Dublin, Dec. 26, 2022 (GLOBE NEWSWIRE) -- The "Global Electric Motors Market by Type (AC, DC), Power Rating (<1 kW, 1-2.2 kW, 2.2-375 kW, >375 kW), End User (Industrial, Commercial, Residential, Transportation, and Agriculture), Voltage, Rotor Type, Output Power and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global electric motors market is estimated to grow from USD 134.0 Billion in 2022 to USD 186.0 Billion by 2027; it is expected to record a CAGR of 6.8% during the forecast period. Increasing demand for HVAC systems among residential, commercial, and industrial end-users, growing demand for electric motors in manufacturing industries, and rising demand for energy-efficient motors are the major driving factor for the electric motors market.
AC Motors: The largest segment of the electric motors market, by type
Based on type, the electric motors market has been split into AC Motors, and DC Motors. AC motors were estimated to account for a larger share of the electric motors market in 2021. Advantages like low maintenance and high power, making electric motors ideal for such applications.
Industrial segment is expected to emerge as the largest segment based on end-user
By end user, the electric motors market has been segmented into Industrial, commercial, residential, transportation, and agriculture. The industrial segment is expected to be the largest segment during the forecast period due to increased use of electric motors in the industrial sector as they are energy-efficient, produce low noise and offer high reliability.
2.2-375 kW segment is expected to emerge as the second largest segment based on power rating
By power rating, the electric motors market has been segmented into <1 kW, 1-2.2 kW, 2.2-375 kW, and >375 kW. 2.2-375 kW segment is expected to be the second largest segment during the forecast period. Modernization of utilities-based infrastructure in developed nations and factors such as growing urban population and industrialization in developing nations are driving the market for 2.2-375 kW electric motors in the Asia Pacific and Europe.
Europe is expected to be the second largest market during the forecast period
Europe is expected to be the second-fastest growing market due to the advancements in machinery and industrial equipment and their increased deployment in the region are expected to drive the growth of the electric motors market in Europe.
Market Dynamics
Drivers
- Increasing Demand for HVAC Systems Among Residential, Commercial, and Industrial End-users
- Growing Demand for Electric Motors in Manufacturing Industries
- Rising Demand for Energy-Efficient Motors
Restraints
- Fluctuating Prices of Raw Materials
Opportunities
- Transition of the Global Automotive Industry Toward Electric Vehicles
- Emerging Robotics Technology to Increase Demand for Electric Motors
Challenges
- Easy Availability of Low-Quality and Inexpensive Electric Motors
- Shortage of Components and Supply Chain Issues Leading to Higher Product Cost
| Report Attribute | Details |
| No. of Pages | 292 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $134 Billion |
| Forecasted Market Value (USD) by 2027 | $186 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Electric Motors Market, by Type
6.1 Introduction
6.2 AC Motors
6.3 DC Motors
7 Electric Motors Market, by Power Rating
7.1 Introduction
7.2 <1 kW Motors
7.3 1-2.2 kW Motors
7.4 2.2-375 kW Motors
7.5 > 375 kW Motors
8 Electric Motors Market, by Voltage
8.1 Introduction
8.2 Low Voltage (Below 690 V)
8.3 Medium Voltage (Between 690 V and 45 kV)
8.4 High Voltage (Above 45 kV)
9 Electric Motors Market, by End-user
9.1 Introduction
9.2 Industrial
9.3 Commercial
9.4 Residential
9.5 Transportation
9.6 Agriculture
10 Electric Motors Market, by Rotor Type
10.1 Introduction
10.2 Inner Rotors
10.3 Outer Rotors
11 Electric Motors Market, by Output Power
11.1 Introduction
11.2 <1 Hp Motors
11.3 >1 Hp Motors
12 Electric Motors Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- ABB
- Allied Motion
- Ametek
- Arc Systems
- Brook Crompton
- Buhler Motor
- Faulhaber Group
- Frankline Electric
- Hitachi
- Hyosung Heavy Industries
- Johnson Electric
- Maxon Motor
- Nidec Corporation
- Regal Rexnord Corporation
- Robert Bosch GmbH
- Rockwell Automation
- Shandong Huali
- Siemens
- Teco Electric & Machinery
- Toshiba Corporation
- Weg
- Windings Inc.
- Wolong Electric
- Yaskawa
For more information about this report visit https://www.researchandmarkets.com/r/15olyf
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