Global Electric Motor Rotor Shaft Market Size To Worth USD 3.89 Million By 2033 | CAGR of 6.36%
Category: Automotive & TransportationGlobal Electric Motor Rotor Shaft Market Size To Worth USD 3.89 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Electric Motor Rotor Shaft Market Size is Expected to Grow from USD 2.10 Million in 2023 to USD 3.89 Million by 2033, at a CAGR of 6.36% during the forecast period 2023-2033.
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Browse key industry insights spread across 238 pages with 108 Market data tables and figures & charts from the report on the "Global Electric Motor Rotor Shaft Market Size, Share, and COVID-19 Impact Analysis, By Type (Solid Shaft, Hollow Shaft, Stepped Shaft, and Others) By Application (Industrial Machinery, Automotive Sector, Appliances, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/electric-motor-rotor-shaft-market
"Electric motor rotor shaft market" refers to the industry and company that manufactures, distributes, and sells rotor shafts for electric motors. The rotor shaft is essential to electric motors because it transmits the mechanical energy generated by the rotor to other parts, such as the output shaft or mechanical load. A variety of industries, including automotive, industrial machinery, home appliances, HVAC systems, and many more, use rotor shafts for electric motors. The increasing global output of electric vehicles (EVs) due to technological advancements and environmental regulations has made efficient electric motor rotor shafts increasingly vital. Two drivers propelling the market's growth are the worldwide push for electrification and the rising demand for electric vehicles (EVs). Increasing demand from a range of end-user industries, expanding utilization in crucial regions, and technological advancements are some of the reasons driving the electric motor rotor shaft market expansion. However, the high price of raw materials and intricate manufacturing procedures required to produce rotor shafts can drive up production costs, which would be a barrier for small and new producers.
The solid shaft segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the type, the electric motor rotor shaft market is classified into solid shaft, hollow shaft, stepped shaft, and others. Among these, the solid shaft segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The solid shaft is due to its extensive use in industrial motors, where high torque handling and longevity are essential.
The industrial machinery segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the electric motor rotor shaft market is divided into industrial machinery, automotive sector, appliances, and others. Among these, the industrial machinery segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Industrial machinery is a major contributor to market demand since it needs strong, dependable motors that can endure challenging operating circumstances.
Asia Pacific is estimated to hold the largest share of the electric motor rotor shaft market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the electric motor rotor shaft market over the forecast period. Asia Pacific's plentiful raw materials and affordable manufacturing make it an essential hub for the production of rotor shafts for both domestic and international markets. Its leadership in EV production and adoption, together with its growing focus on renewable energy, are the main drivers of the region's dominance.
Europe is predicted to have the highest CAGR growth in the electric motor rotor shaft market over the forecast period. Europe's position as a major market for these components is being cemented as manufacturers are being pushed to innovate and adopt more eco-friendly and efficient rotor shaft designs by strict environmental legislation and measures to minimize carbon emissions.
Major key players in the electric motor rotor shaft market include Siemens, Nidec, ABB Ltd., Parker Hannifin, General Electric (GE), Toshiba Corporation, Schneider Electric, Emerson Electric Co., Eaton Corporation, Timken Company, SKF Group, Danfoss Group, Bosch Rexroth AG, Hitachi Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In July 2024, to boost efficiency and lower energy usage in industrial settings, Siemens recently unveiled a new range of electric motors with improved rotor shaft designs.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the electric motor rotor shaft market based on the below-mentioned segments:
Global Electric Motor Rotor Shaft Market, By Type
- Solid Shaft
- Hollow Shaft
- Stepped Shaft
- Others
Global Electric Motor Rotor Shaft Market, By Application
- Industrial Machinery
- Automotive Sector
- Appliances
- Others
Global Electric Motor Rotor Shaft Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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