Slovakia Electric Motor Market (2024-2030) | Analysis, Trends, Share, Value, Size, Forecast, Industry, Outlook, Revenue, Growth & Companies

Market Forecast By Motor Type (Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor), By Output Power, By Voltage Range (9 V & Below, 10-20 V, 21-60 V, 60 V & Above), By Application (Industrial machinery, Motor vehicles, Heating, ventilating, and cooling (HVAC) equipment, Aerospace & transportation, Household appliances, Other), By Speed (RPM) (Low-Speed Electric Motors (Less Than 1,000 RPM), Medium-Speed Electric Motors (1,001-25,000 RPM), High-Speed Electric Motors (25,001-75,000 RPM), Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM)) And Competitive Landscape

Product Code: ETC041101 Publication Date: Jan 2021 Updated Date: Jun 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Slovakia Electric Motor Market Competition 2023

Slovakia Electric Motor market currently, in 2023, has witnessed an HHI of 1781, Which has decreased slightly as compared to the HHI of 2583 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Slovakia Export Potential Assessment For Electric Motor Market (Values in USD Thousand)


Slovakia Electric Motor Market Highlights

Report Name Slovakia Electric Motor Market
Forecast period 2024-2030
CAGR 9.4%
Growing Sector Manufacturing and Automotive 

Topics Covered in the Slovakia Electric Motor Market

Slovakia Electric Motor Market report thoroughly covers the market by motor type, by voltage range, by application, and by speed. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Slovakia Electric Motor Market Synopsis

Slovakia Electric Motor Market is projected to grow during the forecast period. The increase can be attributed to the growing demand for electric vehicles, along with the government’s support and investments in the EV industry. in general, Slovakia is quickly becoming a hub for electric vehicles (EVs), and as the demand for sustainable transportation grows worldwide, the country’s electric motor market is also seizing promising opportunities. The Slovakia electric motor market presents significant opportunities and challenges that will shape the country’s automotive industry's future.

According to 6Wresearch, the Slovakia Electric Motor Market size is set to register growth with expected CAGR of 9.4% during the forecast period of 2024-2030. One of the main drivers of the Slovakia electric motor market is the country’s dedication to sustainable mobility, which is supported by favorable government regulations and incentives. The Ministry of Transport and Construction offers various subsidies, tax breaks, and financial support to promote electric vehicles' purchase and use. In addition, Slovakia’s strategic location in Europe automotive industry and the country’s well-established infrastructure for auto parts and component production have also attracted global automakers, including Jaguar Land Rover and Volkswagen, to establish EV manufacturing plants in the region. Despite the positive outlook and opportunities, the Slovakia electric motor industry faces several challenges, including the lack of charging infrastructure, limited battery technology, and the high upfront cost of electric vehicles. The infrastructure for charging stations, which is critical to the growth of e-mobility, remains a challenge in Slovakia. The limited battery technology also hinders the development of high-capacity and fast-charging batteries that can meet the electric vehicle’s range and performance requirements. Moreover, the high upfront cost of EVs due to the battery and powertrain technology remains a significant obstacle for mainstream adoption. The challenges facing the Slovakia electric motor industry also create numerous opportunities for the industry's stakeholders. The Slovakia electric motor market growth prospects present opportunities for investment and business development. The expansion of the charging infrastructure, the development of new and more efficient battery technology, and the adoption of circular economy principles to optimize the EVs’ end-of-life value are some of the areas that offer potential for innovation and growth.

Government policies and schemes introduced in the Slovakia Electric Motor Market

The Slovakia electric motor market has seen significant growth in recent years, due to government schemes and policies that have incentivized the adoption of energy-efficient technologies. The country's focus on reducing emissions and increasing energy efficiency has become a priority in the national agenda to promote and support sustainable growth. The first government policy aimed at promoting energy-efficient technology in Slovakia motor market is the Ekoenergia program. This program aims to promote energy-efficient technologies that help reduce the country's carbon footprint. Another policy that has been instrumental in the growth of Slovakia's Electric Motor Market is the National Energy Efficiency Action Plan. This program aims to reduce the country's energy consumption by 30% by 2030. One of the ways the plan achieves this is by motivating companies to adopt energy-efficient technologies. Electric Motor companies have been encouraged to invest in more efficient products, get innovative with their research and development, and improve their production processes. This plan has a domino effect, as companies that produce motor-driven systems are also motivated to innovate their products, leading to better energy-efficient solutions.

Leading players in the Slovakia Electric Motor Market

Many notable companies have emerged as leaders in this market. For instance,

  • Siemens
  • SEW Eurodrive
  • ATAS
  • Siemens Gamesa
  • ABB

Future Insights of the Slovakia Electric Motor Market

The future of the Slovakia electric motor market looks promising, with several factors poised to drive continued growth and innovation. One of the key trends is the advancement in electric motor technologies, which is expected to further enhance their efficiency, reliability, and versatility. Developments such as the integration of smart technologies and IoT capabilities will enable more precise control and monitoring, leading to improved performance and reduced maintenance costs.

