An Incisive, In-depth Analysis on the Electric Motor Market
This study offers a comprehensive, 360 degree analysis on the Electric Motor market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Electric Motor market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Key Factors Shaping Electric Motors Market
Increasing Number of Mergers & Acquisitions by Leading Players
- Surge in mergers and acquisitions by leading players or manufacturers in the electric motors market over the last few years has driven the global market growth. Ongoing market consolidation can be primarily attributed to the increasing demand for organizational efficiency, product innovation, technological advancements and market expansion. Large-scale industries acquire small-scale industries to increase their market presence and expand their business. Over the years, owing to several acquisitions, the electric motor industry has evolved.
- For instance, some of the prominent acquisitions are:
- In 2019, Bosch completely acquired EM-motive, an electric motor manufacturer.
- In 2018, WEG S.A. acquired Antriebstechnik KATT Hessen GmbH, a manufacturer of high-speed motors.
- In 2017, Nidec acquired the electric motor business of Emerson Electric Company.
- In 2017, WEG acquired Bluffton Motor Works LLC, an electric motor manufacturer.
New Developments Diversify Application
- Manufacturers are continuously focusing on R&D to develop new and effective electric motors to meet consumer demand. Increasing concerns, such as environmental pollution and regulations, are forcing manufacturers to develop electric motors that reduce vibration and increase efficiency. For example: A synchronous electric motor is around 80% more efficient than an induction electric motor.
- Another example can be the development of a new type of steel for electric motors, which reduces the weight of the electric motor and makes it more efficient and powerful. This new type of electric motor will be small in size and cost effective, which will raise demand from residential and commercial applications.
- For instance, in June 2017, Arc Systems Inc. developed the squirrel cage induction electric motor with class-H insulation materials, which can sustain high temperature.
Regulations Focused on Minimizing Energy Consumption
- About 2/5 of the total energy used in industries is consumed to drive electric motors, mostly to power equipment such as industrial pumps, compressors etc. A favorable regulatory environment will be promoting the use of high-efficiency electric motors. Stringent regulations will compel industries to replace existing electric motors and use motors with high efficiency, which in turn, will drive market growth.
- The Minimum Energy Performance Standard (MEPS) set by the European Commission mandates minimum efficiency standard for industrial electric motors. The legislation has been imposed in three stages. According to the third stage of EU MEPS, IE3 is the minimum efficiency class required for three-phase induction motors (in the range of 0.75-7.5 kW) and IE2 motors can be used but with a variable speed drive.
- Similarly, Greenhouse and Energy Minimum Standards (GEMS) Act 2012 creates framework for electric product efficiency in Australia.
Electric Motors Market Structure Analysis
- The electric motors market landscape is highly fragmented with a large number of big, small-scale, and regional players in the market.
- Over the last few years, there are manufacturers who offer intelligent electric motors and export them to developing regions.
- The global electric motors market has been witnessing an increase in the number of acquisitions and collaborations, product launches, and investments in new manufacturing facilities by leading manufacturers to complement their business model and strengthen their footprint in regional markets.
- In recent times, the competition in the global market has become intense, which is leading to creation of opportunities for collaboration with sales and distributor companies.
- Such activities will help enhance market presence of leading players and drive the sales of electric motors.
- Many China-based players are offering low-cost electric motors, which are supporting sales in the Asian region, but negatively affecting the growth in market share of players from the U.S., the U.K., Germany, France, and Italy.
- Online sales platforms and portfolio extension are also identified to remain key developmental strategies adopted by manufacturers of electric motors.
FAQ About the Electric Motor Market
How is the electric motors market expected to grow during the forecast period?
Electric motors continue to dominate the market due to the adoption of IoT-enabled electric motors and smart motors in industrial activities for energy efficiency and performance monitoring. Technological upgradation among end users will increase the adoption of electric motors. The existence and preference for diesel motors over electric motors in developing economies, and replacement rate of industrial assets will be the key factors influencing revenue growth.
Which application area holds potential growth opportunities for market players?
While the industrial segment remains dominant in terms of revenue, higher potential impact can be driven from automotive & transportation sector. Continuous innovation in electric motors such as the new axial flux motor, which is pace-saving, failsafe, and energy-efficient, will drive the adoption of electric motors. Mergers & acquisitions will remain the key influential growth strategies, which will result in increased market share.
What is the degree of competition in the electric motors market?
