Summary

The electric motors market is estimated to reach USD 206.4 billion by 2029 from an estimated value of USD 152.2 billion in 2024, at a CAGR of 6.3% during the forecast period. The rising demand for HVAC systems among residential, commercial, and industrial end-users, the growing demand for electric motors in manufacturing industries, and the increasing demand for energy-efficient motors are the major driving factors for the electric motors market. “AC Motors: The largest segment of the electric motors market, by type.” By type, the electric motors market was segmented into two categories: AC Motors and DC Motors. The segment, AC Motors, is expected to capture the largest share of the market by type. AC motors are a class of electric motors that are driven by alternating current. Applications involving these motors require power performance for a long duration. The applications for AC motors are found in air conditioners, washers, dryers, industrial machinery, fans, blowers, vacuum cleaners, and other appliances. “Industrial segment is expected to emerge as the largest segment by end-user.” Based on end-user, the electric motors market has been segmented into Industrial, Commercial, Residential, Transportation and Agriculture. The Industrial segment is expected to hold the largest market share during the forecast period because of growing applications and increased usage of electric motors in the industrial sector, which are energy-efficient, low noise-producing devices, and provide excellence in reliability. The industrial sector embraces automation technologies to increase production efficiency. “2.2–375 kW segment is expected to emerge as the second largest segment based on power rating” By power rating, the electric motors market has been segmented into <1 kW, 1–2.2 kW, 2.2–375 kW, 375-900 kW, and > 900 kW. The 2.2–375 kW segment is expected to be the second largest during the forecast period. The major contributors in modernizing infrastructure are developed nations currently, the market for 2.2–375 kW electric motors in Asia Pacific and Europe is being pushed by this factor, along with the rise in urban population and industrialization in developing nations. “North America is expected to be the second fastest region in the electric motors market.” North America is expected to be the second-fastest region in the electric motors market between 2024-2029. The North American market consists of US, Canada, and Mexico. Demand for electric motors in North America is driven by the emerging electric vehicle market, where electric motors are a key part of EV drivetrains. Companies like Tesla, Ford, and General Motors drive this demand to a great extent. Growth factors include increasing demand due to the adoption of energy-efficient motors and the abundance of the electric vehicle industry. Breakdown of Primaries: In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11% By Designation: C-Level- 30%, Director Levels- 25%, and Others- 45% By Region: North America- 27%, Europe- 20%, Asia Pacific- 33%, the Middle East & Africa- 8%, and South America- 12% Note: Others include product engineers, product specialists, and engineering leads. Note: The tiers of the companies are defined based on their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million The Electric motors market is dominated by a few major players that have a wide regional presence. The leading players in the Electric motors market are ABB (Switzerland), Siemens (Germany), NIDEC CORPORATION (Japan), Wolong Electric Group (China) and WEG (Brazil). Research Coverage: The report defines, describes, and forecasts the electric motors market, by type, by rotor type, by Voltage, by Power rating, by Output power, by end user for various regions. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the electric motors market. Key Benefits of Buying the Report • The electric motors market is driven by factors such as growing demand from residential, commercial, and industrial end users for HVAC systems. Fluctuating raw material prices and stringent regulatory standards restrain growth in the electric motors market. Opportunities include robotics technology and a global switch to electric vehicles. Few challenges this market faces are issues with shortages of components and their supply chains. • Product Development/ Innovation: Other such developments, like the Variable Frequency Drives - VFDs, represent one of the key trends in the development of electric motors. VFD is a drive mechanism controlling the magnitude of output voltage and frequency supplied to the motor to control its speed and torque. By this mechanism, the motors can operate at an optimum speed relative to the demands of a given application, which in turn enables the completion of strong energy savings with increased efficiency. • Market Development: Electric motors development is in the way of electric mobility because of significant changes in electric vehicle technology. Energy security favorable policies by government, advancement in electric vehicles and emerging robotics technologies create electric motors market growth. • Market Diversification: ABB acquired the Siemens low voltage NEMA motor business as part of its profitable growth strategy in the Motion Business Area. The acquisition of the business strengthened ABB's position as a leading industrial NEMA motor manufacturer and provides an even stronger platform from which ABB can better serve its global customers. • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ABB (Switzerland), Siemens (Germany), NIDEC CORPORATION (Japan), Wolong Electric Group (China) and WEG (Brazil) among others in the electric motors market.

