Electric Motors Market Share, Size, Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024

Electric Motors Market Share, Size, Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024

Press Release

Market Study Report Has Added A New Report On Electric Motors Market That Provides A Comprehensive Review Of This Industry With Respect To The Driving Forces Influencing The Market Size. Comprising The Current And Future Trends Defining The Dynamics Of This Industry Vertical, This Report Also Incorporates The Regional Landscape Of Electric Motors Market In Tandem With Its Competitive Terrain.


Electric Motors Market is estimated to surpass USD 36 billion by 2024; according to a new research report by Global Market Insights, Inc.


Global electric motor shipments are expected to cross 2 billion units till 2024. High adoption of electric vehicles will primarily drive the industry growth till 2024. Major players from automotive sector are focusing at increasing their electric vehicle production which in turn drive industry demand. For instance, Honda plans to electrify two-third of its vehicle production by 2030. Similarly, Volkswagen aims at accomplishing over 2 million vehicle sales by 2025. These continuous efforts by the OEMs will lead to increased electric motors demand, thus fostering the industry growth.


Request a sample of this premium report titled at: https://www.marketstudyreport.com/request-a-sample/682268

Various governments have mandated several targets regarding reduction of CO2 emissions. These targets aim for 95 g CO2/km cap by 2020 and are anticipated to become more stringent beyond 2020. Fulfilling these targets require complete vehicle electrification, strengthening the product penetration over the forecast timeframe. However, operational & supply chain issues coupled with probability of product failure may hamper the electric motors market growth over the forecast timeframe.


Aftermarket is poised to grow rapidly at over 8% CAGR owing to high demand from local and international markets. This can be credited to the factors such as price competitiveness and regulatory compliance. Higher profit margins along with shifting trends toward the noiseless and precise operation of the products are expected to further fuel the industry growth till 2024.


Shifting focus towards solar powered consumer goods owing to their benefits is witnessed as an opportunity for industry participants. These benefits include high efficiency and low power consumption. Additionally, government initiatives to promote their usage will support the electric motors demand. For instance, US Department of Energy is investing heavily on the development of superior solar powered products.


Extensive R&D activities are carried out for energy efficiency enhancement in electric motors. For instance, the U.S. Department of Energy (DOE) announced an investment of approximately USD 25 million for 13 R&D projects, targeting technological advancements in electric motors. These advancements will induce immense potential and will provide enhance product features for different applications.


Small DC motors for automotive is anticipated to hold highest market share crossing USD 26 billion over the forecast timeframe. Extensive usage in automobile industry, especially in the key mechanical applications such as cooling systems and electric power steering (EPS) will support the industry growth. Traction motors will showcase exponential growth till 2024 owing to rising electric vehicle production across the globe. Additionally, they are used as a major component in varied application areas including industrial & electrical devices, propelling the product penetration.


Small DC motors for consumer goods & industrial applications will account for a considerable revenue share and grow at over 5% from 2017 to 2024. This can be credited to their high acceptance from industrial machinery and consumer electronics. Provision of benefits such as high performance, efficiency and outstanding control properties will contribute significantly towards the industry growth.


OEMs will account for over 80% revenue share in electric motors market till 2024. Increasing prominence of DC motors in consumer, industrial, and automotive applications will support the high revenue generation. Industry players are continuously focusing on the development of cost effective solutions to gain competitive edge. Additionally, reduction in taxes and excise duties for auto components boosting trade will escalate the demand for OEM products over the coming years.


Asia Pacific is anticipated to capture approximately 55% of the electric motors market share over the forecast timeframe. Substantial automobile production across the region will mainly drive the regional growth. Focus of automobile industry towards emission reduction and fuel economy enhancement has resulted in implementation of green vehicles in various countries. Moreover, favorable regulatory landscape in the region regarding vehicle electrification will further propel the industry growth. For instance, Indian government has mandated vehicle electrification by 2030 and is forcing automobile OEMs for early planning of the same.


Rising deployment in commercial & passenger vehicles will spur the North America electric motors market over the forecast timeframe. Latin America will grow significantly owing to rising trading activities and availability of cheap labor. MEA will grow at over 3% CAGR from 2017 to 2024. Increasing sales of all-terrain vehicles (ATVs) along with shifting trend towards hybrid vehicles will support the regional growth.


WEG, Nidec Corporation, ABB, Toshiba, and Robert Bosch are among the prominent players in electric motors market. Other notable players include Regal Beloit, Allied Motion Technologies, General Electric, Shandong, and Hyosung.


Mergers and acquisitions are among the key strategies adopted by the industry participants to strengthen their foothold. For instance, in February 2017, Nidec Corporation acquired Emerson Electric Co. for diversification of its product line and enhancing its visibility in the industry.


Joint venture is other strategy considered by the industry participants to gain competitive edge. For instance, in July 2011, Bosch and Daimler joined hands to produce over 1 million electric motors by 2020.


