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Global Electric Motor Market Set to Cross $195.1 Billion Revenue by 2030, says P&S Intelligence

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The global electric motor market revenue stood at $105.5 billion in 2020, and it is predicted to rise to $195.1 billion by 2030, exhibiting a CAGR of 6.3% from 2020 to 2030.

The key growth drivers for the market are:

  1. Mushrooming Electric Vehicle Deployment: As per the International Energy Agency (IEA), from 2019 to 2020, the sales of electric cars surged from 2.1 million to around 3.24 million units. Furthermore, the share of electric vehicles (EVs) in global vehicle sales is expected to rise from nearly 3% in 2020 to 7% in 2023 and reach around 5.4 million units. This is fueling the requirement for electric motors as they are among the most-integral components of EVs
  2. Growing Need for Energy-Efficient Electric Motors: The ballooning requirement for reducing the power consumption in high-energy-consuming industries is predicted to drive the advance of the electric motor market in the coming years. These devices can account for nearly 70% of the total power consumption of a manufacturing facility. Thus, to reduce power consumption and operating expenditure, many industries are employing energy-efficient electric motors.

The implementation of partial or complete lockdowns in several countries, in order to mitigate the spread of the COVID-19 infection, has negatively impacted the progress of the electric motor market. The restrictions on the movement of goods and operations of factories brought down the sale of automobiles and machinery. Therefore, leading automakers, such as BMW AG, Tesla Inc., Daimler AG, Kia Motors Corp., and Nissan Motor Co., witnessed a massive slowdown in their operations due to the pandemic, which further affected the market.

Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/electric-motor-market/report-sample

The electric motor market was dominated by the transportation category in the past, under the application segment. This was because of the large-scale deployment of EVs owing to the provision of government subsidies and the surging demand for eco-friendly automobiles.

In the coming years, the alternating current (AC) motor category is expected to register the highest CAGR in the electric motor market, within the type segment. This is credited to AC motors’ high energy efficiency and ability to operate at higher voltages, speed, and torque than other motors. Additionally, they are easier to maintain and need less wire. As a result, they are being increasingly used in various industrial applications and EVs.

Browse detailed report on Global Electric Motor Market Size and Growth Forecast to 2030

Geographically, the Asia-Pacific (APAC) region is predicted to be the fastest-growing region in the electric motor market in the coming years. This will be because of the presence of numerous manufacturing plants in emerging economies, such as IndiaChinaIndonesia, and Bangladesh. Furthermore, many major players are making huge investments in the untapped countries of the region, which is also propelling the advance of the APAC market.

The leading players operating in the global electric motor market are Nidec Corporation, Regal Beloit Corporation, ABB Ltd., Mitsubishi Electric Corporation, Wolong Holding Group Co. Ltd., Johnson Electric Holdings Limited, WEG Equipamentos Elétricos S.A., DENSO CORP., AMETEK Inc., Rockwell Automation Inc., Valeo S.A., BorgWarner Inc., Robert Bosch GmbH, and Siemens AG.

Browse Other Related Reports

Electric Motor Market in Asia-Pacific – The APAC electric motor market would exhibit the fastest growth in India in the coming years. This is credited to the presence of a flourishing manufacturing and construction industry in the country.

Stepper Motor Market Report – P&S Intelligence considers the burgeoning industrial production a key reason behind the growth of the stepper motor market size to $3.7 billion in 2030 from $2.5 billion in 2019, at a 3.4% CAGR between 2020 and 2030.

Artificial Intelligence

NEXCOM, CTOne, and Vertex Join Forces to Enhance Private Network Security

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TAIPEI, May 28, 2024 /PRNewswire/ — NEXCOM, a leading supplier of network solutions, CTOne, a global cybersecurity leader in communication technology, and Vertex, a professional system integrator of 5G private network, join forces for groundbreaking POC targeted to advance 5G private network security within semiconductor manufacturing site framework. Designed to address the specific cybersecurity challenges common in OT networks, collaborative solution offers unparalleled protection, and seamless integration into existing network architectures with minimal disruption to operations during deployment.

