NEW YORK, July 28, 2023 /PRNewswire/ — The electric motors accessories market size is estimated to increase by USD 1,160.06 million from 2022 to 2027, at a CAGR of 5.43%, according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report –Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.



Find Technavio’s Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The Electric Motors Accessories Market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed below –

ABB Ltd., Bodine Electric Co., Brook Crompton UK Ltd., Danfoss AS, ESR Pollmeier Gmbh, Kollmorgen Corp., Lenze SE, MSC Industrial Direct Co. Inc., Nanotec Electronic GmbH and Co. KG, Nidec Corp., Oriental Motor Co. Ltd., Parker Hannifin Corp., Regal Rexnord Corp., Sdtronics Pvt. Ltd., Selec Controls Pvt. Ltd. KB, Siemens AG, TAMAGAWA SEIKI Co. Ltd., TVH Parts Holding NV, WEG Equipamentos Eletricos S.A., and Yaskawa Electric Corp. Download a Sample Report

Electric Motors Accessories Market – Segmentation Analysis

The electric motors accessories market report extensively covers market segmentation by channel (aftermarket and OEM), end-user (automotive, household appliances, HVAC, industrial machinery, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

The market share growth by the aftermarket segment will be significant for market growth during the forecast period. Factors such as the growing consumer awareness about the maintenance and repair to extend the useful life of products such as vehicles, appliances, and water pumps are significantly contributing to the growth of this segment in the global electric motors accessories market. This segment comprises the manufacture, remanufacture, distribution, redistribution, retail, resale, and installation of electric motor accessories. Additionally, it also includes the replacement of electric motor accessories post the sale to maintain efficiency and mobility throughout the lifetime of the electric motor. Hence, such factors are expected to drive market growth during the forecast period.

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Electric Motors Accessories Market – Market Dynamics

Key Drivers

Government subsidies and incentives for electric vehicles drive the global electric motors accessories market growth during the forecast period. Several government funding, incentives, and subsidies are significantly fuelling the manufacturing as well as wider adoption of electric vehicles which are significantly contributing to the market growth. As the manufacturing of energy-efficient electric motor accessories must comply with stringent designs and production requirements, it is positively impacting the market. There is an increasing government focus on energy-efficient motors due to the growth of industrial and construction sectors leading to the high growth of electric motor accessories globally. Hence, such factors are expected to drive the global electric motors accessories market growth during the forecast period.

Significant Trends

The growing demand for HVAC systems is a primary trend in the global electric motors accessories market during the forecast period. There is an increase in demand for HVAC systems across sectors such as residential, commercial, and industrial end users due to its several benefits, such as maintaining indoor air quality and offering thermal comfort. HVAC systems are one of the essential components of modern infrastructure, such as large offices and shopping complexes. There is wide adoption of electric motor accessories in HVAC systems in order to increase life and performance as well as achieve high airflow system efficiency. Furthermore, the rapid expansion of industrial and commercial sectors in China and India has significantly fuelled the demand for HVAC systems which has positively impacted the market. Hence, such factors are expected to drive the global electric motor accessories market growth during the forecast period.

Major Challenges

Limitations of power rating are a major challenge that significantly hinders the global electric motors accessories market growth during the forecast period. High-performance electric motor accessories require strong permanent magnets which are very expensive and hence add to the overall cost of manufacturing. The strong permanent magnets are manufactured from rare earth materials such as neodymium whose prices tend to fluctuate due to its limited availability in some countries such as China and Australia. Furthermore, several incidences of trade wars in which China has limited the export of such rare metals which has significantly contributed to the huge supply and demand gap, which has influenced the neodymium prices. Hence, such factors are expected to hinder the global electric motors accessories market growth during the forecast period.

Electric Motors Accessories Market – Regional Analysis

The market is segmented by region APAC, Europe, North America, South America, and Middle East and Africa. An analysis of key leading countries has been included.

• APAC is estimated to account for 55% of the growth of the global market during the forecast period. Factors such as growth in the agricultural sector and increase in investment in industrialization by several countries including China, India, South Korea, and Australia, have significantly contributed to the global electric motors accessories market growth in the region. Additionally, there is an increase in the manufacturing and sales of electric vehicles in several countries, such as China and Japan and the rising presence of established OEMs such as Honda Motor Co., Ltd., Hyundai Motor Co., Toyota Industries Co., Ltd., and Nissan Motor Co., Ltd. is fuelling the demand for global electric motors accessories in APAC region. Hence, such factors are expected to drive the global electric motors accessories market growth in the region during the forecast period.

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What are the key data covered in this Electric Motors Accessories Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the electric motors accessories market between 2023 and 2027
• Precise estimation of the electric motors accessories market size and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the electric motors accessories market across APAC, Europe, North America, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of electric motors accessories market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electric motors accessories market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global electric motors accessories market 2017 – 2021 ($ million)

• 4.2 Channel Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Channel Segment 2017 – 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Channel

• 6.1 Market segments
• Exhibit 30: Chart on Channel – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Channel – Market share 2022-2027 (%)

• 6.2 Comparison by Channel 
• Exhibit 32: Chart on Comparison by Channel
• Exhibit 33: Data Table on Comparison by Channel

• 6.3 Aftermarket – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Aftermarket – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Aftermarket – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Aftermarket – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Aftermarket – Year-over-year growth 2022-2027 (%)

• 6.4 OEM – Market size and forecast 2022-2027 
• Exhibit 38: Chart on OEM – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on OEM – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on OEM – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on OEM – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Channel 
• Exhibit 42: Market opportunity by Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Channel ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 44: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user

