Electric motor market estimated to rise to USD 24,625 million by 2028

An electric motor is any of a class of devices that convert electrical energy to mechanical energy usually by employing electromagnetic phenomena. Electric motors can be powered by direct current (DC) sources, such as batteries or rectifiers. Or by alternating current (AC) sources, such as inverters, electric generators, or a power grid. Electric motors are incorporated in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, and automated robots.  The global electric motor market is anticipated to reach valuation of ~USD 24,625 million by 2028, representing a CAGR of 3.1% from 2022 to 2028 as per the latest report by Gen Consulting Company.

The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global electric motor market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the electric motor industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the technology, power output, application, and region. The global market for electric motor can be segmented by technology: DC motor, ED motor, AC motor. The AC motor segment held the largest revenue share in 2021. Electric motor market is further segmented by power output: low voltage integral HP output, high voltage integral HP output, fractional HP output. Based on application, the electric motor market is segmented into: chemicals, food & beverage, metal & mining, oil & gas, power generation, water treatment, industrial, others. On the basis of region, the electric motor market also can be divided into: North America, Asia Pacific, Europe, Rest of the World (ROW).

By technology:

- DC motor

- ED motor

- AC motor

By power output:

- low voltage integral HP output

- high voltage integral HP output

- fractional HP output

By application:

- chemicals

- food & beverage

- metal & mining

- oil & gas

- power generation

- water treatment

- industrial

- others

By region:

- North America

- Asia Pacific

- Europe

- Rest of the World (ROW)

The report has also analysed the competitive landscape of the global electric motor market with some of the key players being ABB Ltd., Altra Industrial Motion Corp., AMETEK, Inc., maxon Group, Nidec Corporation, Regal Beloit Corporation, Rockwell Automation, Inc., Siemens AG, TECO-Westinghouse Motor Company, The ebm-papst Group, The Yaskawa Electric Corporation, Toshiba Corporation, WEG S.A., Wolong Electric Group Co., Ltd., among others.

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Historical & Forecast Period

This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

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Scope of the Report

- To analyze and forecast the market size of the global electric motor market.

- To classify and forecast the global electric motor market based on technology, power output, application, region.

- To identify drivers and challenges for the global electric motor market.

- To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global electric motor market.

- To identify and analyze the profile of leading players operating in the global electric motor market.

Why Choose This Report

- Gain a reliable outlook of the global electric motor market forecasts from 2022 to 2028 across scenarios.

- Identify growth segments for investment.

- Stay ahead of competitors through company profiles and market data.

- The market estimate for ease of analysis across scenarios in Excel format.

- Strategy consulting and research support for three months.

- Print authentication provided for the single-user license.