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Table of Contents

1 INTRODUCTION 43 1.1 STUDY OBJECTIVES 43 1.2 MARKET DEFINITION 43 1.3 INCLUSIONS AND EXCLUSIONS 44 1.3.1 ELECTRIC MOTORS MARKET, BY TYPE 44 1.3.2 ELECTRIC MOTORS MARKET, BY POWER RATING 44 1.3.3 ELECTRIC MOTORS MARKET, BY VOLTAGE 44 1.3.4 ELECTRIC MOTORS MARKET, BY END USER 44 1.3.5 ELECTRIC MOTORS MARKET, BY ROTOR TYPE 45 1.3.6 ELECTRIC MOTORS MARKET, BY OUTPUT POWER 45 1.4 MARKET SCOPE 46 1.4.1 ELECTRIC MOTORS MARKET SEGMENTATION 46 1.4.2 YEARS CONSIDERED 47 1.5 UNITS CONSIDERED 47 1.6 CURRENCY CONSIDERED 47 1.7 LIMITATIONS 47 1.8 STAKEHOLDERS 48 1.9 SUMMARY OF CHANGES 48 2 RESEARCH METHODOLOGY 50 2.1 RESEARCH DATA 50 2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 51 2.2.1 SECONDARY DATA 52 2.2.1.1 Key data from secondary sources 52 2.2.2 PRIMARY DATA 52 2.2.2.1 Key data from primary sources 53 2.2.2.2 Breakdown of primaries 53 2.3 METRICS CONSIDERED FOR ASSESSING DEMAND FOR ELECTRIC MOTORS 54 2.4 MARKET SIZE ESTIMATION 54 2.4.1 BOTTOM-UP APPROACH 54 2.4.1.1 Approach to derive market size using bottom-up analysis 54 2.4.2 TOP-DOWN APPROACH 55 2.4.2.1 Approach to derive market size using top-down analysis 55 2.4.3 DEMAND-SIDE ANALYSIS 56 2.4.3.1 Calculations 56 2.4.3.2 Assumptions 57   2.4.4 SUPPLY-SIDE ANALYSIS 58 2.4.4.1 Calculations 58 2.4.4.2 Assumptions 60 2.4.5 FORECAST 61 3 EXECUTIVE SUMMARY 62 4 PREMIUM INSIGHTS 67 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC MOTORS MARKET 67 4.2 ELECTRIC MOTORS MARKET IN ASIA PACIFIC, BY TYPE AND COUNTRY 67 4.3 ELECTRIC MOTORS MARKET, BY TYPE 68 4.4 ELECTRIC MOTORS MARKET, BY POWER RATING 68 4.5 ELECTRIC MOTORS MARKET, BY VOLTAGE 69 4.6 ELECTRIC MOTORS MARKET, BY ROTOR TYPE 69 4.7 ELECTRIC MOTORS MARKET, BY OUTPUT POWER 69 4.8 ELECTRIC MOTORS MARKET, BY END USER 70 5 MARKET OVERVIEW 71 5.1 INTRODUCTION 71 5.2 MARKET DYNAMICS 71 5.2.1 DRIVERS 72 5.2.1.1 Increasing demand for HVAC systems in residential, commercial, and industrial sectors 72 5.2.1.2 Growing demand in manufacturing industries 72 5.2.1.3 Adoption of industrial automation and robotics and shift toward smart manufacturing 73 5.2.1.4 Rising demand for energy-efficient motors 73 5.2.1.5 Increasing mechanization in agriculture sector 73 5.2.2 RESTRAINTS 74 5.2.2.1 Fluctuating prices of raw materials 74 5.2.2.2 Implementation of stringent regulatory standards 74 5.2.3 OPPORTUNITIES 75 5.2.3.1 Transition of automotive industry toward electric vehicles 75 5.2.3.2 Growing adoption of robotics technology 75 5.2.4 CHALLENGES 76 5.2.4.1 Easy availability of low-quality and inexpensive electric motors 76 5.2.4.2 Shortage of components and supply chain issues 76 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS 77 5.4 VALUE CHAIN ANALYSIS 