Turkey Electric Motor Market (2024-2030) | Size, Growth, Segmentation, Revenue, Analysis, Industry, Value, Trends, Share, Outlook
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: ETC041119 | Publication Date: Dec 2023 | Updated Date: Apr 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Turkey Electric Motor Market Competition 2023
Turkey Export Potential Assessment For Electric Motor Market (Values in Thousand)
Topics Covered in the Turkey Electric Motor Market
Turkey 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.
Turkey Electric Motor Market Synopsis
Turkey Electric Motor Market has witnessed significant growth over recent years, driven by various factors, including technological advancements and rising demand for energy-efficient products. Electric motors are a critical component in a wide range of applications, ranging from home appliances to industrial machines. However, players must address various challenges, including stiff competition from imports and the availability of raw materials. Nonetheless, the top players in the market are investing in research and development to produce high-quality, efficient, and cost-effective electric motors. As the industry continues to evolve, Turkey is poised to become a significant player in the global electric motor market.
According to 6Wresearch, the Turkey Electric Motor Market size is expected to grow at a CAGR of 7.3% during the forecast period of 2024-2030. One of the biggest drivers of the Turkey electric motor market is the country's growing industrialization and urbanization. With a rising demand for manufacturing and industrial automation, the demand for electric motors has grown substantially in the last few years. Besides, the country's government is also taking initiatives to switch to sustainable technologies and reduce carbon emissions. However, the Turkey electric motor market also faces a few challenges that hinder its growth. One of the biggest challenges is the lack of standardization and regulations for electric motors. The market is highly fragmented, and many small-scale manufacturers operating without any quality standards and certifications. This creates a lack of trust among consumers, leading to a reluctance to switch to electric motors. Apart from this, there are several trends shaping the Turkey electric motor market growth such as increasing demand for smart electric motors. Companies are deploying technologies such as IoT, automation, and AI to develop intelligent electric motors that can communicate, analyze, and optimize their performance. The Turkey electric motor market presents several lucrative opportunities for players in the industry. With the country's growing focus on sustainability, there is a high demand for electric motors that can reduce energy consumption and carbon emissions. Companies can capitalize on this opportunity by offering energy-efficient and technologically advanced electric motors that cater to different industrial and commercial applications.
Government policies and schemes introduced in the Turkey Electric Motor Market
The Turkey Electric Motor Industry is booming, and with the government's initiatives and policies, it will continue to grow. The government of Turkey has introduced a plethora of schemes and policies to support the electric motor industry. These policies and schemes aim to create a sustainable and efficient electric motor market while reducing the environmental impact of combustion engines. The government of Turkey has introduced several policies and schemes in the electric motor market. One of the most significant ones is the Electric Vehicle Industry and Technology Strategy; it has been introduced to expand the domestic EV industry, which includes the production of EVs, the development of charging infrastructure, and the creation of battery production facilities. This scheme aims to produce over two million EVs by 2030. Additionally, the government has introduced incentives such as tax exemptions on EVs, reduced price on charging infrastructure equipment, and decreased road tolls for electric vehicles.
Leading players in the Turkey Electric Motor Market
There are several players dominating the Turkey Electric Motor Market Share such as ABB, Siemens, Toshiba, General Electric, and many more. Siemens is one of the most well-known names in the electric motor industry. They offer a range of electric motors for various applications such as industrial use, marine, and rail. Their products are known for their reliability, efficiency, and power. ABB is another renowned company; they offer a wide range of electric motors, including synchronous, asynchronous, and DC motors. Their motors have excellent energy efficiency and a low lifecycle cost. Toshiba is a well-known brand in the electric motor industry and has a sizeable customer base. Their electric motors are widely used in industrial, commercial, and residential applications. Toshiba's motors are known for their high performance, reliability, and energy efficiency.
Market Analysis by Motor Type
According to Shivankar, Research Manager, 6Wresearch, the AC motor segment is growing at a faster rate than the others owing to high adaptability and energy efficiency of these motors.
Market Analysis by Application
By Application, the industrial machinery and transportation are experiencing remarkable growth in the electric motor market segment on account of country’s rapidly evolving manufacturing sector, while the increasing number of electric cars and bikes in the country is driving growth in the transportation segment.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 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
- Turkey Electric Motor Market Outlook
- Market Size of Turkey Electric Motor Market, 2023
- Forecast of Turkey Electric Motor Market, 2030
- Historical Data and Forecast of Turkey Electric Motor Revenues & Volume for the Period 2020 - 2030
- Turkey Electric Motor Market Trend Evolution
- Turkey Electric Motor Market Drivers and Challenges
- Turkey Electric Motor Price Trends
- Turkey Electric Motor Porter's Five Forces
- Turkey Electric Motor Industry Life Cycle
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Motor Type for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Voltage Range for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 10-20 V for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 21-60 V for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Application for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Industrial Machinery for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Motor Vehicles for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Heating, ventilating, and cooling (HVAC) equipment for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Aerospace & transportation for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Household Appliances for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Other for the Period 2020 - 2030
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2020 - 2030
- Historical Data and Forecast of Turkey 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 Turkey 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 Turkey 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 Turkey Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2020 - 2030
- Turkey Electric Motor Import Export Trade Statistics
- Market Opportunity Assessment By Motor Type
- Market Opportunity Assessment By Voltage Range
- Market Opportunity Assessment By Application
- Market Opportunity Assessment By Speed (RPM)
- Turkey Electric Motor Top Companies Market Share
- Turkey Electric Motor Competitive Benchmarking By Technical and Operational Parameters
- Turkey Electric Motor Company Profiles
- Turkey 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)
Turkey Electric Motor Market (2024-2030): FAQs
The Turkey Electric Motor Market is anticipated to rise significantly over the forecast period due to the rising demand for eco-friendly and energy-efficient technologies.
