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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Oceania Electric Motor Market Analysis
Australia holds a significant market Oceania electric motor market share owing to rising demand for household and industrial appliances
A growing manufacturing sector in Australia is catering to an increased demand for electric motors for compressors, fans and blowers, and heavy-duty equipment. Prominent fan manufacturers in the country include Aerotech Fans Pty Ltd, AirEng Pty Ltd, and Aerovent Australia Pty Ltd.
In New Zealand, the prevalence of standards such as Minimum Energy Performance Standards (MEPS) for three-phase cage induction electric motors (motors, or electric motors) is ensuring the quality of electric motors sold in the country.
Papua New Guinea is witnessing an increased deployment of electric vehicles due to the target set out by the Nationally Determined Contribution (NDC) of the country to increase the share of renewable energy as the source of electricity. The adoption of electric vehicles will create a drop in oil consumption and reduce emissions by up to 22% by 2035. With the growing adoption of electric vehicles, the demand for electric motors is anticipated to rise.
The Fiji Low Emission Development Strategy aims to achieve net zero carbon emissions by 2050. It is aimed at enabling Fiji to transform its energy sector with a wide array of on-grid and off-grid renewable energy generation. The adoption of clean energy for domestic, commercial, and industrial use as well as the conversion of Fiji's land transportation networks to electric cars, is anticipated to aid the Oceania electric motor market growth.
Oceania Electric Motor Market Report Snapshots
Oceania Electric Motor Market Size
Oceania Electric Motor Market Trends
Oceania Electric Motor Market Analysis
Oceania Electric Motor Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the Oceania electric motor market reached an approximate value of USD 1,301.88 million.
The market is expected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2,000.47 million by 2032.
Electric motors operate by the interaction between electric current in a wire winding and the motor's magnetic field to generate a torque that is applied on the motor's shaft.
An electric motor is a device designed to convert electrical energy into mechanical energy.
The major drivers of the market include governmental policies to boost EV use, rising investment in home appliances, and the use of HVAC systems.
Key trends aiding market expansion include the technological advancement of electric motors, the adoption of electric vehicles, and the transition toward renewable energy.
The major applications of the product include residential and commercial, mobility, and industrial, among others.
The major countries include Australia, New Zealand, Papua New Guinea, and Fiji, among others.
The prominent players in the market are TECO Electric & Machinery Co., Ltd., WEG S.A., Regal Rexnord Corporation, ABB Ltd., Emerson Electric Co., Nidec Corporation, General Electric Company, and Toshiba International Corporation, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124