Lately, I’ve seen an avalanche of announcements about new electric motor market research reports. So, this morning when I saw this Tweet I just had to do a post to somehow put all this electric motor market research into perspective.
Whats your share of the $70 Billion PT/MC Market? Find out w/ PTDA’s revised PT/MC Market Size Report! https://t.co/UX4gQHsCW0
— PTDA (@PTDAorg) December 12, 2016
No knock on the Power Transmission Distributors Association: they publish very good industry economic reports. But, to answer their question, if you have a $50 million company and next year you miraculously double sales to $100 million you’d still be the proud holder of only fourteen one-hundredths of one percent market share!
My point is, the value of such macro level electric motor market research reports to 98% of motor companies is minimal at best.
I think we can agree that the global electric motor industry is big. Researchers put it at anywhere from $75-90+ billion. And it’s growing nicely. Anywhere from 4 to 8% CAGR, depending on the type of motors you make and where your customers are located. By 2020, the global market for electric motors will be anywhere from $120 to $130 billion, if the prognosticators are correct.
From my perspective, if the fundamentals are sound and you do the right things your growth is assured. But, which right things you choose and how you address them are the keys to exceptional growth in the motor market.
But, who’s buying all these electric motor market research reports? It seems like every week a new one appears and it all has to be monumentally confusing to anyone trying to get a handle on the electric motor market.
This profusion of electric motor market research is truly mind-boggling. The following are just a few of the reports announced in the past 90 days:
“Electric Motors Market Report” Allied Market Research
Global market is expected to garner $129 billion by 2020, registering a CAGR of 5.3% during the period 2015-2020. In 2014, Asia Pacific accounted for the highest revenue generating region in world electric motors market followed by Europe. The segment of hermetic motor would register a rapid CAGR of 7.4% during the forecast period. Among the different applications, motor vehicles constitute the largest share of over 50% in the global electric motors market. Brushless DC motor is the leading segment in the DC motor market, forecast to register CAGR of 4.6% during 2015 – 2020
“Global Electric Motor Market Size, Share, Development, Growth and Demand Forecast to 2022” Research and Markets
The global electric motor market is being driven by increasing usage of electric motors across several industries, by increasing compliance for energy efficient electric motors, by growing demand from residential and commercial sectors, and by increasing replacement of outdated electric motors. The global electric motor (EMS) market was valued at $85.7 billion in 2015, which it is expected to grow at a CAGR of 6.5% during the forecast period. Asia-Pacific was the largest electric motors market in 2015 and it is expected to continue being the largest market during the forecast period.
“Global Industrial Electric Motor Industry 2016” QY Market Research
Global Industrial Electric Motor Market Research 2016 report has Forecasted Compound Annual Growth Rate (CAGR) in % value for particular period, that will help user to take decision based on futuristic chart. Report also includes key players in global Industrial Electric Motor market.
“Smart Motor Market: Global Industry Analysis and Forecast 2016 – 2022” Persistence Market Research
Smart motor is a highly programmable digital motor which can be programmed and work accordingly as per requirement of application. It can easily store the information related to its speed and can change it immediately with the single pressing of a button or after a particular given time. These smart motor is integrated with an encoder, an amplifier, motor driver, communication buses, dual port Ethernet port, and USB interface for programming, remote terminal unit (RTU), half duplex communication port and IOs. The microcontroller integrated with smart motor detects the presence of load on the shaft and correspondingly adjust the power extraction to the load. The main specialty of the smart motor is its ability to produce highest torque at lowest speed. The technological advancement and innovation brings the smart motor to completely new stage, now smart motors can support industrial Ethernet protocol including Ether CAT and PROFINET. The main applications of this smart motor is in industrial automation and robotics applications, which are undoubtedly the emerging sectors across the globe and hence the demand of smart motor is also rising up in global market.
The key trend of global smart motor market is the tremendous increment in the demand of smart motor for the application in the industrial automation.
“Global and China Automotive Electric Motor Industry Report, 2016-2020” Research and Markets
In 2015, the global automotive electric motor shipments approximated 3.47 billion units, up 6.7% from a year ago; the figure will go up to 3.64 billion units in 2016. With the development of intelligent and new energy vehicles, the global shipments of automotive electric motor are expected to grow at a compound annual rate of around 9.0% during 2016-2020.
