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 45 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 57 2.4.3.2 Assumptions 57 2.4.4 SUPPLY-SIDE ANALYSIS 58 2.4.4.1 Calculations 58 2.4.4.2 Assumptions 59 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 5.2.1.6 Rapid urbanization and infrastructure development 74 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 77 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 89 5.13 PATENT ANALYSIS 90 5.13.1 LIST OF MAJOR PATENTS 92 5.14 KEY CONFERENCES AND EVENTS 94 5.15 PRICING ANALYSIS 95 5.15.1 AVERAGE SELLING PRICE OF ELECTRIC MOTORS OFFERED BY KEY PLAYERS, BY TYPE 95 5.16 TARIFFS AND REGULATORY LANDSCAPE 97 5.16.1 TARIFFS RELATED TO ELECTRIC MOTORS 97 5.17 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 98 5.17.1 ELECTRIC MOTOR MARKET: CODES AND REGULATIONS 100 5.18 PORTER'S FIVE FORCES ANALYSIS 101 5.18.1 THREAT OF SUBSTITUTES 103 5.18.2 BARGAINING POWER OF SUPPLIERS 103 5.18.3 BARGAINING POWER OF BUYERS 103 5.18.4 THREAT OF NEW ENTRANTS 103 5.18.5 INTENSITY OF COMPETITIVE RIVALRY 104 5.19 KEY STAKEHOLDERS AND BUYING CRITERIA 104 5.19.1 KEY STAKEHOLDERS IN BUYING PROCESS 104 5.19.2 BUYING CRITERIA 105 5.20 IMPACT OF GENERATIVE AI/AI IN ELECTRIC MOTORS MARKET 105 5.20.1 ADOPTION OF GENERATIVE AI/AI IN ELECTRIC MOTORS MARKET 105 5.20.2 IMPACT OF GENERATIVE AI/AI ON KEY END USERS, BY REGION 106 5.20.3 IMPACT OF AI ON ELECTRIC MOTORS MARKET, BY REGION 107 6 ELECTRIC MOTORS MARKET, BY TYPE 108 6.1 INTRODUCTION 109 6.2 AC MOTORS 111 6.2.1 LOW MAINTENANCE AND HIGH POWER TO DRIVE DEMAND 111 6.3 INDUCTION AC MOTORS 112 6.3.1 MOST COMMONLY USED ELECTRIC MOTORS DUE TO THEIR SIMPLICITY AND COST-EFFECTIVENESS 112 6.4 SYNCHRONOUS AC MOTORS 113 6.4.1 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR SYNCHRONOUS MOTORS 113 6.5 DC MOTORS 114 6.5.1 EXCELLENT SPEED CONTROL AND HIGH STARTING TORQUE TO PROPEL DEMAND 114 6.6 BRUSHED DC MOTORS 115 6.6.1 BRUSHED MOTORS TRADITIONALLY PREFERRED DUE TO THEIR EASE OF CONTROL AND COST-EFFECTIVENESS 115 6.7 BRUSHLESS DC MOTORS 116 6.7.1 OFFERS HIGHER EFFICIENCY AND LONGER LIFESPAN THAN OTHER DC MOTORS 116 7 ELECTRIC MOTORS MARKET, BY POWER RATING 118 7.1 INTRODUCTION 119 7.2 <1 KW MOTORS 120 7.2.1 RISING NEED FOR LOW-MAINTENANCE AND HIGHLY EFFICIENT MOTORS EXPECTED TO DRIVE MARKET 120 7.3 1−2.2 KW MOTORS 121 7.3.1 GROWTH OF WATER & WASTEWATER TREATMENT SECTOR TO BOOST DEMAND 121 7.4 2.2–375 KW MOTORS 122 7.4.1 INCREASING DEMAND IN HEAVY INDUSTRIES TO FUEL MARKET GROWTH 122 7.5 375−900 KW MOTORS 123 7.5.1 INCREASING DEPLOYMENT IN INDUSTRIAL AND TRANSPORTATION SECTORS TO DRIVE MARKET 123 7.6 >900 KW MOTORS 124 7.6.1 ASIA PACIFIC TO DOMINATE MARKET FOR >900 KW MOTORS SEGMENT DURING FORECAST 124 8 ELECTRIC MOTORS MARKET, BY VOLTAGE 126 8.1 INTRODUCTION 127 8.2 LOW VOLTAGE 128 8.2.1 EASE OF OPERATION AND LOW SETUP AND MAINTENANCE COSTS TO DRIVE MARKET 128 8.3 MEDIUM VOLTAGE 129 8.3.1 OFFER ECONOMIES OF SCALE AND HIGH RELIABILITY 129 8.4 HIGH VOLTAGE 130 8.4.1 RISING AUTOMATION AND INDUSTRIALIZATION IN DEVELOPING COUNTRIES TO DRIVE MARKET 130 9 ELECTRIC MOTORS MARKET, BY ROTOR TYPE 131 9.1 INTRODUCTION 132 9.2 INNER ROTOR 133 9.2.1 INNER ROTOR TO DOMINATE OVERALL MARKET DURING FORECAST PERIOD 133 9.3 OUTER ROTOR 134 9.3.1 GROWTH OF MEDICAL EQUIPMENT MARKET TO CREATE DEMAND FOR OUTER ROTOR