Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia), By Motor Type (Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor), By Output Power, By Voltage Range (9 V & Below, 10-20 V, 21-60 V, 60 V & Above), By Application (Industrial machinery, Motor vehicles, Heating, ventilating, and cooling (HVAC) equipment, Aerospace & transportation, Household appliances, Other), By Speed (RPM) (Low-Speed Electric Motors (Less Than 1,000 RPM), Medium-Speed Electric Motors (1,001-25,000 RPM), High-Speed Electric Motors (25,001-75,000 RPM), Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM)) And Competitive Landscape
Product Code: ETC057274 | Publication Date: May 2021 | Updated Date: Jan 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Asia Pacific Electric Motor Market report thoroughly covers the market by countries, by motor type, by voltage range, by application, and by speed. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Asia Pacific Electric Motor Market is a dynamic and rapidly growing market, driven by the demand for energy-efficient systems and the adoption of green technology. Despite the challenges, the region offers significant opportunities for electric motor manufacturers to cater to the growing demand for electric motors across various industries. The market is expected to continue its growth trajectory in the coming years, with the adoption of new technologies and the increasing focus on sustainable solutions. The Asia Pacific region is a major contributor to the global electric motor market. The region accounts for a significant portion of the global demand for electric motors, driven by the growing need for energy-efficient systems across various industries.ย
According to 6Wresearch, the Asia Pacific Electric Motor Market Size is expected to reach a value of USD 57.5 billion, increasing at a CAGR of 7.1% during the forecast period of 2024-2030. The Asia Pacific region is the largest contributor to global economic growth, with major countries such as China and India investing heavily in the manufacturing sector. The increasing demand for industrial automation, coupled with the need for energy-efficient solutions, has driven the growth of the electric motor market. However, challenges such as the lack of skilled labor, volatility of raw material prices, and high initial costs have restrained the growth of the market. The Asia Pacific region is witnessing a shift towards the adoption of electric vehicles as a means of reducing carbon emissions and promoting sustainable transportation.
This has created significant opportunities for electric motor manufacturers to meet the demand for electric vehicle motors. Furthermore, the increased adoption of the Internet of Things (IoT) and artificial intelligence technologies in the manufacturing sector has led to the development of smart motors that enable efficient monitoring and control of industrial processes. The growing demand for energy-efficient systems has also led to the adoption of high-efficiency motors that consume less energy, reducing operating costs and carbon emissions. These motors are being utilized across a range of industries, including manufacturing, agriculture, and transportation.
The government policies and schemes that are introduced in the Asia Pacific Electric Motor Market are critical drivers in promoting the use of electric motors. For instance, in China, subsidy programs for electric vehicles are implemented by the government. This means that the country subsidizes up to 50% of the purchase price of electric vehicles. In India, the government announced the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme to incentivize the use of electric vehicles. In Singapore, the implementation of the Vehicular Emissions Scheme (VES) has encouraged car buyers to opt for vehicles with better energy efficiency. Similarly, South Korea introduced the Low Emissions Vehicle Promotion Act, promoting the use of low-emission vehicles such as electric cars and hybrids.
The Asia Pacific Electric Motor Industry has witnessed significant growth over the years due to the efforts of many leading players. Some of these leading players are Siemens AG, Nidec Corporation, Denso Corporation, Toshiba Corporation, and ABB Ltd. These companies have established themselves as the top manufacturers of electric motors in the region.
Based on Application, the industrial machinery and motor vehicle segments are expected to dominate the market, owing to the increasing need for automation and sustainable transportation solutions.
Based on Countries, China holds the largest share of the Asia-Pacific electric motor market. China has also seen significant growth in the electric motor market due to the growing number of electric vehicle sales. India is expected to grow rapidly in this market due to the government's plans to shift towards sustainable energy solutions.ย
According to Shivani, Senior Research Analyst, 6Wresearch, the AC Motor segment is expected to lead the Asia Pacific Electric Motor Market Share due to ease of operation and maintenance and higher efficiency compared to DC motors.