Improved Network Security
NEXCOM’s 1U Edge server, the TCA 5170, delivers scalable performance and advanced cybersecurity features, empowering manufacturers with robust OT network protection. Leveraging cutting-edge technologies, the TCA 5170 accelerate encryption and decryption processes, ensures authentication and real-time threat detection, safeguarding private networks against evolving cyber threats. Its scalability makes it ideal for deployments of all sizes, from smaller production lines to semiconductor giants, providing comprehensive security solutions for diverse industrial needs.
More Visibility, Easier Management
The integrated solution simplifies the management of complex OT networks, enabling IT teams to efficiently monitor and manage network security while optimizing resource utilization. CTOne’s virtualized private 5G security software, installed on TCA 5170 and deployed at strategic points at the semiconductor manufacturing site, integrates seamlessly across IT and CT networks to deliver full visibility with real-time monitoring of data traffic. Combined with CTOne’s built-in 5G protection capabilities, the solution enable immediate interception and isolation of threats while supporting a Zero Trust strategy.
“This collaboration has been pivotal in delivering a comprehensive cybersecurity solution for semiconductor manufacturing sites,” said Ming-Yang, Yi, senior manager of AMEA business development group of CTOne. “By integrating our advanced 5G visibility and security capabilities with NEXCOM’s TCA 5170, we’ve created a robust solution that enhances data protection and optimizes operational efficiency of private 5G networks.”
“Working alongside NEXCOM and CTOne has allowed us to deliver a truly comprehensive cybersecurity solution for private 5G network,” said Willis Fu, Technical Director at Vertex. “Bringing together NEXCOM’s TCA 5170 and CTOne’s Mobile Network Security solution ensures seamless protection of the private 5G network, providing our end customer with peace of mind and confidence in their operations.”
“The TCA 5170 is a compact 1U server that offers different configurations and scalable performance, allowing our ecosystem partners to easily adapt and run their applications for deployments of all scales,” said Jennifer Lan, Sales & Marketing Director of Network & Communication Solutions at NEXCOM. “Our successful collaboration with CTOne and Vertex underscores our commitment to providing top-tier security and operational efficiency for our clients.”
Read full Case Study: Security-Solution-to-Protect-Private-Networks-at-Semiconductor-Facilities.pdf (nexcom.com)
This joint solution can be experienced firsthand at upcoming exhibitions:
May 29 – May 31, 2024, CommunicAsia 2024, Singapore, Singapore EXPO, Hall 4, booth 4E3-14June 26  – June 28, 2024, COMNEXT, Japan, Tokyo, Tokyo Big Sight, South Hall, Booth 9-14About NEXCOM
Founded in 1992 and headquartered in Taipei, Taiwan, NEXCOM integrates its diverse capabilities and operates six global businesses, including the Network and Communication Solutions (NCS) unit. NCS focuses on the latest network technology and helps to build reliable network infrastructure, by delivering professional design and manufacturing services for customers all over the world. NCS’s network application platform is widely adopted in Cyber Security, Load Balancing, 5G uCPE, SD-WAN, SASE, Edge Computing, OT Security, Storage, NVR, and other network applications for businesses of all sizes.
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FSP Group to Showcase Edge AI, Network Communication and USB PD Power Solutions at Computex 2024

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TAIPEI, May 28, 2024 /PRNewswire/ — FSP Group, a global leader in power supply solutions, is set to unveil its latest innovations at Computex 2024. The focus of this year’s showcase will be on cutting-edge Edge AI, Network Communication and USB PD power solutions.

