Electric Motors Market: Growth Strategies, Rising Trends and Revenue Analysis To 2026

The Electric Motors Market is set to observe growth rate of over 4.6% till 2026. Shifting trends toward renewable energy alternatives coupled with increasing presence of electric motor manufacturers with large scale production capabilities could enhance business outlook over the forthcoming years.

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The electric motors market is expected to gain traction in the transportation sector given to growing concerns over climatic change and carbon emissions. Numerous countries over the world are imposing strict policies and c to promote the adoption of sustainable transportation alternatives that have a minimum impact over the environment.

Small DC motors for vehicles include the motors utilized for antilock braking system (ABS), air suspension, vacuum pumps, cooling fans & blowers’ motion and forklift actuation. Additionally, small DC motors that are deployed in railway and aerospace applications include low voltage motor, high voltage motor, HVAC compressor motors and cooling motors. The specific use of the motors for various purposes will escalate the electric motors industry forecast.

The electric motors industry in transportation sector can be bifurcated into traction motors, small motors for consumer goods and industrial applications, and small motors for automotive based on motors. Traction motors are extensively employed in two-wheelers, trains and ATV’s for superior efficiency, enhanced reliability and low energy consumption in multiple applications, and the segment is anticipated to achieve a CAGR of over 6.5% through 2026.

However, the COVID-19 pandemic has caused a steep drop in product consumption across the transport industry. The sector is considered as one of the most badly hit business areas during this pandemic and is currently experiencing a steep descent in growth. Analysts predict that COVID-19 might have a long-term impact on the travel behavior of people worldwide.

Electric motors market in transportation sector is fragmented on end use into OEMs and aftermarket. On comparison, OEMs largely influence the electric motor industry and are anticipated to hold 80% of the total global market share in the fore coming years for their extensive use in various applications like traction motors in manufacturing of electric vehicles and use of high-voltage cooling fan motor and HVAC compressors.

The OEMs are automobile, railways, aircraft or other equipment manufacturers utilizing electric motors in their products. The electric motors aftermarket segment in the transport sector can be recognized as a dominant and secondary area for distinct applications of manufacturing, distribution, and installations of the product. Both the OEMs and aftermarket segments are predicted to considerably impact the overall industry growth value.

Prominent industry players like Siemens, Hyosung, WEG, Robert Bosch, Regal Beloit, ABB, Buhler Motor Gmbh, Toshiba, General Electric, Allied Motion Technologies, and Shandong are constantly focusing on developing their product offering and production capacities to expand their market share.

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Some Point from Table of Contents:

Data Tables

TABLE 1. Electric motors industry 3600 synopsis, 2016 – 2026

TABLE 2. Electric motors market in transportation sector estimates and forecast, 2016 – 2019, (Million units) (USD Million)

TABLE 3. Electric motors industry in transportation sector estimates and forecast, 2020 - 2026, (Million units) (USD Million)

TABLE 4. Comparison of motor by type

TABLE 5. Electric motors industry in transportation sector volume estimates and forecast by motors, 2016 – 2019 (Million units)

TABLE 6. Electric motors market in transportation sector volume estimates and forecast by motors, 2020 - 2026 (Million units)

TABLE 7. Electric motors industry in transportation sector revenue estimates and forecast by motors, 2016 – 2019 (USD Million)

TABLE 8. Electric motors industry in transportation sector revenue estimates and forecast by motors, 2020 - 2026 (USD Million)

TABLE 9. Electric motors market in transportation sector volume estimates and forecast by end-use, 2016 – 2019 (Million units)

TABLE 10. Electric motors industry in transportation sector volume estimates and forecast by end-use, 2020 - 2026 (Million units)

TABLE 11. Electric motors market in transportation sector revenue estimates and forecast by end-use, 2016 – 2019 (USD Million)

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Brows Related News:

https://www.marketwatch.com/press-release/europe-e-commerce-automotive-aftermarket-future-scope-revenue-growth-opportunity-to-2026-2022-04-04

https://www.marketwatch.com/press-release/asia-pacific-e-commerce-automotive-aftermarket-analysis-to-2026-industry-growth-business-statistics-report-2022-04-04