Overall, the Slovakia electric motor market is set to play a crucial role in the country’s sustainable development goals, driving economic growth while contributing to global environmental objectives. The convergence of technological advancements, government support, and growing environmental awareness creates a fertile ground for innovation and expansion in the years to come.

Market Analysis by Application

In terms of Application, industrial machinery segment holds the largest market share, and the demand for electric motors in this sector is expected to witness significant growth due to the surge in industries. The motor vehicle segment is also expected to grow, propelled by an increase in electric vehicles' production.

Market Analysis by Voltage

According to Shivani, Senior Research Analyst, 6Wresearch, the majority of electric motors used in Slovakia fall under the voltage range of 21-60 V, which is expected to continue to dominate the Slovakia Electric Motor Market Share in the future years. The primary reason behind the growth of this segment is the wide range of applications in different industries.

Market Analysis by Speed

By Speed, the high-speed electric motor segment has been witnessing noticeable growth, driven by the advancements in technology, and is most used in applications such as aerospace and transportation.

Key Attractiveness of the Report

  • 10 Years Market Numbers.
  • Historical Data Starting from 2020 to 2023.
  • Base Year: 2023
  • Forecast Data until 2030.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects

Key Highlights of the Report

  • Slovakia Electric Motor Market Outlook
  • Market Size of Slovakia Electric Motor Market, 2023
  • Forecast of Slovakia Electric Motor Market, 2030
  • Historical Data and Forecast of Slovakia Electric Motor Revenues & Volume for the Period 2020 - 2030
  • Slovakia Electric Motor Market Trend Evolution
  • Slovakia Electric Motor Market Drivers and Challenges
  • Slovakia Electric Motor Price Trends
  • Slovakia Electric Motor Porter's Five Forces
  • Slovakia Electric Motor Industry Life Cycle
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Motor Type for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Output Power for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Voltage Range for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By 10-20 V for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By 21-60 V for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Application for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Industrial machinery for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Motor vehicles for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Heating, ventilating, and cooling (HVAC) equipment for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Aerospace & transportation for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Household appliances for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Other for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Low-Speed Electric Motors (Less Than 1,000 RPM) for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Medium-Speed Electric Motors (1,001-25,000 RPM) for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By High-Speed Electric Motors (25,001-75,000 RPM) for the Period 2020 - 2030
  • Historical Data and Forecast of Slovakia Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2020 - 2030
  • Slovakia Electric Motor Import Export Trade Statistics
  • Market Opportunity Assessment By Motor Type
  • Market Opportunity Assessment By Output Power
  • Market Opportunity Assessment By Voltage Range
  • Market Opportunity Assessment By Application
  • Market Opportunity Assessment By Speed (RPM)
  • Slovakia Electric Motor Top Companies Market Share
  • Slovakia Electric Motor Competitive Benchmarking By Technical and Operational Parameters
  • Slovakia Electric Motor Company Profiles
  • Slovakia Electric Motor Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Motor Type

  • Alternate Current (AC) Motor
  • Direct Current (DC) Motor
  • Hermetic Motor

By Voltage Range

  • 9 V & Below
  • 10-20 V
  • 21-60 V
  • 60 V & Above

By Application

  • Industrial Machinery
  • Motor Vehicles
  • Heating
  • Ventilating
  • And Cooling (HVAC) Equipment
  • Aerospace & Transportation
  • Household Appliances
  • Other

By Speed (RPM)

