Electric Motors Market

Electric Motors Market Outlook & Key Findings

• The global electric motors market is expected to grow at a CAGR of 4.8% during the forecast period (2020-2030)
• Higher efficiency motors (HEMS) with over a 1000 hours of operational service per year witnessing higher demand in key end use applications
• The institution of Minimum Energy Performance Standards (MEPS) will pave way for use of electric motors and obviate issues related to low output efficiency and high consumption of energy
• Incentivization of electric motors with the use of Variable Frequency Drives (VFD) for conveyors, hoists and escalators can lead to greater cost savings in the electric motors market
• The use of electric motors in industrial applications account for ~70% of all industrial electricity consumption

Electric Motors Market Analysis – Modern Designs Bring Forth Energy Savings

Electric motors play a pivotal role in a wide range of industrial applications. The right type of electric motor is necessary for smoothness of operations and also prevents damage to equipment due to sudden voltage and power fluctuations.

The use of electric motors helps in accruing energy savings to the tune of 4%-5%. When combined with robust electromechanical solutions, these can further incur cost savings up to 20% and reduce overall electricity demand by another 10%-15%. This process can be expedited by the use of adjustable speed drives and energy efficient motors of the correct size.

Small is Effective

Globally, small-sized motors account for ~ 90% of all electric motors and are fast gaining popularity in smaller appliances, fans and pumps.

Many times, these are customized to enable successful integration into specific machines. Shunt-wound motor types with single-phase are the most common among small electric motors.

Around 70% of global energy consumption is accrued to the use of medium-size electric motors that are in the range of 0.75 Kw – 375 Kw. Mostly these are asynchronous AC electric motors  with shorter delivery lead times and account for around 10%  of motors that are used in industrial processing, fans, pumps and conveyors.

Larger electric motors account for ~ 23% of energy use and are mostly used in large-scale, major industrial applications. These are nuanced, tailor-made, and synchronous and assembled on site. These are manufactured in lesser quantities as per demand from various end users.

Electric Motors Market Regional Analysis – Asia Pacific and North America Remain Lucrative

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North America accounts for a significant chunk in the market in which US represents 40% of electric motors sales for industrial applications.

 In the US, there is a very high penetration rate for energy-efficient motors. The most efficient class IE3 range of electric motors have steadily gained traction over the years. US, Canada and Mexico cumulatively are slated to capture one-fourth of the electric motors market.

Cumulatively, both Europe and Japan are slated to be the top manufacturers of electric motors. Japan produces more than 20 million electric motors per year and this rate is expected to double through 2025. BRICS countries account for more than one-third of the global electric motors market.

Electric Motors Market Manufacturers – Electric Motors are finding their Niche in EVs

The electric motors market is moderately fragmented. Some of the top players in the market are Johnson Electric, Hitachi Ltd, Robert Bosch GmbH, Emerson Electric Co, WEG S.A, Siemens AG, General Electric and Nidec Corporation.

The market is also witnessing the aggressive proliferation of new-entrants who are gradually gaining market share with innovative technologies.

Last year, a Texas based start-up, Linear Labs in the US innovated on a new design in electric motors that helps to reduce complexity in powertrains while also reducing the size.

A sum of US$ 4.5 million was used to develop this nuanced technology. With this technology, the start-up managed to double the torque output of the powertrains. Further, no additional gear box was required and efficiency levels increased by about 20%.

Synchronous reluctance motors are gradually gathering favour with companies such as Nidec and John Deere. They are being used in excavators and are successfully overcoming issue such as noise and exorbitant costing that was previously associated with induction motors.

Another feat has been the penetration of electric motors in electric vehicles. Notably, Tesla has incorporated their use with reported efficiency levels of 97% from its previous models which reported efficiency levels of a mere 93%. The company is using magnetic reluctance motors in its semi-trucks at a much higher torque.

Electric Motors Market Trends – Continued Innovations to Ramp up Performance and Connectivity in Electric Motors

The electric motors landscape is witnessing a plethora of innovations with the advent of new applications in stepper motors, brushless motors and torque motors.

• Synchronous AC electric motors are seeing an uptick in a range of applications such as cranes, printing, conveyors and hoists and hub drives in AGVs
• Frameless electric motors are witnessing growing use in robot manufacturing as they are smaller and more precise. Cobots and AGVs for sorting and picking are using frameless motors in a big way. They are also the first choice for engineers  using them in several military applications
• Brushed DC motors are being re-engineered for unmanned aerial and ground vehicles that are needed to be used in extreme and harsh weather conditions
• AGV vehicles are seeing a spurt in the use of brushless DC motors. These motors have the provision of epicyclic gearboxes and a wheel assembly that helps it to be successfully mounted to a vehicle
• Mobile armoured doors on armoured cars and tanks are another new field that have seen the proliferation of electric motors. With their use the weight of any system used for actuating the armoured door is reduced and also helps to enhance efficiency

Electric Motors Market Consumption – Preference for AC Motors Remains Highly Intact

AC motors are garnering significant attention in various end use industries on back of their higher torque. By type, AC motors are set to capture a significant chunk of the market share. AC motors offer several advantages such as:

• Better durability and a longer life span
• High capability for configurations that have multi-phasing
• Lower power demand at the time of start-up that eventually protects components at the receiving end
• Some use variable frequency drive add-ons that exercise control on torque and speed at different stages of use

Electric Motors Market Future Outlook – How Material Advancements and Industry 4.0 are Boosting Motor Performance and Efficiency

IoT

The future outlook looks bright for the electric motor market landscape with the proliferation of Industry 4.0 technologies. The use of smart electric motors has gained rapid traction as they are helping to considerably reduce downtime while boosting efficiency levels.

IoT-enabled smart electric motors are coming fully equipped with sensors that monitor each functionality of the electric motor throughout its lifecycle.

For instance, in cases of motor heating, the sensors send out an alarm to the concerned person as a warning. Some also track time and give alerts for scheduled maintenance

Excessive vibrations within electric motors is one of the primary reasons for reduced lifespan of equipment. The use of IoT enabled technology monitors electric motors and equipment in real time and checks it for vibrations, temperature changes and energy usage.

Further, sensor technology also alerts technicians for safety and overall condition of electric motors thus preventing unwanted injuries to staff through manual inspections

Material Advancements

Advancements are also being made in materials used in electric motors. For instance, steel lamination and powder metallurgy are some of the prime materials that are traditionally being used in electric motors. Lately soft magnetic composite (SMC) material is gaining traction to be used along with rotor for maximum efficiency.

Hybrid materials offer myriad benefits. For instance the use of soft magnetic composite in conjunction with steel laminates. This gives prolific advantages of lower manufacturing costs (in case of steel) while giving good structural shape to the material with the use of SMC.

Magnets in the rotor too are using a sintered magnetic powder material along with SMC. This helps the electric motor to harness the power of powder metallurgy.

Engineers are also innovating to use high quality performance magnets in the motor for better torque and tire performance. Similarly, smaller metal components are utilizing iron which has been shrunk to very low densities so that the same can be doused in lubricating oil.