Electric Motor Market Report 2021: Global Industry Share, Top Key Players, Regional Study, Upcoming Trends and Growth Segments 2027

 A comprehensive overview of the Electric Motor market is recently added by UnivDatos Market Insights to its humongous database. The Electric Motor report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Electric Motor market. The Electric Motor report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Electric Motor at the global and regional levels.

Market Overview

The market is expected to witness a boost on account of a rise in the GDP per capita which is leading to the growing demand for luxury such as smart safety featured vehicles, smart homes, smart offices, etc. As per the World Bank, GDP per capita worldwide increased from US$ 10,249 in 2015 to US$11,433 in 2019. Moreover, surging IoT adoption across the sectors such as medical, industrial, commercial, and residential as well is also leading to the proliferating demand for electric motors for automated operations. As per a study conducted by top consulting firm, IoT will have an economic impact of around US$11 trillion by the end of 2025 globally. The growing demand for automation, centralized monitoring, and predictive maintenance are leading the IoT technology most prominently in the manufacturing industry.

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COVID-19 Impact

The electric motor industry witnessed a downfall during the COVID-19 pandemic time due to the halt in the manufacturing and industrial facilities and the supply chain disruptions. As per Deloitte, 2020 also experienced a significant dip in manufacturing employment levels, largely due to forced shutdowns in the early days of the pandemic and suppressed orders, with April recording manufacturing’s lowest employment levels since 2010. As per The Federation of American Scientists (FAS), the global economic growth in 2020 to an annualized rate of -3.4% to -7.6%, with a recovery of 4.2% to 5.6% projected for 2021. Global trade is estimated to have fallen by 5.3% in 2020 but is projected to grow by 8.0% in 2021. Moreover, Major advanced economies, which comprise 60% of global economic activity, are projected to operate below their potential output level through at least 2024. This, the loss due to pandemic would take quite a long time to recover.

Global Electric Motor Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Type, the market is primarily bifurcated into

·         AC Motor

·         DC Motor

·         Hermetic Motor

The AC motor dominated the application type segment and gathered X% of the Electric Motor Market in 2020. Moreover, the market is expected to grow at X% CAGR to reach US$ X million by the year 2027.

By Output Power, the market is primarily segmented into

·         IHP (Above 1 HP)

·         FHP (Unto 1 HP)

Based on the output Power, the FHP segment accounted for the largest share and is expected to grow at X% CAGR during the forecast period 2021-2027. In 2020, the FHP segment generated a revenue of US$ X million.

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By Voltage Range, the market is primarily segmented into

·           9 V & below

·           10-20 V

·           21-60 V

·           60 V & Above

Based on the Voltage Range, the 60V & Above segment accounted for the largest share and is expected to reach US$ X million by 2027. However, the 21-60V segment is expected to witness considerable growth of X% in the forecast period.

By Application, the market is primarily segmented into

·           Industrial Machinery

·           Motor Vehicle

·           HVAC Equipment

·           Aerospace & Transportation

·           Household Appliances

Based on the Application, the Industrial Machinery segment accounted for the largest share and is expected to reach US$ X million by 2027. However, the motor vehicle segment is expected to witness considerable growth of X% in the forecast period.

By Rotor Type, the market is primarily segmented into

·           Inner

·           Outer

Based on the Rotor Type, the Inner rotor segment grabbed X% market share in 2020. Moreover, the market is expected to reach USD X Mn by 2027. However, the outer rotor segment would witness a CAGR of X% during the forthcoming years.

Electric Motor Geographical Segmentation Includes:

·         North America

·         Europe

·         Asia-Pacific

·         Rest of the World

Based on the estimation, the North America region dominated the Electric Motor Market with almost US$ X million in revenue in 2020. At the same time, the Europe region is expected to grow remarkably with a CAGR of X % over the forecast period owing to the entrance of new players in the region.

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The major players targeting the market includes

·         ABB Group

·         ARC Systems, Inc.

·         Asmo Co., Ltd.

·         Brook Crompton UK Ltd.

·         Dr. Fritz Faulhaber GmbH

·         Emerson Electric

·         Maxon Motors AG

·         Regal Beloit Corporation

·         Rockwell Automation, Inc.

·         Siemens AG

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Electric Motor Market. The leading players have been analysed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

·         What are the latest trends, new patterns, and technological advancements in the Electric Motor Market?

·         Which factors are influencing the Electric Motor Market over the forecast period?

·         What are the global challenges, threats, and risks in the Electric Motor Market?

·         Which factors are propelling and restraining the Electric Motor Market?

·         What are the demanding global regions of the Electric Motor Market?

·         What will be the global market size in the upcoming years?

·         What are the crucial market acquisition strategies and policies applied by global companies?

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