Market Forecast by Countries (Germany, United Kingdom, France, Italy, Russia, Spain, Rest of Europe), 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: ETC058105 | Publication Date: Dec 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Europe 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.
Europe Electric Motor Market is poised for significant growth in the coming years primarily due to shift towards a cleaner environment, rising fuel prices, and energy efficiency standards. However, there are challenges to overcome, such as high production costs and supply chain disruptions. Nevertheless, with the increasing adoption of electric motors in various industries and the push for technological advancements, the market offers ample opportunities for growth and innovation. Manufacturers should focus on providing cost-effective solutions, improving product quality, and adopting new technologies to stay ahead in this increasingly competitive market.
According to 6Wresearch, the Europe Electric Motor Market size is projected to reach USD 35.56 billion, with a CAGR of 7.3% during the forecast period of 2024-2030. The shift towards a cleaner environment, rising fuel prices, advancements in motor technology, and energy efficiency standards are some of the driving factors that are bolstering the Europe Electric Motor Market Growth. The governments are incentivizing manufacturers to produce energy-efficient electric motors that consume less energy, emit lower carbon emissions, and produce less noise. The use of electric motors in hybrid and electric vehicles is a significant contributor to the growth of this market. The other sectors which have seen a surge in electric motor adoption include household appliances, HVAC, and industrial machinery. However, the high cost of production, supply chain interruptions, and lack of standardization are expected to pose major challenges to the market expansion. The production of electric motors requires significant investment in R&D, testing, and production facilities, which makes it expensive. The electric motor market in Europe is witnessing significant trends. One of the major trends is the increasing demand for high-power electric motors, especially in the automotive industry to power electric, hybrid cars, and autonomous vehicles. Another trend in the market is the deployment of IoT technology in electric motors to monitor their performance, reduce downtime, and improve efficiency. The focus on recyclability and sustainability in the production of electric motors is another trend in the market.
The EU has introduced a comprehensive policy to support sustainable and energy-efficient products, including motors. The directive stipulates the minimum energy performance standards for electric motors to enhance energy efficiency and minimize waste. The UK government has introduced policies to help users transition from traditional to energy-efficient motors. The government has initiated the Energy Technology List (ETL) programme that offers tax relief to industries purchasing motors fitted with high energy performance. Germany has been at the forefront of the renewable energy revolution for a couple of decades now. The German government is working towards promoting sustainable transportation by increasing adoption of electric mobility. The German government is offering incentives to citizens who purchase electric motor vehicles. This promotional government policy has created a conducive environment for electric motor manufacturers, and demand has increased significantly.
Some of the top players in the Europe electric motor industry include ABB, Siemens AG, Robert Bosch GmbH, and General Electric. These companies have significant market share and are renowned for their innovative and durable products.
By Motor Types, AC motors are the most widely used electric motors in Europe, followed by DC motors. AC motors find applications in various industries such as automotive, aerospace, and HVAC, due to their high efficiency and reliability. On the other hand, DC motors are widely used in household appliances, commercial kitchen equipment, and medical equipment.
According to Swati Singh, Senior Research Analyst, 6Wresearch, the 60 V & above have been dominating the Europe Electric Motor Market Share, owing to their high-power output and efficiency. However, the low voltage range motors, i.e., 9 V & below and 10-20 V, are expected to witness steady growth, driven by the rapid adoption of electric vehicles and the increasing use of electric motors in portable electronic devices.
