Global Electric Motor Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights

The Global Electric Motor Market size was estimated at USD 165 billion in 2021 and is expected to reach USD 182 billion in 2022 and is anticipated to reach around USD 322 billion by 2030, growing at a CAGR of roughly 7% between 2022 and 2030.

Our research report offers a 4.5-degree view of the Electric Motor market's drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Electric Motor market.

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The Electric Motor Market: Overview

Compressors, pumps, automobiles, shop equipment, lathes, power tools, home appliances, and electric autos all contain electric motors. Despite their high price, these very effective motors are chosen over regular engines for various reasons, including their longer operational life, low energy consumption, low maintenance requirements, and excellent tolerance for voltage variations. In addition, the demand for high-efficiency motors is anticipated to rise due to the need for increased productivity and low power consumption in electric motor applications.

The Electric Motor Market: Growth Factors

HVAC systems ensure interior air quality while providing thermal comfort. Therefore, they are one of the critical components of modern infrastructures, particularly for enormous office or shopping complexes.

Due to ongoing growth in China and India's industrial and commercial sectors, the demand for HVAC systems is continuously increasing throughout the Asia Pacific. Additionally, HVAC systems are related to the construction sector because they will drive the global market in the upcoming ten years.

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The rising interest in vector manufacturing is reflected in the growing number of alliances or collaborations between the various organizations involved in this sector. Depending on the purpose, these alliances had a variety of objectives. Associations have been established for many different purposes, including producing vector promoters, constructing or purchasing manufacturing facilities, and out- or in-licensing of vector manufacturing technology.

The Electric Motor Market: Key Insights

• As per the analysis shared by our research analyst, the Electric Motor market is estimated to grow annually at a CAGR of around 7% over the forecast period (2022-2030).
• In terms of revenue, the Electric Motor market was valued at around USD 165 billion in 2021 and is projected to reach USD 322 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on type segmentation, the AC electric motor segment was estimated to hold the maximum market share in 2021.
• Based on the output, the above one hp motors segment was the top revenue-generating category in 2021.
• Based on rotor type segmentation, the inner rotor segment is projected to notice a high CAGR from 2022-2030.
• The industrial segment is anticipated to dominate the market based on end-user segmentation.
• Based on geography/region, the Asia Pacific region is anticipated to show a high CAGR during 2022-2030.

Press Release For Electric Motor Market: https://www.custommarketinsights.com/press-releases/electric-motor-market-size/

The Electric Motor Market: Regional Landscape

The largest electric motor market is anticipated to be in the Asia Pacific over the forecast period. China, India, South Korea, Japan, and the rest of Asia Pacific are all included in the Asia Pacific. The Asia Pacific region is rapidly industrializing, and as a result, all industries are moving toward internet-based operations.

The Electric Motor Market: Prominent Players

ABB Group
DENSO
ARC Systems Inc.
Siemens AG
General Electric
Asmo Co. Ltd.
Nidec Motor Corporation
Regal Beloit Corporation
WEG
Toshiba Corporation
Hitachi
Emerson Electric
Bosch
Johnson Electric Holdings Limited
Maxon Motors AG
Rockwell Automation Inc.
AMETEK Inc.

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The Electric Motor Market: Segments

By Type

AC
DC

By Output Power

>1HP

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This release was published on openPR.