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The electric motor sales market share is expected to increase by USD 52.69 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.38%.
This electric motor sales market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric motor sales market segmentation by application (industrial, residential, and commercial) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The electric motor sales market report also offers information on several market vendors, including ABB Ltd., Allied Motion Technologies Inc., AMETEK Inc., Arc Systems Inc., Brook Crompton Group, Denso Corp., Franklin Electric Co. Inc., Hyosung Heavy Industries Corp., Johnson Electric Holdings Ltd, maxon motor AG, Nidec Corp., Regal Rexnord Corp., Rockwell Automation Inc., Siemens AG, TECO Electric and Machinery Co. Ltd., TOSHIBA CORP, WEG SA, and Wolong Electric Group among others.
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The transition of the global automotive industry to EV and robotic technologies is notably driving the electric motor sales market growth, although factors such as the easy availability of low-cost electric motors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the electric motor sales industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Electric Motor Sales Market Driver
The transition of the global automotive industry to EV and robotic technologies is one of the major drivers impacting electric motor sales market growth. The global automotive industry is transitioning to electromobility as EV technology undergoes major changes. In Europe, EVs equipped with electric motors are becoming more popular as a result of active efforts to create a decarbonized society. Advances in battery technology have reduced battery costs and increased charging speeds. Increased government support in the form of tax breaks and incentives to promote eco-friendly EVs with electric motors also provides growth opportunities for the electric motor sales market. According to the IEA, China is expected to make up 50% of the world's EV fleet by 2025. Furthermore, emerging robotics technology is likely to present some opportunities for European market players in selling electric motors shortly.
Key Electric Motor Sales Market Trend
Increasing demand for HVAC systems is one of the major trends influencing electric motor sales market growth. The demand for HVAC systems is increasing from residential, commercial, and industrial end-users as these systems maintain indoor air quality and offer thermal comfort. They are one of the fundamental components of contemporary infrastructures, particularly for huge offices or shopping complexes. To maximize their life and power and achieve high airflow system efficiency, electric DC motors are frequently employed in HVAC systems. With dramatic changes in EV technology, the total number of brushless DC motors installed in EV/hybrid electric vehicles (HEV) is increasing. Moreover, the growing industrial and commercial sectors in China and India have led to an increase in the demand for HVAC systems in the Asia-Pacific region. Such factors will drive the growth of the global electric motor sales market during the forecast period.
Key Electric Motor Sales Market Challenge
The easy availability of low-cost electric motors is one of the major challenges impeding electric motor sales market growth. The electric motor sales market is highly fragmented, with many domestic and foreign players. Product quality is a key differentiator in this market. The organized sector of the electric motor sales market mainly caters to industrial buyers and maintains excellent product quality, while the unorganized sector offers a cost-effective market for developing local markets. In most countries, local electric motor makers target unorganized sectors and fiercely compete with global suppliers in their respective markets. Major market players now face stiff competition from such unorganized suppliers of low-cost and inferior quality electric motors. This is a key challenge for the growth of the electric motor sales market. In addition, due to low quality and low price, electric motors suffer from various problems such as low resistance, electrical overload, frequent vibrations, pollution, and overheating. Such factors can challenge and affect the efficiency of machines associated with these inferior electric motors. Thus easy availability of low-cost cheap motors may hamper the global electric motor sales market growth during the forecast period.
This electric motor sales market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global electric motor sales market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric motor sales market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the electric motor sales market encompasses successful business strategies deployed by the key vendors. The electric motor sales market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The electric motor sales market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the electric motor sales market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market’s growth will originate from APAC during the forecast period. China is the key market for electric motor sales market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Advances in the agricultural sector and large investments in the industrialization of countries such as China, India, Korea, and Australia will facilitate the electric motor sales market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic led to the temporary shutdown of electric motor manufacturing plants in several countries across APAC in 2020. The governments of various countries in the region imposed lockdowns, which led to a supply-demand imbalance in the region. This continued until the end of 2020. This negatively impacted the sales of electric motors in 2020.
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The electric motor sales market share growth in the industrial segment will be significant during the forecast period. These high-efficiency motors are becoming more important due to several factors. These include long life, low maintenance, energy consumption, high immunity to fluctuating voltages, and cost savings.
This report provides an accurate prediction of the contribution of all the segments to the growth of the electric motor sales market size and actionable market insights on the post-COVID-19 impact on each segment.
AC Electric Motor Sales in Oil and Gas market - Market share is expected to increase by USD 3.11 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.14%.
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Electric Motor Sales Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.38% |
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Market growth 2022-2026 |
$ 52.69 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.12 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 47% |
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Key consumer countries |
US, China, Germany, France, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Allied Motion Technologies Inc., AMETEK Inc., Arc Systems Inc., Brook Crompton Group, Denso Corp., Franklin Electric Co. Inc., Hyosung Heavy Industries Corp., Johnson Electric Holdings Ltd, Maxon motor AG, Nidec Corp., Regal Rexnord Corp., Rockwell Automation Inc., Siemens AG, TECO Electric and Machinery Co. Ltd., TOSHIBA CORP, WEG SA, and Wolong Electric Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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