Electric Motor Market Size, Share, Segmentation and Research Report 2023-2028 | IMARC Group

Global electric motor market size reached US$ 107.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 135.0 Billion by 2028.

BROOKLYN, NEW YORK, UNITED STATES, September 3, 2023/EINPresswire.com/ — IMARC Group, a leading market research company, has recently released a report titled “𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐨𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖.” The study provides a detailed analysis of the industry, including the global electric motor market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Electric Motor Market?

Global electric motor market size reached US$ 107.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 135.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐚 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/electric-motor-market/requestsample

What is Electric Motor?

An electric motor is a device that converts electrical energy into mechanical energy. It operates on the principle of electromagnetic induction, in which an electric current generates a magnetic field to produce motion. The primary types of electric motors include alternating current (AC) motors, direct current (DC) motors, and synchronous motors. Moreover, electric motors find applications in diverse fields, ranging from household appliances like washing machines to industrial machinery, such as conveyor belts. They also power electric vehicles (EVs) and renewable energy systems like wind turbines.

What are the Growth Prospects and Trends in the Electric Motor Industry?

The ongoing trend of reducing motor sizes without sacrificing performance is making electric motors more versatile for a range of applications which in turn is impelling the growth of the market. In addition to this, governments are tightening emission norms to combat climate change, leading to an increased focus on electric motors as an eco-friendly option. Besides this, the lower maintenance and operational costs of electric motors, as compared to combustion engines, make them an attractive long-term investment thus propelling the market growth. Additionally, the growing automated manufacturing techniques necessitating the use of electric motors for enhanced precision and speed, is acting as another growth-inducing factor. Besides this, the increasing adoption of electronics, such as drones and electric toothbrushes is facilitating the demand for small, efficient motors, which in turn is positively influencing the market growth. Along with this, the automotive sector’s rapid shift towards electric vehicles (EVs) is significantly boosting the market for electric motors. Other factors, such as rapid urbanization in emerging economies and the increasing adoption of renewable energy sources like wind and solar power, are anticipated to drive the market towards growth.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.imarcgroup.com/checkout?id=937&method=1

Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Who are the Key Players Operating in the Electric Motor Market?

The competitive landscape of the market has also been examined with some of the key players being.

• ABB Group
• Siemens Ag
• WEG SA
• TECO
• Regal Beloit Corporation
• Nidec Corporation.

What is Included in Market Segmentation?

The report has categorized the market based on motor type, voltage, rated power, magnet type, weight, speed, and application.

Breakup by Motor Type:
• AC Motor
o Induction AC Motor
o Synchronous AC Motor
• DC Motor
o Brushed DC Motor
o Brushless DC Motor
• Others

Bases on Voltage:
• Low Voltage Electric Motors
• Medium Voltage Electric Motors
• High Voltage Electric Motors

Analysed by Rated Power:
• Fractional Horsepower Motors
o Fractional Horsepower (< 1/8) Motors
o Fractional Horsepower (1/8 – 1/2) Motors
o Fractional Horsepower (1/2 – 1) Motors
• Integral Horsepower Motors
o Integral Horsepower (1 – 5) Motors
o Integral Horsepower (10 – 50) Motors
o Integral Horsepower (50 – 100) Motors
o Integral Horsepower (>100) Motors

Breakup by Magnet Type:
• Ferrite
• Neodymium (NdFeB)
• Samarium Cobalt (SmCo5 and Sm2Co17)

Based on Weight:
• Low Weight Motors
• Medium Weight Motors
• High Weight Motors

Analysed by Speed:
• Ultra-High-Speed Motors
• High-Speed Motors
• Medium Speed Motors
• Low Speed Motors

Applications:
• Industrial Machinery
• HVAC
• Transportation
• Household Appliances
• Motor Vehicles
• Aerospace
• Marine
• Robotics
• Others

Regional Analysis:
• Asia-Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.imarcgroup.com/request?type=report&id=937&flag=C

Key Highlights of The Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Related Report:

Get Sample of Electric Motor Manufacturing Plant Project Report 2023

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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