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Mexico Electric Motor Market (2024-2030) | Trends, Size, Value, Share, Segmentation, Forecast, Growth, Revenue, Analysis, Industry, Outlook

Market Forecast By Motor Type (Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor), 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: ETC041084	Publication Date: Dec 2023	Updated Date: May 2024	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

Mexico Electric Motor Market Competition 2023

Mexico Electric Motor market currently, in 2023, has witnessed an HHI of 2893, Which has increased slightly as compared to the HHI of 2529 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Mexico Export Potential Assessment For Electric Motor Market (Values in USD Thousand)

Topics Covered in the Mexico Electric Motor Market

Mexico Electric Motor Market report thoroughly covers the market 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.

Mexico Electric Motor Market Synopsis

Mexico Electric Motor Market has been experiencing significant growth over the years. The increasing demand for energy-efficient and cost-effective electric motors across various industries has driven Mexico electric motor market growth. The country's focus on promoting sustainable energy and reducing greenhouse gas emissions has also facilitated this growth.

According to 6Wresearch, the Mexico Electric Motor Market size is expected to at a CAGR of 4.89% during the forecast period of 2024-2030. The primary drivers of the Mexico electric motor market are the growing concerns around climate change, the rise in energy prices, and the need for energy efficiency in various industries. Since country’s energy sector accounts for a significant percentage of the country's greenhouse gas emissions, there has been a pressing need to invest in sustainable energy. The Mexico government has been promoting the use of electric motors for appliances, electric vehicles, and other applications to reduce greenhouse gas emissions and improve energy efficiency. Also, the country's automotive industry has been experiencing significant growth, and this has driven the demand for electric motors as electric vehicles become more prevalent. Despite the growth, the Mexico electric motor market faces some challenges, including competition from low-cost electric motor manufacturers in other regions, inadequate investment in research and development, and lack of awareness of the benefits of electric motors. The country needs to invest in research and development to create more energy-efficient, cost-effective, and reliable electric motors while ensuring they remain competitive in the global market space. The Mexico electric motor industry has been experiencing emerging trends, including the development of advanced electric motors. These motors offer higher efficiency, more torque, and can operate in harsh environments. The market is also witnessing the adoption of brushless DC motors for electric vehicle manufacturing, which offers a longer lifespan and higher energy efficiency levels. Also, Mexico electric motor market presents significant opportunities, including the emergence of new industries such as renewable energy, healthcare, and robotics, which require electric motors. The rising demand for electric vehicles in the country also presents significant opportunities for electric motor manufacturers.

Government policies and schemes introduced in the Mexico Electric Motor Market

Electric motor technology has transformed the way industries operate in the modern world. Various firms have leveraged this technology, and the Mexico Electric Motor Market has begun to experience exceptional growth in the last few years. The Government has also implemented policies and introduced schemes in the market to accelerate the adoption of electric motor technology.

Sustainable Energy Fund- The Sustainable Energy Fund (FSE) supports activities related to the promotion, financing, and development of renewable energies. The fund has allocated a budget of 13 billion pesos for 2021. The purpose of this fund is to promote activities with low carbon emissions and sustainable consumption patterns in Mexico.
National Programme of Sustainable Energy Use (PRONASE)- PRONASE is a coordinated program led by the Energy Ministry that aims to reduce energy consumption and promote energy efficiency. The goal of this program is to decrease Mexico's energy consumption and increase energy efficiency by 15% by 2024.
National Transport and Mobility Policy (PNMT)- The PNMT is a policy framework that seeks to improve the efficiency and sustainability of the transportation sector. This policy promotes the adoption of clean, sustainable, and efficient transportation modes, such as electric vehicles.

Leading players in the Mexico Electric Motor Market

The Mexico Electric Motor Market has several leading players that are contributing to the growth of the industry. These include Empresas IUSA, Electromecánica VM, ABB, Siemens, WEG Mexico, and Regal Electric Mexico. These companies offer electric motors for various industries such as automotive, industrial, and commercial. These organizations are not only introducing new technologies but are also helping to drive the adoption of electric motor technology in Mexico by offering innovative solutions and longer-lasting motors.

