electric dc motors Market

The global electric DC motor market is expected to grow from US$ 12,968.5 million in 2021 to US$ 23,639.4 million by 2028; it is estimated to grow at a CAGR of 9.0% during 2021-2028.

The APAC electric DC motors market is further segmented by country, including Australia, China, India, Japan, and South Korea. The region's robust automotive industry has driven the demand for electric DC motors in recent years. China and India, in particular, have experienced a surge in automotive production due to increased demand for commercial and passenger vehicles in the region. In 2020, India and China produced 3,394,446 and 25,225,242 vehicles, respectively. APAC's rising automotive manufacturing industry has contributed to the growing demand for electric DC motors across the region. Additionally, China has seen a significant increase in industrial equipment and home appliance production over the years. With rising disposable incomes, fast urbanization, and creative and appealing advertising from manufacturing companies, a potentially disruptive market environment has emerged in the APAC region. The growing number of urban residents and middle-class families has increased demand for home and kitchen equipment throughout the region. APAC-based electric DC motor manufacturers, such as Yaskawa Electric Corporation, Johnson Electric Holdings Limited, Nidec Corporation, and MinebeaMitsumi, Inc., have increased investments in product development and geographic expansion to expand their customer base globally. In February 2021, Johnson Electric Holdings Limited launched LVDC motors for smart furniture.

The electric DC motor market is segmented on the basis of type, speed, application, and geography. On the basis of type, the market is bifurcated into brushed DC motors and brushless DC motors. The brushless DC motors segment represented a larger share of the overall market in 2020 On the basis of speed, the Electric DC Motors market is segmented into low (less than 1,000 rpm), medium (1,001-25,000 rpm), and high (above 25,000). In 2020, the medium segment held the largest share of the market. On the basis of application, the electric DC motor market is segmented into industrial machinery, automotive and transportation, HVAC equipment, aerospace & defense, household appliances, and others. The household appliances segment represented the largest share of the overall market in 2020. On the basis of geography, the electric DC motor market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. In 2020, APAC accounted for the largest share in the global market.

Disruptions in the supply chain of raw materials have negatively impacted the electric DC motors market in the MEA region. The COVID-19 pandemic has resulted in the discontinuation of many economic operations, causing a significant decrease in demand for new air conditioners, television sets, and refrigerators. This, in turn, has impacted the market for electric DC motors from manufacturers of HVAC systems and consumer electronics. The end-users in the MEA region heavily rely on international suppliers and faced significant supply chain disruptions during the first and second quarters of 2020. However, at the beginning of the third quarter of 2020, the demand for various semiconductor products, including electric DC motors, increased as operations resumed.

Primary and secondary research techniques have determined the electric DC motor market size. In the initial research stage, extensive secondary research was conducted using internal and external sources to collect qualitative and quantitative information related to the market. The collected data provided an overview and forecast concerning all the market segments for the electric DC motor market. The research process also included an overview and forecast of the Electric DC Motors market based on the segmentation provided for five major regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Additionally, primary interviews were conducted with industry experts, including VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and essential opinion leaders specializing in the electric DC motor market. The primary interviews were conducted to validate the collected data and gain more analytical insights into the market.

A few major players operating in the global electric DC motor market are ABB Ltd; AMETEK Inc.; Yaskawa Electric Corporation; Johnson Electric Holdings Limited; Nidec Corporation; Siemens AG; Allied Motion Technologies Inc.; MinebeaMitsumi, Inc.; Maxon Motors AG; and Regal Rexnord Corporation.