Global Inboard Electric Motors Market Size By Type (Low Power (Below 10 HP), Medium Power (10-35 HP)), By Application (Civil Entertainment, Municipal), By Geographic Scope And Forecast
Report ID: 301358|No. of Pages: 202
Global Inboard Electric Motors Market Size By Type (Low Power (Below 10 HP), Medium Power (10-35 HP)), By Application (Civil Entertainment, Municipal), By Geographic Scope And Forecast
Inboard Electric Motors Market Size And Forecast
Inboard Electric Motors Market size was valued at USD 5.70 Billion in 2021 and is projected to reach USD 8.79 Billion by 2030, growing at a CAGR of 5.05% from 2023 to 2030.
The growing demand for low-emission vehicles has led to a rise in the usage of electric powertrains across all vehicle segments. Furthermore, the implementation of several government regulations to control the emission levels from internal combustion engines is likely to drive the adoption of electric motor systems during the forecast period. The Global Inboard Electric Motors Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Inboard Electric Motors Market Definition
An electric motor is a device that converts the flow of electric current into the mechanical rotation of a spindle or rotor and is converted to linear motion. In other words, the device that generates the rotational force is called a motor. The operating principle of an electric motor mainly depends on the interaction between the magnetic field and the electric field. There are two main types of electric motors: AC motors and DC motors. The AC motor takes alternating current as an input, and the DC motor takes direct current. AC motors convert alternating current into mechanical power. It is classified into induction motors, synchronous motors, and linear motors. DC motor is a machine that converts electric power into mechanical power.
Its function is based on the basic principle that when a conductor carrying an electric current is placed in a magnetic field, a force is applied to it to generate torque. Electric motors are used in various home applications such as CDs, DVDs, and washing machines, and commercial and industrial applications such as medical and office applications. Typical applications related to linear actuator mechanisms include automotive, material handling, robotics, food and beverage, and packaging. The motor must be connected to the drive component through gears or belts and may require vibration isolation. The temperature sensor is helpful and needs a well-ventilated lover to control overheating.
The inboard motor is referred that a motor which is an electrically operated motor which is located inside the hull of a boat. Inboard motors can be fixed or portable, depending on whether the location is changeable within limits. Compared to outboard motors, inboard motors are engines that are enclosed within the hull of the boat and generally connected to a propulsion screw by a driveshaft.
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Global Inboard Electric Motors Market Overview
The primary factor driving the market growth is the increasing electricity consumption across the globe and the rising use of electrical equipment and machines in various industries. The industrial sector is accelerating as electricity demand has increased significantly in all countries over the last decade. New technologies such as combined heat and power have been introduced. As a result, the fields of application of electrical machinery in the industrial sector have expanded. Similarly, the introduction of electric vehicles and increasing demand for vehicles contribute to the growth of this market.
The heating and air-conditioning (HVAC) industry is expanding with growing demand for heating and cooling in residential, commercial, and industrial areas, which leads to the fact that the activity of the new building considers the building’s air conditioning supply to be an essential function during the construction phase. In addition, it ultimately fuels the demand for electric motors. Developing countries are significant countries indulging in the growth of the HVAC industry as a commercial space and improving the standard of living. The high maintenance costs of the engine and operating costs are also very high and can make it challenging to accept customers.
However, some motors do not have self-starting torque as with induction motors. Additional equipment may also be required to start the single-phase motor is the factor that restrains the market growth of the Inboard Electric Motors Market. The global automotive industry is making a significant difference in electric vehicle technology and is moving to electric vehicles. Advancement in battery technology has reduced battery costs and improved charging speeds. Increasing government support for tax cuts and incentives to promote electric vehicles are opportunities for the market growth of the Inboard Electric Motors Market.
Global Inboard Electric Motors Market: Segmentation Analysis
The Global Inboard Electric Motors Market is Segmented on the basis of Type, Application, and Geography.
Inboard Electric Motors Market, By Type
- Low Power (Below 10 HP)
- Medium Power (10-35 HP)
- Large Power (Above 35 HP)
Based on Type, the market is bifurcated into Low Power (Below 10 HP), Medium Power (10-35 HP), and Large Power (Above 35 HP). The large power (Above 35 HP) segment is expected to grow at the highest rate over the forecast period.
Inboard Electric Motors Market, By Application
- Civil Entertainment
- Municipal
- Commercial
Based on Application, the market is bifurcated into Civil Entertainment, Municipal, and Commercial. Municipal is one of the major applications using inboard electric motors. In water treatment plants, bottom mixers are powered by inboard electric motors. Such motor-driven machines such as inboard electric motors raise the efficiency of these systems where they are used to mechanically blend ingredients which include chlorine or other chemicals into large quantities of wastewater, which ultimately helps in the treatment of wastewater.
Inboard Electric Motors Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
On the basis of regional analysis, the Global Inboard Electric Motors Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific region accounts for a large share of the market due to rising demand in end-use sectors including industrial, automotive, and power in countries such as India and China. Additionally, the growing demand for electric vehicles among consumers is likely to boost the growth of the Inboard Electric Motors Market in the region.
Key Players
The “Global Inboard Electric Motors Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Kräutler Elektromaschinen GmbH, Elco Motor Yachts, TEMA, Transfluid, Torqeedo, Oceanvolt, Piktronik, Star Investments, Ingeteam Power Technology, Aquamot, Navigaflex, LTS MARINE.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Inboard Electric Motors Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Inboard Electric Motors Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2018-2030 |
| BASE YEAR | 2021 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2018-2020 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Kräutler Elektromaschinen GmbH, Elco Motor Yachts, TEMA, Transfluid, Torqeedo, Oceanvolt, Piktronik, Star Investments. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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