Electric Motors market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million units and revenue in USD million from 2013 to 2024, for the following segments:


Electric Motors Market by Motor

DC Motor

Traction Motors

Small DC motors for automotive

Air suspension motors

ABS motors

Vacuum pump motors

Forklift actuation motors

Cooling fans & blower’s motors

Small DC motors for consumer goods & industrial applications

High voltage railway coach fan motor

Domestic ceiling fan motor for solar system

High voltage cooling fan motor

Motor for refrigerator compressor


Electric Motors Market by End use




Request a discount on standard prices of this premium report titled at: https://www.marketstudyreport.com/check-for-discount/682268

Report Content:


Chapter 1   Methodology & Scope


1.1   Methodology


1.1.1   Initial data exploration


1.1.2   Statistical model and forecast


1.1.3   Industry Insights and validation


1.1.4   Scope, definitions, & forecast parameters


1.2   Data Sources


1.2.1   Secondary


1.2.2   Primary


Chapter 2   Executive Summary


2.1   Electric motors industry 3600 synopsis, 2013 – 2024


2.1.1   Business trends


2.1.2   Product trends


2.1.3   End-use trends


2.1.4   Regional trends


Chapter 3   Electric Motors Industry Insights


3.1   Industry segmentation


3.2   Industry landscape, 2013 – 2024


3.3   Industry ecosystem analysis


3.3.1   Component suppliers


3.3.2   Manufacturers


3.3.3   System integrators


3.3.4   Profit margin analysis


3.3.5   Distribution channel analysis   OEM   Aftermarket   Repair Services


3.4   Pricing analysis


3.4.1   By region   North America   Europe   LATAM   APAC   MEA


3.4.2   Pricing parameters


3.4.3   Profit margin points


3.4.4   Penetration pricing


3.4.5   Pricing insights


3.5   Cost structure analysis


3.5.1   Variable costs


3.5.2   Fixed costs


3.5.3   Comparison with peers


3.5.4   Key insights by industry experts


3.6   Technology landscape


3.6.1   Production methods


3.6.2   Key insights   Permanent magnetic motors   Switched reluctance motors   Piezoelectric motors


3.7   Regulatory landscape


3.7.1   U.S.   National Electrical Manufacturers Association (NEMA) motor efficiency standards   International electrotechnical commission (IEC)


3.7.2   EU   Minimum energy efficiency standard (MEPS)   Zero emission vehicles (ZEV)


3.7.3   China   China Energy Labels for motors


3.7.4   India   Super-efficient equipment & appliance deployment


3.7.5   Summary of key policy measures and attributes


3.8   Industry impact forces


3.8.1   Growth drivers   North America   Adaptation of electric motors in passenger cars and commercial vehicles.   Increasing penetration of electric motors in consumer goods   Europe   Rising adoption of electric vehicles   Favourable regulatory landscape   Asia Pacific   Electric motors demand in green vehicles   Increasing sales of hybrid vehicles   Latin America   High usage in varied applications   Middle East & Africa   Growth of electronics industry


3.8.2   Industry challenges and pitfalls   Operation and supply chain issues   Probability of product failure


3.9   Electric vehicle Production statistics


3.9.1   PHEV


3.9.2   EV


3.9.3   OEMs announcements on electric car ambitions


3.10    Innovation & sustainability


3.10.1   Key insights


3.11    Growth potential analysis


3.12    Porter’s analysis


3.13    PESTEL analysis


3.14    Competitive landscape, 2016


3.14.1   Current & future competitors


3.14.2   Company market share


3.14.3   Strategy dashboard    Acquisition targets    Opportunities for patent monetization/licensing


Chapter 4   Business Expansion Opportunities in Electric Motor Market


4.1   Entry Strategies


4.1.1   Introduction


4.1.2   Electric power steering motors


4.1.3   Window lift motors


4.1.4   Tailgate motors


4.1.5   Throttle control motors


4.1.6   Cooling pump motors


4.1.7   AdBlue pumping motors


4.1.8   Key insights   Franchising   Exporting   Licensing   Joint Venturing   Contract manufacturing   M&A   Fully owned manufacturing facilities   Turnkey contracts   Counter trades


4.2   Market analysis for Lucas TVS


4.2.1   Market Penetration


4.2.2   Product Development


4.2.3   Market Development


4.2.4   Product Diversification


4.3   Business expansion focus points


4.3.1   Marketing   Region wise Marketing Strategies:


4.3.2   Investment & control


4.3.3   Sourcing


4.4   Regional expansion opportunities


4.4.1   North America electric motor industry outlook   Potential customers   Consumer buying behavior   Vendors   Distributors   Integrators


4.4.2   South America electric motor industry outlook   Potential customers   Consumer buying behavior   Vendors   Distributors   Integrators


4.4.3   Asia Pacific electric motors outlook   Potential customers   Consumer buying behavior   Vendors   Distributors   Integrators


Questions? Get them answered via https://www.marketstudyreport.com/enquiry-before-buying/682268 before taking a buying decision on this premium report titled Electric Motors Market Size

About Us:

Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:

Market Study Report LLC

4 North Main Street,

Selbyville, Delaware 19975


Phone: 1-302-273-0910

US Toll Free: 1-866-764-2150

Email: [email protected]

Website: https://www.marketstudyreport.com

Blog: https://www.marketstudyreport.com/blog

Tags: , , , , , , ,