Published: Jun, 2018

The global electric motors market is fragmented international players. Players within the market are competing with each other on the basis of quality as well as reduced price. Players are also improving the standard of products so as to have a competitive edge above all others, as per Transparency Market Research (TMR). Consumers are benefiting from high bargaining power. Product differentiation and standardization is difficult to achieve in the global electric motor market, observes TMR. The key players within the global electric motors market include Baldor Electric Company, Regal Beloit, AMTEK, Asmo Co Ltd, and Danaher. 

According to TMR, the global electric motor market will be worth US$120.68 bn by 2019. On the basis of geography, it is expecting that Asia Pacific is the leading regional market as well as the fastest growing regional segment for electric motors, thanks to the supreme industrial growth witnessed in India and China. Rapid industrialization in countries such as Thailand, Indonesia, and Malaysia are also contributing significantly to the growth of electric motors market in Asia Pacific.

Integral Horsepower Motors to Witness Strong Growth

On the basis of output power capacity, the global electric motors Market is segmented into fractional horsepower and integral horsepower motors. Of these, fractional horsepower segment lead in the market. However it is estimated that the integral horsepower motors will witness a rapid growth in terms of CAGR in the years to come. The main reason behind the high demand for integral horsepower motors is stringent electricity consumption rules. The growing importance of Energy Efficiency will create a heightened demand for energy-efficient electric motors within industrial sectors.

High Demand for Electric Motors in HVAC Equipment Fuelling Growth of Market

On the basis of application, the global market for electric motors is segmented into industrial Machinery, Motor Vehicles, Aerospace, transportation equipment, HVAC equipment, and household appliances. Of these, it has been found that the demand for electric motors is highest from the motor vehicle segment. of late, the tremendous increase in the interest in electric vehicles by many countries in the world is driving the demand for electric motors extensively from the automotive industry. Some of the countries which are at the forefront of the electric vehicle adoption trend include Germany, China, United States, Japan, and India.

High demand is also expected for electric motors from the HVAC industry. Other application areas which are expected to generate the healthy demand for electric motors include household appliances sector and Industrial Machinery sector. On the basis of type of motor, it is expected that the demand for AC Motors is high. The market for hermetic motors segment is also expected to have a bright future.

Rising Demand from Commercial, Industrial, and Residential Sectors to Drive Market for Electric Motors

According to the report, electric motors market will witness steady rise on account of the use of these motors across industrial, commercial and residential sectors. Electric motors are required for fans, elevators, compressors, refrigerators, and several other systems which are utilized in the residential, commercial, and Industrial sector. The growing demand for reducing greenhouse gas emissions is anticipated to accelerate the demand for electric motors. These motors form an integral part of heating ventilating and cooling equipment common household appliances, and motor vehicles. The report states that there are factors such as improving standard of living as well as growing income level which are pushing the demand for motor vehicles and electronic appliances, which in turn is behind the growth of the global electric. Moreover it is expected that the market will witness much growth on account of the high demand for replacement of electric motors.

This review is based TMR’s report titled, “Electric Motors Market (AC motors, DC motors, Hermetic motors) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019.

Key segments of the electric motors market:

Global Electric Motor Market, by Output power

  • Fractional horsepower (FHP) electric motors
  • Integral horsepower (IHP) motors

Global Electric Motor Market, by Type

  • AC motors
  • DC motors
  • Hermetic motors

Global Electric Motor Market, by Applications

  • Motor vehicles
  • Heating ventilating and cooling equipment
  • Industrial machinery
  • Household appliances
  • Aerospace and other transportation equipment
  • Commercial and other industry

Global Electric Motor Market, by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

About Us:

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com 
Website: https://www.transparencymarketresearch.com 

.