The government of the country is promoting renewable energy sources which also stimulate the growth of this market.
Significant players that are operating in the market and coming up with better products are ABB Ltd., Siemens AG, Nidec Corporation, WEG Industries SA, and Regal Beloit Corporation.
In terms of speed, the high-speed electric motor has more chances to grow in the market attributed to its rising demand.
| 1. Executive Summary |
| 2. Introduction |
| 2.1. Report Description |
| 2.2. Key Highlights of The Report |
| 2.3. Market Scope & Segmentation |
| 2.4. Research Methodology |
| 2.5. Assumptions |
| 3. Turkey Electric Motor Market Overview |
| 3.1. Turkey Country Indicators |
| 3.2. Turkey Electric Motor Market Revenues, 2020-2030F |
| 3.3. Turkey Electric Motor Market Revenue Share, By Voltage, 2020 & 2030F |
| 3.4. Turkey Electric Motor Market Revenue Share, By Types, 2020 & 2030F |
| 3.5. Turkey Electric Motor Market Revenue Share, By Applications, 2020 & 2030F |
| 3.6. Turkey Electric Motor Market Revenue Share, By End-Users, 2020 & 2030F |
| 3.7. Turkey Electric Motor Market - Industry Life Cycle |
| 3.8. Turkey Electric Motor Market - Porter’s Five Forces |
| 4. Turkey Electric Motor Market Dynamics |
| 4.1. Impact Analysis |
| 4.2. Market Drivers |
| 4.3. Market Restraints |
| 5. Turkey Electric Motor Market Trends |
| 6. Turkey Electric Motor Market Overview, By Voltage |
| 6.1. Turkey Low Voltage Electric Motor Market Revenues, 2020-2030F |
| 6.2. Turkey Medium Voltage Electric Motor Market Revenues, 2020-2030F |
| 6.3. Turkey High Voltage Electric Motor Market Revenues, 2020-2030F |
| 7. Turkey Electric Motor Market Overview, By Types |
| 7.1. Turkey Electric Motor Market Revenues, By AC Type, 2020-2030F |
| 7.2. Turkey Electric Motor Market Revenues, By DC Type, 2020-2030F |
| 8. Turkey Electric Motor Market Overview, By Applications |
| 8.1. Turkey Electric Motor Market Revenues, By Pump Application, 2020-2030F |
| 8.2. Turkey Electric Motor Market Revenues, By Fan Application, 2020-2030F |
| 8.3. Turkey Electric Motor Market Revenues, By Conveyor Application, 2020-2030F |
| 8.4. Turkey Electric Motor Market Revenues, By Compressors Application, 2020-2030F |
| 8.5. Turkey Electric Motor Market Revenues, By Other Applications, 2020-2030F |
| 9. Turkey Electric Motor Market Overview, By End-Users |
| 9.1. Turkey Electric Motor Market Revenues, By Industrial Processing, 2020-2030F |
| 9.2. Turkey Electric Motor Market Revenues, By Commercial HVAC, 2020-2030F |
| 9.3. Turkey Electric Motor Market Revenues, By Automotive, 2020-2030F |
| 9.4. Turkey Electric Motor Market Revenues, By Consumer Appliances, 2020-2030F |
| 9.5. Turkey Electric Motor Market Revenues, By Power Generation, 2020-2030F |
| 9.6. Turkey Electric Motor Market Revenues, By Others, 2020-2030F |
| 10. Turkey Electric Motor Market - Key Performance Indicators |
| 11. Turkey Electric Motor Market - Opportunity Assessment |
| 11.1. Turkey Electric Motor Market Opportunity Assessment, By Types, 2030F |
| 11.2. Turkey Electric Motor Market Opportunity Assessment, By Applications, 2030F |
| 12. Turkey Electric Motor Market Competitive Landscape |
| 12.1. Turkey Electric Motor Market Revenue Share, By Companies, 2023 |
| 12.2. Turkey Electric Motor Market Competitive Benchmarking, By Operating & Technical Parameters |
| 13. Company Profiles |
| 14. Key Recommendations |
| 15. Disclaimer |
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: ETC041119 | Publication Date: Jan 2021 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Turkey Electric Motor Market | Country-Wise Share and Competition Analysis
In the year 2021, China was the largest exporter in terms of value, followed by Germany. It has registered a growth of 47.14% over the previous year. While Germany registered a growth of 11.35% as compared to the previous year. In the year 2017, China was the largest exporter followed by Germany. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Turkey has a Herfindahl index of 1605 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of 2328 which signifies moderately concentrated in the market.