77 5.5 VALUE CHAIN ANALYSIS: ELECTRIC MOTORS MARKET 78 5.5.1 RAW MATERIAL PROVIDERS 78 5.5.2 MANUFACTURERS 78 5.5.3 DISTRIBUTORS/RESELLERS 78 5.5.4 END USERS 78 5.5.5 MAINTENANCE/SERVICE PROVIDERS 78 5.6 ECOSYSTEM ANALYSIS 79 5.7 ELECTRIC MOTORS MARKET: ECOSYSTEM MAPPING 79 5.8 MACROECONOMIC INDICATORS 80 5.8.1 INTRODUCTION 80 5.8.2 GDP TRENDS AND FORECASTS 80 5.8.3 MANUFACTURING, VALUE ADDED (CURRENT USD) 81 5.9 CASE STUDY ANALYSIS 82 5.9.1 ENHANCING MOTOR SYSTEM EFFICIENCY THROUGH DIGITALIZATION 82 5.9.2 BUILDING A SUSTAINABLE ELECTRIC MOTOR SUPPLY CHAIN IN UK 82 5.10 ELECTRIC MOTORS MARKET: FUNDING LANDSCAPE 83 5.11 TECHNOLOGY ANALYSIS 83 5.11.1 KEY TECHNOLOGIES 83 5.11.1.1 Integration of IoT 83 5.11.2 COMPLEMENTARY TECHNOLOGIES 84 5.11.2.1 Variable frequency drive 84 5.12 TRADE ANALYSIS 84 5.12.1 HS CODE 850110 84 5.12.1.1 Export scenario 84 5.12.1.2 Import scenario 85 5.12.2 HS CODE 850120 87 5.12.2.1 Export scenario 87 5.12.2.2 Import scenario 88 5.13 PATENT ANALYSIS 90 5.13.1 LIST OF MAJOR PATENTS 91 5.14 KEY CONFERENCES AND EVENTS 92 5.15 PRICING ANALYSIS 93 5.15.1 AVERAGE SELLING PRICE OF ELECTRIC MOTORS OFFERED BY KEY PLAYERS, BY TYPE 93 5.16 TARIFFS AND REGULATORY LANDSCAPE 95 5.16.1 TARIFFS RELATED TO ELECTRIC MOTORS 95 5.17 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 96 5.17.1 ELECTRIC MOTOR MARKET: CODES AND REGULATIONS 98 5.18 PORTER'S FIVE FORCES ANALYSIS 100 5.18.1 THREAT OF SUBSTITUTES 101 5.18.2 BARGAINING POWER OF SUPPLIERS 101 5.18.3 BARGAINING POWER OF BUYERS 101 5.18.4 THREAT OF NEW ENTRANTS 101 5.18.5 INTENSITY OF COMPETITIVE RIVALRY 102   5.19 KEY STAKEHOLDERS AND BUYING CRITERIA 102 5.19.1 KEY STAKEHOLDERS IN BUYING PROCESS 102 5.19.2 BUYING CRITERIA 103 5.20 IMPACT OF GENERATIVE AI/AI IN ELECTRIC MOTORS MARKET 103 5.20.1 ADOPTION OF GENERATIVE AI/AI IN ELECTRIC MOTORS MARKET 103 5.20.2 IMPACT OF GENERATIVE AI/AI ON KEY END USERS, BY REGION 104 5.20.3 IMPACT OF AI ON ELECTRIC MOTORS MARKET, BY REGION 105 6 ELECTRIC MOTORS MARKET, BY TYPE 106 6.1 INTRODUCTION 107 6.2 AC MOTORS 109 6.2.1 LOW MAINTENANCE AND HIGH POWER TO DRIVE DEMAND 109 6.3 INDUCTION AC MOTORS 110 6.3.1 MOST COMMONLY USED ELECTRIC MOTORS DUE TO THEIR SIMPLICITY AND COST-EFFECTIVENESS 110 6.4 SYNCHRONOUS AC MOTORS 111 6.4.1 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR SYNCHRONOUS MOTORS 111 6.5 DC MOTORS 112 6.5.1 EXCELLENT SPEED CONTROL AND HIGH STARTING TORQUE TO PROPEL DEMAND 112 6.6 BRUSHED DC MOTORS 113 6.6.1 BRUSHED MOTORS TRADITIONALLY PREFERRED DUE TO THEIR EASE OF CONTROL AND COST-EFFECTIVENESS 113 6.7 BRUSHLESS DC MOTORS 114 6.7.1 OFFERS HIGHER EFFICIENCY AND LONGER LIFESPAN THAN OTHER DC MOTORS 114 7 ELECTRIC MOTORS MARKET, BY POWER RATING 116 7.1 INTRODUCTION 117 7.2 <1 KW MOTORS 118 7.2.1 RISING NEED FOR