Europe Electric Motor Market is Expected to Reach $22.32 Billion by 2022

Jun 28, 2016, 08:00 ET from Allied Market Research

PORTLAND, Oregon, June 28, 2016 /PRNewswire/ --

According to a new report by Allied Market Research titled, "Europe Electric Motor Market", the European electric motor market is expected to generate revenue of $22.32 billion by 2022, growing at a CAGR of 3.7% during the forecast period (2016 - 2022). Germany accounted for the highest share in 2014, followed by France. Growing adoption of electric motors in various applications including industrial machinery, motor vehicles, heating ventilating and cooling (HVAC) equipment, aerospace & transportation, household appliances accelerates the growth of this market.

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To know more about the report, Visit website at: https://www.alliedmarketresearch.com/europe-electric-motor-market

By type, the European electric motor market is segmented into alternative current (AC) motors, direct current (DC) motors, and hermetic motors. The AC motor segment dominated the market with around 70% share in 2014 and is expected to continue its dominance during the forecast period. This segment is further sub-segmented into synchronous AC motors and induction motors.

Based on the output power, the fractional horsepower (FHP) segment leads the market. The segment constituted around 88% revenue share in 2014 and is anticipated to remain the highest revenue contributor by 2022. Based on the various key applications of electric motors, the motor vehicle and industrial machinery segments collectively accounted for over 72% share of the market revenue in 2014.

View the global report on electric motor at https://www.alliedmarketresearch.com/electric-motor-market

Key findings of the study: 

  • The European electric motor market is likely to grow at a moderate rate in the future, owing to increasing demand for products equipped with electric motors
  • AC motors would lead the market throughout the analysis period, while hermetic motors segment would witness the highest growth during 2016 - 2022
  • The application of electric motors in heating ventilation and cooling (HVAC) equipment sector is anticipated to register the highest CAGR of 6.4% during the forecast period
  • Germany would remain the highest revenue-generating country in this market throughout 2014 - 2022

The major players in this market include Ametek Inc., Siemens AG, Baldor Electric, Allied Motion Technologies Inc., ARC Systems Inc., Asmo Co Ltd, Brook Crompton UK Limited, Franklin Electric Co. Inc., Rockwell Automation, Inc., and Johnson Electric Holdings Ltd. These players consistently launch new products to enhance their existing portfolios and expand their customer base. In addition, strategic alliances and mergers & acquisitions provide growth opportunities for geographical expansion and a wider market reach.

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SOURCE Allied Market Research