Turkey Electric Motor Market - Export Market Opportunities
Latest 2023 Developments of the Turkey Electric Motor Market
The Turkey Electric Motor Market is propelling and there are a number of developments that are taking place in this market. The rising focus on sustainability and energy efficiency is among the most prominent developments in this sector. Manufacturers now design electric motors which consumer less power and deliver higher performance. Shift towards automation in many sectors is another huge development going on in the market. The emergence of Industry 4.0 technologies necessitates smart electric motor solutions to drive equipment and machine. Additionally, there is a rising demand for application and customized specific electric motors tailored to align with particular market requirements like HVAC systems, robotics, and packaging machinery. These developments are fueling the Turkey Electric Motor Market Growth.
Topics Covered in Turkey Electric Motor Market Report
Turkey Electric Motor Market report thoroughly covers the market by motor type, voltage, application, and speed. The market 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.
Turkey Electric Motor Market is projected to grow over the coming year. The Turkey Electric Motor Market report is a part of our periodical regional publication Middle East Electric Motor Market outlook report. 6W tracks the electric motor market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Electric Motor Market outlook report annually.
Turkey Electric Motor Market Synopsis
The Turkey Electric Motor Market is anticipated to rise significantly over the forecast period due to the rising demand for eco-friendly and energy-efficient technologies. The government of the country is promoting renewable energy sources which also stimulate the growth of this market.
According to 6Wresearch, the Turkey Electric Motor Market size is estimated to grow highly during 2020-2026. The growing demand for eco-friendly and energy-efficient technologies is among the primary drivers for the market progression. In addition, the government is promoting renewable energy sources which also stimulate the sector progression. There is a rising demand for electric motors in a number of applications like pumps, compressors, machines, and fans as more sectors are established and they all require these electric motors. The sector has been propelling well and it will continue to propel efficiently since it has been aiding other industries to propel efficiently. The future of this market looks bright since it meets the needs of many sectors and it plays the most significant role in the automotive sector as new electric vehicles are coming up in the market and are being adopted by consumers, and these electric vehicles need electric motors, which is expanding Turkey Electric Motor Market Share.
COVID-19 Impact on Turkey Electric Motor Market
There is no wonder that the outburst of the pandemic affected many sectors worldwide and the Electric Motor market in Turnkey was no exception. The market had to face many challenges which affected its growth significantly. The consumer industries were going through a tough time and their operation was hampered negatively, which affected the demand and sales of electric motors. The automotive industry is the most significant consumer of electric motors and the negative impact of the pandemic on this market affected the electric motor industry in Turkey. Numerous companies were forced to halt their operation which became the reason for the downfall of this sector. Even the Middle East Electric Motor Market came across many challenges during the pandemic.
Turkey Electric Motor Industry: Key Players
Significant players that are operating in the market and coming up with better products are:
- ABB Ltd.
- Siemens AG
- Nidec Corporation
- WEG Industries SA
- Regal Beloit Corporation
These market players focus on partnerships and collaborations with other market leaders for technology transfer or joint ventures which help them expand their product portfolio across the globe.
Market by Motor Type
Based on motor types, the market is segmented into Alternate Current (AC) Motor, Direct Current (DC) Motor, and Hermetic Motor, and only the alternate current segment will grow in the sector on account of the increasing demand for this motor type in the market.
Market by Application
According to Aditi, Senior Research Analyst, 6Wresearch, it is the HVAC segment that will propel the market over the forecast period.
Market by Speed
In terms of speed, the high-speed electric motor has more chances to grow in the market attributed to its rising demand.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2016 to 2019.
- Base Year: 2019
- Forecast Data until 2026.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Turkey Electric Motor Market Outlook
- Market Size of Turkey Electric Motor Market, 2019
- Forecast of Turkey Electric Motor Market, 2026
- Historical Data and Forecast of Turkey Electric Motor Revenues & Volume for the Period 2016 - 2026
- Turkey Electric Motor Market Trend Evolution
- Turkey Electric Motor Market Drivers and Challenges
- Turkey Electric Motor Price Trends
- Turkey Electric Motor Porter's Five Forces
- Turkey Electric Motor Industry Life Cycle
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Motor Type for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Output Power for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Voltage Range for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 10-20 V for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 21-60 V for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Application for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Industrial machinery for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Motor vehicles for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Heating, ventilating, and cooling (HVAC) equipment for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Aerospace & transportation for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Household appliances for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Other for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Low-Speed Electric Motors (Less Than 1,000 RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Medium-Speed Electric Motors (1,001-25,000 RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By High-Speed Electric Motors (25,001-75,000 RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Turkey Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2016 - 2026
- Turkey 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)
- Turkey Electric Motor Top Companies Market Share
- Turkey Electric Motor Competitive Benchmarking By Technical and Operational Parameters
- Turkey Electric Motor Company Profiles
- Turkey Electric Motor Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following 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
- 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))
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