Learn about the global electric motors market through The Business Research Company, which provides information on electric motors market size, electric motors market drivers and restraints, electric motors market players, the COVID-19 impact on the electric motors market, and more.

The global electric motors market size is expected to grow from $91.86 billion in 2021 to $93.82 billion in 2022 at a compound annual growth rate (CAGR) of 2.1%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electric motor manufacturing market is expected to reach $93.85 billion in 2026 at a CAGR of 0.01%.

Increased tariffs on raw materials such as steel and aluminium will restrain the market for motor manufacturing in the forecast period.

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The electric motor manufacturing market consists of sales of electric motors. A motor converts electrical energy into mechanical energy and supplies power to devices. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance. These include components such as rotor, bearings, stator, air gap, windings, and commutator. Devices that use electric motors consist of fans, blowers, household appliances, disk drives, batteries and power tools, machine tools, domestic appliances, HVAC applications, electric cars, and automated robots.

Global Electric Motors Market Segments Include:

By Type: Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor

By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP)

By Voltage Range: 9 V and Below, 10-20 V, 21-60 V, 60 V and Above

By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace and Transportation, Household Appliances, Other Commercial Applications

By Speed: Low-Speed (less than 1,000 rpm), Medium-Speed (1,001 to 25,000 rpm), High-Speed (25,001 to 75,000 rpm), Ultra-High Speed (greater than 75,001 rpm)

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the electric motor manufacturing market in 2021.

Motor manufacturing companies are increasingly manufacturing IoT enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behaviour and sends an alert upon detecting any deviation from normal behaviour. Smart motors offer several benefits such as increased lifespan of equipment, and improved safety.

TBRC’s electric motors market report covers:

Major Market Players: ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc., and Baldor Electric Company, Inc.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Electric Motors Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides electric motors market overviews, analyzes and forecasts market size, share, electric motors market players, electric motors market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s electric motors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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