Electric Motors Market 2018 – 2026 | Global Industry Players: Emerson Electric Co., Rockwell Automation Inc., Ametek Inc., Siemens AG, Denso Corporation, Bosch Group, Baldor Electric Co., ABB Ltd. and Hitachi Ltd.
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The diverse applications of electric motors in majority of industries such as healthcare, construction, packaging, automotive, and consumer goods among others are expected to support the growth of this market. Other driving factors include rising demand for electric motor in household appliances, growing use in HVAC applications, and government support for development of high efficiency electric motors are propelling the Electric Motors Market growth. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
The growing adoption of electric vehicles is expected to support growth of Electric Motors Market. The increasing requirement to reduce vehicle emissions and global carbon footprint drives the demand for electric vehicles. Use of electric vehicles offer benefits such as low maintenance costs, reduced harmful vehicle emissions, while providing comparable power. Electric vehicles are increasingly being used to restrict the emission of carbon, nitrogen, and other harmful compounds from gasoline and diesel vehicles. This is one of the largest ancillary industry which is pushing the demand for electric motors globally.
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The well-known companies profiled in Electric Motors Market report include: -
Emerson Electric Co.
Rockwell Automation Inc.
Baldor Electric Co.
General Electric Company
Allied Motion Technologies Inc.
Regal Beloit Corporation
These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
The different types of Electric Motors include AC motors, DC motors, and hermetic motors. In 2017, the AC motor segment accounted for the highest market share owing to the increasing demand for AC motors from industries such as agriculture, paper & pulp, and chemicals. They are majorly used in industrial applications and machine tools. Some key features offered by AC motors include controlled acceleration, low power demand on start, adjustable operational speed, adjustable torque limit, and reduced power line disturbances among others.
Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the Electric Motors Market throughout the forecast period. The presence of emerging industries such as healthcare, agriculture, construction, and automotive, substantial initiatives in research and development, and favorable government policies drive the market growth. Rapid industrialization and growth of manufacturing industry further support market growth in the region.
TOC of Electric Motors Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Electric Motors Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
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