Global Electric Motors Market: Snapshot

The global electric motors market is expected to face significant rise in the coming years due to its uses in broad range of commercial, residential, and industrial applications. These applications generally comprises of refrigerators, elevators, compressors, pumps, fans, and various other systems. Rise in stringent regulations regarding electricity consumption is boosting the growth of the market. Increasing need to reduce the gas effects of green house is bolstering the global market growth. Positive outlook of the manufacturing industries have the potential to boost the market growth of electric motors.

Since electric motor is the most important component used in production of heating, ventilating, and cooling equipment of motor vehicles, it is being majorly demanded in the market. It also finds applications in various home appliances. Rise in earning level leading to increasing disposable income is majorly boosting the demand for global electric motors market. This has led to improved standards of living which is also supplementing the market growth. Optimizing electrical consumption by using energy efficient electric motors is minimizing financial burden on government and consumers.

The global electric motors market is anticipated to attain a valuation of US$ 120.68 bn by the end of 2019.

Global Electric Motors Market to Rise Owing to Increased Consumption of Hermetic Motors

The global electric motors market is segmented into output power, type, and applications. The types of electric motors include hermetic motors, AC motors, and DC motors. AC motors in 2012 accounted for the majority of the share in the global market. AC motors are used in HVAC industrial, equipment, and home appliances and manufacturing facilities. DC motors are extensively used for various speed control applications such as industrial equipment and machineries, electronic toys, motor vehicles. Hermetic motors are expected to witness the fastest growth in the coming years due to rising demand from HVAC manufacturers. This segment is expected to rise at a healthy CAGR of 8.5%.

The output power segment of the global electric motors market is further segmented into two categories namely integral horsepower motors and fractional horsepower motors. Among these, fractional horsepower motors accounted for the largest share in 2012. This rise was due to fractional horsepower motors usage in low power applications. However, the integral horsepower motors is anticipated to rise as the fastest growing segment due to benefits of energy efficiency electric motors and stringent electricity consumptions. Integral horsepower motors is anticipated to witness the rise in next six years.

The global electric motors market finds applications in different sectors such as commercial and other industry, aerospace and other transportation equipment, household appliances, industrial machinery, heating ventilating and cooling equipment, and motor vehicles.

Asia Pacific to Lead the Global Market Due to Consumption from Emerging Economies

The global electric motors market is spread across various regions such as Asia pacific, Latin America, North America, Middle East & Africa, and Europe. Among these, Asia pacific is leading the global market due to growing disposable income and rising industrialization in various countries such as Malaysia, Indonesia, India, and China. These countries are responsible for the growth of Asia Pacific electric motors market. Government providing incentive programs and stringent regulations on consumption of electricity for replacing lower efficient electric motors is driving the demand in this region.

Some of the key companies operating in the global electric motors market are Danaher, Baldor Electric Company, AMTEK, Asmo Co Ltd., and Regal Beloit. These companies are dominating the highly fragmented market of electric motors. There are numerous domestic and international players in the market offering different quality and price in the market thus, intensifying the competition.

 
The growing demand for energy conservation and energy efficient appliances is a major force that is fueling the global electric motors market. Increasing number of companies have been investing in this sector to benefit from the many advantages of electric motors. The report identifies and understands similar factors that influence the growth of the market for electric motors. It also determines forces that will hamper the growth and ways of minimizing the restraints. 
 
The report analyses the global electric motors market by segmenting it on the basis of parameters such as output power, application, type, and geography. Evaluating each segment and its contribution towards the electric motors market, the report provides estimations and statistics on the market scenario. The various trends and opportunities in different regional markets are discussed at length to support the growth of the electric motors market and improve market capitalization.
 
An in-depth section on the competitive landscape of the electric motors market provides key insights into the numerous industry leaders and stakeholders and their operations. Aspects such as company profile, financial overview, business strategy, SWOT analysis, and recent developments in the electric motors industry are covered using Porter’s five force analysis and value chain analysis.
 
Overview of the global electric motors market
 
The worldwide market for electric motors is expected to be worth an estimated US$120.68 billion by 2019, growing at a 6.3% CAGR during 2013-2019. Electric motors has a wide area of applications in numerous industries and functions such as motor vehicles, household appliances, industrial machinery, aerospace and other transportation equipment, HVAC equipments, and commercial industry. 
 
Countries across the globe have become increasingly aware about conserving energy, as a result of which, the demand for energy efficient electric motors has been on the rise. High and premium efficiency electric motors are being applied in various areas of operation and governments have become strict in implementing energy regulations. The usage of these optimum electric motors also reduces the financial burden on consumers and governments. Moreover, electric motors are used widely in the production of motor vehicles, heating ventilating and cooling equipment, and household appliances, leading to a rise in demand. Improving standard of living and increasing disposable income in developing countries is also expected to propel the electric motors market. 
 
On the other hand, fluctuations in the prices of raw material and high purchase price of energy efficient electric motors are expected to inhibit the growth of the global electric motors market.
 
Asia-Pacific is the fastest-growing and largest regional market for electric motors owing to improving economies and rising purchasing power in countries such as India, Malaysia, China, and Indonesia. Government initiatives and mounting electricity consumptions are expected to drive the North American and European electric motors market. 
 
Companies mentioned in the research report
 
The global electric motors market is highly fragmented and has many international and domestic players vying to carve a niche for themselves in this competitive market. Some of the leading players in the electric motors industry include Johnson Electric Holdings Ltd., Baldor Electric Company, Inc., Ametek, Inc., Danaher Motion LLC, Siemens AG, Brook Crompton UK Ltd., Allied Motion Technologies Inc., and Franklin Electric Co., Inc.
 
Major geographies analyzed under this research report are: 
  • Europe
  • North America 
  • Asia-Pacific 
  • Rest of the World 
This report gives you access to decisive data such as:
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 
Key highlights of this report
  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements 
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments
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