The Latest Electric Motor Industry Statistics Explained
The global electric motor market size was valued at $116.46 billion in 2019.
The statistic indicates that the global electric motor market was valued at $116.46 billion in 2019. This figure represents the total revenue generated by the electric motor industry worldwide during that year. Electric motors are essential components used in various applications across industries such as automotive, industrial manufacturing, consumer goods, and electronics. The market size value reflects the significant demand for electric motors driven by factors like the shift towards electric vehicles, increasing industrial automation, and the emphasis on energy efficiency. The size of the electric motor market provides insights into the scale of the industry and its economic impact on a global scale.
China dominated the global electric motor sales by value in 2019, with a share of over 40%.
The statistic indicates that China held a significant position in the global electric motor sales market in 2019, accounting for over 40% of the total sales value worldwide. This dominance suggests that China was a major player in the electric motor industry during that time, outperforming other countries in terms of market share and value. The high market share could be attributed to factors such as a large manufacturing base, competitive pricing, technological advancements, and a strong demand for electric motors both domestically and internationally. This statistic highlights China’s strength in the electric motor sector and its prominent position in the global marketplace.
Electric motors account for almost half of the world’s electrical consumption.
The statistic that electric motors account for almost half of the world’s electrical consumption highlights the significant impact that electric motors have on global energy usage. This implies that a large portion of the electricity generated worldwide is utilized by electric motors for various applications such as industrial machinery, appliances, transportation, and more. The efficiency and optimization of electric motor systems play a critical role in overall energy conservation and sustainability efforts as reducing energy consumption from electric motors can potentially lead to significant energy savings and reduced greenhouse gas emissions on a global scale.
The AC motors segment held the largest market share in 2019, contributing to more than half of the global electric motor market.
The statistic highlights that in 2019, the market for electric motors was dominated by the AC motors segment, which accounted for over 50% of the global market share. This indicates that AC motors were the most widely used and in-demand type of electric motor during that time period. The significant contribution of the AC motors segment suggests that industries and consumers favored AC motors over other types for their applications. This statistic underscores the importance of AC motors in driving the growth and development of the overall electric motor market in 2019.
Electric motor efficiency can be improved by 20 to 30 percent by using variable speed drives.
The statistic states that the efficiency of electric motors can be increased by 20 to 30 percent by implementing variable speed drives. Variable speed drives allow the motor to adjust its speed based on the required load, resulting in energy savings and increased efficiency. By using variable speed drives, motors can operate at their optimal speed, reducing energy consumption and improving overall performance. This statistic highlights the significant impact that technology and control systems can have on improving the efficiency and sustainability of electric motor operations.
In North America, fractional horsepower motors (FHP) reached a sales revenue of approximately 8.7 billion U.S. dollars in 2019.
The statistic indicates that in North America, fractional horsepower motors (FHP) generated a significant amount of sales revenue totaling around 8.7 billion U.S. dollars in 2019. This suggests a strong demand for FHP motors within the region during that year. FHP motors are typically used in a wide range of applications, including household appliances, automotive systems, and industrial machinery, among others. The high revenue figure reflects the importance and widespread use of FHP motors in various sectors of the economy, highlighting their crucial role in powering essential equipment and machinery across different industries in North America.
Industrial sector made up the largest end user segment of the electric motor market, with a 37.3% share in 2020.
The statistic indicates that in 2020, the industrial sector was the largest end user segment in the electric motor market accounting for 37.3% of the market share, suggesting that a significant portion of electric motors are being used in industrial applications such as manufacturing, construction, and energy production. This highlights the importance of electric motors in powering various industrial machinery and equipment, showcasing the widespread adoption of electric motors in industrial processes. The high market share of the industrial sector also indicates the potential for further growth and innovation in electric motor technology to meet the evolving needs of industrial applications.
In 2019, a total of around 6 million hybrid and electric vehicles were sold worldwide.
The statistic reveals that in 2019, there was a significant global market shift towards environmentally friendly vehicles, with approximately 6 million hybrid and electric vehicles sold worldwide. This indicates a growing awareness and acceptance of alternative energy transportation options, likely driven by concerns over climate change and a desire for reduced greenhouse gas emissions. The increasing availability and affordability of hybrid and electric vehicles, along with government incentives and stricter emissions regulations, have contributed to this steady rise in sales. The statistic signifies a notable milestone in the automotive industry’s transition towards sustainable mobility and highlights the increasing trend towards cleaner and more energy-efficient transportation solutions.
About 25% of total U.S. energy use is for transportation, of which electric motors account for a significant portion.
The statistic states that approximately 25% of the total energy consumption in the United States is attributed to the transportation sector. Within this sector, electric motors play a significant role in powering various vehicles, highlighting the increasing adoption of electric vehicles. This trend reflects a shift towards more sustainable and energy-efficient transportation options, driven by concerns about environmental impact and the need to reduce dependence on fossil fuels. The statistic underscores the importance of considering alternative energy sources and technologies in the transportation sector to mitigate energy consumption and environmental consequences associated with traditional gasoline-powered vehicles.