MOTORS 134 10 ELECTRIC MOTORS MARKET, BY OUTPUT POWER 135 10.1 INTRODUCTION 136 10.2 <1 HP MOTORS 137 10.2.1 <1 HP MOTORS TO DOMINATE OVERALL MARKET DURING FORECAST PERIOD 137 10.3 >1 HP MOTORS 138 10.3.1 GROWTH IN INDUSTRIAL SECTOR TO BOOST DEMAND 138 11 ELECTRIC MOTORS MARKET, BY END USER 139 11.1 INTRODUCTION 140 11.2 INDUSTRIAL 144 11.2.1 INDUSTRIAL SECTOR TO BE DOMINANT END USER OF ELECTRIC MOTORS 144 11.2.2 MINING & METALS 145 11.2.3 CHEMICAL & PETROCHEMICAL 145 11.2.4 OIL & GAS 145 11.2.5 CEMENT 146 11.2.6 MANUFACTURING 146 11.2.7 UTILITIES 146 11.2.8 RENEWABLES 146 11.2.9 AEROSPACE & DEFENSE 146 11.2.10 FOOD & BEVERAGE 147 11.2.11 AUTOMATION 147 11.2.12 WATER & WASTEWATER TREATMENT 147 11.3 COMMERCIAL 147 11.3.1 GROWING SMART INFRASTRUCTURE IN DEVELOPED COUNTRIES TO DRIVE MARKET 147 11.3.2 HOSPITALS 148 11.3.3 OFFICES 148 11.3.4 EDUCATIONAL INSTITUTIONS 148 11.3.5 HOTELS 149 11.3.6 OTHERS 149 11.4 RESIDENTIAL 149 11.4.1 RAPID URBANIZATION AND GROWING POPULATION TO INCREASE USE OF ELECTRIC MOTORS 149 11.4.2 APARTMENTS 150 11.4.3 SINGLE HOUSEHOLDS 150 11.5 TRANSPORTATION 150 11.5.1 INCORPORATION OF NEW ICT TECHNOLOGIES IN VEHICLES TO INCREASE USE OF ELECTRIC MOTORS 150 11.5.2 MARINE 151 11.5.3 AUTOMOTIVE 151 11.5.4 RAILWAYS 151 11.5.5 OTHERS 151 11.6 AGRICULTURE 151 11.6.1 TRANSITION TO MECHANIZED AGRICULTURE SYSTEMS TO INCREASE DEMAND FOR ELECTRIC MOTORS 151 11.6.2 CROP FARMING 152 11.6.3 LIVESTOCK FARMING 152 12 ELECTRIC MOTORS MARKET, BY REGION 153 12.1 INTRODUCTION 154 12.2 ASIA PACIFIC 156 12.2.1 CHINA 165 12.2.1.1 Rapid industrialization driving demand for electric motors in China 165 12.2.2 JAPAN 170 12.2.2.1 Growing automotive and aerospace industries fueling demand for electric motors 170 12.2.3 INDIA 175 12.2.3.1 Rapid urbanization and infrastructure development to support market growth 175 12.2.4 SOUTH KOREA 180 12.2.4.1 Growing electronics, automotive, and robotics sectors to drive market in South Korea 180 12.2.5 AUSTRALIA 185 12.2.5.1 Investments in renewable energy projects to contribute to market growth 185 12.2.6 REST OF ASIA PACIFIC 189 12.3 EUROPE 195 12.3.1 GERMANY 203 12.3.1.1 Automotive industry to dominate electric motors market in Germany 203   12.3.2 UK 208 12.3.2.1 UK’s commitment to energy efficiency to fuel demand for electric motors 208 12.3.3 ITALY 213 12.3.3.1 Industrial sector to be largest end user of electric motors 213 12.3.4 FRANCE 218 12.3.4.1 Increasing adoption of energy-efficient technologies to support market growth 218 12.3.5 RUSSIA 223 12.3.5.1 Growth of electric vehicles market to generate demand for electric motors 223 12.3.6 SWEDEN 228 12.3.6.1 Industrial and manufacturing sectors to fuel demand for electric motors 228 12.3.7 NORWAY 233 12.3.7.1 Strong hydropower sector to contribute to growth of electric motors market 233 12.3.8 DENMARK 238 12.3.8.1 Presence of strong wind energy sector to create high demand for electric motors 238 12.3.9 REST OF EUROPE 243 12.4 NORTH AMERICA 248 12.4.1 US 255 12.4.1.1 Infrastructure and renewable energy initiatives to support market growth 255 12.4.2 CANADA 260 12.4.2.1 Increasing industrial automation and rising adoption of electric vehicles boosting market 260 12.4.3 MEXICO 266 12.4.3.1 Investments and technological advancements playing vital role in Mexican electric motors market 266 12.5 