Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Electric Motors Market Research Report.
Electric Motors Market – Overview
The high-efficiency of electric motors is creating an accelerated growth in the market. Market reports associated with the energy and power industry have been made available by Market Research Future who publishes reports on other sectors that have been presently published along with a report on this industry. The market is expected to be buoyed with a 6.2% CAGR in the duration of the forecast period.
The high reliance of commercial, industrial, automotive, residential and agricultural sector on vastly effectual electric motors for smooth operational working is generating a productive market for electric motors. The rise in the level of utilization of electric motors caused by the quickly increasing agricultural activities globally is expected to boost the market considerably in the forecast period.
The segmentation of the electric motor market is carried out on the basis of motor type, voltage, output power, and end use. On the basis of motor type, the market is segmented into DC, AC, and Hermetic. The voltage-based segmentation of the market consists of 1 kV–6.6 kV, upto 1 kV and Above 6.6 kV. On the basis of Output Power, the market is divided into Above 1 hp and upto 1 hp. The end-use segmentation of the market consists of residential, commercial, agriculture, industrial and Transportation.
Detailed Regional Analysis
The regional analysis of the electric motors market is anticipated to observe impressive growth through the forecast period due to the significant development in the consumption of electric motors across end-use sectors at a widespread level in many regions. The development is principally accredited to the progress in the production of motor vehicles, Heating, Ventilating, and Cooling (HVAC) equipment, and other home appliances globally, which is likely to continue during the forecast years. The Asia Pacific region is accounted for the major share of the electric motors market in 2016. The monetary increase, large-scale industrialization & commercialization and development in the agricultural sector in the European and North American region has also created a huge demand for electrical devices, giving rise to growth in demand for electric motors across the region.
The growth patterns are modified in tandem with the customer preferences to achieve maximum growth, and in the long run, profitability. The enhancement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The essential success factors and players’ predilections are consistently growing by the strategies being used by market contenders. The situation for growth plans has stimulated the market for potential new entrants. The development of the market is based on the drivers that are radically altering the market backdrop.
The strategic competitors in the electric motors market are Siemens AG (Germany), ABB Ltd. (Switzerland), General Electric Company (U.S.), Denso Corporation (Japan), Nidec Corporation (Japan), Ametek, Inc. (U.S.), Allied Motion Technologies, Inc. (U.S.), Robert Bosch GmbH (Germany), Johnson Electric Holdings Limited (Hong Kong), Emerson Electric Co. (U.S.), Hitachi, Ltd. (Japan), WEG S.A. (Brazil), Rockwell Automation (U.S.), ARC Systems, Inc. (U.S.), and Toshiba International Corporation (U.S.) among others.
Jul 2018 Audi has formally commenced with serial production of electrical motors in Hungary. The production volume at the Győr factory is about 400 motors per day and is planned to be sequentially increased