Electric Motors Market is Expected to Grow at a CAGR of 6.3% by 2027, With a Significant Demand for Transportation Products That are More environment Friendly, Says Absolute Markets Insights
Some of the players operating in the electric motors market are ABB, General Electric Company, Emerson Electric Co., Hitachi, Johnson Electric Holdings Limited
PUNE, India, Jan. 7, 2020 /PRNewswire/ -- Electric motors are gaining traction in the automotive industry for the transportation of humans, materials, and objects. The general awareness regarding the ill effects of fossil fuel burning and global warming have led users to look for alternatives which would suffice their transportation needs. The Electric motors market for electric vehicles has been growing year-on-year and provides a key application area for electric motors on a global scale.
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Application areas such as automotive, industrial machinery and HVAC equipment have led motor manufacturers to devise improved designs of the motors which meet the basic user requirements. Also, conducive government initiatives towards the awareness and adoption of electric vehicles are expected to aid the production and development capabilities of motor manufacturers. Furthermore, motor manufacturers are investing more towards the development of products owing to demand improvement in motor efficiency. The inclusion of individual motors for the wheels in electric vehicles is providing sufficient demand for Electric motors market players.
The detailed research study provides qualitative and quantitative analysis of the electric motors market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue as well as sales volume across regions and further, across all the major countries. The supply side analysis covers regional production volume and capacity analysis. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa and Latin America.
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Key Findings-
- Asia Pacific is observed to be the largest region in terms of revenue for the Electric motors market. The abundance of manufacturers in the region coupled with growing awareness regarding electric mobility are expected to aid the growth.
- HVAC equipment is expected to grow at the fastest rate amongst the various applications of electric motors. The changing climatic conditions around the world are responsible for the growing demand for HVAC equipment. In turn, the demand for electric motors is expected to surge accordingly.
- Induction AC motors are observed to gather the highest revenue figures amongst the various types of motors. Attributes such as low maintenance, longer operational life, and applicability in harsh conditions amongst others are helping the growing adoption of induction AC motors.
- Some of the players operating in the electric motors market are ABB, General Electric Company, Emerson Electric Co., Hitachi, Johnson Electric Holdings Limited, Robert Bosch GmbH, Rockwell Automation Inc., Siemens, Toshiba International, WEG, Nidec Corporation, Allied Motion Inc., AMETEK Inc.., Arc Systems Inc., Denso, Brook Crompton, DR. FRITZ FAULHABER GMBH & CO. KG, Franklin Electric, maxon motor ag, Regal Beloit Corporation, and TECO-Westinghouse amongst others.
- Electric motors market participants are actively investing in product development in order to reduce losses in motor operations and improved product life.
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Electric Motors Market-
- By Type
- Alternating Current (AC) Motor
- Synchronous AC Motor
- Induction AC Motor
- Direct Current (DC) Motor
- Brushed DC Motor
- Brushless DC Motor
- Hermetic Motor
- Electric motors market By Power Output
- Integral HP Output
- Fractional HP Output
- By Application
- Industrial Machinery
- Automobile
- HVAC Equipment
- Aerospace
- Household Appliances
- Others
- By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembour
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of South Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.
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