a value of USD xx billion in 2027. The electric motors market analysis shows that it will grow with a CAGR of 7.3% over the forecast period of 2021 to 2027.

Market Driver

Increasing consumer awareness towards electric vehicles is one of the key factors driving the market growth of electric vehicles at the global level. In the last few years,  electric motor has undergone technological advancements meet the growing demands of consumers. The use of high-quality insulation material in the electric motor is assisting with product sales as it increases the product lifecycle and operational efficiency.

COVID-19 Impact

U.S., China, and India are the key supplier of electric motor. Although country-wise lockdown in these countries has devastated the value chain in 2020. But, the overall market has seen a significant increase in the third quarter of 2020.

Regional Outlook

On the basis of region, Asia Pacific accounted for the largest electric motor market and it will continue its dominance during the forecast period. Key companies are situated in India, China, South Korea, Japan, and South Korea. Growing industrialization in developing countries is driving different end-use segments across Asia Pacific. As per GSM Association, Asia Pacific developed countries including Japan, South Korea, and Australia are working on electric motor technologies in different connected devices. This region is the largest manufacturer of vehicles which also propel the sales of electric motor. In 2018, Asia Pacific region has produced over 50 million commercial vehicles. In North America, U.S. accounted for the largest producer and consumer of electric motor.

Competitive Outlook

Companies are working on multiple strategies to strengthen their market share. Some of the key strategies include mergers, acquisitions, and new product launch. Wolong Electric acquired the small electric motor business of GE in May 2020 for USD 160 million. Further, Japan-based company Nidec Corporation has also launched the latest traction motor systems in February 2020. Models under this launch are 50 kW Ni50Ex and 200 kW Ni200Ex.

Research Methodology

Electric Motors market report consists of market analysis including both primary and secondary research. Primary research comprises of the interaction between manufacturers, industry experts channel partners, and end users, while the secondary research presents an analytical interpretation of relevant published databases, which contains details like company annual reports, and financial reports, white papers, and purchased databases. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.

About Us

Market Insight Solutions is a leading market research firm which caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organization led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aim at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains. Segments covered in the report

Electric Motors Market Size and Outlook by Type

• AC
• DC

Electric Motors Market Size and Outlook by Power Rating

• <1 KW
• 1-2.2 KW
• 2-375 KW
• >375 KW

Electric Motors Market Size and Outlook by Rotor Type

• Inner Rotor
• Outer Rotor

Electric Motors Market Size and Outlook by End Use

• Industrial
• Residential
• Commercial
• Agriculture
• Transportation

Electric Motors Market Size and Outlook by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Companies Profiled in this Report

• ABB
• Siemens
• Nidec Corporation
• Wolong
• WEG
• Johnson Electric
• Regal Beloit Corporation
• Toshiba Corporation
• TECO Electric & Machinery
• Hyosung Heavy Industries

Actionable Outcomes

Our Electric Motors Market Report offers a thorough assessment of estimations and projections on the market dynamics. Further, it helps in the implementation of these results as they show tangible benefits to business stakeholders and industry entities decisions as leaders.

Strategic Planning

Every business needs to understand how their product will grow in the forthcoming years. With the current uncertainness due to the COVID-19 scenario, this analysis becomes significant to understand past disruptions and boost the preparedness for the next steps of decision. We at Market Insight Solutions are trying to break down the complex market for the business leaders through strategic insights and resilience in unpredictable situations.

Highlights of the report:

• COVID-19 impact on Electric Motors market size
• Analyzing the regional market for the growth factors, estimated analysis and its penetration to the global market
• Electric Motors market size in United States
• Understanding the dynamics of the parent market
• Prime fluctuations of the market dynamics
• Evaluation of the market opportunities
• Market segmentation and comprehensive analysis in the second or third level
• Reporting and evaluation of recent industry developments
• Analysis of market share and developments
• Detailed company profiling of leading companies
• Opportunities to newer markets in global and regional markets
• Analyzing the trajectory line of the business
• Analyze Electric Motors market share
• Measures to consider for Electric Motors market