Electric Motor Market Size, Share, 2021 Research Reports Business Structure, Competitive Landscape, Opportunity, and Key Regions 2030

In a recent published report, Kenneth Research has updated the market report for Electric Motor Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

According to the statistics by the Organization for Economic Co-operation and Development (OECD), the United States recorded to be the largest exporters of international trade in services amongst all the OECD nations with a value worth USD 827 billion in the year 2018.

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Global Electric Motor Market is estimated to reach $173 billion by 2024; growing at a CAGR of 5.7% from 2016 to 2024. Electric motors are driven by the magnetic force, which transforms electrical energy into mechanical energy. It is one of the biggest advancements in the field of technology and engineering. There are various types of motors developed for different purposes. Apart from basic types of motors, numerous types of motors have been developed with special features such as stepper motor, and linear induction motor (LIM), among others, designed as per the requirements of the industry. Motors have a wide variety of uses and are found in cars, hair dryers, fans, drills, clocks, fridges, water pumps, DVD players, washing machine and industrial equipment including mills, robots, extruders, and fork-lift trucks, among others.

Major drivers of the global electric motor market are growing automobile production, rise in adoption of electric vehicles, growing application of induction motors & electronic motors replacing gas turbines in industrial plants. However, fluctuation in the price of electronics in emerging economies and shortage of raw material may hamper the growth of the market. Additionally, rapid commercialization and urbanization, various on-going construction projects of mega cities & metro rails in emerging economies would provide opportunity in the upcoming years.

The global electric motor market is segmented based on the output power, type, application and geography. Output power segment is further bifurcated into FHP and IHP. By type segment, it is segmented into AC motor, DC motor and hermetic motor. Furthermore, application is segmented into motor vehicle, HVAC equipment, machinery, household appliances, aerospace, and commercial.

By geography, the global electric motor market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers U.K, Germany, Russia and others. Asia-Pacific covers China, India, Australia and others. Rest of the World (RoW) covers South America, Middle East and Africa.

Key players of electric motor market are Schneider Electric SE, Baldor Electric Company, Siemens AG, Kirloskar Electric Company, Denso Corporation, Bosch Group, Toshiba International Corporation, Rockwell Automation, General Electric Company and ABB Ltd.

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The key takeaways from the report
The report will provide detailed analysis of Electric Motor Market with respect to major segments such as output power, type and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Electric Motor market will be included in the report

Profile of key players of the Electric Motor market, will be provided, which include key financials, product & services, new developments, and business strategies

Scope of Electric Motor Market
Output Power Segments

Type Segments

AC Motor
DC Motor
Hermetic Motor
Application Segments

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Motor Vehicle
HVAC Equipment
Household Appliances
Geography Segments

North America
United Kingdom
South Korea
South America
Middle East

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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