Browse in-depth TOC on "Electric Motors Market"
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Low voltage motors by voltage, is expected to be the second largest Electric Motors Market during the forecast period
The Electric Motor Market can also be segmented, based on voltage, into low voltage motors, medium voltage motors, and high voltage motors. Low voltage motors are expected to be the second largest segment during the forecast period. The cost of operation, installation, and maintenance of those motors is very low. These low-voltage electric motors are being increasingly adopted in process and motor-driven systems due to relatively low setup and maintenance costs and high reliability. These motors are being designed for energy efficiency levels that meet or even exceed the set standards in order to reduce the operational cost of these motors to businesses.
Commercial segment, by end-user, is expected to second largest segment during forecast period
By end user, the Electric Motors Market has been segmented into industrial, commercial, residential, transportation, and agriculture. Commercial segment is expected to be the second largest segment during the forecast period. Increasing infrastructure investment is expected to increase deployment in commercial segments. The major consumers of electric motors include the HVAC systems that are essential not only for comfort but also the air quality in commercial buildings.
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Asia Pacific is expected to be the largest region in the Electric Motors Market during the forecast period
Asia Pacific is expected to be the largest region in the Electric Motors Market during the forecast period. The region's increasing focus on electric motors is due to the Increased investments in the manufacturing and automotive industries. The Asia Pacific region is home to some of the leading electric motors manufacturers such as NIDEC CORPORATION, Hitachi, Ltd, and TECO Electric & Machinery.
Key Players
Some of the major players in the Electric Motors Market are ABB (Switzerland), Siemens (Germany), WEG (Brazil), Wolong Electric (China), and NIDEC CORPORATION (Japan). The major strategies adopted by these players include sales contracts, product launches, investments, collaborations, partnerships, and expansions.
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