Electric Motor Market to Witness Significant Demand from Various Industrial Verticals till 2028

Posted on 2019-10-17 by researchinsights in Electronics // 0 Comments

17^th Oct 2019 – Global Electric Motor Market is projected to witness a huge growth with a staggering CAGR of 6.38% in the forecast period. Electric motors are basically a type of electro-mechanical device that functions on the basis of electromagnetic induction. These devices are highly long-lasting and very efficient. Looking at its productivity, electric motors consumes minor energy and has high endurance that can fluctuate voltages. In addition to this, one of the major advantage of an electric motor is its low cost than the fossil-fuel engines.

Advancements in numerous technologies and a massive expansion in the industrial automation sector are the two major factors that are driving the growth of the market. Along with these, in large industrial plants, it is seen that gas turbines are being replaced with electric motors, which is one of the essential facet that is helping the electric motor market to grow.

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But the market is witnessing an issue due to the portability of electric motors especially in heavy appliances. Electric motors with complex electric circuits are facing problems, which is leading to replacement of faulty components. These reasons are restraining the electric motor market to grow presently. The government is initiating proactive actions such as diminishing pollution emitted from vehicles. With an objective to boost the sales of electric vehicles, the demand of electric motors is anticipated to increase and will help in reducing environmental pollution. This initiative will allow the market to grow tremendously in the near future.

Electric motor market is segmented on the basis of type (alternate current motor, direct current motor, hermetic motor), output power (integral horsepower, fractional horsepower), voltage range (9V & above, 10V-20V, 21V-60V, 60V & above), application (industrial machinery, motor vehicle, HVAC equipment, aerospace & transportation, household appliances), speed (low speed, medium speed, high speed, ultra-high speed) and region (North America, Europe, Asia Pacific, LAMEA).

Leading Players Analysis:

Nidec
Siemens
ABB
Denso
Hitachi
Regal Beloit
GE
Bosch
Emerson
Rockwell Automation
Toshiba
Franklin Electric
Johnson Electric
Broad-Ocean
Ametek
Allied Motion

Market split by Type, can be divided into:

AC Motor
DC Motor
Hermetic Motor

Market split by Application, can be divided into:

Industrial Machinery
Automotive
HVAC Equipment
Aerospace & Marine
Household Appliances

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Market segment by Region/Country including:

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America Brazil, Argentina, Colombia and Chile etc.)
Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

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