LOW-MAINTENANCE AND HIGHLY EFFICIENT MOTORS EXPECTED TO DRIVE MARKET 118 7.3 1−2.2 KW MOTORS 119 7.3.1 GROWTH OF WATER & WASTEWATER TREATMENT SECTOR TO BOOST DEMAND 119 7.4 2.2–375 KW MOTORS 120 7.4.1 INCREASING DEMAND IN HEAVY INDUSTRIES TO FUEL MARKET GROWTH 120 7.5 375−900 KW MOTORS 121 7.5.1 INCREASING DEPLOYMENT IN INDUSTRIAL AND TRANSPORTATION SECTORS TO DRIVE MARKET 121 7.6 >900 KW MOTORS 122 7.6.1 ASIA PACIFIC TO DOMINATE MARKET FOR >900 KW MOTORS SEGMENT DURING FORECAST 122 8 ELECTRIC MOTORS MARKET, BY VOLTAGE 124 8.1 INTRODUCTION 125 8.2 LOW VOLTAGE 126 8.2.1 EASE OF OPERATION AND LOW SETUP AND MAINTENANCE COSTS TO DRIVE MARKET 126 8.3 MEDIUM VOLTAGE 127 8.3.1 OFFER ECONOMIES OF SCALE AND HIGH RELIABILITY 127 8.4 HIGH VOLTAGE 128 8.4.1 RISING AUTOMATION AND INDUSTRIALIZATION IN DEVELOPING COUNTRIES TO DRIVE MARKET 128 9 ELECTRIC MOTORS MARKET, BY ROTOR TYPE 129 9.1 INTRODUCTION 130 9.2 INNER ROTOR 131 9.2.1 INNER ROTOR TO DOMINATE OVERALL MARKET DURING FORECAST PERIOD 131 9.3 OUTER ROTOR 132 9.3.1 GROWTH OF MEDICAL EQUIPMENT MARKET TO CREATE DEMAND FOR OUTER ROTOR MOTORS 132 10 ELECTRIC MOTORS MARKET, BY OUTPUT POWER 133 10.1 INTRODUCTION 134 10.2 <1 HP MOTORS 135 10.2.1 <1 HP MOTORS TO DOMINATE OVERALL MARKET DURING FORECAST PERIOD 135 10.3 >1 HP MOTORS 136 10.3.1 GROWTH IN INDUSTRIAL SECTOR TO BOOST DEMAND 136 11 ELECTRIC MOTORS MARKET, BY END USER 137 11.1 INTRODUCTION 138 11.2 INDUSTRIAL 142 11.2.1 INDUSTRIAL SECTOR TO BE DOMINANT END USER OF ELECTRIC MOTORS 142 11.2.2 MINING & METALS 143 11.2.3 CHEMICAL & PETROCHEMICAL 143 11.2.4 OIL & GAS 143 11.2.5 CEMENT 144 11.2.6 MANUFACTURING 144 11.2.7 UTILITIES 144 11.2.8 RENEWABLES 144 11.2.9 AEROSPACE & DEFENSE 144 11.2.10 FOOD & BEVERAGE 145 11.2.11 AUTOMATION 145 11.2.12 WATER & WASTEWATER TREATMENT 145   11.3 COMMERCIAL 145 11.3.1 GROWING SMART INFRASTRUCTURE IN DEVELOPED COUNTRIES TO DRIVE MARKET 145 11.3.2 HOSPITALS 146 11.3.3 OFFICES 146 11.3.4 EDUCATIONAL INSTITUTIONS 146 11.3.5 HOTELS 146 11.3.6 OTHERS 147 11.4 RESIDENTIAL 147 11.4.1 RAPID URBANIZATION AND GROWING POPULATION TO INCREASE USE OF ELECTRIC MOTORS 147 11.4.2 APARTMENTS 148 11.4.3 SINGLE HOUSEHOLDS 148 11.5 TRANSPORTATION 148 11.5.1 INCORPORATION OF NEW ICT TECHNOLOGIES IN VEHICLES TO INCREASE USE OF ELECTRIC MOTORS 148 11.5.2 MARINE 149 11.5.3 AUTOMOTIVE 149 11.5.4 RAILWAYS 149 11.5.5 OTHERS 149 11.6 AGRICULTURE 149 11.6.1 TRANSITION TO MECHANIZED AGRICULTURE SYSTEMS TO INCREASE DEMAND FOR ELECTRIC MOTORS 149 11.6.2 CROP FARMING 150 11.6.3 LIVESTOCK FARMING 150 12 ELECTRIC MOTORS MARKET, BY REGION 151 12.1 INTRODUCTION 152 12.2 ASIA PACIFIC 154 12.2.1 CHINA 163 12.2.1.1 Rapid industrialization driving demand for electric motors in China 163 12.2.2 JAPAN 168 12.2.2.1 Growing automotive and aerospace