Press release
Electric Motor Market Competitive Insights and Precise Outlook 2019-2025
The global electric motor market is expected to grow at a CAGR of 5.9% with its market size attaining a value of USD 145.3 billion by 2024. Electric motors are electro-automated procedures that perform operations on the basis of electromagnetic induction since they are extensively efficient and durable. Furthermore, these devices entail low maintenance, have high resolution for shifting voltages. The growth of electric motor market is attributed towards low cost of electric motors as compared to that of fossil-fuel engine as a result of which these systems are witnessing greater utilization in varied industry domains such as oil & gas and automotive domain.Get Sample of this Report
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Top Companies in the Global Electric Motor Market: Nidec, Siemens, ABB, Denso, Hitachi, Regal Beloit, GE, Bosch, Emerson, Rockwell Automation, Toshiba, Franklin Electric, Johnson Electric, Broad-Ocean, Ametek, Allied Motion Others
Market Segmentation by Types:
AC Motor
DC Motor
Hermetic Motor
Market Segmentation by Applications:
Industrial Machinery
Motor Vehicle
HVAC Equipment
Aerospace & Transportation
Household Appliances
Others Top of Form
Research Methodology:
Geographically, electric motor market in Asia-Pacific is the largest electric motor market. The key factor behind the largest share of the region is extensive acceptance of these systems in both passengers and commercial car segment in this region, accentuating growth in the construction and manufacturing domain in various developing countries of this region.
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Market Dynamics:
Increasing compliance for energy efficient electric motors are the key driving factors pertaining towards the growth of electric motor market across the globe. Electric vehicles help in reducing the contamination in air and helps in stabilizing the problem related to crude oil prices. Moreover, apart from involving high initial set up cost the electric vehicles enables reduced working cost for the users that is further strengthening its demand worldwide. Additionally, several countries are embedding their focus upon long haul scenario and cost savings benefit.
Moreover, increasing demand for commercial and residential sector is another factor that is driving the growth of global electric motor market. The ever increasing population of developing countries and increasing disposable income of citizens has exaggerated the construction of various business structures, malls, private buildings, plants and industrial facilities. Furthermore, with wide variety uses and application of these system electric motor market is growing at exponential rate across the globe.
Key Highlights of Global Electric Motor Market Analysis:
The report provides a detailed analysis of current and future market trends to identify the investment opportunities market forecasts till 2025.
Key Electric Motor market trends across the business segments, regions and countries
Key developments and strategies observed in the market
In-depth company profiles of key players and upcoming prominent players
Key market dynamics such as drivers, restraints, opportunities and other trends
Market opportunities and recommendations for new investments
Moreover, this report has all the informative necessary details like the economic techniques, product provide and demand, applications, future forecast, and growth and development factors mentioned. The geographical and Electric Motor industrial dominance is predicted to assist the market carve out a reputation for itself on a world scale. This report points mainly top-down approach to focus key dimensions of the market CAGR, top players, cost organization, manufacturing ability, and commercial analysis.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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