Global Electric Motors Market Trends, Strategies and Opportunities in Electric Motors Market 2021-2030
The Business Research Company Global Electric Motors Market Report 2021: Impact and Recovery of COVID 19 through 2030
LONDON, GREATER LONDON, United Kingdom, September 22, 2021 /EINPresswire.com/ – According to the new market research report ‘Global Electric Motors Market Report 2021: COVID-19 Impact And Recovery ”published by The Business Research Company, the size of the global electric motor 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%. is mainly due to the fact that companies have reorganized their operations and recovered from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities which resulted in operational challenges. The market is expected to reach $ 72.18 billion in 2025 at a CAGR of 2%. The increasing use of home appliances is expected to contribute to the growth of the motor manufacturing market during the forecast period. Growing electrification, increasing disposable income and rapid urbanization along with several other factors are driving the demand for home appliances, which in turn will boost the motor market.
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The electric motor manufacturing market includes sales of electric motors. A motor converts electrical energy into mechanical energy and powers 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 power consumption and low maintenance. These include components such as the rotor, bearings, stator, air gap, windings, and commutator. Devices that use electric motors include fans, blowers, home appliances, disk drives, batteries and power tools, machine tools, home appliances, HVAC applications, electric cars, and automated robots. .
Global Electric Motor Market Trends
More and more motor manufacturers are manufacturing IoT-enabled smart motors. These engines are equipped with sensors that monitor and track the health and performance of the engine. The sensors are connected to a monitoring database which continuously collects data and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detection of any deviation from normal behavior. Intelligent motors offer several advantages such as increased equipment life and improved safety.
Global Electric Motor Market Segments:
The global electric motor market is further segmented on the basis of type, power output, voltage range, application, speed, and geography.
By type: Alternating current (AC) motor, Direct current (DC) motor, Sealed motor
By output power: integral power (IHP), fractional power (FHP)
By voltage range: 9 V and less, 10-20 V, 21-60 V, 60 V and more
By Application: Industrial Machinery, Motor Vehicles, HVAC Equipment, Aerospace & Transportation, Home 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 motor market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East, and Africa.
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The 2021 Global Electric Motors Market report is part of a series of new reports by The Business Research Company that provides Electric Motors market overviews, analysis and forecast on the market size and growth for the market. Global Electric Motors, Electric Motors Market Share, Electric Motors Market Players, Electric Motors Market Segments and Geographies, Revenue, Profiles and Market Share of the Major Competitors in the Electric Motors Market. The Electric Motors Market report identifies key countries and segments for opportunities and strategies based on market trends and approaches of key competitors.
Read the 2021 Global Electric Motors Market Report from The Business Research Company for insight into the following:
Data segments: market size, global, by region and by country; Historical and forecast size, and growth rate for the world, 7 regions and 12 countries
Electric Motor Market Organizations Covered: 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., Baldor Electric Company, Inc., Allied Motion Technologies, Inc., Franklin Electric Co., Inc., Johnson Electric Holdings Limited, Robert Bosch GmbH, Denso Corporation, Toshiba International Corporation, General Electric Company, Nidec Corporation, WEG SA , Hitachi, Ltd., Hyosung Corporation, Danaher Corporation, Teco Electric Machinery & Co., Dr. Fritz Faulhaber GmbH Co. KG, Maxon Motor AG, Mitsubishi Electric, Panasonic, Shandong, Bulher Motor Gmbh, BorgWarner Inc, Continental AG.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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