By Speed, the low-speed electric motor segment is anticipated to capture the largest market share, as it is widely used in industrial applications, including large fans and pumps.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Asia Pacific Electric Motor Market Overview |
3.1 Asia Pacific Regional Macro Economic Indicators |
3.2 Asia Pacific Electric Motor Market Revenues & Volume, 2020 & 2030F |
3.3 Asia Pacific Electric Motor Market - Industry Life Cycle |
3.4 Asia Pacific Electric Motor Market - Porter's Five Forces |
3.5 Asia Pacific Electric Motor Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Asia Pacific Electric Motor Market Revenues & Volume Share, By Motor Type, 2020 & 2030F |
3.7 Asia Pacific Electric Motor Market Revenues & Volume Share, By Output Power, 2020 & 2030F |
3.8 Asia Pacific Electric Motor Market Revenues & Volume Share, By Voltage Range, 2020 & 2030F |
3.9 Asia Pacific Electric Motor Market Revenues & Volume Share, By Application, 2020 & 2030F |
3.10 Asia Pacific Electric Motor Market Revenues & Volume Share, By Speed (RPM), 2020 & 2030F |
4 Asia Pacific Electric Motor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Asia Pacific Electric Motor Market Trends |
6 Asia Pacific Electric Motor Market, 2020 - 2030 |
6.1 Asia Pacific Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
6.2 Asia Pacific Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
6.3 Asia Pacific Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
6.4 Asia Pacific Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
6.5 Asia Pacific Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
7 China Electric Motor Market, 2020 - 2030 |
7.1 China Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
7.2 China Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
7.3 China Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
7.4 China Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
7.5 China Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
8 India Electric Motor Market, 2020 - 2030 |
8.1 India Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
8.2 India Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
8.3 India Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
8.4 India Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
8.5 India Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
9 Japan Electric Motor Market, 2020 - 2030 |
9.1 Japan Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
9.2 Japan Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
9.3 Japan Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
9.4 Japan Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
9.5 Japan Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
10 Australia Electric Motor Market, 2020 - 2030 |
10.1 Australia Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
10.2 Australia Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
10.3 Australia Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
10.4 Australia Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
10.5 Australia Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
11 Indonesia Electric Motor Market, 2020 - 2030 |
11.1 Indonesia Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
11.2 Indonesia Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
11.3 Indonesia Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
11.4 Indonesia Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
11.5 Indonesia Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
12 Philippines Electric Motor Market, 2020 - 2030 |
12.1 Philippines Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
12.2 Philippines Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
12.3 Philippines Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
12.4 Philippines Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
12.5 Philippines Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
13 Thailand Electric Motor Market, 2020 - 2030 |
13.1 Thailand Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
13.2 Thailand Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
13.3 Thailand Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
13.4 Thailand Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
13.5 Thailand Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
14 Malaysia Electric Motor Market, 2020 - 2030 |
14.1 Malaysia Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
14.2 Malaysia Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
14.3 Malaysia Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
14.4 Malaysia Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
14.5 Malaysia Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
15 Singapore Electric Motor Market, 2020 - 2030 |
15.1 Singapore Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
15.2 Singapore Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
15.3 Singapore Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
15.4 Singapore Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
15.5 Singapore Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
16 Rest of Asia Electric Motor Market, 2020 - 2030 |
16.1 Rest of Asia Electric Motor Market, Revenues & Volume, By Motor Type, 2020 - 2030 |
16.2 Rest of Asia Electric Motor Market, Revenues & Volume, By Output Power, 2020 - 2030 |
16.3 Rest of Asia Electric Motor Market, Revenues & Volume, By Voltage Range, 2020 - 2030 |
16.4 Rest of Asia Electric Motor Market, Revenues & Volume, By Application, 2020 - 2030 |
16.5 Rest of Asia Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020 - 2030 |
17 Asia Pacific Electric Motor Market Key Performance Indicators |
18 Asia Pacific Electric Motor Market - Opportunity Assessment |
18.1 Asia Pacific Electric Motor Market Opportunity Assessment, By Countries, 2020 & 2030F |
18.2 Asia Pacific Electric Motor Market Opportunity Assessment, By Motor Type, 2020 & 2030F |
18.3 Asia Pacific Electric Motor Market Opportunity Assessment, By Output Power, 2020 & 2030F |
18.4 Asia Pacific Electric Motor Market Opportunity Assessment, By Voltage Range, 2020 & 2030F |
18.5 Asia Pacific Electric Motor Market Opportunity Assessment, By Application, 2020 & 2030F |
18.6 Asia Pacific Electric Motor Market Opportunity Assessment, By Speed (RPM), 2020 & 2030F |
19 Asia Pacific Electric Motor Market - Competitive Landscape |
19.1 Asia Pacific Electric Motor Market Revenue Share, By Companies, 2023 |
19.2 Asia Pacific Electric Motor Market Competitive Benchmarking, By Operating and Technical Parameters |
20 Company Profiles |
21 Recommendations |
22 Disclaimer |