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Asia-Pacific (APAC) Electric Motor Market 2018-2023 Trends, Opportunities and Key Players - Emerson, Toshiba Corporation, Wolong Electric Group Co., Ltd., Siemens, Johnson Electric, DENSO, ABB, Mitsubishi Electric, AMETEK and Robert Bosch GmbH
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The demand for electric vehicles has shown an explosive growth in the recent years with electric motors being one of the major components in these vehicles. The production of electric cars in APAC has witnessed CAGR of 90% during 2013-2017. One third of deaths globally occur in Asia-Pacific due to air pollution. To curb this, governments in Asia-Pacific region introduced various sales targets for electric vehicle sales and subsidies to support higher adoption of electric vehicles.
India is expected to be the fastest growing electric motor market in APAC, during the forecast period, owing to growing manufacturing and construction industry in the country. Demand for plug-in electric vehicles in APAC is also expected to record CAGR of over 38%, during the forecast period, wherein China is expected to offer the most lucrative market potential.
The competition in electric motor market in APAC is medium to high with key players including Emerson Electric Co., Toshiba Corporation, Wolong Holding Group Co. Ltd., Siemens AG, Johnson Electric Holdings Limited, DENSO Corporation, ABB Ltd., Mitsubishi Electric Corporation, Ametek Inc. and Robert Bosch GmbH.
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APAC Electric Motor Market Segmentation -
Market Segmentation by Motor Type
• AC Motor
o Synchronous Motor
o Induction Motor
• DC Motor
o Brushless DC (BLDC) Motor
o Brushed DC Motor
• Hermetic Motor
Market Segmentation by Output Power
• Fractional Horsepower (FHP)
• Integral Horsepower (IHP)
Market Segmentation by Application
• Motor Vehicles
• Industrial Machinery
• HVAC Equipment
• Transportation and Aerospace
• Household
• Others (agriculture, electronic gadgets like mobile phones, personal computers and other commercial applications)
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