Market Analysis by Motor Type

By Motor Type, the AC segment dominates the Mexico electric motor market share. However, the DC motor segment is expected to witness significant growth during the forecast period, owing to its increasing adoption in various industrial applications. The hermetic motor segment is also expected to grow due to its widespread use in the manufacturing of compressors for HVAC systems.

Market Analysis by Application

In terms of Application, the industrial machinery segment is the largest application category for electric motors, and it is expected to remain dominant during the forecast period. However, the motor vehicle segment is expected to witness significant growth owing to the increasing adoption of electric vehicles and hybrid electric vehicles. The HVAC equipment segment is also expected to grow steadily due to the country's hot climatic conditions.

Market Analysis by Voltage Range

According to Swati Sharma, Senior Research Analyst, 6Wresearch, the 10-20 V segment is expected to witness the highest growth in the Mexico electric motor market, owing to its extensive use in automotive applications. The 60V & Above segment is also expected to grow steadily due to the increasing demand for electric vehicles and hybrid electric vehicles. The 9V & Below segment holds the largest market share, owing to its use in several household appliances.

Key Attractiveness of the Report

10 Years of Market Numbers.
Historical Data Starting from 2020 to 2023.
Base Year: 2023
Forecast Data until 2030.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects

Key Highlights of the Report:

Mexico Electric Motor Market Outlook
Market Size of Mexico Electric Motor Market , 2023
Forecast of Mexico Electric Motor Market, 2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume for the Period
2020-2030
Mexico Electric Motor Market Trend Evolution
Mexico Electric Motor Market Drivers and Challenges
Mexico Electric Motor Market Price Trends
Mexico Electric Motor Market Porter's Five Forces
Mexico Electric Motor Market Industry Life Cycle
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Motor Type
for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Voltage Range
for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 10-20 V for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 21-60 V for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Application
for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Industrial Machinery for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Motor Vehicles for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Heating for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Ventilating for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Cooling (HVAC) Equipment for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Aerospace & Transportation for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Household Appliances for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Other for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By (Low-Speed Electric Motors (Less Than 1,000 RPM) for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Medium-Speed Electric Motors (1,001-25,000 RPM) for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By High-Speed Electric Motors (25,001-75,000 RPM) for the Period 2020-2030
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2020-2030
Mexico Electric Motor Market Import Export Trade Statistics
Market Opportunity Assessment By Motor Types
Market Opportunity Assessment By Voltage Range
Market Opportunity Assessment By Applications
Market Opportunity Assessment By Speed
Mexico Electric Motor Market Top Companies Market Share
Mexico Electric Motor Market Competitive Benchmarking By Motor Types , voltage Range, Application and Speed
Mexico Electric Motor Market Company Profiles
Mexico Electric Motor Market Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Motor Type

Alternate Current (AC) Motor
Direct Current (DC) Motor
Hermetic Motor

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

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)

Mexico Electric Motor Market (2024-2030): FAQs

What does the future hold for the market?

Which segment by speed will dominate the market?

Who are the major companies running in the market?

Is there high competition in the market?

