Electric Motor Market Trends, Demand and Business Opportunities 2026

According to the latest report by IMARC Group, titled “Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global electric motor market reached a value of US$ 108.3 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during the next five years.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Electric motors refer to electro-mechanical devices that function on the principle of electromagnetic induction. They are characterized by long operating life, low maintenance, and high endurance for fluctuating voltages. They also require low energy consumption and are relatively affordable when compared to fossil-fuel engines. Consequently, they are widely utilized as essential components for manufacturing automobiles, home appliances and industrial machinery across various sectors.

The global market is primarily driven by significant growth in the automotive sector. This, coupled with the numerous initiatives undertaken by the governments of various countries to promote the adoption of electric vehicles, is providing an impetus to the market growth. Moreover, the widespread adoption of industrial automation and rapid advancements in technology are also creating a positive outlook for the market. The market is further driven by an enhanced focus on sustainable development, which has contributed to a rise in the uptake of electric motors for diverse application segments. Some of the other factors propelling the market growth include rapid industrialization and increasing sales of home appliances.

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Electric Motor Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the global electric motor market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• ABB Group

• Siemens Ag

• WEG SA

• TECO

• Regal Beloit Corporation

• Nidec Corporation

Key Market Segmentation:

The report has segmented the global electric motor market on the basis of type, voltage, type, rated power, fractional horsepower, integral horsepower, magnet type, region, weight, speed, and applications.

Performance by Type:

• AC Motor

• DC Motor

• Others

Performance by Voltage:

• Low Voltage Electric Motors

• Medium Voltage Electric Motors

• High Voltage Electric Motors

Performance by Rated Power:

• Fractional Horsepower Motors

• Integral Horsepower Motors

Performance by Fractional Horsepower:

• Fractional Horsepower (< 1/8) Motors

• Fractional Horsepower (1/8 - 1/2) Motors

• Fractional Horsepower (1/2 - 1) Motors

Performance by Integral Horsepower:

• Integral Horsepower (1 - 5) Motors

• Integral Horsepower (10 - 50) Motors

• Integral Horsepower (50 - 100) Motors

• Integral Horsepower (>100) Motors

Performance by Magnet Type:

• Ferrite

• Neodymium (NdFeB)

• Samarium Cobalt (SmCo5 and Sm2Co17)

Performance by Region:

• Asia-Pacific

• North America

• Europe

• Middle East and Africa

• Latin America

Performance by Weight:

• Low Weight Motors

• Medium Weight Motors

• High Weight Motors

Performance by Speed:

• Ultra-High-Speed Motors

• High-Speed Motors

• Medium Speed Motors

• Low Speed Motors

Performance by Applications:

• Industrial Machinery

• HVAC

• Transportation

• Household Appliances

• Motor Vehicles

• Aerospace

• Marine

• Robotics

• Others

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Key highlights of the report:

• Market Performance (2015-2020)

• Market Outlook (2021-2026)

• Industry Trends

• Market Drivers and Success Factors

• The Impact of COVID-19 on the Global Market

• Value Chain Analysis

• Structure of the Global Market

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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