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Electric Motors Market: Electrification in Automotive Vehicles to Spearhead Growth

  • 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 the creation of opportunities for collaboration with sales and distributor companies.
  • Such activities will help enhance the 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 the 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.

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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, which can sustain high temperatures.

Regulations Focused on Minimizing Energy Consumption

  • About 2/5 of the total energy used in industries is consumed to drive electric motors. 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 a 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.

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Table Of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand & Supply Side Trends

    1.3. FMI Analysis and Recommendations

    1.4. Wheel of Fortune

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Key Market Trends

4. Key Success Factors

5. Global Electric Motors Market Demand Analysis 2015-2019 and Forecast, 2020-2030

    5.1. Historical Market Volume (‘000 Units) Analysis, 2015-2019

    5.2. Current and Future Market Volume (‘000 Units) Projections, 2020-2030

    5.3. Y-o-Y Growth Trend Analysis

6. Global Electric Motors Market - Pricing Analysis

    6.1. Regional Pricing Analysis By Power Output

    6.2. Pricing Break-up

7. Global Electric Motors Market Demand (in Value or US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030

    7.1. Historical Market Value (US$ Mn) Analysis, 2015-2019

    7.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030

Download Complete TOC Of this Report @ https://www.futuremarketinsights.com/toc/rep-gb-2404

About FMI

FMI is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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