Press release
Electric Motor Market Key Driven Factors, Segmentation And Forecast To 2025 | Players Emerson Electric, Maxon Motors AG, ABB Group
A 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. On the other hand, high investment costs of motors hinder the growth. However, 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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Growth Factor:
Electric motors are widely used in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, disk drives, power tools, electric cars, and automated robots. These high-efficiency motors gain importance over standard motors due to longer operating life, low energy consumption, low maintenance, high endurance for fluctuating voltages, and others.
Siemens AG holds a large share of the global electric motor market, with 290 major production and manufacturing plants, and technological advancements in different sectors, including industry, healthcare, energy, and infrastructure. ABB Group generates the second highest revenue in the market.
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Leading Players:
The major players operating in the electric motor industry include ABB Group, ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Dr. Fritz Faulhaber GmbH, Emerson Electric, Maxon Motors AG, Regal Beloit Corporation, Rockwell Automation, Inc., and Siemens AG.
Key Findings Of The Study
In 2017, the AC motor segment dominated the global electric motor market in terms of revenue, and is projected to grow at a CAGR of 4.5% during the forecast period.
The FHP output segment is expected to be the largest customers for the electric motor market players globally.
North America is projected as one of the most dominant regions in the electric motor market and is expected to witness a high growth rate of around 3.8% during the forecast period.
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