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<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong> Industry Analysis, Trend and<br />

Growth, 2016-2026<br />

December 2016<br />

Report Id : REP-GB-2404<br />

Status : Ongoing<br />

Category : Industrial Automation and Equipment<br />

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<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong><br />

Tremendous technological advancements and the need for high efficiency motors are the two factors<br />

responsible for the growth of electric motors market in the past few years. <strong>Electric</strong> motors are widely<br />

used in motor vehicles, household appliances, material handling equipment, etc. An unmitigated increase<br />

in fuel prices coupled with the need to reduce air pollution has led to an increased preference for electric<br />

vehicles in several countries. This, in turn, is expected to upsurge the electric motor market. Premium<br />

efficiency motors are expected to gain traction in near future as they are low maintenance, consume low<br />

power and have many other unique features as well.<br />

Based on type, the AC electric motors are smaller, cheaper and light in weight and are widely used in<br />

HVAC equipment. Hence, AC electric motors will dominate the electrical motor market. However, owing<br />

to an increase in demand for them from HVAC equipment manufacturers, hermetic motors are expected<br />

to witness significant growth during the forecast period. Based on output power, fractional horsepower<br />

electric motors will dominate the market owing to their use in low power applications. Based on<br />

application, the motor vehicles segment is expected to dominate the market. This will mostly be due to<br />

the increasing production of electric vehicles across the globe. Moreover, increasing adoption of electric<br />

vehicles in countries like United States, China, India, Germany, etc. will also propel the demand for<br />

electric motors during the forecast period.<br />

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<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong><br />

<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong>: Drivers<br />

Growing automobile production coupled with increasing preference for electric vehicles are the major<br />

factors driving the growth of the global electric motor market. That apart, increasing presence of motordriven<br />

appliances in households is also expected to fuel the growth of the electric motors market in near<br />

future. Since electric motors are also widely used in agricultural equipment, the growth of the agriculture<br />

sector is anticipated to increase the demand for electric motors during the forecast period. Additionally,<br />

growing awareness about greenhouse effect is also expected to shift the focus from conventional motors<br />

to electric motors, which in turn is projected to escalate the electric motor market.<br />

<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong>: Restraints<br />

The high initial purchase cost as well as the lack of awareness about advantages of electric motors is<br />

expected to restrict the growth of global electric motor market. Replacement of electric motors with gas<br />

turbines in large industries is also expected to hamper the growth of this market. Moreover, increasing<br />

adoption of linear motors in many equipment like material handling and machine tools might curb also<br />

the growth of the electric motor market.<br />

<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong>: Segmentation<br />

The global electric motor market can be segmented on the basis of type, output power, application and<br />

regions. On the basis of type, electric motor market is segmented into AC, DC and hermetic electric<br />

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<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong><br />

motors. On the basis of output power, the market is segmented into fractional horsepower (FHP) electric<br />

motor and integral horsepower (IHP) electric motor. On the basis of application, the electric motor<br />

market is segmented into HVAC (Heating, ventilating and air conditioning) equipment, motor vehicles,<br />

industrial machinery, aerospace and transportation, household appliances and industrial machinery.<br />

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<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong>: Region wise Outlook<br />

On the basis of region, the Asia Pacific region is expected to witness significant growth over the forecast<br />

period. Increasing industrialization coupled with continuous increase in manufacturing plants in emerging<br />

economies like India, China and Indonesia is expected to fuel the demand for electric motors in the Asia<br />

Pacific region. North America and Europe are witnessing increased preference for electric motors and<br />

this will further propel the growth of the electric motor market during the forecast period.<br />

<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong>: Key Players<br />

Examples of some of the market participants identified in the global electric motor market are:<br />

ABB Group<br />

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<strong>Electric</strong> <strong>Motor</strong> <strong>Market</strong><br />

Siemens AG, Allen-Bradley (Rockwell Automation, Inc.)<br />

AMETEK Inc., ARC Systems Inc., Brook Crompton Americas<br />

Emerson <strong>Electric</strong> Co., Hitachi, Ltd.<br />

General <strong>Electric</strong>, Franklin <strong>Electric</strong> Co., Inc.<br />

Johnson <strong>Electric</strong>, Nidec Corporation<br />

Robert Bosch GmbH, Maxon <strong>Motor</strong> AG<br />

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