Electric Motor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2029

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Electric Motor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2029

Status : January, 2023 | Energy & Mining

Report Digest

Global Electric Motor Market: Overview  

The demand within the global electric motor market is treading along an ascending track in recent times. The focus of the energy sector on developing efficient and green technologies has created a plethora of opportunities for growth within the global electric motor market. The increasing concerns related to air and water pollution, coupled with depletion of the earth’s green cover, has brought electric technologies under the spotlight of attention. The use of fuel-powered vehicles is the largest contributor to air pollution. Moreover, the number and carbon footprint of these vehicles is progressively increasing. In this context, the total volume of revenues in the global electric motor market is set to increase.

In this review by TMR Research, several trends pertaining to the energy sector have been decoded in order to understand the dynamics of growth for the global electric motor market. Moreover, the unparalleled efforts of energy scientists to develop green technologies has also generated fresh growth avenues in the global electric motor market. Over the course of the next decade, electric motors could find their applications in a multitude of revenue-centric industries. The COVID-19 pandemic caused hefty disruptions across leading manufacturing sectors. The global electric motor market is, therefore, expected to witness the introduction of new vendor strategies aimed at recovering from the pandemic shocks.

Global Electric Motor Market: Competitive Landscape

  • The need for electric motors can be gauged from the depleting layers of fossil fuels in the earth’s crust. Erosion of natural resources is compelling the technology industry to invest in nascent and innovative technologies that can help in replacing fossil fuels. Therefore, vendors in the global electric motor market are projected to attract fresh revenues from leading investors. Furthermore, the automobile industry could unravel a range of new growth opportunities for market vendors as electric vehicles emerge as the next big thing in the industry.
  • Development of solar-powered electric motors has also gained popularity across several regions. The development of zero carbon usage models across several developed economies is driving the development of solar-powered technologies and motors. Conversion of solar and wind energy to electric energy has eased the way forward for the vendors operating in the global electric motor market.

Key Players

  • Wolong
  • Siemens
  • ABB
  • Nidec Corporation

Global Electric Motor Market: Key Trends

  • Popularity of Solar Energy Storage       

Investments in solar energy storage technologies also creates a strong case for growth across the global electric motor market. Companies such as Tesla have already invested in solar energy storage technologies, and this is an important dynamic of market expansion. Besides, solar energy farms that store and convert solar energy into electrical energy have also gained popularity. The tremendous value generated by these farms across the energy sector has opened fresh avenues for market expansion.

  • Advancements in Agriculture Technologies

The use of electric motors in the electric industry is slated to drive sales across the global market. The agricultural sector has found a long-sought, efficient technology in the form of electric motors, driving demand within the market in question.

Global Electric Motor Market: Regional Segments

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?