One of the key drivers for the growth of Electric Motors Market is the increasing adoption of electric motors in the industrial machinery along with household appliances. The increase in need of more efficient electric motors for achieving efficiency in usage of energy along with cost effectiveness is driving the growth of the market. The electric motors are used in agricultural equipment. The growth of the agricultural sector and the increase in use of motor operated equipment in the agricultural sector is further expected to drive the demand of the electric motors market. The increase in awareness about the effect of greenhouse gases is also leading to a shift from conventional motors to the electric motors, which is expected to drive the global electric motors market during the forecast period. However, the growth of this market is expected to be restrained by the high cost of electric motors and the lack of awareness for use of electric motors.
The report has been analyzed based on the type, output power, application and region. On the basis of type, the AC (Alternate Current) segment is expected to grow the highest. Alternating current motors convert the electric energy (the alternating current) to the mechanical energy, which is used for functioning by the machines. The easy availability of the alternating current power is also leading to the increased use of AC electric motors, thereby driving the growth of the market. The AC electric motor can be manufactured in various sizes ranging from a few watts to thousands of kilowatts, which makes its useful in all types of applications thereby leading to the growth of the market.
- BB Group Ltd. (U.K.),
- Siemens AG (Germany),
- AMETEK Inc. (U.S.),
- ARC Systems Inc. (U.S.),
- Brook Crompton Americas (U.S.),
- Emerson Electric Co. (U.S.),
- Hitachi, Ltd. (Japan),
- General Electric Company (U.S.),
- Franklin Electric Co., Inc. (U.S.),
- Johnson Electric Holdings Limited (Hong Kong),
- Nidec Corporation (Japan),
- Maxon Motor AG (Switzerland) and others.
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Asia-Pacific accounts for the highest market share
Asia-Pacific region is expected to dominate the Electric motors market, and is projected to grow at the highest CAGR. The growth of the Electric motors market in Asia-Pacific region is attributed to the rapid growth in the agricultural sector. The rapid industrialization and the intense setting up of manufacturing industries which require the use of electric motors of various capacity is expected to drive the market of the electric motors in the region.
Market Research Analysis
Amongst all output power, the integral horsepower is expected to grow rapidly. The integral horsepower electric motors find applications in industrial and commercial purposes such as industrial blowers, compressors, conveying equipment and variable frequency drives which further drives the market of electric motors.
Asia-Pacific region is expected to dominate the Electric motors market with highest CAGR due to the high industrial output in developing nations such as India and China in automotive sectors as well as consumer electronics sector. The rapidly increasing agricultural sector in the region with use of advanced technology in agricultural equipment is further expected to drive the demand for electric motors in the Asia-pacific region.
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Table of Content
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Electric Motors Market, By Type
5 Global Electric Motors Market, By Output Power
List of Tables
Table 1 Global Electric Motors Market, By Type
Table 2 Global Electric Motors Market, By Output Power
Table 3 Global Electric Motors Market, By Application
Table 4 Global Electric Motors Market, By Regions
Table 5 North America Electric Motors Market, By Type
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