UK markets closed
  • NIKKEI 225

    26,537.31
    +240.45 (+0.91%)
     
  • HANG SENG

    26,819.45
    +149.70 (+0.56%)
     
  • CRUDE OIL

    44.99
    -0.72 (-1.58%)
     
  • GOLD FUTURES

    1,808.50
    +3.00 (+0.17%)
     
  • DOW

    29,872.47
    -173.77 (-0.58%)
     
  • BTC-GBP

    12,295.17
    -1,139.76 (-8.48%)
     
  • CMC Crypto 200

    319.92
    -50.60 (-13.66%)
     
  • ^IXIC

    12,094.40
    +57.62 (+0.48%)
     
  • ^FTAS

    3,589.04
    -18.77 (-0.52%)
     

$169 Billion Electric Motor Market - Global Forecast to 2026: Leading Players are ABB, Siemens, Nidec, Wolong, and WEG

Research and Markets
·2-min read

Dublin, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The "Electric Motor Market - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The electric motor market is expected to grow from an estimated USD 113.3 billion in 2020 to USD 169.1 billion by 2026, at a CAGR of 6.9% during the forecast period.

Increased demand for HVAC systems in residential, commercial, and industrial end-users in the Middle East and Asia Pacific regions along with growing use of electric motors across major industries such as oil & gas, chemicals (compressors & pumps), power & energy, metals & mining (rolling mills, hoists, blowers, and processing lines), paper & pulp (grinders, chippers, and refiners), wastewater, marine, automotive, and power utilities (pumps & condensers.

However, Due to the COVID-19 pandemic, local currencies of many countries have depreciated. There is misalignment of supply and demand, leading to financial losses for components/parts manufacturers. Key components used in manufacturing electric motors are typically procured in US dollars, which results in increased component cost which is likely to hamper the growth of the electric motor market.

The electric motor market is dominated by a few major players that have an extensive regional presence. The leading players in the electric motor market are ABB (Switzerland), Siemens (Germany), Nidec Corporation (Japan), Wolong (China), and WEG (Brazil).

Market Dynamics

Drivers

  • Increased Demand for Hvac Systems Among Residential, Commercial, and Industrial End-users

  • Growing Use of Electric Motors Across Major Industries

  • Rising Demand for Energy-Efficient and Low-Cost Maintenance Motors

Restraints

  • Fluctuating Prices of Raw Material from China

Opportunities

  • Transition of Global Automotive Industry Toward Electric Vehicles

  • Emerging Robotics Technology Will Increase Demand for Electric Motors

Challenges

  • Easy Availability of Low-Quality and Inexpensive Electric Motors

  • Shortage of Components and Parts Due to COVID-19 Leading to Higher Product Cost

Yc Shift

  • Revenue Shift & New Revenue Pockets for Electric Vehicle Manufacturers

Average Selling Price Trend

Ecosystem Market Map

Value Chain Analysis

Technology Analysis

Case Study Analysis

  • Electric Motors for Aircraft

  • Parker Used Ametek's Hydraulic Pump Motor for the US Airforce's Next Generation T-X Jet Trainer Aircraft

  • Cost Effective Meps (Minimum Energy Performance Standard) Levels for Motors

  • The Energy Research Centre of the Netherlands Developed a Market Transformation Program for Indonesia

Companies Mentioned

  • ABB

  • ARC Systems

  • Allied Motion Technologies

  • Ametek

  • Brook Crompton

  • Buhler Motor

  • Faulhaber Group

  • Hitachi

  • Hyosung Heavy Industries

  • Johnson Electric

  • Maxon Motor

  • Nidec Corporation

  • Regal Beloit Corporation

  • Rockwell Automation

  • Siemens

  • Teco Electric & Machinery

  • Toshiba Corporation

  • Weg

  • Wolong

  • Yaskawa

For more information about this report visit https://www.researchandmarkets.com/r/5lajsk

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900