1. Executive Summary

2. Introduction

2.1. Report Description

2.2. Key Highlights of The Report

2.3. Market Scope & Segmentation

2.4. Research Methodology

2.5. Assumptions

3. Mexico Electric Motor Market Overview

3.1. Mexico Country Indicators

3.2. Mexico Electric Motor Market Revenues, 2020-2030F

3.3. Mexico Electric Motor Market Revenue Share, By Voltage, 2020 & 2030F

3.4. Mexico Electric Motor Market Revenue Share, By Types, 2020 & 2030F

3.5. Mexico Electric Motor Market Revenue Share, By Applications, 2020 & 2030F

3.6. Mexico Electric Motor Market Revenue Share, By End-Users, 2020 & 2030F

3.7. Mexico Electric Motor Market - Industry Life Cycle

3.8. Mexico Electric Motor Market - Porter’s Five Forces

4. Mexico Electric Motor Market Dynamics

4.1. Impact Analysis

4.2. Market Drivers

4.3. Market Restraints

5. Mexico Electric Motor Market Trends

6. Mexico Electric Motor Market Overview, By Voltage

6.1. Mexico Low Voltage Electric Motor Market Revenues, 2020-2030F

6.2. Mexico Medium Voltage Electric Motor Market Revenues, 2020-2030F

6.3. Mexico High Voltage Electric Motor Market Revenues, 2020-2030F

7. Mexico Electric Motor Market Overview, By Types

7.1. Mexico Electric Motor Market Revenues, By AC Type, 2020-2030F

7.2. Mexico Electric Motor Market Revenues, By DC Type, 2020-2030F

8. Mexico Electric Motor Market Overview, By Applications

8.1. Mexico Electric Motor Market Revenues, By Pump Application, 2020-2030F

8.2. Mexico Electric Motor Market Revenues, By Fan Application, 2020-2030F

8.3. Mexico Electric Motor Market Revenues, By Conveyor Application, 2020-2030F

8.4. Mexico Electric Motor Market Revenues, By Compressors Application, 2020-2030F

8.5. Mexico Electric Motor Market Revenues, By Other Applications, 2020-2030F

9. Mexico Electric Motor Market Overview, By End-Users

9.1. Mexico Electric Motor Market Revenues, By Industrial Processing, 2020-2030F

9.2. Mexico Electric Motor Market Revenues, By Commercial HVAC, 2020-2030F

9.3. Mexico Electric Motor Market Revenues, By Automotive, 2020-2030F

9.4. Mexico Electric Motor Market Revenues, By Consumer Appliances, 2020-2030F

9.5. Mexico Electric Motor Market Revenues, By Power Generation, 2020-2030F

9.6. Mexico Electric Motor Market Revenues, By Others, 2020-2030F

10. Mexico Electric Motor Market - Key Performance Indicators

11. Mexico Electric Motor Market - Opportunity Assessment

11.1. Mexico Electric Motor Market Opportunity Assessment, By Types, 2030F

11.2. Mexico Electric Motor Market Opportunity Assessment, By Applications, 2030F

12. Mexico Electric Motor Market Competitive Landscape

12.1. Mexico Electric Motor Market Revenue Share, By Companies, 2023

12.2. Mexico Electric Motor Market Competitive Benchmarking, By Operating & Technical Parameters

13. Company Profiles

14. Key Recommendations

15. Disclaimer

Brazil Electric Motor Market

Argentina Electric Motor Market

Chile Electric Motor Market

Peru Electric Motor Market

Colombia Electric Motor Market

Venezuela Electric Motor Market

2021 Jan 04 : Report

Product Code: ETC041084	Publication Date: Jan 2021	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

Mexico Electric Motor Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by the USA. It has registered a growth of 30.87% over the previous year. While the USA registered a growth of 40.98% as compared to the previous year. In the year 2017, the USA was the largest exporter followed by China. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Mexico has a Herfindahl index of 2529 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of 2930 which signifies high concentration in the market.

Mexico Electric Motor Market - Export Market Opportunities

Latest 2023 Developments of Mexico Electric Motor Market

Mexico Electric Motor Market is experiencing major developments and growing demand for sustainable and energy-efficient motors is the key factor driving the market in the country this trend led manufacturers to focus on developing new technologies like high-efficiency motors which offer up to 98% efficiency as compared to conventional motors. Implementation of Industry 4.0 technologies is another major development of the market that has revolutionized manufacturing processes throughout many sectors. By integrating virtual technology with the physical systems, players optimize their production lines, enhance the quality of products and decrease waste. Furthermore, government initiatives also play a significant role in stimulating the Mexico Electric Motor Market Growth.

