Global Electric Motors 2021 - Opportunities And Strategies, Market Forecast And Trends

The electric motor manufacturing market consists of sales of electric motors. A motor converts electrical energy into mechanical energy and supplies power to devices. The motor manufacturing market is segmented into AC motor and DC motor. 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 Size And Drivers:

The global electric motors market is expected to grow from $64.1 billion in 2020 to $66.88 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The growth 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 market is expected to reach $72.18 billion in 2025 at a CAGR of 2%. Increasing use of household appliances is expected to contribute to the growth of the motor manufacturing market in the forecast period.

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Trends In The Global Electric Motors Market

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.

Global Electric Motors Market Segments:
The global electric motors market is further segmented –
By Type: Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor,
By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP),
By Voltage Range: 9V & Below, 10-20 V, 21-60 V, 60 V And Above
By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace & 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 global electric motors market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Electric Motors Market Report Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides electric motors market report market overviews, analyzes and forecasts market size and growth for the global electric motors market, electric motors market report market share, electric motors market report market players, electric motors market report market segments and geographies, electric motors market report market’s leading competitors’ revenues, profiles and market shares. The electric motors market report market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.