The electric DC motors market size is projected to reach US$ 29811.77 million by 2031 from US$ 14965.81 million in 2023. The market is expected to register a CAGR of 9% during 2023–2031. Increasing adoption of automated lighting systems is likely to remain a key trend in the market.
Heating, ventilation, and air conditioning (HVAC) systems maintain air quality and provide thermal comfort. The US Department of Energy estimates that the demand for HVAC equipment was 10% higher in 2021 than in 2020. HVAC systems are a crucial component of modern infrastructure, particularly in large office buildings and commercial malls. Electric DC motors are often employed in HVAC systems to increase their lifespan, power, and airflow efficiency. Expansions of commercial spaces; construction of new corporate hubs, office buildings, organized retail stores, and residential complexes; and rising income levels in Southeast Middle Eastern and Asian countries have made HVAC equipment highly accessible to consumers.
One kind of electric machine that transforms electrical energy into mechanical energy is a direct current (DC) motor. DC motors use direct current electricity to generate mechanical spin from the energy they receive. DC motors employ magnetic fields created by the electrical currents flowing through them to drive a rotor that is fixed inside the output shaft. The electrical input and the motor's design both affect the torque and speed of the output. A stator and an armature are the two main parts of a DC motor. In a motor, the armature rotates while the stator remains motionless. The armature of a DC motor rotates because of the magnetic field generated by the stator. An electromagnetic field that is aligned with the coil's center is produced by a simple DC motor using a coil of wire that is current-driven and a set of stationary magnets in the stator.
The adoption of brushless DC motors is increasing as various companies are launching these motors. For instance, in January 2021, Portescap added the 16ECS high-speed brushless motor to its Ultra EC™ mini brushless DC motor platform. These compact 16-millimeter motors are available in 36- and 52-mm lengths and provide high power while running at speeds of 75,000 rpm. Similarly, in February 2023, Johnson Electric announced the launch of our ECI-043 brushless DC motor platform. Thus, with the introduction of brushless DC motors, the market is growing.
Some of the world’s largest automotive OEMs, manufacturing plants established in the various American regions that manufacture passenger cars, trucks, buses, and other off-highway vehicles, have undertaken various electrification initiatives. For instance, in July 2021, Stellantis had planned to invest around US$35.5 billion in vehicle electrification through 2025. Furthermore, Stellantis joins automakers such as General Motors, Volkswagen, and Ford Motor in announcing investments of tens of billions of dollars in EVs. California state in the US, one of the world's largest automotive manufacturing hubs, has started providing incentives and mandates to automotive OEMs for zero-emission vehicles. For instance, in August 2022, The California Air Resources Board approved the trailblazing Advanced Clean Cars II regulation to accelerate 100% new zero-emission vehicle sales by 2035. Thus, the increasing adoption of EVs is creating more opportunities for the market.
Key segments that contributed to the derivation of the electric DC motors market analysis are type, speed, and application.
The geographic scope of the electric DC motors market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
APAC dominates the electric DC motors market. The electric DC motors market in this region is growing due to various factors, such as increasing government initiatives to improve the visibility of tunnel lighting and the presence of a well-established transportation industry.
The regional trends and factors influencing the Electric DC Motors Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Electric DC Motors Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 14965.81 Million |
| Market Size by 2031 | US$ 29811.77 Million |
| Global CAGR (2023 - 2031) | 9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Electric DC Motors Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Electric DC Motors Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The electric DC motors market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the electric DC motors market are listed below:
The “Electric DC Motors Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Europe dominates the electric DC motors market.
Increasing adoption of brushless DC motors and increasing adoption of EVs are the major factors that propel the global electric DC motors market.
Increasing adoption of automated lighting systems is anticipated to play a significant role in the global electric DC motors market in the coming years.
The key players holding majority shares in the global electric DC motors market are ABB, Allied Motion Inc., Ametek Inc., Yaskawa Electric Corp, Minebeamitsumi Inc., Johnson Electric Holdings Limited, Maxon Motor AG, NIDEC Corporation, Regal Rexnord Corporation, and Siemens AG.
The global electric DC motors market is expected to reach US$ 29811.77 million by 2031.
The expected CAGR of the global electric DC motors market is 9%.