industries fueling demand for electric motors 168 12.2.3 INDIA 173 12.2.3.1 Rapid urbanization and infrastructure development to support market growth 173 12.2.4 SOUTH KOREA 178 12.2.4.1 Growing electronics, automotive, and robotics sectors to drive market in South Korea 178 12.2.5 AUSTRALIA 183 12.2.5.1 Investments in renewable energy projects to contribute to market growth 183   12.2.6 REST OF ASIA PACIFIC 187 12.3 EUROPE 193 12.3.1 GERMANY 201 12.3.1.1 Automotive industry to dominate electric motors market in Germany 201 12.3.2 UK 206 12.3.2.1 UK’s commitment to energy efficiency to fuel demand for electric motors 206 12.3.3 ITALY 211 12.3.3.1 Industrial sector to be largest end user of electric motors 211 12.3.4 FRANCE 216 12.3.4.1 Increasing adoption of energy-efficient technologies to support market growth 216 12.3.5 RUSSIA 221 12.3.5.1 Growth of electric vehicles market to generate demand for electric motors 221 12.3.6 SWEDEN 226 12.3.6.1 Industrial and manufacturing sectors to fuel demand for electric motors 226 12.3.7 NORWAY 231 12.3.7.1 Strong hydropower sector to contribute to growth of electric motors market 231 12.3.8 DENMARK 236 12.3.8.1 Presence of strong wind energy sector to create high demand for electric motors 236 12.3.9 REST OF EUROPE 241 12.4 NORTH AMERICA 246 12.4.1 US 253 12.4.1.1 Infrastructure and renewable energy initiatives to support market growth 253 12.4.2 CANADA 258 12.4.2.1 Increasing industrial automation and rising adoption of electric vehicles boosting market 258 12.4.3 MEXICO 263 12.4.3.1 Investments and technological advancements playing vital role in Mexican electric motors market 263 12.5 MIDDLE EAST & AFRICA 269 12.5.1 GCC 277 12.5.1.1.1 Significant investments in solar and wind energy projects to support demand for electric motors 277 12.5.1.2 Saudi Arabia 282 12.5.1.2.1 Implementation of mega projects fueling demand for electric motors 282 12.5.1.3 UAE 288 12.5.1.3.1 Smart city projects to boost demand for electric motors in UAE 288   12.5.1.4 Rest of GCC 292 12.5.1.5 South Africa 297 12.5.1.5.1 Government initiatives to drive market in South Africa 297 12.5.1.6 Rest of Middle East & Africa 302 12.5.2 SOUTH AMERICA 307 12.5.3 BRAZIL 314 12.5.3.1 Expansion in energy sector to provide growth opportunities for electric motors market 314 12.5.4 ARGENTINA 320 12.5.4.1 Government initiatives to promote industrial growth to support market growth 320 12.5.5 REST OF SOUTH AMERICA 324 13 COMPETITIVE LANDSCAPE 330 13.1 OVERVIEW 330 13.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 330 13.3 MARKET SHARE ANALYSIS, 2023 332 13.4 REVENUE ANALYSIS OF TOP FOUR PLAYERS, 2019–2023 333 13.5 COMPANY VALUATION AND FINANCIAL METRICS 333 13.6 BRAND/PRODUCT COMPARISON 335 13.