North America Electric Motor Market 2021-2026: Share, Size, Growth, Trends, Outlook, and Forecast Report

According to the latest report by IMARC Group, titled "North America Electric Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the North America electric motor market reached a value of US$ 19.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. An electric motor refers to an electro-mechanical device that converts electric energy into mechanical energy. It operates on the principle of electromagnetism, wherein a current-carrying conductor experiences force in the presence of a magnetic field. An electric motor involves rotors, bearings, windings, air gap, and commutator. It exhibits long operational life, high durability, reduced energy consumption, low maintenance, and increased endurance for fluctuating voltages. On account of these benefits, electric motors are widely utilized in the manufacturing of industrial fans, machine tools, domestic appliances, and electric cars.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends:

The emerging trend of automation across several sectors, due to rapid technological advancements, is majorly driving the electric motor market in North America. Additionally, these devices are increasingly being utilized in the agriculture industry for long operational life and enhanced functionality, which is further contributing to the market growth. Moreover, increasing environmental concerns have led to the large-scale replacement of fuel-based vehicles, which is further creating a positive outlook for the market in the region.

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Key Market Segmentation:

Breakup by Type:

• AC Motor
  • Induction AC Motor
  • Synchronous AC Motor
• DC Motor
  • Brushed DC Motor
  • Brushless DC Motor
• Others

Breakup by Voltage:

• Low Voltage Electric Motors
• Medium Voltage Electric Motors
• High Voltage Electric Motors

Breakup by Speed:

• Ultra-High-Speed Motors
• High-Speed Motors
• Medium Speed Motors
• Low Speed Motors

Breakup by Applications:

• Industrial Machinery
• HVAC
• Transportation
• Household Appliances
• Motor Vehicles
• Others

Breakup by Region:             

• United States
• Canada

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Key highlights of the Report:

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.