Global Electric Motor Market Propelled by Need to Offer Higher Efficiency
Electrification of vehicles and replacement of energy-inefficient motors strengthen growth opportunities, finds Frost & Sullivan's Mechanical Power Transmission team
SANTA CLARA, California, June 22, 2017 /PRNewswire/ -- The global electric motors market is transforming, augmented by increasing electrification of applications across industries, energy-efficiency enhancement in existing applications, and demand for higher-efficiency motors such as brushless direct current (DC) motors. Successful companies will be those that have the ability to provide integrated systems and develop close customer relationships.
Global Electric Motors Market, Outlook 2017, part of Frost & Sullivan's Mechanical Power Transmission Growth Partnership Service program, provides a comprehensive understanding of the electric motor market trends, forecasts and competitive landscape for major players such as ABB, Siemens, Bosch, Nidec Corporation, Johnson Electric, and Denso Corporation. Technologies such as alternating current (AC) motor, DC motor, brushless motor, servo, and stepper motor are analyzed and discussed. End-user industries, including process industries; discrete industries; automobiles; home appliances; heating, ventilation and air conditioning (HVAC); toys; medical devices; business equipment; and electronic gadgets, are assessed.
To schedule a Growth Strategy Dialog and discuss your strategic growth development and the growth opportunities impacting your business, click here.
"Electric motor manufacturers must look toward research and development to improve product efficiency and identify replacement opportunities in existing low-efficiency installations," said Frost & Sullivan Mechanical Power Transmission Research Analyst Krishna Raman. "Developing electric motors for emerging automobile applications such as electrical powered steering (EPS) and anti-locking brake systems (ABS) will act as a differentiating factor."
End-user market trends driving growth in the global electric motor market include:
- Increased sales in industries such as water and wastewater, automobiles, home appliances, renewable energy, HVAC, and discrete manufacturing;
- Incentivizing electric vehicles (EVs) and electrification of car controls that will drive demand for electric motors in EVs and hybrid EVs;
- Demand for permanent magnet (PM) synchronous motor technologies in EVs, HVAC, industrial robots, and in constant speed applications such as fans and blowers;
- Investment in discrete manufacturing sectors such as packaging, plastics, automotive, and unit material handling that creates opportunities for servo and stepper motors;
- Adoption of electronically commutated (EC) motor in HVAC, home appliances, medical devices and business equipment due to demand for noiseless motors;
- Investment by renewable energy sector in servo motors for solar tracking and pitch control of wind turbines; and
- Surge in petrochemical and chemical end-user investment in North America and Asia.
"The cost of electricity is increasing due to the growing share of renewable energy, which is expensive compared to traditional electricity sources," noted Raman. "End users are adopting energy-efficient, brushless, synchronous motor technology to conserve energy, reduce maintenance costs, and increase the efficiency of the overall drive system."
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
Global Electric Motors Market, Outlook 2017
K18A-17
Contact:
Jaylon Brinkley
Corporate Communications – North America
P: 210.247.2481
F: 210.348.1003
E: [email protected]
Share this article