MIDDLE EAST & AFRICA 271 12.5.1 GCC 279 12.5.1.1.1 Significant investments in solar and wind energy projects to support demand for electric motors 279 12.5.1.2 Saudi Arabia 285 12.5.1.2.1 Implementation of mega projects fueling demand for electric motors 285 12.5.1.3 UAE 290 12.5.1.3.1 Smart city projects to boost demand for electric motors in UAE 290 12.5.1.4 Rest of GCC 294 12.5.1.5 South Africa 299 12.5.1.5.1 Government initiatives to drive market in South Africa 299 12.5.1.6 Rest of Middle East & Africa 304   12.6 SOUTH AMERICA 309 12.6.1 BRAZIL 317 12.6.1.1 Expansion in energy sector to provide growth opportunities for electric motors market 317 12.6.2 ARGENTINA 322 12.6.2.1 Government initiatives to promote industrial growth to support market growth 322 12.6.3 REST OF SOUTH AMERICA 326 13 COMPETITIVE LANDSCAPE 332 13.1 OVERVIEW 332 13.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 332 13.3 MARKET SHARE ANALYSIS, 2023 334 13.4 REVENUE ANALYSIS OF TOP FOUR PLAYERS, 2019–2023 335 13.5 COMPANY VALUATION AND FINANCIAL METRICS 335 13.6 BRAND/PRODUCT COMPARISON 337 13.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 338 13.7.1 STARS 338 13.7.2 EMERGING LEADERS 338 13.7.3 PERVASIVE PLAYERS 338 13.7.4 PARTICIPANTS 338 13.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 340 13.7.5.1 Company footprint 340 13.7.5.2 Type footprint 341 13.7.5.3 Power rating footprint 342 13.7.5.4 Voltage footprint 343 13.7.5.5 End user footprint 344 13.7.5.6 Region footprint 345 13.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 346 13.8.1 PROGRESSIVE COMPANIES 346 13.8.2 RESPONSIVE COMPANIES 346 13.8.3 DYNAMIC COMPANIES 346 13.8.4 STARTING BLOCKS 346 13.8.5 COMPETITIVE BENCHMARKING 348 13.8.5.1 Detailed list of key startups/SMEs 348 13.8.5.2 Competitive benchmarking of key startups/SMEs 348 13.9 COMPETITIVE SCENARIO 349 13.9.1 PRODUCT LAUNCHES 349 13.9.2 DEALS 352 13.9.3 EXPANSIONS 355 13.9.4 OTHER DEVELOPMENTS 356   14 COMPANY PROFILES 359 14.1 KEY PLAYERS 359 14.1.1 ABB 359 14.1.1.1 Business overview 359 14.1.1.2 Products/Services/Solutions offered 360 14.1.1.3 Recent developments 362 14.1.1.3.1 Product launches 362 14.1.1.3.2 Deals 363 14.1.1.3.3 Other developments 363 14.1.1.4 MnM view 365 14.1.1.4.1 Key strengths 365 14.1.1.4.2 Strategic choices 365 14.1.1.4.3 Weaknesses and competitive threats 365 14.1.2 SIEMENS 366 14.1.2.1 Business overview 366 14.1.2.2 Products/Services/Solutions offered 367 14.1.2.3 Recent developments 368 14.1.2.3.1 Product launches 368 14.1.2.3.2 Deals 368 14.1.2.3.3 Other developments 369 14.1.2.3.4 Expansions 370 14.1.2.4 MnM view 370 14.1.2.4.1 Key strengths 370 14.1.2.4.2 Strategic choices 370 14.1.2.4.3 Weaknesses and competitive threats 370 14.1.3 NIDEC CORPORATION 371 14.1.3.1 Business overview 371 14.1.3.2 Products/Services/Solutions offered 372 14.1.3.3 Recent developments 373 14.1.3.3.1 Product launches 373 14.1.3.3.2 Deals 375 14.1.3.3.3 Expansions 376 14.1.3.4 MnM view 376 14.1.3.4.1 Key strengths 376 14.1.3.4.2 Strategic choices 376 14.1.3.4.3 Weaknesses and competitive threats 376 14.1.4 HITACHI, LTD 377 14.1.4.1 Business overview 377 14.1.4.2 Products/Services/Solutions offered 378 14.1.4.3 MnM view 379 14.1.4.3.1 Key strengths 379 14.1.4.3.2 Strategic choices 379 14.1.4.3.3 Weaknesses and competitive threats 379 14.1.5 WEG 380 14.1.5.1 