Electric Motors Market 2019-2023 Research Report by Prominent Players like Nidec Corporation, Denso Corporation, Allied Motion Technologies, Ametek, Robert Bosch GmbH, Emerson Electric Co., Hitachi, Rockwell Automation

The global demand for electric motors market is expected to grow at a CAGR of 6.2%, accelerating over the forecast period of 2017-2023. Electric motors are key components in various durable goods, HVAC applications, compressors, machine tools, electric cars, power tools, and automated robots. They are used in diverse industrial processes. The shift towards highly efficient, extended operating life, low energy consumption, low maintenance, and high endurance for fluctuating voltage motors have been the prime drive behind the growth of the global electric motors market. Contrary to traditional motors, electric motors negate the mechanical commutator used in their traditional counterparts. The application of electric motors has been increasing at a rapid pace across diverse industry verticals for automotive, residential and agricultural purposes. Electric motors are being progressively used in hybrid/electric vehicles and the rise in automotive production generates considerable demand for electric motors market.

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Other factors contributing to the growth of the market are an expansion of the durable goods manufacturing along with increasing affordability of consumers to spend on consumer durables, household appliances, and automobiles are expected to fuel the growth of the market over the forecast period. However, despite the popularity of electric motors and relative maturity of the electric motor technology, the adoption and knowledge level of electric motors is still low among end users who might constrain the growth of the market.

Competitive Landscape:

Ametek, Inc. (U.S.), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), Nidec Corporation (Japan), Allied Motion Technologies, Inc. (U.S.), General Electric Company (U.S.), Denso Corporation (Japan), Toshiba International Corporation (U.S.), Emerson Electric Co. (U.S.), WEG S.A. (Brazil), Rockwell Automation (U.S.), Siemens AG (Germany), Hitachi, Ltd. (Japan), Johnson Electric Holdings Limited (Hong Kong), and ARC Systems, Inc. (U.S.)

Industry Updates:

In January 2019, Panasonic, a global supplier of automotive battery entered the US e-bike market with its own electric motors and batteries.

Electric Motors Market Segments Analysis:

Global electric motors market has been segmented based on type, voltage, output power, end-use and region.

Based on type the market is segmented into AC motor, DC motor and Hermetic motor. Among these AC motors, is projected to dominate the global electric motors market through 2023. The dominant position of this segment can be attributed to its wide application in all end-use sector.

Based on voltage the market is segmented into Up to 1 kV, 1 kV–6.6 kV and Above 6.6 kV. Up to 1 kV dominated the market in 2016 and is projected to be the fastest-growing operation segment for electric motors. Up to 1 kV motors are extensively used for small-scale application in all end-use applications, they are cost-effective and largely manufactured by local and prominent players.

Based on the output power, the market is segmented into Up to 1 hp and Above 1 hp. Up to 1 hp dominated the market in 2016 and is projected to be the fastest-growing output power over the next five years. Up to 1 hp electric motors are extensively used in numerous home appliances and other small electrical equipment, the low output power range makes them ideal for all small-scale electrical applications.

Based on end-use, the market is segmented into industrial, commercial, residential, agriculture and transportation. Residential sector dominated the market in 2016 and is projected to be the fastest-growing end-use over the next five years. The rapid urbanization, growing population and rise in standard of living leading to affordability of high-end home appliances, gadgets and electronics has led residential sector boom in the electric motor market.

Electric Motors Regional Market Analysis:

By region, the global electric motors market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

APAC is the leading market for electric motors. The growth of the market can be attributed to the economic upsurge in the region, advancement in the agricultural sector, expansion of the electrical appliances industry in the region.

Diversification of the agricultural industry in both North America and Europe has opened up avenues for the growth of the electric motors market in these regions. Growth in the industrial, commercial, residential, and automotive sector in these regions reflect positively on the growth of the electric motors market.

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List of Tables

Table 1 Global Electric Motors Market: By Region, 2017-2023
Table 2 North America Electric Motors Market: By Country, 2017-2023
Table 3 Europe Electric Motors Market: By Country, 2017-2023
Table 4 Asia Pacific Electric Motors Market: By Country, 2017-2023
Table 5 Row Electric Motors Market: By Country, 2017-2023
Table 6 Global Electric Motors Market, By Type, By Regions, 2017-2023
Table 7 North America Electric Motors Market, By Type, By Country, 2017-2023
Table 8 Europe Electric Motors Market, By Voltage, By Country, 2017-2023
Table 9 Asia Pacific Electric Motors Market By Type, By Country, 2017-2023
Table 10 Row Electric Motors Market By Type, By Country, 2017-2023
Continued……

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