Electric Motor Market Overview:

The Electric Motor market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry's top rivals. The research scope covers a complete analysis of the Electric Motor Market, as well as the causes for variances in the industry's growth in various places.

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Electric Motor Market size was valued at US$ 113.30 Bn in 2020 and the total revenue is expected to grow at 6.9 % through 2021 to 2027, reaching nearly US$ 180.75 Bn.

Market Scope:

To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.

Drivers:

Increased demand for electric motors, particularly in the industrial and agricultural sectors, rising consumer awareness of electric and green vehicles, and government funding for newly developed efficient electric motors are some of the major factors anticipated to propel the growth of the global electric motor market size over the course of the forecast period. The demand for the global electric motors market is being significantly boosted by an increase in earning potential leading to an increase in disposable income.

Segmentation:

The market for electric motors worldwide is divided into several types, including synchronous AC motors, induction motors, brushed DC motors, brushless DC motors, hermetic motors, and AC motors. In 2020, the AC Motor segment had the highest market share at 70.7%. Due to the growing use of AC motors in industrial applications, the segment is also anticipated to maintain its dominance throughout the forecast period. AC motors are widely used in advanced robotics and irrigation equipment, which accounts for their dominant position. Due to their smaller size, lower cost, and convenience, they are also widely used in HVAC equipment.

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Key Players: The key players are

• Johnson Electric Holdings Ltd.
• Baldor Electric Company, Inc.
• Ametek, Inc.
• Siemens AG
• Brook Crompton UK Ltd.
• Danaher Motion LLC
• Allied Motion Technologies Inc.
• Franklin Electric Co., Inc.
• ABB Group
• ARC Systems Inc.
• ASMO Co., Ltd.
• Dr. Fritz Faulhaber GmbH
• Emerson Electric
• Maxon Motor AG
• Regal Beloit Corporation

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Regional Analysis:

Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the Electric Motor market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.

COVID-19 Impact Analysis on Electric Motor Market: The report also includes a detailed analysis of COVID-19 on the Electric Motor market.

Key Questions Answered in the Electric Motor Market Report are:

  • Which sub-segment had the largest share in the Electric Motor market?
  • How is the competitive landscape of the Electric Motor market in 2020?
  • Which are the key drivers impacting the Electric Motor market growth?
  • Which region holds the maximum share in the Electric Motor market?
  • What will be the CAGR of the Electric Motor market during the forecast period (2021-2027)?

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