Study #: W1002 | Published: 06/2019 | Pages: 149 | Individual User License: US$ 5,400

Global demand for electric motors is projected to increase 5.7% per year to $147.7 billion in 2023. Electric motors are key components in many durable goods, and – as manufacturing output rises – sales of electric motors will follow.

Key Findings in the Global Electric Motors Study:

Key Geographic Trends Through 2023

  • In the mature motor markets of the US and Western Europe, growth in electric motor demand will be moderate. However, strong sales opportunities will arise in the production of hybrid and electric vehicles in Europe and of energy-efficient heating and cooling equipment in the US.
  • In nations where electric motor markets are still developing, sales will be fueled by rapidly growing durable goods manufacturing and the increasing ability of the average consumer to purchase items like heating and cooling equipment and household appliances.
  • China will be the largest source of market growth through 2023, with electric motor demand expected to climb more than 8.0% annually, accounting for 65% of all additional sales globally.
  • China will be the largest market for electric motors in 2023, accounting for approximately half of global demand, and product sales there will be greater than in Japan, North America, and Western Europe combined. Sales will be stimulated by rapidly expanding production of a number of durable goods – including aerospace equipment, heating and cooling equipment, household appliances, machinery, and motor vehicles.
  • India will register the fastest growth between 2018 and 2023, growing at an annual rate of 9.2%.

Key Product and Market Trends Through 2023

  • Demand for AC motors is expected to grow 7.0% annually through 2023, supported by favorable production outlooks for heating and cooling equipment, household appliances, and machinery, the three major applications for these products.
  • Opportunities for DC motors – which are used extensively in automotive applications – will arise from strengthening motor vehicle output. However, an ongoing shift toward HEVs will provide better opportunities for AC motors.
  • Demand for electric motors used in machinery is projected to register the fastest gains through 2023, boosted by increasing industrial output.
  • Growth in demand for electric motors in the aerospace market will be aided by continuous research and development aimed at improving current systems by reducing size, weight, and power, plus cost (SWaP-C).

Study Coverage

This Freedonia industry study analyzes the $112 billion global electric motors market. It presents historical demand data (2008, 2013, and 2018) and forecasts for 2023 by product (alternating current, direct current) and market (motor vehicles, heating and cooling equipment, household appliances, machinery). The study also evaluates company market share and analyzes selected industry competitors including ABB, Bosch, DENSO, Mabuchi Motors, Mitsubishi Electric, Nidec, Panasonic, Regal Beloit, and Siemens.


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Table of Contents

1. Market Brief

2. Global Market Overview

Demand by Region

Technological Trends

Energy Efficiency

Quieter Operation

Customization

Power-to-Weight Ratios

Legal & Regulatory Environment

Products

Demand by Product

Alternating Current (AC)

Direct Current (DC)

Markets

Demand by Market

Motor Vehicles

Heating & Cooling Equipment

Household Appliances

Machinery

Other Markets

3. North America

North America: Electric Motor Market Size & Environment

North America: Electric Motor Demand by Product & Market

United States

Mexico

Canada

4. Central & South America

Central & South America: Electric Motor Market Size & Environment

Central & South America: Electric Motor Demand by Product & Market

Brazil

Other Central & South America

5. Western Europe

Western Europe: Electric Motor Market Size & Environment

Western Europe: Electric Motor Demand by Product & Market

Germany

Italy

United Kingdom

Spain

France

Other Western Europe

6. Eastern Europe

Eastern Europe: Electric Motor Market Size & Environment

Eastern Europe: Electric Motor Demand by Product & Market

Russia

Other Eastern Europe

7. Asia/Pacific

Asia/Pacific: Electric Motor Market Size & Environment

Asia/Pacific: Electric Motor Demand by Product & Market

China

Japan

South Korea

India

Thailand

Other Asia/Pacific

8. Africa/Mideast

Africa/Mideast: Electric Motor Market Size & Environment

Africa/Mideast: Electric Motor Demand by Product & Market

Turkey

Other Africa/Mideast

9. Industry Structure

Key Findings & Industry Composition

Market Share

Mergers & Acquisitions

10. Appendix

Scope

Definitions

Abbreviations

Methodology

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions


List of Tables

2. Global Market Overview

Table 2-1 | Global Electric Motor Demand by Region, 2008 - 2023 (million dollars)

Table 2-2 | Global Electric Motor Demand by Product, 2008 - 2023 (million dollars)

Table 2-3 | Global Alternating Current (AC) Electric Motor Demand by Horsepower Type & Region, 2008 - 2023 (million dollars)

Table 2-4 | Global Direct Current (DC) Electric Motor Demand by Horsepower Type & Region, 2008 - 2023 (million dollars)

Table 2-5 | Global Electric Motor Demand by Market, 2008 - 2023 (million dollars)

Table 2-6 | Global Motor Vehicle Electric Motor Demand by Region, 2008 - 2023 (million dollars)

Table 2-7 | Global Heating & Cooling Equipment Electric Motor Demand by Region, 2008 - 2023 (million dollars)

Table 2-8 | Global Household Appliance Electric Motor Demand by Region, 2008 - 2023 (million dollars)

