Europe Electric Motor Market Size, Share and Statistics with Analysis of Prominent Corporations Ametek Inc., Siemens AG, Baldor Electric, ARC Systems Inc., Asmo Co. Lt d

The global market is expected to garner $22.32 billion by 2022, registering a CAGR of 3.7% during the period 2016-2022. Germany accounted for the highest share in 2014, followed by France. Growing adoption of electric motors in various applications including industrial machinery, motor vehicles, heating ventilating and cooling (HVAC) equipment, aerospace & transportation, household appliances accelerate the growth of this market.

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By type, the European electric motor market is segmented into alternative current (AC) motors, direct current (DC) motors, and hermetic motors. The AC motor segment dominated the market with around 70% share in 2014 and is expected to continue its dominance during the forecast period. This segment is further sub-segmented into synchronous AC motors and induction motors.

Europe has been one of the prominent regions in the adoption of electric vehicles, led by high environmental awareness among the consumers and the supportive government legislation. The growing demand of electric cars in the region has, in turn, created growth opportunities for key players offering electric motors as these cars are equipped with electric motors. Prominent players offering electric cars are focused towards introducing advanced and affordable electric cars in Europe in the near future. For instance, in early 2016, General Motors, a global automotive company, announced a plan to launch electric cars, namely, the Opel Ampera-e in Europe by 2017.

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Dominating Market Players Profiled in the Report

•Ametek Inc.
•Siemens AG
•Baldor Electric
•Allied Motion Technologies Inc.
•ARC Systems Inc.
•Asmo Co. Ltd
•Brook Crompton UK Limited
•Franklin Electric Co. Inc.
•Rockwell Automation Inc.
•Johnson Electric Holdings Ltd.

These players consistently launch new products to enhance their existing portfolios and expand their customer base. In addition, strategic alliances and mergers & acquisitions provide growth opportunities for geographical expansion and a wider market reach.

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