Authored By: Sarah
02 Dec 2024

Latest News- Electric Motor Sales Market: Industrial is expected to lead the Application segment during 2024-2028

The Electric Motor Sales Market is being driven by Transition of global automotive industry to EV and robotic technologies

The Electric Motor Sales Market is expected to grow at a CAGR of 6.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 56.6 billion. The electric motor sales market is experiencing significant growth due to the increasing demand for HVAC systems in residential, commercial, and industrial sectors. HVAC systems are essential components of modern infrastructure, providing indoor air quality and thermal comfort. To optimize their performance and efficiency, electric DC motors, specifically brushless DC motors, are commonly used in HVAC systems. The surge in EV technology has led to a notable increase in the installation of brushless DC motors in electric vehicles and hybrids. Furthermore, the expanding industrial and commercial sectors in China and India have fueled the demand for HVAC systems in the Asia-Pacific region. 

Get more information on Electric Motor Sales Market by requesting a sample report

 

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on Application (Industrial, Residential, Commercial, Automotive) Geography (APAC, Europe, North America, South America, Middle East and Africa). 

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

  • Transition of global automotive industry to EV and robotic technologies
  • Increased government incentives to encourage sales of EVs
  • Frequent innovative product launches creating opportunity

Benefits of Buying Global Electric Motor Sales Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Key Features in Electric Motor Sales Market Research Report

  • Comprehensive Market Analysis
  • In-Depth Competitive Landscape
  • Future Market Trends
  • Detailed Market Segmentation.
  • Expert Analysis, and more...

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The electric motor sales market is experiencing significant growth due to the increasing demand for energy-efficient appliances in homes and the rise of green transportation through electric and hybrid vehicles. Sustainability and reducing carbon emissions are key drivers, leading to the adoption of high-efficiency AC and DC motors in various applications. Motor technology advancements, such as smart motor technologies, sensors, and control systems, are enhancing energy efficiency in HVAC systems and electromechanical devices, ultimately converting electrical energy into mechanical rotational energy for diverse industries. Permanent magnet and non-permanent magnet motors, including AC and DC motors, are at the forefront of this evolution.

Market Research Overview

The electrical components and equipment market encompasses businesses involved in the production of electrical cables and wires, electrical components, and electrical equipment. This market's size is determined by the consolidated revenue generated by manufacturers of various sub-segments, including water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, the rental and leasing of electrical components and equipment to industrial, commercial, and residential clients is also taken into account when calculating the market size. Key sectors contributing to this market include home appliances, green vehicles, electric vehicles, sustainability, carbon emissions reduction, hybrid vehicles, and electric motor-driven cars, which emphasize high-efficiency motors and smart offices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!

Safe and Secure SSL Encrypted

Technavio

  • 2500 USD

[5 reports/month/user]

  • 5000 USD

close
  • Basic Plan [5000 USD/Year]:

    Single User
    Download 5 Reports/Month
    View 100 Reports/Month
    Add upto 3 Users at 625 USD/user

  • Teams Plan [7500 USD/Year]:

    5 User
    Download 5 Reports/Month/User
    View 100 Reports/Month/User
    Add upto 30 Users at 500 USD/user

*You can upgrade to Teams plan at Subscription page

close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization).
    Complimentary Customization Included

*For Enterprise license, go to checkout page

Technavio Get the report (PDF) sent to your email within minutes.

Document