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Electric Motors Market in North America, Forecast to 2024
Growing need for higher-efficiency motors, the electrification trend and growth in factory automation are the top market drivers
17-Feb-2020
North America
Market Research
This research presents the forecast scenario in the North American electric motors market from 2020 to 2024 –including sales by geographic regions, motor technologies, motor power ratings and major end-user industries.
Geographic segments included are the United States and Canada.
Motor technologies included are AC Induction/Asynchronous motor; AC Synchronous, which includes Permanent Magnet AC (PMAC) motor, reluctance motor and other synchronous motors; Brushed DC motor; brushless DC motor or electronically commutated motor; and servo & stepper motor.
End-user segments include metals & mining, oil & gas, electric power generation, chemicals and petrochemicals, water and wastewater treatment, food & beverage, other process industries, discrete industries, medical devices and building automation, marine, heating, ventilation and air conditioning (HVAC), lawn and gardening equipment, and traction.
In addition, this study discusses the competitive revenues and market shares in 2019 and the technology and business trends that are expected to impact the market from 2019 to 2024.
The adoption of permanent magnet (PM) alternative current (AC) motors increased in 2019 due to their advantages such as space savings and higher energy efficiency.
The sale of electronically commutated (EC) motors (also known as brushless direct current (DC) motors) is likely to remain higher than the market average growth in 2018. The increasing percentage of fans, blowers, water pumps, industrial robots and medical devices fitted with these motors will drive the market in 2019.
Revenue growth for the market is being enabled by the long-term trends of increasing electrification trend and end-users' willingness to invest in higher energy efficient technologies in order to reduce their operating cost and also their carbon footprint (in order to market themselves as green companies.
Constant investments into segments such as oil & gas, water & wastewater treatment enabled by growing demand for natural gas liquefaction and transportation are likely to be instrumental in boosting the revenue growth for electric motors from 2020 to 2024.
Expected increase in the uptake of electric vehicles (EVs) and hybrid electric vehicles (HEVs) will lead to an increase in the demand for traction motors used in these vehicles.
Market revenue in $ million has been provided for 2 countries, 7 product segments by motor technology, 3 product segments by motor power and voltage rating and 13 end-user segments.
The research estimates the motors market size from 2016 to 2019 and provides a forecast for the market for the period from 2020 to 2024.
Author: Krishna Raman
Key Findings
Key Findings (continued)
Market Engineering Measurements
Market Engineering Measurements (continued)
CEO’s Perspective
Market Definitions
Market Definitions (continued)
Market Overview—End-user Segmentation
Market Overview—End-user Segmentation (continued)
Market Overview—End-user Segmentation (continued)
Key Questions This Study Will Answer
Market Segmentation by Motor Technology
Market Segmentation by End-user Segment
Market Distribution Channels
Market Drivers
Drivers Explained
Drivers Explained (continued)
Market Restraints
Restraints Explained
Market Engineering Measurements
Market Engineering Measurements (continued)
Forecast Assumptions
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast by Motor Technology
Revenue Forecast Discussion by Motor Technology
Revenue Forecast Discussion by Motor Technology (continued)
Revenue Forecast by Motor Voltage & Power Rating
Revenue Forecast Discussion by Motor Voltage & Power Rating
Percent Revenue Forecast by Country
Revenue Forecast by Country
Revenue Forecast Discussion by Country
Revenue Forecast by End-user Segment
Revenue Forecast Discussion by End-user Segment
Revenue Forecast Discussion by End-user Segment (continued)
Revenue Forecast Discussion by End-user Segment (continued)
Market Share
Market Share (continued)
Market Share Analysis
Market Share Analysis (continued)
Market Share Analysis (continued)
Competitive Environment
Top Competitors
Top Competitors (continued)
Major Growth Opportunities
Growth Opportunity 1—Energy-Efficient Motors
Growth Opportunity 2—Brushless DC Motors
Growth Opportunity 3—Industrial Mobility
Growth Opportunity 4—Motor Analytics
Strategic Imperatives for Success and Growth
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast Discussion (continued)
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
Revenue Forecast
Revenue Forecast Discussion
EV and HEV—List of Incentives
EV & HEV—List of Incentives (continued)
EV & HEV—List of Incentives (continued)
EV & HEV—List of Incentives (continued)
United States—Key Findings
Revenue Forecast
Revenue Forecast Discussion
Canada—Key Findings
Revenue Forecast
Revenue Forecast Discussion
The Last Word—3 Big Predictions
Legal Disclaimer
Market Engineering Methodology
Additional Sources of Information on Electric Motors Market
List of Companies in “Others”
Partial List of Companies Interviewed
Abbreviations and Acronyms Used
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Krishna Raman |
| Industries | Industrial Automation |
| WIP Number | K433-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9406-A5,99F0-A5,9593,9420 |