Topics Covered in Mexico Electric Motor Market Report

Mexico Electric Motor Market report thoroughly covers the market by motor type, voltage range, applications, and speed. The market report provides an unbiased and detailed analysis of the on-going 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.

Mexico Electric Motor Market is projected to grow over the coming year. Mexico Electric Motor Market report is a part of our periodical regional publication Latin America Electric Motor Market outlook report. 6W tracks electric motor market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Electric Motor Market outlook report annually.

Mexico Electric Motor Market Synopsis

Mexico Electric Motor Market is likely to register moderate growth during the forecast period on account of strengthening of automobile industry. Rising development of infrastructure beholds the increasing growth of the market.

According to 6Wresearch, Mexico Electric Motor Market size is projected to register growth during 2020-2026. One of the key factors driving the market growth is expansion of industrial and agriculture sector. Improvement in technology along with growing urbanization is adding to the development of the Electric motor market in Mexico. The increasing usage of electric motor in commercial and residential sector with the advent of technology is driving the development of electric motor market. Increasing initiatives by the government such as tax exemptions beholds the increasing growth of the market. By integrating virtual technology with the physical systems, players optimize their production lines, enhance the quality of products and decrease waste. There is a rising demand for electric motors in many sectors like healthcare, aerospace, and automotive. The demand for reliable and efficient motors is growing, this industry is continuing to propel.

COVID-19 Impact on Mexico Electric Motor Market

The outburst of the COVID-19 pandemic negatively affected the growth of the market. Nationwide lockdown led to the disruption in the supply chain. High maintenance cost is also a restraining factor in the growth of the market. Unorganized market is also a challenge in the growth of the market. The Electric Motor Market in Mexico witnessed slowdown owing to the supply chain disruptions. The automotive sector which is one of the key end users of electric motors affected the most by the pandemic which led to a decline in sales and demand for the electric motors.

Key Players Operating in Mexico Electric Motor Industry

Major companies that are operating in the market include:

Siemens AG
ABB Ltd.
Baldor Electric Company
WEG Industries.

Market by Motor Type

Based on Motor Type, the AC segment is dominating the market and is expected to the market throughout the forecast period followed by DC segment.

Market by Speed

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, the high-speed segment is accounting the highest share and is expected to dominate the market during the forecast period.

Key Attractiveness of the Report

COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2017 to 2020.
Base Year: 2020
Forecast Data until 2027.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.

Key Highlights of the Report:

Mexico Electric Motor Market Outlook
Market Size of Mexico Electric Motor Market, 2019
Forecast of Mexico Electric Motor Market, 2026
Historical Data and Forecast of Mexico Electric Motor Revenues & Volume for the Period 2016 - 2026
Mexico Electric Motor Market Trend Evolution
Mexico Electric Motor Market Drivers and Challenges
Mexico Electric Motor Price Trends
Mexico Electric Motor Porter's Five Forces
Mexico Electric Motor Industry Life Cycle
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Motor Type for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Voltage Range for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 10-20 V for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 21-60 V for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Application for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Industrial machinery for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Motor vehicles for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Heating, ventilating, and cooling (HVAC) equipment for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Aerospace & transportation for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Household appliances for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Other for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Low-Speed Electric Motors (Less Than 1,000 RPM) for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Medium-Speed Electric Motors (1,001-25,000 RPM) for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By High-Speed Electric Motors (25,001-75,000 RPM) for the Period 2016 - 2026
Historical Data and Forecast of Mexico Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2016 - 2026
Mexico Electric Motor Import Export Trade Statistics
Market Opportunity Assessment By Motor Type
Market Opportunity Assessment By Voltage Range
Market Opportunity Assessment By Application
Market Opportunity Assessment By Speed (RPM)
Mexico Electric Motor Top Companies Market Share
Mexico Electric Motor Competitive Benchmarking By Technical and Operational Parameters
Mexico Electric Motor Company Profiles
Mexico Electric Motor Key Strategic Recommendations