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

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

• COVID-19 Impact on the Market.
• 10 Years 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 Revenues & Volume for the Period 2020 - 2030
• 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 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, ventilating, and 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 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

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 (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)