• 7.3 Automotive – Market size and forecast 2022-2027 
• Exhibit 48: Chart on Automotive – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Automotive – Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Automotive – Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Automotive – Year-over-year growth 2022-2027 (%)

• 7.4 Household appliances – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Household appliances – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Household appliances – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Household appliances – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Household appliances – Year-over-year growth 2022-2027 (%)

• 7.5 HVAC – Market size and forecast 2022-2027 
• Exhibit 56: Chart on HVAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on HVAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on HVAC – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on HVAC – Year-over-year growth 2022-2027 (%)

• 7.6 Industrial machinery – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Industrial machinery – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Industrial machinery – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Industrial machinery – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Industrial machinery – Year-over-year growth 2022-2027 (%)

• 7.7 Others – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by End-user 
• Exhibit 68: Market opportunity by End-user ($ million)
• Exhibit 69: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027 
• Exhibit 95: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027 
• Exhibit 99: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Japan – Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 France – Market size and forecast 2022-2027 
• Exhibit 111: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 ABB Ltd.
• Exhibit 123: ABB Ltd. – Overview
• Exhibit 124: ABB Ltd. – Business segments
• Exhibit 125: ABB Ltd. – Key offerings
• Exhibit 126: ABB Ltd. – Segment focus

• 12.4 Bodine Electric Co.
• Exhibit 127: Bodine Electric Co. – Overview
• Exhibit 128: Bodine Electric Co. – Product / Service
• Exhibit 129: Bodine Electric Co. – Key offerings

• 12.5 ESR Pollmeier Gmbh
• Exhibit 130: ESR Pollmeier Gmbh – Overview
• Exhibit 131: ESR Pollmeier Gmbh – Product / Service
• Exhibit 132: ESR Pollmeier Gmbh – Key offerings

• 12.6 Lenze SE
• Exhibit 133: Lenze SE – Overview
• Exhibit 134: Lenze SE – Product / Service
• Exhibit 135: Lenze SE – Key offerings

• 12.7 MSC Industrial Direct Co. Inc. 
• Exhibit 136: MSC Industrial Direct Co. Inc. – Overview
• Exhibit 137: MSC Industrial Direct Co. Inc. – Product / Service
• Exhibit 138: MSC Industrial Direct Co. Inc. – Key offerings

• 12.8 Nanotec Electronic GmbH and Co. KG 
• Exhibit 139: Nanotec Electronic GmbH and Co. KG – Overview
• Exhibit 140: Nanotec Electronic GmbH and Co. KG – Product / Service
• Exhibit 141: Nanotec Electronic GmbH and Co. KG – Key offerings

• 12.9 Nidec Corp.
• Exhibit 142: Nidec Corp. – Overview
• Exhibit 143: Nidec Corp. – Business segments
• Exhibit 144: Nidec Corp. – Key news
• Exhibit 145: Nidec Corp. – Key offerings
• Exhibit 146: Nidec Corp. – Segment focus

• 12.10 Oriental Motor Co. Ltd. 
• Exhibit 147: Oriental Motor Co. Ltd. – Overview
• Exhibit 148: Oriental Motor Co. Ltd. – Product / Service
• Exhibit 149: Oriental Motor Co. Ltd. – Key offerings

• 12.11 Parker Hannifin Corp. 
• Exhibit 150: Parker Hannifin Corp. – Overview
• Exhibit 151: Parker Hannifin Corp. – Business segments
• Exhibit 152: Parker Hannifin Corp. – Key news
• Exhibit 153: Parker Hannifin Corp. – Key offerings
• Exhibit 154: Parker Hannifin Corp. – Segment focus

• 12.12 Regal Rexnord Corp.
• Exhibit 155: Regal Rexnord Corp. – Overview
• Exhibit 156: Regal Rexnord Corp. – Business segments
• Exhibit 157: Regal Rexnord Corp. – Key offerings
• Exhibit 158: Regal Rexnord Corp. – Segment focus

• 12.13 Siemens AG
• Exhibit 159: Siemens AG – Overview
• Exhibit 160: Siemens AG – Business segments
• Exhibit 161: Siemens AG – Key news
• Exhibit 162: Siemens AG – Key offerings
• Exhibit 163: Siemens AG – Segment focus

• 12.14 TAMAGAWA SEIKI Co. Ltd. 
• Exhibit 164: TAMAGAWA SEIKI Co. Ltd. – Overview
• Exhibit 165: TAMAGAWA SEIKI Co. Ltd. – Product / Service
• Exhibit 166: TAMAGAWA SEIKI Co. Ltd. – Key offerings

• 12.15 TVH Parts Holding NV
• Exhibit 167: TVH Parts Holding NV – Overview
• Exhibit 168: TVH Parts Holding NV – Product / Service
• Exhibit 169: TVH Parts Holding NV – Key offerings

• 12.16 WEG Equipamentos Eletricos S.A. 
• Exhibit 170: WEG Equipamentos Eletricos S.A. – Overview
• Exhibit 171: WEG Equipamentos Eletricos S.A. – Business segments
• Exhibit 172: WEG Equipamentos Eletricos S.A. – Key offerings
• Exhibit 173: WEG Equipamentos Eletricos S.A. – Segment focus

• 12.17 Yaskawa Electric Corp. 
• Exhibit 174: Yaskawa Electric Corp. – Overview
• Exhibit 175: Yaskawa Electric Corp. – Business segments
• Exhibit 176: Yaskawa Electric Corp. – Key offerings
• Exhibit 177: Yaskawa Electric Corp. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

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