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At 4.5% CAGR, Global Electric Motor Market by usage, application, functionality along with key market players during 2018 - 2025

02-17-2020 06:28 PM CET | Industry, Real Estate & Construction

Press release from: allied market research

At 4.5% CAGR, Global Electric Motor Market by usage,

The surge in demand for energy-efficient electric motors, demand from industrial & agricultural sectors, increase in awareness regarding electric & green vehicles among customers, and rise in HVAC applications have driven the growth in the global electric motor market. Standardization & regulatory policies in emerging markets and enhancements in design methods for lowering carbon emissions would create new opportunities in the market.

The global electric motor market size was valued at $96,967.9 million in 2017, and is projected to reach $136,496.1 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025.

In 2017, North America dominated the global market, in terms of revenue, accounting for about 34.3% share of the global market, followed by Asia-Pacific.

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The AC motor segment to maintain its dominant position by 2025

Based on motor type, the AC motor segment accounted for the highest market share, contributing more than two-thirds of the total share. This segment is expected to maintain its dominant position by 2025. A surge in the adoption of AC motors due to availability in all sizes and low cost of permanent magnets are factors that drive the market growth.

North America to dominate throughout the forecast period

Based on geography, North America accounted for more than one-third of the total share in 2018 and is expected to maintain its lead position during the forecast period. however, the Asia-Pacific region is expected to register the highest CAGR of 5.4% during the study period.

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Key market players

Leading market players discussed in the research include Siemens AG, Johnson Electric Holdings Limited, Baldor Electric Incorporation, Ametek Incorporation, Allied Motion Technologies Inc., Franklin Electric Cooperative Incorporation, Asmo Corporation Limited, ARC Systems Incorporation, Brook Crompton UK Limited, and Rockwell Automation Incorporation.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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