Nov 12, 2020   SOURCE: BusinessWire

Electric Motor Market Report - Global Industry Analysis and Growth Forecast to 2030: Opportunities in the Development of Super Efficienct IE4 Electric Motors - ResearchAndMarkets.com

The "Electric Motor Market Research Report: By Motor Type, Output Power, Application - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global electric motor market is projected to attain a revenue of $195.2 billion in 2030, increasing from $118.2 billion in 2019, progressing at a 4.8% CAGR during the forecast period (2020-2030)

The adoption of electric vehicles has been increasing rapidly across the globe. As the awareness regarding negative impact of conventional ICE-based vehicles is increasing, people are widely opting for electric vehicles. Unlike ICE vehicles, electric vehicles run on electricity and therefore doesn't cause as much harm to the environment. Due to surging levels of pollution all over the globe, the need for curbing greenhouse gas emissions is increasing by every passing day.

Electric vehicles can be of great help in this regard, which is why their adoption is increasing. A major component of an electric vehicle is an electric motor, therefore, their demand is also increasing with the rising adoption of electric vehicles.

Electric motors are of 3 types, namely AC, DC, and hermetic motor. Among these, the demand for AC motors has been the highest in the past, and the situation is likely to remain the same in the years to come as well. AC motors have higher speed and torque as compared to other variants and they are able to function at higher voltages. In addition this, AC motors are easier to maintain than DC and hermetic motors.

AC motors are further of two types, namely synchronous and induction, between which, a larger demand was created for induction AC motors in the past. Three-phase induction motors are highly popular in a number of industrial applications. Single-phase induction motors are utilized commonly in household applications, including grinders, pumps, mixers, fans, and washing machines. It is owing to such wide range of applications of induction motors that their demand is rising at a rapid pace.

Other than motor vehicles, electric motors also fine applications in industrial machinery, HVAC equipment, household, and transportation. Motor vehicles have been creating the largest demand for electric motors in the past. The increasing concerns regarding the environment and volatility of oil prices are the major reason for this. Owing to these factors, and the surging adoption of electric vehicles, the demand for electric motors is further predicted to be the highest for the electric motor application in the years to come.

The Asia-Pacific region emerged as the largest electric motor market in the past, owing to the swift industrialization and rising adoption of HVAC equipment and electric vehicles in China and India. For example, the Government of India rolled out a subsidy scheme for introducing electric public transport services in 11 major cities of the country in the beginning of 2018. The incentive covers about 60% of the purchase cost of electric buses. Incentives like these are predicted to drive the demand for electric vehicles in the region, in turn, driving the demand for electric motors.

Hence, the major factors driving the market are the growing demand for electric vehicles and wide application areas of electric motors.

Key Topics Covered:

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Motor Type

4.1.1.1 AC motor

4.1.1.1.1 Synchronous

4.1.1.1.2 Induction

4.1.1.2 DC motor

4.1.1.2.1 Brushless

4.1.1.2.2 Brushed

4.1.1.3 Hermetic motor

4.1.2 By Output Power

4.1.2.1 Fractional horsepower

4.1.2.2 Integral horsepower

4.1.3 By Application

4.1.3.1 Motor vehicle

4.1.3.2 Industrial machinery

4.1.3.3 HVAC equipment

4.1.3.4 Transportation

4.1.3.5 Household

4.1.3.6 Others

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.1 Trends

4.3.1.1 Development of high power-to-weight ratio electric motors

4.3.1.2 Customized electric motors

4.3.2 Drivers

4.3.2.1 Increasing compliance for energy-efficient electric motors

4.3.2.2 Rising adoption of motor-driven electric vehicles

4.3.2.3 Increasing usage of electric motors for several applications

4.3.2.4 Impact analysis of drivers on market forecast

4.3.3 Restraints

4.3.3.1 Portability issues with heavy electric motors

4.3.3.2 High primary cost of electric motors

4.3.3.3 Impact analysis of restraints on market forecast

4.3.4 Opportunities

4.3.4.1 Development of super-premium-efficiency IE4 electric motors

4.4 Impact of COVID-19 on Electric Motor Market

4.4.1 Contribution of Countries toward Global Manufacturing Output

4.4.2 Contribution of Countries toward Global Export and Import (2019)

4.4.3 COVID-19-Infected Countries

4.4.4 Global Scenario

4.4.4.1 GDP Growth Rate (2019)

4.4.4.2 GDP Growth Rate (2020)

4.4.4.3 GDP Growth Rate Projection for 2021

4.4.4.4 Assessment of COVID-19 Impact on GDP and Economic Forecast

4.4.4.5 Assessment of COVID-19 Impact on Workforce Across Various Sectors

4.4.5 Impact of COVID-19 Outbreak on Supply and Demand Side

4.4.6 Current scenario

4.4.7 Future scenario

4.5 Porter's Five Forces Analysis

Chapter 5. Global Market Size and Forecast

5.1 By Motor Type

5.1.1 AC Motor, by Type

5.1.2 DC Motor, by Type

5.2 By Output Power

5.3 By Application

5.4 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. LATAM Market Size and Forecast

Chapter 10. MEA Market Size and Forecast

Chapter 11. Major Markets for Electric Motor

11.1 U.S. Electric Motor Market

11.2 Germany Electric Motor Market

11.3 China Electric Motor Market

Chapter 12. Competitive Landscape

12.1 List of Players and Their Offerings

12.2 Market Share Analysis of Key Players

12.3 Comparison of Key Players

12.4 Strategic Developments of Market Players

Chapter 13. Company Profiles

  • ABB Ltd.
  • Mitsubishi Electric Corporation
  • Rockwell Automation Inc.
  • Regal Beloit Corporation
  • Siemens AG
  • Nidec Corporation
  • Robert Bosch GmbH
  • AMETEK Inc.
  • Wolong Holding Group Co. Ltd.
  • Johnson Electric Holdings Limited

For more information about this report visit https://www.researchandmarkets.com/r/f006mf