Electric Motors Market in North America, Forecast to 2024

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

RELEASE DATE
17-Feb-2020
REGION
North America
Research Code: K433-01-00-00-00
SKU: IA01571-NA-MR_24115
$4,950.00
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$4,950.00
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Description

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

RESEARCH: INFOGRAPHIC

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Table of Contents

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)

Related 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
More Information
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