The electric motors market shows a perfect competition structure, with a large number of multi-national, regional, and local market players. The manufacturers from western countries such as the U.S, Germany and Italy are targeting towards new manufacturing facilities in ASEAN countries to enhance their market presence. In the current scenario, industry leaders such as Nidec Corporation, General Electric, Siemens AG, ABB Group, WEG S.A, Emerson Electric Co., and Robert Bosch GmbH are targeting acquisitions of technology providers in the electric motors market.
Which region will lead the global sales of electric motors?
Asia Pacific Excluding Japan (APEJ) remains in the frontline of the electric motors market, with emergence of China and India as the world’s largest industrial and automotive markets. In the forecast period, it is expected that India, Brazil, China will pose significant growth momentum in the global electric motors market.
Electric Motors Market: Global Industry Analysis 2014-2018 & Opportunity Assessment 2019-2028
A recent market study published by FMI on the electric motors market includes the global industry analysis 2014-2018 & opportunity assessment 2019-2028, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the electric motors market, the growth prospects of the market are obtained with maximum precision.
Electric Motors Market: Taxonomy
The global electric motors market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Chapter 01 – Executive Summary
The report initiates with the executive summary of the electric motors market, which includes a summary of the key findings and statistics, along with demand & supply-side trends pertaining to the electric motors market.
Chapter 02 – Market Overview
In this chapter, readers can find the definition and a detailed taxonomy of the electric motors market, which will help them understand the basic information about the electric motors market. Along with this, comprehensive information about the electric motors and its properties are provided in this section.
Chapter 03 – Key Market Trends
The electric motors market report provides key market trends that are expected to significantly impact the market growth during the forecast period.
Chapter 04 – Key Success Factors
This section includes the factors that have emerged as key successful factors and strategies adopted by key market participants.
Chapter 05 – Global Electric Motors Market Demand Analysis 2014-2018 & Opportunity Assessment 2019-2028
This section explains the global market value analysis and forecast for the electric motors market in the forecast period 2019-2028. This chapter includes a detailed analysis of the historical electric motors market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2028).
Chapter 06 – Market Background
This chapter explains the key macro-economic factors that are expected to influence the growth of the electric motors market during the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis for the electric motors market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the section.
Chapter 07 – Global Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028, by Power Output
The market is segmented based on the power output into three segments - less than 1 HP, 1-500 HP, and above 500 HP.
Chapter 08 – Global Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028, by Product Type
The market is segmented into AC and DC motors. AC motors segment is further sub-segmented into induction motors and synchronous motors. DC motors is further sub-segmented into brushed DC motors and brushless DC motors.
Chapter 10 – Global Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028, by Application
The market is segmented based on application into pumps, fans, compressors, general machinery, centrifugal machinery, grinders, extruders, and others.
Chapter 11 – Global Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028, by End User
The market is segmented based on the end user into industrial (oil & gas, food & beverages, manufacturing, chemical treatment plants, and others), residential, commercial, and automotive & transportation.
Chapter 12 – Global Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028, by Region
This chapter explains how the electric motors market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), the Middle East and Africa (MEA), and Japan.
Chapter 13 – North America Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028
This chapter includes a detailed analysis of the growth of the North America electric motors market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis and market growth.
Chapter 14 – Latin America Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028
This chapter provides the growth scenario of the electric motors market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America along with targeted segments.
Chapter 15 – Western Europe Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028
Important growth prospects of the electric motors market based on its operators and end users in several countries such as Germany, Italy, France, the U.K., Spain, BENELUX, and Rest of Western Europe are included in this chapter.
Chapter 16 – Eastern Europe Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028
In this chapter Poland, Russia and Rest of Eastern Europe are the prominent countries in the East Asia region that are the prime subjects of assessment to obtain the growth prospects of the East Asia electric motors market.
Chapter 17 – APEJ Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028
This chapter highlights the growth of the electric motors market in South Asia by focusing on China, India, Association of Southeast Asian Nations (ASEAN), Australia & New Zealand (ANZ), and Rest of APEJ.
Chapter 18 – Japan Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028
This chapter highlights the growth of the electric motors market in Japan.
Chapter 19 – MEA Electric Motors Market Analysis 2014-2018 & Opportunity Assessment 2019-2028
This chapter provides information about how the electric motors market will grow in major countries in the MEA region, such as GCC, North Africa, Turkey, Southern Africa, and the Rest of MEA, during the forecast period of 2019-2028.
Chapter 20 – Market Structure Analysis
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the electric motors market.
Chapter 21 – Competition Analysis
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the electric motors market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments.
Chapter 22 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the electric motors market report.
Chapter 23 – Research Methodology
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the electric motors market.
Sources and Primary Research Splits (%)