Electric Motor Market 2020 by Technology, Trends, Share, Revenue, Top Companies, Segmentation to 2025

Facto Market Insights (FMI) is one of the leading market research analyst incorporated its latest research subject title “ELECTRIC MOTOR MARKET – 2020 – 2025 to its diverse bouquet of market research reports. With in depth study it provides bulls eye analysis of market drivers, its challenges, opportunity trends along with various key analytical insights. In addition FMI anticipates the report on global electric motor market to help its patrons to understand and gaze the important aspects that are expected to intensify the growth patterns of the global market in near future. The study and research doesn’t confine itself to just the patterns but takes a leap ahead and do a complete analysis of the market size and forecast for the different segments & geographies covering the impact analysis of ongoing covid 19 pandemic.

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According to a new report published by Facto Market Insight Research, titled, “Electric Motor Market by Motor Type, Output Power, Voltage Range, Application, and Speed: Global Opportunity Analysis and Industry Forecast, 2018–2025,” the global electric motor market size was valued at $96,967.9 million in 2017, and is projected to reach $136,496.1 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. In 2017, North America dominated the global market, in terms of revenue, accounting for about 34.3% share of the global market, followed by Asia-Pacific.

The electric motor market has specific and limited application areas and its growth directly depends on the growth of the existing application industries. However, the technology used in the production of electric motors is witnessing a shift from the conventional methods (in which power consumption, efficiency, and noise was of least consideration) to advanced techniques that can be used to manufacture efficient and low-noise motors at an affordable price, thus driving the electric motor market growth.

 Impact Analysis of Coronavirus Disease (COVID-19)      

The research report covers the impact analysis of COVID-19 pandemic on the global electric motor market, covering information about each region & countries in order to identify the issues raised by the pandemic over various industries. The outbreak of coronavirus or COVID-19 (formerly 2020-nCoV) was noted in December 2019, which has been imposed as a medical emergency across the globe. More than 213 countries and territories have reported cases of coronavirus till date. On 11th March 2020, the World Health Organization (WHO) declared the COVID-19 a pandemic officially. Countries including U.S., India, Italy, Germany, Spain, France, Brazil, and such other countries have a large number of COVID-19 patients, due to which the countries went under lockdown conditions in the past. Thus, with the ongoing situation of lockdown, many industries have been adversely impacted, and it is expected that the economy of such nations are going to suffer a massive loss over the upcoming years, and also the global economy is anticipated to slip into a recession, which is considered to hamper the growth of the overall market.

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Electric motors are widely used in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, disk drives, power tools, electric cars, and automated robots. These high-efficiency motors gain importance over standard motors due to longer operating life, low energy consumption, low maintenance, high endurance for fluctuating voltages, and others.
Although high cost of premium motors poses challenge to their adoption, customers now understand their long-term benefits. The use of premium motors increases the efficiency of appliances by approximately 20% as compared to standard motors, which in turn saves energy.

Siemens AG holds a large share of the global electric motor market, with 290 major production and manufacturing plants, and technological advancements in different sectors, including industry, healthcare, energy, and infrastructure. ABB Group generates the second highest revenue in the market.

The North America electric motor market accounted for the highest revenue in 2017 as compared to other regions due to advancements in technology and the usage of electric motors in major sectors such as automotive, domestic appliances, commercial & industrial applications, transportation, and others. In Asia-Pacific, electric motor has its application in industries such as transportation, industrial & commercial applications, HVAC, military, and others.

Thus, AC, DC, and hermetic electric motors have become an integral part of the equipment industry in the region. Moreover, countries in Asia-Pacific are agricultural hub, and therefore the agricultural sector is one among the primary application sectors for electric motors.

The AC motor segment secured the highest share in the global electric motors market in 2017 and is expected to grow at a CAGR of 4.5% during the forecast period. In terms of application, motor vehicles are expected to account for the highest market share in the coming years.

North America is a pioneer in the electric motor market, owing to the expansion of industrial machinery sector in the region. Therefore, AC electric motor market share is highest among the Asia-Pacific countries. More than 60V secured the highest market share in 2017, owing to growth in automotive sector particularly in developing nations. In addition, increase in demand for brushless motors from small-scale food & beverage industries is expected to boost the market growth. North America and Asia-Pacific are expected to register significant growth during the forecast period.

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