A new Freedonia Group analysis finds that global demand growth for alternating current (AC) electric motors will accelerate through 2023, outpacing gains for direct current (DC) types. While integral horsepower AC motors are to expand at the faster pace, fractional horsepower types will continue to account for a higher volume of AC motor sales, with gains overall fueled by:
- increasing shipments of products that use these components, such as heating and cooling equipment, household appliances, and machinery
- expanding production of HEVs
- government regulations requiring higher-efficiency motors
The study page is here: https://www.freedoniagroup.com/industry-study/global-electric-motors-W1002.htm
Direct current electric motor producers mitigate losses
Despite strong anticipated annual growth through 2023, DC electric motors will continue to lose global market share to AC types, in part due to competition from AC motors with integrated electronic controls. Mitigating losses, however:
- DC motors incorporate increasingly more plastic, reducing costs and enhancing flexibility of design. These motors find use in computer fans, where the housing and blades can be made completely of plastic.
- Despite their higher cost and maintenance requirements, brushless DC motors have supplanted AC models in certain instances due to their better performance characteristics.
Central & South America strays from global trend
Contrary to the global trend, demand for DC electric motors in Central and South America is expected to advance at a slightly faster rate than AC types through 2023. Factors influencing this divergence from the norm include regional increases in:
- production of heating and cooling equipment, driven by rising building construction activity
- motor vehicle output (both conventional and electric types)
- foreign investment by electric motor producers such as GM
Looking for more insight?
The Freedonia Group’s new Global Electric Motors study provides a comprehensive view of the global electric motor market, including data analysis of historical demand trends and forecasts through 2023 by product, market, global region, and major national market. In addition, the study includes in-depth profiles of industry leaders, including market share by company, among other relevant topics.