The global electric motors market was worth USD 106.3 billion in 2020 and is expected to reach USD 207.3 billion by 2030, growing at a CAGR of 6.7 percent between 2021 and 2030.
An electric motors is a small device that converts electrical energy into mechanical energy. Fans, electric shavers, electric toothbrushes, robots, electric pumps, and windshield scrubbers all use an electric motors. Micro motors are used in a variety of industries, including automotive, robotics, pharmaceuticals, and healthcare. It is compact, lightweight, and has a high torque.
Electric motors characteristics such as high efficiency, high torque, durability, outstanding controllability, and reliability promote its use in a wide range of industrial applications. Demand for electric motors from electric vehicles, robotics technology, and HVAC applications are some of the key factors driving market growth.
Compressors, pumps, automobiles, machine tools, lathes, power tools, home appliances, and electric autos all contain electric motors. These highly effective motors are more expensive than ordinary motors, but they offer a number of advantages over standard motors, including a longer operating life, lower energy usage, less maintenance, and a higher tolerance for voltage variations. The need for high-efficiency motors is anticipated to rise due to the applications of electric motors’ need for increased productivity and low power consumption.
Due to the great efficiency of AC synchronous motors, the automotive industry’s surge in demand for superior machine control is a major driver of the electric motor market’s expansion. To get the most out of the motors, new energy-efficient motors have been developed in response to laws such Minimum Energy Performance Standards (MEPS). This has also prompted the adoption of energy-efficient motors in appliances, which is boosting the global market for electric motors. Due to characteristics like high torque and low noise, electric motor demand has increased in heating, ventilation, and air conditioning (HVAC) applications. The International Energy Agency (IEA) estimates that approximately 40% of electricity is utilized to power electric motors.
The need for improved productivity and low power consumption by the applications of electric motor is expected to increase the demand for high-efficiency motors.
Key players in the report:
Nichibo DC Motor
Sunonwealth Electric Machine Industry Co., Ltd.
Keli Motor Group Co., Ltd
Johnson Electric Holdings Limited
Newmotech Co., Ltd
Diehl Stiftung & Co. KG
Nidec Motor Corporation
CG Power and Industrial Solutions Limited
Segmentation by Type:
Segmentation by Application:
Wash Dryer and Freezer
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of this Market in these regions:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current trends and future estimations.
- Extensive analysis of global electric motor market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global electric motor market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within the global electric motor market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global electric motor market.
Frequently Asked Questions
- Who are the major players in electric motors market?
- What is the current size of electric motors market?
- How much is the CAGR of electric motors market?
- Which are the end user of electric motors market?
- Which region will lead the global electric motors market?
Some Points from Table of Content:
1 Electric Motors Market for Household Appliances Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Electric Motors Market for Household Appliances
1.3 Market for Household Appliances Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Electric Motors Market for Household Appliances
1.4.2 Applications of Electric Motors Market for Household Appliances
1.5 Market Exchange Rate
2 Research Method and Logic
2.2 Research Data Source