Global Electric Motor Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Drivers:

Global electric motor market growth is driven by the growing demand for automation in the industries. Electric vehicle adoption has increased due to the government's considerable assistance through incentives and schemes, raising the demand for the electric motor.

The government has supportive policies for appliance efficiency and labeling programs due to the demand for an energy-efficient electric motor in end-user sectors. As countries such as South Africa, Mexico, Brazil, China, and India are undergoing urbanisation and industrialisation, there has been a rising demand for appliance ownership.

Definition and Applications:

Definition: Electric motor consist of electro-mechanical components that convert electrical energy into rotational mechanical energy to provide rotary motion to drive machinery and equipment. 

The motor consists of components such as rotor, stator, bearing, bracket, and lead wire. 

Electric motors are classified into two categories based on the input current: AC motors and DC motors. The AC motor runs on alternating current, while the DC motor runs on direct current.

The AC motor is further classified into the synchronous motor and asynchronous motor (induction ac motor). The DC motor is classified into brushed dc motor and brushless dc motor.

Applications: The main application of electric motors is to power machinery. Electric motors have several applications, ranging from the smallest in electric watches, electric toothbrushes, hard disk drives, and medium household appliances such as vacuum cleaners and fans, and the largest are water pumps, cranes, ship propulsion, etc.

Electric motors are used in multiple industries such as transportation, automation, aviation, construction, industrial manufacturing equipment, food, and beverage industry, electronics, home appliances, and medical equipment.

As per the International Energy Agency (IEA), industrial motor systems, lighting, refrigerators, and air conditioners together account for over 40% of global electricity demand and over 5 billion tonnes of global CO2 emissions a year.

Using electric motors with the maximum energy efficiency can thus play a critical role in limiting global energy consumption and lowering CO2 emissions. It can increase the performance of industrial machinery and reduce energy expenditures while simultaneously having a beneficial environmental impact. This has led the government to act by setting mandatory energy-efficient motor standards.

Restraints:

• Increasingly competitive global electric motor market. 
• Economic changes in global markets of developing countries due to Covid-19, but the recovery is continuing.

Recent Market Trends & Developments:

• In November 2021, at the United Nations Climate Change Conference 2021 (or COP26), the 14 SEAD member countries and its partners have launched the COP26 Product Efficiency Call to Action https://superefficient.org/cop26-call-to-action , to double the efficiency of four priority appliances that together account for over 40% of global electricity demand – Industrial motor systems, lighting, refrigerators, and air conditioners.
• In July 2020, the United Kingdom government had set out GBP 350 million package to fuel green recovery and cut emissions from heavy industry. The government has opened bids for a further £10million to help companies towards R&D of electric motors and batteries.
• Brazil implemented new minimum energy performance standards (MEPS) for motors. The standard came into force in August 2019 and requires induction motors from 0.2 kW to 370 kW to reach IE3 levels (the International Electrotechnical Commission classifies motor efficiency from low (IE1) to super-premium (IE4). 
• Regulation (EU) 2019/1781, issued by the European Union in July 2021, expanded the scope of its regulation on electric motors and variable speed drives, requiring IE3 levels for motors with output power from 0.75 kW to 1 000 kW, and IE4 levels for motors with output power between 75 kW and 200 kW by July 2023.

Opportunities:

• Growing adoption of Electric vehicles (especially electric cars): Asia-Pacific (China, India, and Japan), Europe, and North America.
• Increasing demand for embedded intelligence and variable speed technology solutions.

Regional Analysis:

UK: Aviation sector

• Under the Green Aviation R&D Policy, the government of the UK has announced a total grant of GBP 84.6 million for three aerospace projects to unlock zero-emissions air travel by 2030.
• InCEPTion (Integrated Flight Control, Energy Storage and Propulsion Technologies for Electric Aircraft), led by Blue Bear Systems Research, is receiving GBP 2.8 million to develop a fully electrified zero-emissions propulsion system for aircraft, which could eventually be used for a "taxi-like" aircraft service within the same city.
• Today's modern aircraft are 85% more efficient than the early jet planes that entered service in the 1960s and 20% more efficient than the versions they are replacing, thanks to continuous engine and airframe advances.
• As a long-term decarbonising solution, more efficient jet engines are expected over a blended wing body design to battery-electric and hydrogen-powered aircraft.
• Companies are completing many hours of rigorous and comprehensive flight-testing programs to ensure safety and high performance for their electric aircraft.
• Airbus is developing the Vahana and CityAirbus, advancing electric vertical take-off and landing (eVTOL) flight ideally suited for intra-city transport.

Blackridge Research's Global Electric motor market report provides insights into the current global and regional Global market demand scenario and its outlook.

This study offers a detailed analysis of various factors instrumental in affecting the Global Electric Motor market's growth. The study also comprehensively analyses the market based on the type of power supply (AC motor and DC motor), the voltage (low, medium, and high), the rated power (fractional horsepower motors and integral horsepower motors), and the geography (North America, Europe, Asia-Pacific, and the Rest of the world).

This report also includes the latest market trends, drivers and restraints, present and future opportunities, new projects, the global impact of Covid-19 on the Global Electric Motor market, and significant developments.

Further, the report will also provide Global Electric Motor market size, demand market forecast, and key competitors in the market.