Global Electric Motor Market Forecasts to 2024: Expansion in Industrial Automation along with Advancements in Technology are the Main Drivers

Dublin, July 05, 2019 (GLOBE NEWSWIRE) -- The "Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to's offering.

According to the report, the global electric motor market reached a value of nearly US$ 125 Billion in 2018, growing at a CAGR of 5.5% during 2011-2018. Looking forward, the market value is projected to reach nearly US$ 162 Billion by 2024.

There are several factors currently driving the electric motor market growth globally:

  • Expansion in industrial automation along with advancements in technology is the major growth-inducing factor of the market.
  • Moreover, the trend of replacing gas turbines with electric motors in large industrial plants is propelling their demand.
  • Further, the growth of the market is gaining traction owing to the increasing demand for vehicles supported by improving standards of living and rising purchasing power of the consumers.
  • Additionally, government initiatives aimed to boost the sales of electric vehicles so as to reduce carbon emissions is expected to fuel the electric motor market growth.

Market Summary

Based on motor type, the market has been bifurcated into AC and DC motors, wherein AC motors holds the largest share. The AC motors segment is further divided into induction and synchronous AC motors, whereas the DC motors segment is segregated into brushed and brushless DC motors.

On the basis of voltage, low voltage electric motors account for the majority of the total share, followed by medium and high voltage electric motors.

The market has also been segmented on the basis of rated power into fractional horsepower and integral horsepower electric motors. Amongst these, fractional horsepower electric motors dominate the market.

Based on fractional horsepower, the market has been segregated into fractional horsepower (< 1/8) motors, fractional horsepower (1/8 - 1/2) motors and fractional horsepower (1/2 - 1) motors. Amongst these, fractional horsepower (1/8 - 1/2) motors dominates the market.

On the basis of integral horsepower, electric motors with integral horsepower between 1 - 5 hold the largest share. They are followed by motors with horsepower in the range 10 - 50, 50 - 100 and > 100.

Based on magnet type, ferrite magnets represent the leading segment. They are followed by NdFeB and SmCo magnets.

On the basis of weight, low weight motors hold the largest share, followed by medium and high weight motors.

The market has also been divided on the basis of speed into high speed, ultra-high speed, medium speed and low speed electric motors. Currently, high speed electric motors hold the biggest share.

Industrial machinery is the leading application sector, accounting for the majority of the total market share. It is followed by HVAC, transportation, household appliances, motor vehicles, aerospace, marine and robotics.

Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the leading market, accounting for the majority of the global share.

The competitive landscape of the market has also been examined with some of the key players being ABB Group, Siemens Ag, WEG SA, TECO, Regal Beloit Corporation and Nidec Corporation.

Key Topics Covered

1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Electric Motor Industry
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Motor Type
5.4 Market Breakup by Voltage
5.5 Market Breakup by Rated Power
5.6 Market Breakup by Magnet Type
5.7 Market Breakup by Region
5.8 Market Breakup by Weight
5.9 Market Breakup by Speed
5.10 Market Breakup by Application
5.11 Market Forecast

6 Market Performance by Type
6.1 AC Motor
6.1.1 Current and Historical Market Trends
6.1.2 Market Breakup by Type Induction AC Motor Market Trends Market Forecast Synchronous AC Motor Market Trends Market Forecast
6.1.3 Market Forecast
6.2 DC Motor
6.3 Others

7 Market Performance by Voltage
7.1 Low Voltage Electric Motors
7.2 Medium Voltage Electric Motors
7.3 High Voltage Electric Motors

8 Market Performance by Rated Power
8.1 Fractional Horsepower Motors
8.2 Integral Horsepower Motors

9 Market Performance by Fractional Horsepower
9.1 Fractional Horsepower (< 1/8) Motors
9.2 Fractional Horsepower (1/8 - 1/2) Motors
9.3 Fractional Horsepower (1/2 - 1) Motors

10 Market Performance by Integral Horsepower
10.1 Integral Horsepower (1 - 5) Motors
10.2 Integral Horsepower (10 - 50) Motors
10.3 Integral Horsepower (50 - 100) Motors
10.4 Integral Horsepower (>100) Motors

11 Market Performance by Magnet Type
11.1 Ferrite
11.2 Neodymium (NdFeB)
11.3 Samarium Cobalt (SmCo5 and Sm2Co17)

12 Market Performance by Region
12.1 Asia-Pacific
12.2 North America
12.3 Europe
12.4 Middle East and Africa
12.5 Latin America

13 Market Performance by Weight
13.1 Low Weight Motors
13.2 Medium Weight Motors
13.3 High Weight Motors

14 Market Performance by Speed
14.1 Ultra-High-Speed Motors
14.2 High-Speed Motors
14.3 Medium Speed Motors
14.4 Low Speed Motors

15 Market Performance by Applications
15.1 Industrial Machinery
15.2 HVAC
15.3 Transportation
15.4 Household Appliances
15.5 Motor Vehicles
15.6 Aerospace
15.7 Marine
15.8 Robotics
15.9 Others

16 Competitive Landscape
16.1 Market Structure
16.2 Market Breakup by Key Players

17 Key Players Profiles
17.1 ABB Group
17.1.1 Company Overview
17.1.2 Company Description
17.1.3 Product Portfolio
17.1.4 Financials
17.1.5 Key Contacts
17.2 Siemens AG
17.3 WEG S.A.
17.4 TECO
17.5 Regal Beloit Corporation
17.6 Nidec Corporation

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Related Topics: Motors