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 336 13.7.1 STARS 336 13.7.2 EMERGING LEADERS 336 13.7.3 PERVASIVE PLAYERS 336 13.7.4 PARTICIPANTS 336 13.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 338 13.7.5.1 Company footprint 338 13.7.5.2 Type footprint 339 13.7.5.3 Power rating footprint 340 13.7.5.4 Voltage footprint 341 13.7.5.5 End user footprint 342 13.7.5.6 Region footprint 343 13.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 344 13.8.1 PROGRESSIVE COMPANIES 344 13.8.2 RESPONSIVE COMPANIES 344 13.8.3 DYNAMIC COMPANIES 344 13.8.4 STARTING BLOCKS 344 13.8.5 COMPETITIVE BENCHMARKING 346 13.8.5.1 Detailed list of key startups/SMEs 346 13.8.5.2 Competitive benchmarking of key startups/SMEs 347 13.9 COMPETITIVE SCENARIOS 347 13.9.1 PRODUCT LAUNCHES 347 13.9.2 DEALS 350 13.9.3 EXPANSIONS 352 13.9.4 OTHER DEVELOPMENTS 353 14 COMPANY PROFILES 356 14.1 KEY PLAYERS 356 14.1.1 ABB 356 14.1.1.1 Business overview 356 14.1.1.2 Products/Services/Solutions offered 357 14.1.1.3 Recent developments 359 14.1.1.3.1 Product launches 359 14.1.1.3.2 Deals 360 14.1.1.3.3 Other developments 360 14.1.1.4 MnM view 362 14.1.1.4.1 Key strengths 362 14.1.1.4.2 Strategic choices 362 14.1.1.4.3 Weaknesses and competitive threats 362 14.1.2 SIEMENS 363 14.1.2.1 Business overview 363 14.1.2.2 Products/Services/Solutions offered 364 14.1.2.3 Recent developments 365 14.1.2.3.1 Product launches 365 14.1.2.3.2 Deals 365 14.1.2.3.3 Other developments 366 14.1.2.3.4 Expansions 367 14.1.2.4 MnM view 367 14.1.2.4.1 Key strengths 367 14.1.2.4.2 Strategic choices 367 14.1.2.4.3 Weaknesses and competitive threats 367 14.1.3 NIDEC CORPORATION 368 14.1.3.1 Business overview 368 14.1.3.2 Products/Services/Solutions offered 369 14.1.3.3 Recent developments 370 14.1.3.3.1 Product launches 370 14.1.3.3.2 Deals 372 14.1.3.3.3 Expansions 373 14.1.3.4 MnM view 373 14.1.3.4.1 Key strengths 373 14.1.3.4.2 Strategic choices 373 14.1.3.4.3 Weaknesses and competitive threats 373 14.1.4 HITACHI, LTD 374 14.1.4.1 Business overview 374 14.1.4.2 Products/Services/Solutions offered 375 14.1.4.3 MnM view 376 14.1.4.3.1 Key strengths 376 14.1.4.3.2 Strategic choices 376 14.1.4.3.3 Weaknesses and competitive threats 376 14.1.5 WEG 377 14.1.5.1 Business overview 377 14.1.5.2 Products/Services/Solutions offered 378 14.1.5.3 Recent developments 379 14.1.5.3.1 Product launches 379 14.1.5.3.2 Deals 380 14.1.5.3.3 Other developments 380 14.1.5.4 MnM view 381 14.1.5.4.1 Key strengths 381 14.1.5.4.2 Strategic choices 381 14.1.5.4.3 Weaknesses and competitive threats 381 14.1.6 WOLONG ELECTRIC GROUP 382 14.1.6.1 Business overview 382 14.1.6.2 Products/Services/Solutions offered 382 14.1.6.3 Recent developments 383 14.1.6.3.1 Product launches 383 14.1.6.3.2 Deals 383 14.1.6.4 MnM view 383 14.1.6.4.1 