Between 2021 and 2026, the electric motor sales are expected to record a CAGR of over 6%.
This statistic indicates that the sales of electric motors are projected to experience a Compound Annual Growth Rate (CAGR) of more than 6% between the years 2021 and 2026. A CAGR of over 6% suggests a steady and consistent growth in sales over the forecast period. This growth rate signifies a positive trend in the market demand for electric motors, reflecting a potential increase in their use across various industries and applications. It implies that the electric motor industry is expected to expand and become more prominent in the next few years, presenting opportunities for manufacturers and businesses involved in the production and distribution of electric motors.
The electric motor manufacturing industry in the United States has around 943 businesses in 2021.
The statistic that the electric motor manufacturing industry in the United States has around 943 businesses in 2021 indicates the number of businesses involved in the production of electric motors within the country during that year. This figure suggests a significant presence of companies in the industry, highlighting the level of competition and activity within the sector. It also reflects the importance of electric motors in various applications, from automotive to industrial machinery, and the demand for such products in the market. Additionally, this statistic can serve as a point of reference for analyzing the industry’s trends, growth prospects, and potential impact on the economy.
The electric motor manufacturing industry in the U.S. is worth $13 billion in 2021.
This statistic indicates that the value of the electric motor manufacturing industry in the United States amounted to $13 billion in the year 2021. This figure represents the total economic worth generated by the manufacturing and sale of electric motors within the country during that year. The sizeable value of $13 billion signifies the significance and scale of the electric motor manufacturing industry within the U.S., highlighting the sector’s economic contribution and potential impact on the overall economy. This statistic can be used to assess the industry’s growth, competitiveness, and importance within the U.S. market, providing valuable insights for policymakers, investors, and industry stakeholders to make informed decisions and strategic planning.
The industrial electric motor sector holds around 44% of the market share in Europe.
The statistic indicates that the industrial electric motor sector has a significant presence in the European market, holding approximately 44% of the total market share. This suggests that a substantial portion of electric motors used in industrial applications in Europe are supplied by companies within this sector. The high market share demonstrates the sector’s strong position and influence within the industry, likely due to factors such as technological advancements, product quality, and customer loyalty. This statistic highlights the importance of the industrial electric motor sector in the European market and its potential impact on the overall industrial and manufacturing landscape in the region.
The integration of IoT in electric motors has gained significance over the past few years.
The statistic highlights the increasing importance of incorporating Internet of Things (IoT) technology in electric motors, reflecting a trend that has emerged over recent years. Integrating IoT in electric motors enables real-time monitoring, data collection, and analysis, leading to enhanced performance, efficiency, and predictive maintenance. This integration allows for remote control and monitoring of motors, which can help optimize energy consumption, prevent failures, and improve overall operational effectiveness. The statistic indicates a shift towards leveraging IoT capabilities in electric motors to drive advancements and innovation in industrial applications, ultimately resulting in improved reliability and productivity.
The global revenue for motor and generator manufacturing reached $129 billion in 2017.
The statistic indicates that in 2017, the total revenue generated globally by the motor and generator manufacturing industry amounted to $129 billion. This figure reflects the combined sales from companies involved in producing motors and generators across different regions of the world. The statistic underscores the significant economic impact and scale of the motor and generator manufacturing sector, highlighting the demand for these products in various industries such as automotive, aerospace, energy, and manufacturing. The revenue generated by this sector serves as a key indicator of the industry’s contribution to the overall economy, employment opportunities, and technological advancements in the field of electrical machinery.
The electric motor industry is expected to provide 1.2 million jobs in Europe by 2040.
The statistic states that the electric motor industry is projected to create 1.2 million jobs in Europe by the year 2040. This suggests a significant growth potential in the industry, likely driven by the increasing demand for electric vehicles and renewable energy technologies. The expansion of the electric motor industry is expected to have a positive impact on the European job market, providing new employment opportunities across various sectors such as manufacturing, research and development, and maintenance. This statistic reflects a shift towards sustainable and clean energy solutions, highlighting the potential economic benefits and job creation opportunities associated with the transition to electric technologies.
Conclusion
The statistics presented clearly show the dynamic and growing nature of the electric motor industry. With increasing demand for electric vehicles and advancements in technology, this industry is poised for continued expansion and innovation in the coming years. Businesses and policymakers can use these insights to make informed decisions and leverage opportunities in this rapidly evolving sector.
References
0. – https://www.www.ibisworld.com
1. – https://www.www.alliedmarketresearch.com
2. – https://www.www.statista.com
3. – https://www.new.abb.com
4. – https://www.www.grandviewresearch.com
5. – https://www.www.euwid-paper.com
6. – https://www.www.globenewswire.com
7. – https://www.www.se.com
8. – https://www.www.fortunebusinessinsights.com
9. – https://www.www.energy.gov
10. – https://www.www.mordorintelligence.com