  • Low-Speed Electric Motors (Less Than 1,000 RPM)
  • Medium-Speed Electric Motors (1,001-25,000 RPM)
  • High-Speed Electric Motors (25,001-75,000 RPM)
  • Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM)
Slovakia Electric Motor Market (2024-2030): FAQs
Slovakia produces a range of electric motors, including AC (alternating current) motors, DC (direct current) motors, and servo motors.
The electric motor market growth is driven by initiatives aimed at reducing carbon emissions, stricter regulations against harmful emissions, and affordable electric vehicles. However, the market faces some challenges such as lack of standardization, high initial costs of equipment, and limited consumer awareness.
Slovakia electric motor industry is a hotbed of innovation, with various SMEs developing innovative motors that consume less energy and have lower maintenance costs.
The future of Slovakia electric motor market looks very promising. The increase in demand for electric vehicles and the need to reduce carbon emissions will drive the market growth.
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1 Executive Summary
2 Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 Slovakia Electric Motor Market Overview
3.1 Slovakia Country Macro Economic Indicators
3.2 Slovakia Electric Motor Market Revenues & Volume, 2020 & 2030F
3.3 Slovakia Electric Motor Market - Industry Life Cycle
3.4 Slovakia Electric Motor Market - Porter's Five Forces
3.5 Slovakia Electric Motor Market Revenues & Volume Share, By Motor Type, 2020 & 2030F
3.6 Slovakia Electric Motor Market Revenues & Volume Share, By Output Power, 2020 & 2030F
3.7 Slovakia Electric Motor Market Revenues & Volume Share, By Voltage Range, 2020 & 2030F
3.8 Slovakia Electric Motor Market Revenues & Volume Share, By Application, 2020 & 2030F
3.9 Slovakia Electric Motor Market Revenues & Volume Share, By Speed (RPM), 2020 & 2030F
4 Slovakia Electric Motor Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5 Slovakia Electric Motor Market Trends
6 Slovakia Electric Motor Market, By Types
6.1 Slovakia Electric Motor Market, By Motor Type
6.1.1 Overview and Analysis
6.1.2 Slovakia Electric Motor Market Revenues & Volume, By Motor Type, 2020-2030F
6.1.3 Slovakia Electric Motor Market Revenues & Volume, By Alternate Current (AC) Motor, 2020-2030F
6.1.4 Slovakia Electric Motor Market Revenues & Volume, By Direct Current (DC) Motor, 2020-2030F
6.1.5 Slovakia Electric Motor Market Revenues & Volume, By Hermetic Motor, 2020-2030F
6.2 Slovakia Electric Motor Market, By Output Power
6.2.1 Overview and Analysis
6.3 Slovakia Electric Motor Market, By Voltage Range
6.3.1 Overview and Analysis
6.3.2 Slovakia Electric Motor Market Revenues & Volume, By 9 V & Below, 2020-2030F
6.3.3 Slovakia Electric Motor Market Revenues & Volume, By 10-20 V, 2020-2030F
6.3.4 Slovakia Electric Motor Market Revenues & Volume, By 21-60 V, 2020-2030F
6.3.5 Slovakia Electric Motor Market Revenues & Volume, By 60 V & Above, 2020-2030F
6.4 Slovakia Electric Motor Market, By Application
6.4.1 Overview and Analysis
6.4.2 Slovakia Electric Motor Market Revenues & Volume, By Industrial machinery, 2020-2030F
6.4.3 Slovakia Electric Motor Market Revenues & Volume, By Motor vehicles, 2020-2030F
6.4.4 Slovakia Electric Motor Market Revenues & Volume, By Heating, ventilating, and cooling (HVAC) equipment, 2020-2030F
6.4.5 Slovakia Electric Motor Market Revenues & Volume, By Aerospace & transportation, 2020-2030F
6.4.6 Slovakia Electric Motor Market Revenues & Volume, By Household appliances, 2020-2030F
6.4.7 Slovakia Electric Motor Market Revenues & Volume, By Other, 2020-2030F
6.5 Slovakia Electric Motor Market, By Speed (RPM)
6.5.1 Overview and Analysis
6.5.2 Slovakia Electric Motor Market Revenues & Volume, By Low-Speed Electric Motors (Less Than 1,000 RPM), 2020-2030F
6.5.3 Slovakia Electric Motor Market Revenues & Volume, By Medium-Speed Electric Motors (1,001-25,000 RPM), 2020-2030F
6.5.4 Slovakia Electric Motor Market Revenues & Volume, By High-Speed Electric Motors (25,001-75,000 RPM), 2020-2030F
6.5.5 Slovakia Electric Motor Market Revenues & Volume, By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM), 2020-2030F
7 Slovakia Electric Motor Market Import-Export Trade Statistics
7.1 Slovakia Electric Motor Market Export to Major Countries
7.2 Slovakia Electric Motor Market Imports from Major Countries
8 Slovakia Electric Motor Market Key Performance Indicators
9 Slovakia Electric Motor Market - Opportunity Assessment
9.1 Slovakia Electric Motor Market Opportunity Assessment, By Motor Type, 2020 & 2030F
9.2 Slovakia Electric Motor Market Opportunity Assessment, By Output Power, 2020 & 2030F
9.3 Slovakia Electric Motor Market Opportunity Assessment, By Voltage Range, 2020 & 2030F
9.4 Slovakia Electric Motor Market Opportunity Assessment, By Application, 2020 & 2030F
9.5 Slovakia Electric Motor Market Opportunity Assessment, By Speed (RPM), 2020 & 2030F
10 Slovakia Electric Motor Market - Competitive Landscape
10.1 Slovakia Electric Motor Market Revenue Share, By Companies, 2023
10.2 Slovakia Electric Motor Market Competitive Benchmarking, By Operating and Technical Parameters
11 Company Profiles
12 Recommendations
13 Disclaimer
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