Electric Motor Market Revenue Driving Factors, Growth Rate Analysis and Forecast

The global electric motor market research report offers an in-depth analysis of industry size, share, application, current trends, and revenue drivers. This syndicated research report also provides a regional overview, product insights, and offers ready, data-driven answers to many industry-level questions. This research report enables numerous opportunities for industry players to invest in research and development.

Market Overview:

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. 

Key Players:

• Nidec
• Siemens
• ABB
• Denso
• Hitachi
• Regal Beloit
• GE 

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Growth Drivers: 

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.

Market Segment: 

Key Type:

• AC Motor
• DC Motor
• Hermetic Motor 

Key Applications

• Industrial Machinery
• Automotive
• HVAC Equipment
• Aerospace & Marine
• Household Appliances 

Key Regions

• 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.)

Regional Insights: 

The market is spread along various regions such as North America, Europe, Asia Pacific and LAMEA. Among these, Asia Pacific is currently leading the electric motor industry as there is a rise in the industrialization and growth in the disposable income in numerous countries of the Asia Pacific region.

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