Business overview 380 14.1.5.2 Products/Services/Solutions offered 381 14.1.5.3 Recent developments 382 14.1.5.3.1 Product launches 382 14.1.5.3.2 Deals 383 14.1.5.3.3 Other developments 383 14.1.5.4 MnM view 384 14.1.5.4.1 Key strengths 384 14.1.5.4.2 Strategic choices 384 14.1.5.4.3 Weaknesses and competitive threats 384 14.1.6 WOLONG ELECTRIC GROUP 385 14.1.6.1 Business overview 385 14.1.6.2 Products/Services/Solutions offered 385 14.1.6.3 Recent developments 386 14.1.6.3.1 Product launches 386 14.1.6.3.2 Deals 386 14.1.6.4 MnM view 387 14.1.6.4.1 Key strengths 387 14.1.6.4.2 Strategic choices 387 14.1.6.4.3 Weaknesses and competitive threats 387 14.1.7 ROBERT BOSCH GMBH 388 14.1.7.1 Business overview 388 14.1.7.2 Products/Services/Solutions offered 390 14.1.8 REGAL REXNORD CORPORATION 391 14.1.8.1 Business overview 391 14.1.8.2 Products/Services/Solutions offered 392 14.1.8.3 Recent developments 393 14.1.8.3.1 Product launches 393 14.1.8.3.2 Deals 393 14.1.9 TOSHIBA CORPORATION 395 14.1.9.1 Business overview 395 14.1.9.2 Products/Services/Solutions offered 396 14.1.9.3 Recent developments 397 14.1.9.3.1 Product launches 397 14.1.9.3.2 Deals 398 14.1.10 ROCKWELL AUTOMATION 399 14.1.10.1 Business overview 399 14.1.10.2 Products/Solutions/Services offered 400 14.1.10.3 Recent developments 401 14.1.10.3.1 Product launches 401 14.1.10.3.2 Deals 402 14.1.11 FRANKLIN ELECTRIC 403 14.1.11.1 Business overview 403 14.1.11.2 Products/Solutions/Services offered 405 14.1.11.3 Recent developments 405 14.1.11.3.1 Deals 405 14.1.12 HYOSUNG HEAVY INDUSTRIES 406 14.1.12.1 Business overview 406 14.1.12.2 Products/Services/Solutions offered 407 14.1.13 TECO ELECTRIC & MACHINERY 408 14.1.13.1 Business overview 408 14.1.13.2 Products/Services/Solutions offered 409 14.1.14 JOHNSON ELECTRIC HOLDINGS LIMITED 411 14.1.14.1 Business overview 411 14.1.14.2 Products/Services/Solutions offered 412 14.1.14.3 Recent developments 414 14.1.14.3.1 Product launches 414 14.1.14.3.2 Deals 415 14.1.15 AMETEK, INC. 416 14.1.15.1 Business overview 416 14.1.15.2 Products/Solutions/Services offered 417 14.1.15.3 Recent developments 418 14.1.15.3.1 Product launches 418 14.1.15.3.2 Deals 418 14.1.16 ALLIED MOTION, INC. 419 14.1.16.1 Business overview 419 14.1.16.2 Products/Solutions/Services offered 420 14.1.16.3 Recent developments 422 14.1.16.3.1 Deals 422 14.1.17 BÜHLER MOTOR GMBH 423 14.1.17.1 Business overview 423 14.1.17.2 Products/Solutions/Services offered 423 14.1.18 FAULHABER GROUP 424 14.1.18.1 Business overview 424 14.1.18.2 Products/Services/Solutions offered 424 14.1.18.3 Recent developments 425 14.1.18.3.1 Product launches 425 14.1.19 MAXON 426 14.1.19.1 Business overview 426 14.1.19.2 Products/Solutions/Services offered 426 14.1.19.3 Recent developments 427 14.1.19.3.1 Product launches 427 14.1.20 ARC SYSTEMS INC. 428 14.1.20.1 Business overview 428 14.1.20.2 Products/Solutions/Services offered 428 14.1.21 WINDINGS INC 429 14.1.22 BROOK CROMPTON HOLDINGS PTE LTD. 429 14.1.23 YASKAWA ELECTRIC CORPORATION 430 14.1.24 SHANDONG HUALI ELECTROMECHANICAL CO., LTD. 431 14.1.25 PIELA ELECTRIC, INC. 432 15 APPENDIX 433 15.1 INSIGHTS OF INDUSTRY EXPERTS 433 15.2 DISCUSSION GUIDE 434 15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 439 15.4 CUSTOMIZATION OPTIONS 441 15.5 RELATED REPORTS 441 15.6 AUTHOR DETAILS 442