Electric Motor Market Evolving Technology and Growth Outlook Growing at a CAGR of 4.5% by 2025

Electric Motor Market Investment in Innovative Services Augurs Well by 2025

PORTLAND, OR, UNITES STATES, October 19, 2021 /EINPresswire.com/ -- Electric motors are widely used in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, disk drives, power tools, electric cars, and automated robots. These high-efficiency motors gain importance over standard motors due to longer operating life, low energy consumption, low maintenance, high endurance for fluctuating voltages, and others.

The global electric motor market size was valued at $96,967.9 million in 2017, and is projected to reach $136,496.1 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. In 2017, North America dominated the global market, in terms of revenue, accounting for about 34.3% share of the global market, followed by Asia-Pacific.

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Siemens AG holds a large share of the global electric motor market, with 290 major production and manufacturing plants, and technological advancements in different sectors, including industry, healthcare, energy, and infrastructure. ABB Group generates the second highest revenue in the market.

Top Leading Players:
The major players operating in the electric motor industry include 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., and Siemens AG.

Key Findings Of The Study

In 2017, the AC motor segment dominated the global electric motor market in terms of revenue, and is projected to grow at a CAGR of 4.5% during the forecast period.
The FHP output segment is expected to be the largest customers for the electric motor market players globally.
North America is projected as one of the most dominant regions in the electric motor market and is expected to witness a high growth rate of around 3.8% during the forecast period.

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Global Electric Motor Market Segments:

By Motor Type -

Alternate Current (AC) Motor
Synchronous AC motors
Induction AC motor
Direct Current (DC) Motor
Brushed DC motor
Brushless DC motor
Hermetic Motor

By Application -

Industrial machinery
Motor vehicles
Heating, ventilating, and cooling (HVAC) equipment
Aerospace & transportation
Household appliances
Other commercial applications

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David Correa
Allied Analytics LLP
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