Electric Motors Market 2020 Worldwide Analysis, Opportunities and Forecast To 2024
Category: #business  By Ronak Bora  Date: 2020-01-16
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Electric Motors Market 2020 Worldwide Analysis, Opportunities and Forecast To 2024

In terms of end-use, the OEM sector represents increasing significance for the electric motors market, with increasing demand for the product across the automobile and consumer goods sectors steering the production of electric motors globally. The need to develop cost-effective yet sustainable forms of propulsion is accelerating the product penetration. Government and other regulatory bodies are offering tax – concessions and subsidies on auto components to promote trade, which is also adding impetus to the demand for OEM products.

The rise in electric motors market share during the forecast period is influenced by increased demand for sustainable products owing to higher carbon footprints worldwide. Gradual shift towards the use of electric vehicles for replacing fossil fuel-based cars and trucks will transform the automotive sector. The rising need for electrification of vehicles with an aim to curb carbon emissions generated by automobiles will undoubtedly spur electric motors industry trends over the forecast period.

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Burgeoning investments made by government authorities to control pollution levels will drive the electric vehicles market size. With rising disposable incomes, the automobile sector is witnessing an evolution with enhanced technological advancements and innovations in the sector boosting demand for electric motors worldwide. With several automobile giants such as Volkswagen, Hyundai, and Honda venturing into electric vehicle production, electric motors market is expected to witness exceeding consumption over the coming years.

Small DC motors for consumer goods and industrial applications have provided widespread traction to global electric motors market size owing to technological advancements in consumer goods coupled with a shift towards sustainable appliance solutions. These motors are extensively used in fast-moving consumer appliances such as washing machines, ceiling fans, and industrial machinery. Higher starting torque, cost-efficiency, durability, and high performance will drive the product adoption and offer lucrative growth opportunities to the market players.

Small DC motors segment from consumer goods and industrial installations to be valued at USD 7 billion by 2024

Increasing competition between the industry players is leading to technological advancements and efficiency in the products, further augmenting the electric motors market demand. Additionally, the aftermarket segment is likely to garner substantial revenues in the forthcoming years owing to rising need for upgradation, maintenance and replacement of products.

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There has been rising competition among key players and products are being available at different prices, for cost-effective products compliant with stringent regulatory norms, due to notable profit margins electric motors deliver. North America and Europe will showcase considerable demand for aftermarket products and positively compliment electric motors market outlook.

In terms of geographical expansion, Asia Pacific is expected to evolve as one of the most significant remuneration grounds for electric motors market. APAC boasts of a strong automobile and industrial sector where increasing FDIs in have propelled the automobile industry through frequent R&D efforts and capacity expansion. APAC showcases a rising need for carbon emission control owing to the increasing urbanization that leads to a robust industrial segment.

Asia Pacific electric motors market share is anticipated to surpass USD 20 billion by 2024

With an aim to curb the emission levels, countries like India will witness a higher adoption of green vehicles and substantially endorse the production of electric vehicles. The government of India has undertaken several initiatives towards promoting the production and sale of greener vehicles. Evidently, with increasing demand for electric vehicles there will been a remarkable surge in the consumption of electric motors across the region.

Table of Contents (ToC) of the report:

Chapter 5   Electric Motors Market, By Motor

5.1   Electric motors market share by motor, 2016 & 2024

5.2   Traction Motor

5.2.1   Electric motors Market estimates and forecast from traction motor, 2013 – 2024, (Million units) (USD Million)

5.2.2   Market estimates and forecast from traction motor by region, 2013 – 2024, (Million units) (USD Million)

5.3   Small DC motors for automotive

5.3.1   Market estimates and forecast from small DC motors for automotive, 2013 – 2024, (Million units) (USD Million)

5.3.2   Market estimates and forecast from small DC motors for automotive by region, 2013 – 2024, (Million units) (USD Million)

5.3.3   Air suspension motors

5.3.3.1   Market estimates and forecast from air suspension motors, 2013 – 2024, (Million units) (USD Million)

5.3.3.2   Market estimates and forecast from air suspension motors by region, 2013 – 2024, (Million units) (USD Million)

5.3.4   ABS motors

5.3.4.1   Market estimates and forecast from ABS motors, 2013 – 2024, (Million units) (USD Million)

5.3.4.2   Market estimates and forecast from ABS motors by region, 2013 – 2024, (Million units) (USD Million)

5.3.5   Vacuum pump motors

5.3.5.1   Market estimates and forecast from vacuum pump motors, 2013 – 2024, (Million units) (USD Million)

5.3.5.2   Market estimates and forecast from vacuum pump motors by region, 2013 – 2024, (Million units) (USD Million)

5.3.6   Fork lift actuation motors

5.3.6.1   Market estimates and forecast from fork lift actuation motors, 2013 – 2024, (Million units) (USD Million)

5.3.6.2   Market estimates and forecast from fork lift actuation motors by region, 2013 – 2024, (Million units) (USD Million)

5.3.7   Cooling fans & blower’s motors

5.3.7.1   Market estimates and forecast from cooling fans & blower’s motors, 2013 – 2024, (Million units) (USD Million)

5.3.7.2   Market estimates and forecast from cooling fans & blower’s motors by region, 2013 – 2024, (Million units) (USD Million)

5.4   Small DC motors for consumer goods & industrial applications

5.4.1   Market estimates and forecast from small DC motors for consumer goods & industrial applications, 2013 – 2024, (Million units) (USD Million)

5.4.2   Market estimates and forecast from small DC motors for consumer goods & industrial applications by region, 2013 – 2024, (Million units) (USD Million)

5.4.3   High voltage railway coach fan motor

5.4.3.1   Market estimates and forecast from high voltage railway coach fan motor, 2013 – 2024, (Million units) (USD Million)

5.4.3.2   Market estimates and forecast from high voltage railway coach fan motor by region, 2013 – 2024, (Million units) (USD Million)

5.4.4   Domestic ceiling fan motor for solar system

5.4.4.1   Market estimates and forecast from domestic ceiling fan motor for solar system, 2013 – 2024, (Million units) (USD Million)

5.4.4.2   Market estimates and forecast from domestic ceiling fan motor for solar system by region, 2013 – 2024, (Million units) (USD Million)

5.4.5   High voltage cooling fan motor

5.4.5.1   Market estimates and forecast from high voltage cooling fan motor, 2013 – 2024, (Million units) (USD Million)

5.4.5.2   Market estimates and forecast from high voltage cooling fan motor by region, 2013 – 2024, (Million units) (USD Million)

5.4.6   Motor for refrigerator compressor

5.4.6.1   Market estimates and forecast from motor for refrigerator compressor, 2013 – 2024, (Million units) (USD Million)

5.4.6.2   Market estimates and forecast from motor for refrigerator compressor by region, 2013 – 2024, (Million units) (USD Million)

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/electric-motors-marke

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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