Electric DC Motors Market Research Report and Outlook by 2028

The worldwide market for electric DC motors is projected to expand from US$ 12,968.5 million in 2021 to US$ 23,639.4 million by 2028, reflecting a compound annual growth rate (CAGR) of 9.0% from 2021 to 2028.

In the Asia-Pacific (APAC) region, the electric DC motors market is further divided by country, including Australia, China, India, Japan, and South Korea. The strong automotive sector in this region has significantly fueled the demand for electric DC motors in recent years. Notably, both China and India have seen a remarkable increase in vehicle production, driven by the rising need for both commercial and passenger vehicles. In 2020, India produced 3,394,446 vehicles, while China led with 25,225,242 vehicles. The burgeoning automotive manufacturing landscape in APAC has been a key factor in the escalating demand for electric DC motors. Furthermore, China has also experienced substantial growth in the production of industrial equipment and home appliances. Factors such as increasing disposable incomes, rapid urbanization, and innovative marketing strategies from manufacturers have created a dynamic market environment in the APAC region. The growing urban population and the rise of middle-class households have led to heightened demand for home and kitchen appliances across the area. Major electric DC motor manufacturers based in APAC, including Yaskawa Electric Corporation, Johnson Electric Holdings Limited, Nidec Corporation, and MinebeaMitsumi, Inc., are making significant investments in product innovation and geographic expansion to broaden their global customer base. For instance, in February 2021, Johnson Electric Holdings Limited introduced LVDC motors designed for smart furniture applications.

The electric DC motor market is categorized based on type, speed, application, and geographical location. In terms of type, the market is divided into brushed DC motors and brushless DC motors, with the brushless segment holding a larger market share in 2020. Regarding speed, the market is classified into low (under 1,000 rpm), medium (1,001-25,000 rpm), and high (over 25,000 rpm), where the medium speed segment dominated the market in 2020. The applications of electric DC motors include industrial machinery, automotive and transportation, HVAC systems, aerospace and defense, household appliances, and others, with the household appliances segment accounting for the largest share in 2020. Geographically, the electric DC motor market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South and Central America, with APAC holding the largest share of the global market in 2020.

The electric DC motors market in the MEA region has faced challenges due to disruptions in the supply chain of raw materials. The COVID-19 pandemic led to the suspension of numerous economic activities, resulting in a notable decline in demand for new air conditioning units, televisions, and refrigerators. This downturn adversely affected the market for electric DC motors supplied by HVAC and consumer electronics manufacturers. End-users in the MEA region, who heavily depend on international suppliers, encountered significant supply chain interruptions during the early months of 2020. However, as operations began to resume in the third quarter of 2020, there was a resurgence in demand for various semiconductor products, including electric DC motors.

The size of the electric DC motor market has been determined through both primary and secondary research methodologies. The initial phase involved extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This data provided a comprehensive overview and forecast for all segments of the electric DC motor market. The research also included an analysis and forecast of the market based on the segmentation across five key regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Additionally, primary interviews were conducted with industry professionals, including vice presidents, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the electric DC motor sector. These primary interviews were essential for validating the collected data and obtaining deeper analytical insights into the market.

Key players in the global electric DC motor market include ABB Ltd, AMETEK Inc., Yaskawa Electric Corporation, Johnson Electric Holdings Limited, Nidec Corporation, Siemens AG, Allied Motion Technologies Inc., MinebeaMitsumi, Inc., Maxon Motors AG, and Regal Rexnord Corporation.