By installation position, automotive electric motors can be divided into body motors, chassis motors, and powertrain motors, of which body motors find widest applications, including in power seats, electric windows, and electric rearview mirrors, etc. On average, one car needs about 24 units of body motor. In 2015, the global shipments of automotive body motor totalled 2.16 billion units, accounting for 62.3% of those of automotive electric motor. We project that the figure will rise to 2.31 billion units in 2016 and 3.18 billion units in 2020.
“Electric Motors Market (AC motors, DC motors, Hermetic motors) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019” Transparency Market Research
The worldwide market for electric motors is expected to be worth an estimated US$120.68 billion by 2019, growing at a 6.3% CAGR during 2013-2019. Electric motors has a wide area of applications in numerous industries and functions such as motor vehicles, household appliances, industrial machinery, aerospace and other transportation equipment, HVAC equipments, and commercial industry.
“Electric Motor Sales Market – Global Forecast to 2020” MarketsandMarkets
Electric motors market is expected to grow from an estimated USD 91.75 Billion in 2015 to $125.02 Billion by 2020, at a CAGR of 6.38% from 2015 to 2020. Low voltage electric motor sales market is expected to dominate the market with a lion’s share of around 67% by 2020. Asia-Pacific is expected to lead the market by 2020, growing at a CAGR of 7.96% from 2015 to 2020.
“Electric Motors for Electric Vehicles 2017-2027” IDTechEx
The booming, confusing traction motor business will rise to around $400 billion in 2027. Rotating electric machines (REM) are taking a larger share of cost over the years as simpler batteries reduce in cost. By contrast, REM systems are variously being asked to grab regenerative energy, eliminate transmission, provide better speed/ torque characteristics and even form part of the structure such as tucked into the wheel with brake and controller. In hybrids add takeoff.
“Global Electric Steering Market Research Report – Forecast to 2022” Market Research Future
Growth in the improved steering & reliability, and high fuel efficiency of electric steering over hydraulic steering systems is expected to drive the market of electric steering. The global electric steering market is expected to show a growth at CAGR of about 15% from 2016 to 2021. Asia-Pacific has emerged to be fastest growing market for electric steering market.
“Global Motor Starters Market 2016-2020” Technavio
The most effective method of reducing the consumption of electrical energy in motors is by controlling the speed of a motor with the help of motor starters. Also, the need to reduce maintenance costs and machine downtime that induced industries to automate their business processes will also result in the adoption of motor control centers or MCC in the coming years. The global motor starters market will grow steadily at a CAGR of almost 5% by 2020.
“Global EV Traction Motor Market by Manufacturers, Regions, Type and Applications, Forecast to 2021” 360 Market Updates
A traction motor is an electric motor used for propulsion of a vehicle, such as an electric locomotive or electric roadway vehicle. This report focuses on the EV Traction Motor in Global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.
“Global Permanent Magnet Synchronous Motor (PMSM) Sales Market by Manufacturers, Regions, Type and Application, Forecast to 2021” 360 Market Updates
A permanent magnet synchronous motor (PMSM) uses permanent magnets embedded in the steel rotor to create a constant magnetic field. The stator carries windings connected to an AC supply to produce a rotating magnetic field. At synchronous speed the rotor poles lock to the rotating magnetic field. Permanent magnet synchronous motors are similar to brushless DC motors. The Permanent Magnet Synchronous Motor industry reports includes market opportunities, drivers, restraints, key player profile & their strategies, challenges and investment potential.
“Servo Motors and Drives Market: Global Industry Analysis and Forecast 2016 – 2024” Persistence Market Research
Servo motors are segmented based on the technology as DC brushless, DC Brushed, AC motors and linear servo motors. Similarly, servo drives are segmented as DC servo drives, AC servo drives and adjustable speed drives. When compared to other competing technologies such as stepper motors, future markets would rely on servo systems to exploit the market opportunities because of its high accuracy and speed. Light weight machines, reduced size, increase in speed and higher torque are providing huge market opportunities.
The common thread with these many electric motor market research reports is that they all cost several thousand dollars and you’re likely to get a report that’s heavy on boiler plate and extrapolations from government figures that aren’t very reliable to start with.
But, from my perspective the fact that they keep generating new electric motor market research reports is a good indicator of the health of the industry.