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 Europe Electric Motor Market Overview |
3.1 Europe Regional Macro Economic Indicators |
3.2 Europe Electric Motor Market Revenues & Volume, 2020 & 2030F |
3.3 Europe Electric Motor Market - Industry Life Cycle |
3.4 Europe Electric Motor Market - Porter's Five Forces |
3.5 Europe Electric Motor Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Europe Electric Motor Market Revenues & Volume Share, By Motor Type, 2020 & 2030F |
3.7 Europe Electric Motor Market Revenues & Volume Share, By Output Power, 2020 & 2030F |
3.8 Europe Electric Motor Market Revenues & Volume Share, By Voltage Range, 2020 & 2030F |
3.9 Europe Electric Motor Market Revenues & Volume Share, By Application, 2020 & 2030F |
3.10 Europe Electric Motor Market Revenues & Volume Share, By Speed (RPM), 2020 & 2030F |
4 Europe Electric Motor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Europe Electric Motor Market Trends |
6 Europe Electric Motor Market, 2020-2030 |
6.1 Europe Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
6.2 Europe Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
6.3 Europe Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
6.4 Europe Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
6.5 Europe Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
7 Germany Electric Motor Market, 2020-2030 |
7.1 Germany Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
7.2 Germany Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
7.3 Germany Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
7.4 Germany Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
7.5 Germany Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
8 United Kingdom Electric Motor Market, 2020-2030 |
8.1 United Kingdom Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
8.2 United Kingdom Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
8.3 United Kingdom Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
8.4 United Kingdom Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
8.5 United Kingdom Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
9 France Electric Motor Market, 2020-2030 |
9.1 France Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
9.2 France Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
9.3 France Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
9.4 France Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
9.5 France Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
10 Italy Electric Motor Market, 2020-2030 |
10.1 Italy Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
10.2 Italy Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
10.3 Italy Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
10.4 Italy Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
10.5 Italy Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
11 Russia Electric Motor Market, 2020-2030 |
11.1 Russia Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
11.2 Russia Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
11.3 Russia Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
11.4 Russia Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
11.5 Russia Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
12 Spain Electric Motor Market, 2020-2030 |
12.1 Spain Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
12.2 Spain Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
12.3 Spain Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
12.4 Spain Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
12.5 Spain Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
13 Rest of Europe Electric Motor Market, 2020-2030 |
13.1 Rest of Europe Electric Motor Market, Revenues & Volume, By Motor Type, 2020-2030 |
13.2 Rest of Europe Electric Motor Market, Revenues & Volume, By Output Power, 2020-2030 |
13.3 Rest of Europe Electric Motor Market, Revenues & Volume, By Voltage Range, 2020-2030 |
13.4 Rest of Europe Electric Motor Market, Revenues & Volume, By Application, 2020-2030 |
13.5 Rest of Europe Electric Motor Market, Revenues & Volume, By Speed (RPM), 2020-2030 |
14 Europe Electric Motor Market Key Performance Indicators |
15 Europe Electric Motor Market - Opportunity Assessment |
15.1 Europe Electric Motor Market Opportunity Assessment, By Countries, 2020 & 2030F |
15.2 Europe Electric Motor Market Opportunity Assessment, By Motor Type, 2020 & 2030F |
15.3 Europe Electric Motor Market Opportunity Assessment, By Output Power, 2020 & 2030F |
15.4 Europe Electric Motor Market Opportunity Assessment, By Voltage Range, 2020 & 2030F |
15.5 Europe Electric Motor Market Opportunity Assessment, By Application, 2020 & 2030F |
15.6 Europe Electric Motor Market Opportunity Assessment, By Speed (RPM), 2020 & 2030F |
16 Europe Electric Motor Market - Competitive Landscape |
16.1 Europe Electric Motor Market Revenue Share, By Companies, 2023 |
16.2 Europe Electric Motor Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Company Profiles |
18 Recommendations |
19 Disclaimer |
Market Forecast by Countries (Germany, United Kingdom, France, Italy, Russia, Spain, Rest of Europe), 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: ETC058105 | Publication Date: Feb 2021 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Europeย Electric Motorย Marketย is projected to grow over the coming years. Europeย Electric Motorย Market is a part of our various regional publications globally. 6W tracksย Electric Motorย Market for over 60 countries with individual country-wise market opportunity assessment and publishes the report titled Globalย Electric Motorย Market outlook report annually.
Europe Electric Motor Market report thoroughly covers market by motor type, speed, voltage, application and Countries. 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.
Europe Electric Motor Market Synopsis
Europe Electric Motor Market is anticipated to project modest growth owing to the increasing advancement in technology. Adoption of modern technology in automotive industry backed by introduction of electric vehicle beholds the increasing growth of the market. Eco-consciousness living along with rising environment concern is accelerating the growth of the electric motor market. Entrance of key market players in electric vehicle industry triggers the potential growth of electric motor market.
According to 6Wresearch, Europe Electric Motor Market size is projected to register growth during 2021-2027. Longer operating life and high efficiency are some of the key factors driving the development of the market. The growing industrial sector beholds the increasing demand for heavy machinery further beholds the growth of Electric Market in Europe. Favorable government policies such as tax concession are likely to boost the demand for electric vehicle further leading to the growth of the electric motor Market. Strengthening of agriculture sector and increasing usage of machinery in irrigation facility is boosting the growth of the market. However, the outbreak of COVID-19 led to the disruption in supply chain further leading to the decline in the growth of the market.
Market Analysis by Voltage
On the basis of Voltage, 60V and above segment is anticipated to lead the market during the upcoming period on account of increasing development in industrial sector.
Other Related Reports:
ย Key Attractiveness of the Report
Key Highlights of the Report:
Market Segmentation:
The report provides a detailed analysis of the following market segments: