The electric motor market is expected to grow from an estimated USD 113.3 billion in 2020 to USD 169.1 billion by 2026, at a CAGR of 6.9% during the forecast period. Increased demand for HVAC systems in residential, commercial, and industrial end-users in the Middle East and Asia Pacific regions along with growing use of electric motors across major industries such as oil & gas, chemicals (compressors & pumps), power & energy, metals & mining (rolling mills, hoists, blowers, and processing lines), paper & pulp (grinders, chippers, and refiners), wastewater, marine, automotive, and power utilities (pumps & condensers. However, Due to the COVID-19 pandemic, local currencies of many countries have depreciated. There is misalignment of supply and demand, leading to financial losses for components/parts manufacturers. Key components used in manufacturing electric motors are typically procured in US dollars, which results in increased component cost which is likely to hamper the growth of the electric motor market.

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“The AC motors, by type, is expected to be the largest market from 2020 to 2026.”

The type segment is categorized as AC motors and DC motors. AC motors are widely used in air conditioners, washers, dryers, industrial machinery, fans, blowers, vacuum cleaners, and other applications. The advantages of AC motors include low cost, speed variation, high power factor, greater reliability, low maintenance, fewer losses, and no requirement to replace brushes. The advantages and benefits of AC motors over DC motors is likely to drive the growth of AC motors segment in the electric motor market.

“The 2.2-375 kW segment, by power rating, is expected to be the fastest- growing market from 2020 to 2026.”

The 2.2-375 kW segment is expected to grow at the fastest rate during the forecast period. These medium and high-voltage electric motors are basically used in industries and the transportation sector. They are also suitable for heavy industries, such as oil & gas and mining, where consistency, reliability, and easy maintenance of equipment are required for smooth operations. Medium-voltage motors find major application in the water & wastewater treatment and wind power industries. High-voltage motors are used in pumps, compressors, fans, refineries, mixers, conveyors, and mills, especially in the oil & gas, chemicals & petrochemicals, mining, and railway industries.

“Asia Pacific: The largest and the fastest-growing region in the electric motor market.”

Asia Pacific is expected to be the largest electric motor market during the forecast period. Asia Pacific comprises China, India, Japan, Australia, and Rest of Asia Pacific. With the rapid industrialization, the countries in Asia Pacific are moving toward internet-based industrial operations in each sector. According to the GSM Association, the developed countries in Asia Pacific, such as South Korea, Japan, and Australia, are increasingly exploring the potential of innovative services and connected devices. The automotive sector in the region is also booming. Asia Pacific is the largest producer of automobiles in the world. In 2018, the region manufactured more than 50 million commercial vehicles. These factors are expected to drive the growth of the electric motor market in Asia Pacific.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1- 7%, Tier 2- 38%, and Tier 3- 55%
By Designation: C-Level- 80%, Director Level- 15%, and Others- 5%
By Region: Asia Pacific- 40%, North America- 25%, Europe- 15%, Middle East & Africa – 12%, and South America- 8%
*Others includes sales managers, engineers, and regional managers.

Note: Tier 1 Company—Revenue > USD 5 billion, Tier 2 Company—Revenue between USD 50 million and USD 5 billion, and Tier 3 Company—Revenue < USD 50 million

The electric motor market is dominated by a few major players that have an extensive regional presence. The leading players in the electric motor market are

ABB (Switzerland), Siemens (Germany), Nidec Corporation (Japan), Wolong (China), and WEG (Brazil).

Study Coverage:

The report defines, describes, and forecasts the electric motor market, by type, power rating, output power, rotor type, end user and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the electric motor market.

Key Benefits of Buying the Report

The report identifies and addresses the key markets for electric motors sales, which would help equipment manufacturers and service providers review the growth in demand.
The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Definition
1.2.1 Electric Motor Market, By Type: Inclusions & Exclusions
1.2.2 Electric Motor Market By End User: Inclusions & Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered For The Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders
1.8 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Electric Motor Market: Research Design
2.2 Market Breakdown And Data Triangulation
Figure 2 Data Triangulation Methodology
2.2.1 Secondary Data
2.2.1.1 Key Data From Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data From Primary Sources
2.2.2.2 Breakdown Of Primaries
2.3 Scope
Figure 3 Main Metrics Considered While Constructing And Assessing Demand For The Electric Motor Market
2.4 Market Size Estimation
2.4.1 Demand-Side Analysis
Figure 4 Electric Motor Market: Region-Wise Analysis
2.4.1.1 Calculation
2.4.1.2 Assumptions
2.4.2 Supply-Side Analysis
Figure 5 Electric Motor Market: Supply-Side Analysis
2.4.2.1 Calculations
Figure 6 Key Metrics Considered For Assessing Supply Of Electric Motors
2.4.2.2 Assumptions
Figure 7 Company Revenue Analysis, 2019
2.4.3 Forecast

3 Executive Summary
3.1 Scenario Analysis
Figure 8 Scenario Analysis: Electric Motor Market, 2020-2026
3.1.1 Optimistic Scenario
3.1.2 Realistic Scenario
3.1.3 Pessimistic Scenario
Table 1 Electric Motor Market Snapshot
Figure 9 Asia Pacific Dominated Electric Motor Market In 2019
Figure 10 Ac Motors Segment Expected To Continue To Hold Larger Share Of Electric Motor Market, By Type, During Forecast Period
Figure 11 Inner Rotor Segment Expected To Continue To Hold Larger Share Of Electric Motor Market, By Rotor Type, During Forecast Period
Figure 12 > 1 Hp Motors Segment Expected To Continue To Hold Largest Share Of Electric Motor Market, By Output Power, During Forecast Period
Figure 13 Figure 14 Industrial Segment Expected To Continue To Dominate Electric Motor Market, By End User, During Forecast Period

4 Premium Insights
4.1 Attractive Opportunities In Electric Motor Market
Figure 15 Growing Emphasis On Renewable Energy And Electric Vehicle Integration Is Expected To Drive Electric Motor Market During 2020-2026
4.2 Electric Motor Market, By Region
Figure 16 Electric Motor Market In Asia Pacific Expected To Record Highest Cagr During Forecast Period
4.3 Electric Motor Market In Asia Pacific, By Power Rating & Country
Figure 17 4.4 Electric Motor Market, By Rotor Type
Figure 18 Inner Rotor Segment Projected To Continue To Dominate Electric Motor Market, By Rotor Type, In 2026
4.5 Electric Motor Market, By Type
Figure 19 Ac Segment Expected To Hold Larger Share Of Electric Motor Market, By Type, In 2026
4.6 Electric Motor Market, By End User
Figure 20 Industrial Segment Likely To Continue To Hold Largest Share Of Electric Motor Market, By End User, In 2026

5 Market Overview
5.1 Introduction
5.2 Covid-19 Health Assessment
Figure 21 Covid-19 Global Propagation
Figure 22 Covid-19 Propagation In Selected Countries
5.3 Road To Recovery
Figure 23 Recovery Road For 2020 & 2021
5.4 Covid-19 Economic Assessment
Figure 24 Revised Gdp Forecasts For Select G20 Countries In 2020
5.5 Market Dynamics
Figure 25 Electric Motor Market: Drivers, Restraints, Opportunities,And Challenges
5.5.1 Drivers
5.5.1.1 Increased Demand For Hvac Systems Among Residential, Commercial, And Industrial End Users
5.5.1.2 Growing Use Of Electric Motors Across Major Industries
5.5.1.3 Rising Demand For Energy-Efficient And Low-Cost Maintenance Motors
5.5.2 Restraints
5.5.2.1 Fluctuating Prices Of Raw Material From China
5.5.3 Opportunities
5.5.3.1 Transition Of Global Automotive Industry Toward Electric Vehicles
Figure 26 Worldwide Automobile Production, Million Unit, 2015-2019
5.5.3.2 Emerging Robotics Technology Will Increase Demand For Electric Motors
5.5.4 Challenges
5.5.4.1 Easy Availability Of Low-Quality And Inexpensive Electric Motors
5.5.4.2 Shortage Of Components And Parts Due To Covid-19 Leading To Higher Product Cost
Table 2 Region/Country-Wise Percentage Deviation From Benchmarks Due To Covid-19
5.6 Yc Shift
5.6.1 Revenue Shift & New Revenue Pockets For Electric Vehicle Manufacturers
Figure 27 Revenue Shift For Electric Motors
5.7 Average Selling Price Trend
Figure 28 Average Selling Price Of Electric Motors
5.8 Ecosystem Market Map
Figure 29 Ecosystem Market Map
5.9 Value Chain Analysis
Figure 30 Electric Motor Value Chain
5.9.1 Raw Material Providers
5.9.2 Original Equipment Manufacturers
5.9.3 Assemblers/Manufacturers
5.9.4 Distributors
5.9.5 End Users
5.1 Technology Analysis
5.10.1 Technology Trends For Various Motor Technologies
Table 3 Comparision Of Different Commercially Available Motor Technologies
5.11 Case Study Analysis
5.11.1 Electric Motors For Aircraft
5.11.1.1 Parker Used Ametek’s Hydraulic Pump Motor For The Us Airforce’s Next Generation T-X Jet Trainer Aircraft
5.11.2 Cost Effective Meps (Minimum Energy Performance Standard) Levels For Motors
5.11.2.1 The Energy Research Centre Of The Netherlands Developed A Market Transformation Program For Indonesia

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