Electric motors market share for transportation sector is likely to exceed $20 billion by 2026 worldwide. Some of the leading companies providing these motors are Siemens, Hyosung, WEG, General Electric, ABB, Robert Bosch, Regal Beloit, Toshiba Allied Motion Technologies, Buhler Motor Gmbh and Shandong, among many others.

Growing innovative product demand in transport and enforcement of severe government policies and regulations concerning the environment are some factors influencing the electric motors market outlook for transportation sector. Government regulations stating the implementation of electric motorbikes and hybrid passenger cars will positively impact the European electric motors industry from transportation applications.

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Manufacturing firms in the transportation sector catering to the increasing demands of products and rising innovative enhancements in the automotive industrial products pertaining to customer requirements are driving the electric motors market sales for transportation sector. Varying industrial demands of electrical steel sheet used as the core of traction motors for hybrid electric vehicles is a factor affecting the product development.

However, the COVID-19 pandemic has caused a steep drop in product consumption across the transport industry. The sector is considered as one of the most badly hit business areas during this pandemic and is currently experiencing a steep descent in growth. Analysts predict that COVID-19 might have a long-term impact on the travel behavior of people worldwide. 

The electric motors market in transportation sector can be bifurcated into traction motors, small motors for consumer goods and industrial applications, and small motors for automotive based on motors. Traction motors are extensively employed in two-wheelers, trains and ATV’s for superior efficiency, enhanced reliability and low energy consumption in multiple applications, and the segment is anticipated to achieve a CAGR of over 6.5% through 2026.

Electric motors market in transportation sector is fragmented on end use into OEMs and aftermarket. On comparison, OEMs largely influence the electric motor industry and are anticipated to hold 80% of the total global market share in the fore coming years for their extensive use in various applications like traction motors in manufacturing of electric vehicles and use of high-voltage cooling fan motor and HVAC compressors.

The OEMs are automobile, railways, aircraft or other equipment manufacturers utilizing electric motors in their products. The electric motors aftermarket segment in the transport sector can be recognized as a dominant and secondary area for distinct applications of manufacturing, distribution, and installations of the product. Both the OEMs and aftermarket segments are predicted to considerably impact the overall industry growth value.

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Partial Chapter of the Table of Content

Charts & Figures

FIG. 1   Innovation insights

FIG. 2   Electric Motors Market segmentation

FIG. 3   Industry landscape

FIG. 4   Industry ecosystem analysis

FIG. 5   Material cost

FIG. 6   Manufacturer cost

FIG. 7   Pricing analysis, By motor

FIG. 8   Pricing analysis, By motor

FIG. 9   Pricing analysis, By motor

FIG. 10 Pricing analysis, By motor

FIG. 11 Pricing analysis, By motor

FIG. 12 Standard methods of cost accounting for standard rulemaking

FIG. 13 Automobile and supplier export (USD Billions)

FIG. 14 Share of total EV registrations

FIG. 15 New EV/PHEV registrations

FIG. 16 Electric vehicles market shares by region, 2019

FIG. 17 Electric two wheelers market share by region, 2019

FIG. 18 Hybrid electric vehicles market share by region, 2019

FIG. 19 Electric Vehicle Production Statistics (2016-2026)

FIG. 20 Electric Vehicle Production Statistics (2016-2026)

FIG. 21 Growth potential analysis

FIG. 22 Porter’s analysis

FIG. 23 PESTEL analysis

FIG. 24 Electric Motors Market share analysis, 2019

FIG. 25 U.S. exports of electric motors in 2015

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