Growing Demand for HVAC Systems Drives the Electric DC Motor Market

Based on Triton's report, the global electric DC motor market is anticipated to register a CAGR of 8.86% during the forecast period 2022-2028.

A recent study by Triton Market Research titled Global Electric DC Motor Market includes the Global Analysis and Forecasts by Application (HVAC Equipment, Industrial Machinery, Aerospace and Defense, Household Appliance, Automotive and Transportation, Other Applications), Type (Brushless, Brushed), Speed (Less Than 500 RPM, 501-2000 RPM, 2001-10,000 RPM, More Than 10,000 RPM), Power Output (0-750 W, 750 W-3 KW, 3KW-75 KW, Above 75 KW), and Regional Outlook (Middle East and Africa, Asia-Pacific, North America, Latin America, Europe).

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Electric DC motors take electrical power through direct current and convert this energy into mechanical energy. They are utilized in various applications, such as HVAC Equipment, industrial machinery, aerospace and defense, and household appliance.

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Triton's research report indicates that the global electric DC motor market is set to progress at a CAGR of 8.86% during the forecasting period 2022-2028.

According to data from the US Department of Energy, demand for heating, ventilation, and air conditioning (HVAC) systems increased by 10% in 2020 over 2019. They are a crucial aspect of modern infrastructure, especially in large office buildings and retail malls. Electric DC motors are widely used to extend the lifespan, power, and airflow efficiency of HVAC systems. HVAC systems are in high demand as a result of rising investment in residential and commercial construction in nations like China and India. Thus, it is anticipated that the market for electric DC motors will expand due to the previously mentioned factors.

In contrast, the market for electric DC motors is extremely fragmented due to the abundance of regional and international companies. While the unorganized market offers inexpensive ways to access local markets, the regulated market largely serves industrial purchasers and upholds rigorous standards for product quality. Local electric DC motor manufacturers compete with international suppliers and target the unorganized market. Because of this, unorganized market entrants that provide cheap, low-quality electric DC motors compete fiercely with the industry leaders, which in turn limits the market's ability to grow.

The electric DC motor market is divided into application, speed, and power output. Based on application, the market is segmented into HVAC Equipment, industrial machinery, aerospace and defense, household appliance, automotive and transportation, and other applications. The type segment is bifurcated into brushless and brushed. Based on speed, it is branched into less than 500 RPM, 501-2000 RPM, 2001-10,000 RPM, and more than 10,000 RPM. And lastly, the power output is segmented into 0-750 W, 750 W-3 KW, 3KW-75 KW, and above 75 KW.

The Asia-Pacific leads the electric DC motor market globally. The region's stronghold is due to increased automotive production in countries such as China and India. China, the world's largest production hub, has numerous automotive, industrial equipment, and home appliances manufacturers. These sectors contribute significantly to China's exports. The expansion in these sectors propels manufacturing plants' capacity, thus contributing to the electric DC motors market's development.

ABB, Maxon Motors AG, Oriental Motor Co Ltd, Robert Bosch GmbH, Yaskawa Electric Corporation, Ametek, Johnson Electric Holdings Ltd, Nidec Corporation, Rockwell Automation, Siemens AG, MinebeaMitsumi Inc, Regal Beloit Corporation, Teco Electric & Machinery Co Ltd, Arc Systems Inc, and Allied Motion Technologies Inc are some established companies in the electric DC motor market.

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Question & Answer: Global Electric DC Motor Market

Question 1: What factors drive the electric DC motor market's growth?
Answer: According to the US Department of Energy, the demand for heating, ventilation, and air conditioning (HVAC) systems in 2020 was 10% higher than in 2019. They are a crucial aspect of modern infrastructure, especially in large office buildings and commercial malls. Electric DC motors are often used in HVAC systems to extend their life, power, and airflow efficiency. Countries such as China and India have witnessed an increase in investment in residential and commercial constructions over the years, resulting in high demand for HVAC systems. Thus, the aforementioned factors are anticipated to drive the electric DC motor market's growth.

Question 2: What factors restrain the growth of the global electric DC motor market?
Answer: With the presence of many local and global players, the electric DC motors market is highly fragmented. The regulated market primarily caters to industrial buyers and maintains high product quality, whereas the unorganized market provides low-cost options for tapping the local markets. Local producers of electric DC motors target the unorganized sector and compete with global suppliers. Thus, the leading companies in the market are facing fierce competition from unorganized market entrants selling low-cost and low-quality electric DC motors, which, in turn, restrains the growth of the electric DC motor market.

Question 3: Which region leads the electric DC motor market?
Answer: The Asia-Pacific leads the electric DC motor market globally. The region's stronghold is due to increased automotive production in countries such as China and India. China, the world's largest production hub, has numerous automotive, industrial equipment, and home appliances manufacturers. These sectors contribute significantly to China's exports. The expansion in these sectors propels manufacturing plants' capacity, thus contributing to the electric DC motors market's development.

Question 4: Which are the established firms in the global electric DC motor market?
Answer: ABB, Maxon Motors AG, Oriental Motor Co Ltd, Robert Bosch GmbH, Yaskawa Electric Corporation, Ametek, Johnson Electric Holdings Ltd, Nidec Corporation, Rockwell Automation, Siemens AG, MinebeaMitsumi Inc, Regal Beloit Corporation, Teco Electric & Machinery Co Ltd, Arc Systems Inc, and Allied Motion Technologies Inc are some established companies in the electric DC motor market.

Related Report:

Global Induction Motors Market-
https://www.tritonmarketresearch.com/reports/induction-motors-market

The global induction motors market is estimated to grow at a CAGR of 3.72% during the forecast period of 2019-2028.

Rapid urbanization has caused air pollution in major cities across the world, leading to huge investments by the automobile industry to comply with stringent environmental regulations. This is expected to increase the sale of electric vehicles exponentially to reduce carbon emissions, which boosts the demand for induction motors.

Additionally, the introduction of copper rotor induction motors is anticipated to increase the adoption of induction motors. The development of mass production techniques for copper rotor die-casting has led these motors to become energy-efficient and meet the IE5 efficiency levels. Thus, the abovementioned factors are anticipated to drive the market for induction motors throughout the forecast period.

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This release was published on openPR.