Revolutionary Efficiency in Edge AI Solutions.
FSP demonstrates its next-generation power supply solutions tailored for edge AI computing applications. These solutions meet the demanding power requirements of AI inference engines, neural networks, and edge devices. 
FSP’s FSP3250-20HM series product designs achieve extremely high 80PLUS Titanium energy efficiency levels, which means at least 96% at typical load.  With advanced power management features, FSP’s solutions enable efficient processing, reduced energy consumption, and improved performance in edge AI computing environments.
Comprehensive Network Communication Solutions
FSP Group provides comprehensive power solutions for the network communication industry, including redundant power supplies, open frame, and external power supplies. These solutions offer high reliability, high efficiency, and strong anti-interference capabilities to support various compatibility applications in networking and communication systems. Applications include edge AI servers, IT servers, storage servers, AIoT servers, embedded servers, network switches, routers, PoE switches, and various types of firewall security servers.
The highlight product is the YNEH2000AM-2D00T10, which is certified with the 80 PLUS Titanium certification and PMBus 1.2. The series includes models with 2000W and 2400W output, and offers options for AC/DC & DC/DC, as well as AFI & AFO solutions.
Versatile and Customizable USB PD Solutions
FSP Group’s innovative USB PD solutions cater to a wide range of applications with power ratings from 45W to 240W. We offer flexible design and customization options to meet the specific needs of our customers.  The highlight product is the FSP065-D2UB1, which can be used with smartphones, Chromebooks, laptops, digital cameras, monitors, and TVs. When not connected to power, it functions as a Type-C to HDMI video converter. When powered, it can simultaneously charge the laptop and transfer video to the HDMI port, showcasing its multifunctional capabilities.
FSP Group collaborates closely with industry partners, including edge AI and network communication hardware manufacturers, as well as system integrators, to develop power supply solutions that seamlessly integrate with relevant platforms. The showcase will highlight successful case studies and real-world applications where FSP’s power supplies have made a significant impact.
Visit FSP Group at Computex 2024: 
Taipei Nangang Exhibition Center, Hall 1 (TaiNEX 1)
Booth: 4F, L1209a
or visit https://www.fsp-group.com
For more product information, please visit:
FSP Group’s official website at: www.fsp-group.com
FSP Group Brand Product website at: www.FSPLifestyle.com
Facebook: www.facebook.com/FSP.global
LinkedIn: www.linkedin.com/company/fsp-technology-inc.
About FSP
Founded in 1993, the FSP is among the major well-known power supply manufacturers in the world. With a professional technical team made up of more than 400 professionals, strong production capabilities, and complete production lines, the Company offers solutions to cater to users with different power supply needs. With more than 600 models that have received 80PLUS certificates, the FSP has become the manufacturer in the world with the highest number of 80PLUS certificates. By the continuous provision of best environmentally-friendly and high-quality power products to consumers, the users may contribute to the protection of the Earth’s environment while enjoying the technology.
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Wondershare DemoCreator Unveils V8.0: Accelerating Video Creation and Editing with Innovative AI Features

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VANCOUVER, BC, May 28, 2024 /PRNewswire/ — Wondershare DemoCreator, the leading software for screen recording and video editing, proudly announces the release of its latest version DemoCreator 8.0.  DemoCreator 8.0 supercharges the broad spectrum of educational and instructional video content, empowered by its updated AI enhancements. These advancements position DemoCreator 8.0 as a top player and pioneering video tool for educators, marketers, and influencers.

The PR Director at Wondershare, Iris L. stated, “DemoCreator has always been dedicated to simplifying video creation process, with version 8.0, we’ve introduced advanced AI technologies to enhance user experience and productivity. We believe that with our continuous effort, DemoCreator will remain the top choice for creators, helping them achieve greater success in sharing content.”
Key Upgrades in DemoCreator 8.0:
New Design: Upgraded UI and Magic Tools for enhanced efficiency.
New Template: Create captivating videos with refined templates in a few clicks.
Auto Subtitles: Generate accurate subtitles with trendy animations in over 90 languages.
Text to Speech: Convert text to human-like speech with 120+ voice options.
AI Voice Changer: Change voices into 24 different characters.
AI Object Remover: Remove unwanted elements from videos and images with one click.
AI Vocal Remover: Separate background sounds and vocals for noise reduction.
AI Beauty Filter: Six pre-set beauty effects with customization options.
Brand Kits: Create a unique brand kit with a customizable intro, outro, and logo.
Technological Upgrades: 50% faster video rendering and 200% faster export speeds.
Compatibility:
Wondershare DemoCreator is compatible with Windows and soon with Mac, with pricing starting at $29.99. For free trials and downloads, please visit DemoCreator’s website or follow us on YouTube, Facebook, Twitter, and Instagram to stay updated.
About Wondershare:
Wondershare is globally recognized as a software company committed to delivering innovative solutions for personal and professional use. As a leader in creativity and productivity products, Wondershare has received prestigious awards from organizations such as The Shorty Awards, G2, and GetApp. At Wondershare, the mission is to empower individuals to pursue their passions and build a more creative world. With over 100 million users across 150 countries, users can access a wide range of software solutions for video editing, PDF editing, data recovery, diagram and mind mapping, and more. Wondershare strives to provide high-quality, user-friendly software that enables individuals and businesses to bring their creative ideas to life.
Media Contacts
Iris [email protected]
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