- The demand for electric motors is expected to rise due to the replacement of out-dated low efficient electric motors with high efficient electric motors.
- The growth of electric motors market is primarily attributed to positive economic outlook and growing manufacturing industries in the APAC region.
- The market of electric motors is expected to grow at a slower pace in North American and European regions.
Electric motors are mainly used for the conversion of electrical energy into mechanical energy which can be used in the range of residential, commercial and industrial systems. These motors are most commonly used in fans, pumps, compressors, refrigerators, elevators, vacuum cleaners, and several other systems. The market of electric motors is expected to grow at a slower pace in North American and European region. The demand for electric motors is expected to rise due to the replacement of out-dated low efficient electric motors with high efficient electric motors. In addition, the stringent energy consumption regulations and environment protection acts are the major factors that are driving the electric motors market globally.
Among all the application segments, motor vehicle segment holds the largest market share at present in the electric motors market, whereas; HVAC equipment segment is expected to be the fastest growing application segment in the residential and commercial sector that would result in decreasing the electricity bills and providing high sustainability. The growth of electric motors market is primarily attributed to positive economic outlook and growing manufacturing industries in China, India, South Korea, Indonesia and several other countries in Asia-Pacific region. The demand for electric motors is rapidly shifting from standard efficiency electric motors to high and premium efficiency motors. This shift in trend is directly contributing to revenue growth of electric motors manufacturers. This market research study analyzes the electric motors market on a global level, and provides estimates in terms of revenue 2020 . The report identifies the drivers and restraints affecting the industry and analyzes their impact over the forecast period.
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Moreover, it identifies the significant opportunities for market growth in the coming years. The report segments the market on the basis of geography as North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue.
In addition, the report segments the market based on output powers, which include fractional horsepower (FHP) motors and integral horsepower (IHP) motors. Moreover, the market has been segmented on the basis of types as AC motor, DC motor and hermetic motor. Furthermore, the market is segmented on the basis of application which include motor vehicle, HVAC equipment, industrial machinery, household appliances, aerospace and other transportation equipment, and commercial and other service industry equipment.
All these segments have also been estimated on the basis of geography in terms of revenue. For better understanding of electric motors market, we have given a detailed analysis of the supply chain. In addition, a detailed Porter’s five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness. The report provides company market share analysis of various industry participants.
The key players have also been profiled and their company overview, financial overview, business strategies, SWOT analysis and the recent developments have been covered in the report. Major market participants profiled in this report include Regal Beloit Corp., Baldor Electric Company, ASMO Co. Ltd., Allied Motion Technologies, Inc., Rockwell Automation Inc., and Franklin Electric Co., Inc. among others.
Market segmentation The electric motors market is segmented as below: Electric Motors Market: by Output Power
• Fractional horsepower (FHP) motors
• Integral horsepower (IHP) motors Electric Motors Market: by Type
• AC motors
• DC motors
• Hermetic motors Electric Motors Market: by Application
• Motor Vehicles
• HVAC equipments
• Industrial machinery
• Household appliances
• Aerospace and other transportation equipments
• Commercial and other industry Electric Motors Market: by Geography
• North America o U.S. o Canada o Mexico
• Europe o Germany o France o UK o Italy o Spain o Rest of Europe
• Asia-Pacific o Japan o South Korea o China o India o Rest of Asia-Pacific
• Rest of the World o Middle East o Latin America o Africa