Key strengths 383 14.1.6.4.2 Strategic choices 384 14.1.6.4.3 Weaknesses and competitive threats 384 14.1.7 ROBERT BOSCH GMBH 385 14.1.7.1 Business overview 385 14.1.7.2 Products/Services/Solutions offered 386 14.1.8 REGAL REXNORD CORPORATION 388 14.1.8.1 Business overview 388 14.1.8.2 Products/Services/Solutions offered 389 14.1.8.3 Recent developments 390 14.1.8.3.1 Product launches 390 14.1.8.3.2 Deals 390 14.1.9 TOSHIBA CORPORATION 392 14.1.9.1 Business overview 392 14.1.9.2 Products/Services/Solutions offered 393 14.1.9.3 Recent developments 394 14.1.9.3.1 Product launches 394 14.1.9.3.2 Deals 395   14.1.10 ROCKWELL AUTOMATION 396 14.1.10.1 Business overview 396 14.1.10.2 Products/Solutions/Services offered 397 14.1.10.3 Recent developments 398 14.1.10.3.1 Product launches 398 14.1.10.3.2 Deals 399 14.1.11 FRANKLIN ELECTRIC 400 14.1.11.1 Business overview 400 14.1.11.2 Products/Solutions/Services offered 402 14.1.11.3 Recent developments 402 14.1.11.3.1 Deals 402 14.1.12 HYOSUNG HEAVY INDUSTRIES 403 14.1.12.1 Business overview 403 14.1.12.2 Products/Services/Solutions offered 404 14.1.13 TECO ELECTRIC & MACHINERY 405 14.1.13.1 Business overview 405 14.1.13.2 Products/Services/Solutions offered 406 14.1.14 JOHNSON ELECTRIC HOLDINGS LIMITED 408 14.1.14.1 Business overview 408 14.1.14.2 Products/Services/Solutions offered 409 14.1.14.3 Recent developments 411 14.1.14.3.1 Product launches 411 14.1.14.3.2 Deals 412 14.1.15 AMETEK, INC. 413 14.1.15.1 Business overview 413 14.1.15.2 Products/Solutions/Services offered 414 14.1.15.3 Recent developments 415 14.1.15.3.1 Product launches 415 14.1.15.3.2 Deals 415 14.1.16 ALLIED MOTION, INC. 416 14.1.16.1 Business overview 416 14.1.16.2 Products/Solutions/Services offered 417 14.1.16.3 Recent developments 419 14.1.16.3.1 Deals 419 14.1.17 BÜHLER MOTOR GMBH 420 14.1.17.1 Business overview 420 14.1.17.2 Products/Solutions/Services offered 420 14.1.18 FAULHABER GROUP 421 14.1.18.1 Business overview 421 14.1.18.2 Products/Services/Solutions offered 421   14.1.18.3 Recent developments 422 14.1.18.3.1 Product launches 422 14.1.19 MAXON 423 14.1.19.1 Business overview 423 14.1.19.2 Products/Solutions/Services offered 423 14.1.19.3 Recent developments 424 14.1.19.3.1 Product launches 424 14.1.20 ARC SYSTEMS INC. 425 14.1.20.1 Business overview 425 14.1.20.2 Products/Solutions/Services offered 425 14.2 WINDINGS INC 426 14.3 BROOK CROMPTON HOLDINGS PTE LTD. 426 14.4 YASKAWA ELECTRIC CORPORATION 427 14.5 SHANDONG HUALI ELECTROMECHANICAL CO., LTD. 428 14.6 PIELA ELECTRIC, INC. 429 15 APPENDIX 430 15.1 INSIGHTS OF INDUSTRY EXPERTS 430 15.2 DISCUSSION GUIDE 431 15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 436 15.4 CUSTOMIZATION OPTIONS 438 15.5 RELATED REPORTS 438 15.6 AUTHOR DETAILS 439