Table 2-9 | Global Machinery Electric Motor Demand by Region, 2008 - 2023 (million dollars)

Table 2-10 | Global Other Markets Electric Motor Demand by Region, 2008 - 2023 (million dollars)

3. North America

Table 3-1 | North America: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 3-2 | United States: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 3-3 | Mexico: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 3-4 | Canada: Electric Motor Demand by Product & Market, 2008 - 2023 (million US dollars)

4. Central & South America

Table 4-1 | Central & South America: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 4-2 | Brazil: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 4-3 | Other Central & South America: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

5. Western Europe

Table 5-1 | Western Europe: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-2 | Germany: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-3 | Italy: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-4 | United Kingdom: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-5 | Spain: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-6 | France: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 5-7 | Other Western Europe: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

6. Eastern Europe

Table 6-1 | Eastern Europe: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 6-2 | Russia: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 6-3 | Other Eastern Europe: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

7. Asia/Pacific

Table 7-1 | Asia/Pacific: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 7-2 | China: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 7-3 | Japan: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 7-4 | South Korea: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 7-5 | India: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 7-6 | Thailand: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 7-7 | Other Asia/Pacific: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

8. Africa/Mideast

Table 8-1 | Africa/Mideast: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 8-2 | Turkey: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

Table 8-3 | Other Africa/Mideast: Electric Motor Demand by Product & Market, 2008 - 2023 (million dollars)

9. Industry Structure

Table 9-1 | Global Electric Motor Sales by Company, 2018 (million dollars)

Table 9-2 | Selected Mergers & Acquisitions

10. Appendix

Table 10-1 | Relevant HS Codes

Table 10-2 | Relevant NAICS & SIC Codes

Table 10-3 | Relevant NACE Codes

Table 10-4 | Abbreviations & Acronyms Used in This Report

Table 10-5 | Countries in North America

Table 10-6 | Countries in Central & South America

Table 10-7 | Countries in Western Europe

Table 10-8 | Countries in Eastern Europe

Table 10-9 | Countries in the Asia/Pacific Region

Table 10-10 | Countries in the Africa/Mideast Region

Table 10-11 | Global Gross Domestic Product by Region & Country, 2008 - 2023 (billion 2017 dollars)

Table 10-12 | Global Manufacturing Value Added by Region & Country, 2008 - 2023 (billion 2017 dollars)


List of Figures

1. Market Brief

Figure 1-1 | Global Electric Motors Market

2. Global Market Overview

Figure 2-1 | Global Electric Motor Demand by Region, 2018 (billion dollars)

Figure 2-2 | Global Electric Motor Demand Share by Product, 2008 - 2023 (million dollars)

Figure 2-3 | Global Electric Motor Demand Share by Market, 2018 (billion dollars)

Figure 2-4 | Global Motor Vehicle Electric Motor Demand Share by Region, 2018 (billion dollars)

Figure 2-5 | Global Heating & Cooling Equipment Electric Motor Demand Share by Region, 2018 (billion dollars)

Figure 2-6 | Global Household Appliance Electric Motor Demand Share by Region, 2018 (billion dollars)

Figure 2-7 | Global Machinery Electric Motor Demand Share by Region, 2018 (billion dollars)

3. North America

Figure 3-1 | North America: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 3-2 | North America: Electric Motor Demand Share by Country, 2018 (billion dollars)

Figure 3-3 | United States: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 3-4 | Mexico: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 3-5 | Canada: Electric Motor Demand, 2004 - 2018 (million dollars)

4. Central & South America

Figure 4-1 | Central & South America: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 4-2 | Brazil: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 4-3 | Other Central & South America: Electric Motor Demand, 2004 - 2018 (million dollars)

5. Western Europe

Figure 5-1 | Western Europe: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 5-2 | Western Europe: Electric Motor Demand Share by Country, 2018 (billion dollars)

Figure 5-3 | Germany: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 5-4 | Italy: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 5-5 | United Kingdom: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 5-6 | Spain: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 5-7 | France: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 5-8 | Other Western Europe: Electric Motor Demand, 2004 - 2018 (million dollars)

6. Eastern Europe

Figure 6-1 | Eastern Europe: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 6-2 | Russia: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 6-3 | Other Eastern Europe: Electric Motor Demand, 2004 - 2018 (million dollars)

7. Asia/Pacific

Figure 7-1 | Asia/Pacific: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 7-2 | Asia/Pacific: Electric Motor Demand Share by Country, 2018 (billion dollars)

Figure 7-3 | China: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 7-4 | Japan: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 7-5 | South Korea: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 7-6 | India: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 7-7 | Thailand: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 7-8 | Other Asia/Pacific: Electric Motor Demand, 2004 - 2018 (million dollars)

8. Africa/Mideast

Figure 8-1 | Africa/Mideast: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 8-2 | Turkey: Electric Motor Demand, 2004 - 2018 (million dollars)

Figure 8-3 | Other Africa/Mideast: Electric Motor Demand, 2004 - 2018 (million dollars)

9. Industry Structure

Figure 9-1 | Global Electric Motor Market Share by Company, 2018 (billion dollars)

10. Appendix


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