The electric motors market in the US is expected to grow by USD 5.25 billion according to Technavio. This marks a significant market slowdown due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 5%.
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Read the 120-page report with TOC on "Electric Motors Market Analysis Report in the US by Product (AC motor, DC motor, and Hermetic motor) and End-user (Automotive, Household appliances, HVAC, Industrial machinery, and Others), and the Segment Forecasts, 2021-2025." Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales and supply functions.
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The electric motors market in the US is driven by government subsidies and incentives for EVs. In addition, the increase in demand for automated equipment in industrial premises is anticipated to boost the growth of the electric motors market in the US.
Major Five Electric Motors Companies in the US:
- ABB Ltd.
- Franklin Electric Co. Inc.
- General Electric Co.
- Hitachi Ltd.
- Johnson Electric Holdings Ltd.
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Electric Motors Market in US Product Outlook (Revenue, USD bn, 2020-2025)
- AC motor - size and forecast 2020-2025
- DC motor - size and forecast 2020-2025
- Hermetic motor - size and forecast 2020-2025
Electric Motors Market in US End-user Outlook (Revenue, USD bn, 2020-2025)
- Automotive - size and forecast 2020-2025
- Household appliances - size and forecast 2020-2025
- HVAC - size and forecast 2020-2025
- Industrial machinery - size and forecast 2020-2025
- Others - size and forecast 2020-2025
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About Technavio
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Our growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Report: https://www.technavio.com/talk-to-us?report=IRTNTR70625
SOURCE Technavio
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