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