Global Electric Motor Market 2022-2028
An electric motor is any of a class of devices that convert electrical energy to mechanical energy usually by employing electromagnetic phenomena. Electric motors can be powered by direct current (DC) sources, such as batteries or rectifiers. Or by alternating current (AC) sources, such as inverters, electric generators, or a power grid. Electric motors are incorporated in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, and automated robots. The Global Electric Motor Market size is projected to grow by USD 4.1 billion from 2022 to 2028, registering a CAGR of 3.1 percent.
The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global electric motor market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the electric motor industry.
This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the technology, power output, end user, and region. The global market for electric motor can be segmented by technology: direct current (DC) motor, alternating current (AC) motor, others. The AC motor segment held the largest revenue share in 2021. Electric motor market is further segmented by power output: fractional HP motors (less than 1HP), high voltage integral HP motors (greater than 500HP), low voltage integral HP motors (between 1HP - 500HP). Among these, the low voltage integral HP motors segment was accounted for the highest revenue generator in 2021. Based on end user, the electric motor market is segmented into: chemicals & petrochemicals, discrete industries, food & beverages, metal & mining, oil & gas, power generation, water treatment, others. The oil & gas segment captured the largest share of the market in 2021. On the basis of region, the electric motor market also can be divided into: North America, Asia Pacific, Europe, Rest of the World (ROW).
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Last Update : 14 April 2023 10:45 AM
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