Mar 16, 2022   SOURCE: BusinessWire

Global Electric DC Motors Market Forecast to 2028 - by Type, Speed, Application and Geography - ResearchAndMarkets.com

The "Electric DC Motors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Speed, and Application" report has been added to ResearchAndMarkets.com's offering.

The global electric DC motor market is expected to grow from US$ 12,968.5 million in 2021 to US$ 23,639.4 million by 2028; it is estimated to grow at a CAGR of 9.0% during 2021-2028.

By country, the APAC electric DC motors market is subsegmented into Australia, China, India, Japan, and South Korea. The robust automotive industry across the region has been increasing the demand for electric DC motors over the years. Countries such as China and India have boosted their automotive production due to the rise in demand for commercial and passenger vehicles across the region. In 2020, 3,394,446 and 25,225,242 vehicles were produced in India and China, respectively. This rise in automotive manufacturing across APAC contributes to the rising demand for electric DC motors across the region.

The production of industrial equipment and home appliances has drastically increased over the years in China. In APAC, rising disposable incomes and fast urbanization, along with creative and appealing advertising by manufacturing corporations, have produced a potentially disruptive market environment. The increase in the number of urban residents and middle-class families has resulted in an increase in demand for home and kitchen equipment throughout the region. Yaskawa Electric Corporation; Johnson Electric Holdings Limited; Nidec Corporation; and MinebeaMitsumi, Inc. are among the few electric DC motor manufacturers operating in APAC. These companies have increased their investments in product development and geographic expansion to increase their customer base across the globe. In February 2021, Johnson Electric Holdings Limited launched LVDC motors for smart furniture.

The electric DC motor market is segmented on the basis of type, speed, application, and geography. Based on type, the market is bifurcated into brushed DC motors and brushless DC motors. The brushless DC motors segment represented a larger share of the overall market in 2020. Based on speed, the market is segmented into low (less than 1,000 rpm), medium (1,001 - 25,000 rpm), and high (above 25,000). In 2020, the medium segment held the largest share of the market.

By application, the electric DC motor market is segmented into industrial machinery, automotive and transportation, HVAC equipment, aerospace & defense, household appliances, and others. The household appliances segment represented the largest share of the overall market in 2020. Based on geography, the electric DC motor market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. In 2020, APAC accounted for the largest share in the global market.

The MEA electric DC motors market is negatively affected from the supply side, owing to disruptions in the supply chain of raw materials. The rise in COVID-19 cases caused the discontinuation of many economic operations. Due to the international travel ban, the tourism sector was drastically affected. As a result, the demand for new air conditioners, television sets, and refrigerators decreased notably. This impacted the requirement for electric DC motor from HVAC system and consumer electronics manufacturers. The end users in the MEA region are dependent on international suppliers and experienced significant supply chain disruption during Q1 and Q2 of 2020. However, with beginning of Q3 of 2020, the demand for various semiconductor products, including electric DC motors, increased after its operations resumed.

A few major players operating in the global electric DC motor market are ABB Ltd; AMETEK Inc.; Yaskawa Electric Corporation; Johnson Electric Holdings Limited; Nidec Corporation; Siemens AG; Allied Motion Technologies Inc.; MinebeaMitsumi, Inc.; Maxon Motors AG; and Regal Rexnord Corporation.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global electric DC motor market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global electric DC motor market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Increasing Demand for HVAC Systems
  • Rising Adoption of Brushless DC Motor

Restraints

  • Low-Quality and Inexpensive Electric DC Motors

Opportunities

  • Adoption of Brushless DC Motors in Manufacturing of Electric Vehicle

Future Trends

  • Growing Penetration of Industrial Automation

Companies Mentioned

  • ABB
  • Allied Motion Inc.
  • Ametek Inc
  • Yaskawa Electric Corp
  • Minebeamitsumi Inc.
  • Johnson Electric Holdings Limited
  • Maxon Motor AG
  • NIDEC Corporation
  • Regal Rexnord Corporation
  • Siemens AG

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