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 : February, 2021 | 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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?