Electric Dc Motors Market to Exhibit Growth at a Massive CAGR of 10% From 2024 To 2033
According to Custom Market Insights (CMI), The Global Electric DC Motors Market size was estimated at USD 18.6 billion and is anticipated to reach around USD 27.7 billion by 2030, growing at a CAGR of roughly 10% between 2022 and 2030. Our research report offers a 360-degree view of the Electric DC Motors market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Electric DC Motors market.
Electric DC Motors Market: Overview
Electric DC motors are frequently employed in various industrial applications to carry out various industrial operations. Electric DC motors are used for energy conversion in almost every mechanical advancement since they transform electrical energy into mechanical energy. The steady expansion of industrial automation primarily drives the market for electric DC motors.
Several industry sectors have incorporated industrial automation components in the past few years. Industries are changing their business procedures to compete in the fast-paced commercial environment. During the projected period, these factors are anticipated to support the expansion of the worldwide electric DC motor market.
Browse the full “Electric DC Motors Market Size, Trends and Insights By Type (Brushed, Brushless), By Voltage (0 – 750 Watt, 750 Watts – 3 kW, 3kW – 75 kW, Above 75kW), By End-use Industries (Industrial Machinery, Household Appliances, HVAC Equipment, Motor Vehicles, Aerospace & Transportation, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report athttps://www.custommarketinsights.com/report/electric-dc-motors-market/
Growth Factors
Future demand for DC type is anticipated to be enormous because of factors including the concerted efforts of governments worldwide to promote manufacturing and the growing popularity of electric vehicles. Numerous countries have revised their energy regulation rules due to the excessive usage of conventional energy sources, such as fuels, and their quick depletion. Utilizing these motors results in cleaner consumption and cost-effective cost reduction.
The rate at which industrial industries are automating and modernizing their processes is dangerously high due to the increasing demand for goods. A significant level of modernization has also been achieved in conventional agricultural machinery, which makes considerable use of DC motors. Due to rising demand brought on by these factors, the electric DC motors market is anticipated to grow throughout the forecast period.
Segmental Overview
The market for Electric DC Motors is segmented into packaging type, voltage, and end-use industries. Based on the end-use industries, the market for the industrial machinery segment is anticipated to dominate throughout 2022-2030. The market for electric DC motors has been competitive for a long period. It has several applications in the bulk of industrial machinery due to its availability on the market before the industrial revolution. Due to its capacity to promote efficient operations and provide precise motion control, the DC type has been increasingly adopted in this industry due to the rise of building automation systems.
The motor vehicle segment is also anticipated to increase strongly during the projection period. The two main reasons propelling the global market growth are increased demand for electric vehicles and expanding automobile production.
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Regional Overview
The Asia Pacific region will lead the electric DC motor market in 2021. Over the projection period, developed regions like North America and Europe are anticipated to experience consistent expansion. The demand for these motors is anticipated to increase over the next several years as the U.S. government encourages the production of electric vehicles. The industry in Europe is also being driven by government subsidy programs for electric vehicles to protect the environment from carbon emissions.
Key Players Insights
The competitive landscape for the system in package (SIP) market includes information from competitors. The company’s financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, global presence, production capacities, product launch, company strengths and weaknesses, product width and breadth, and application dominance are among the details that are included. The abovementioned data points are limited to the companies’ system in package (SIP) market-related focus.
Some of the prominent players
- Allied Motion Inc.
- ABB
- Ametek Inc
- Minebeamitsumi Inc.
- Johnson Electric Holdings Limited
- Yaskawa Electric Corp
- Maxon Motor AG
- NIDEC Corporation
- Siemens AG
- Regal Rexnord Corporation
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