Electric Motors Market: EMERGING TRENDS, SIZE, SHARE AND GROWTH ANALYSIS- 2020

Electric Motors Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $129 billion by 2020, registering a CAGR of 5.0% during the period 2014-2020. The thriving market conditions can be attributed to the emergence of low power consuming premium motors and customizable application-specific designs.

Access full summary at: https://www.alliedmarketresearch.com/electric-motor-market

After the success of standard electric motors, premium efficiency electric motors are driving the electric motors market as a whole. The rapid prototyping process of manufacturing energy efficient electric motors adopted by leading manufacturers would propel the growth of electric motors. Although expensive than conventional motors, the long term environmental benefits offered by the premium motors tend to outweigh the initial premium cost and increase the efficiency of the application by approximately 20% as compared to standard motors, which in-turn saves the cost of energy consumed. The demand for energy efficient electric motors can be attributed to factors such as growing consumption of electricity, rising automobiles production, home appliances and the electric motor driven systems. Moreover, the recent electric motor manufacturing standards i.e. the use of improved design, materials, and the manufacturing techniques that enable energy efficient motors to consume less electricity are encouraging the global motors manufacturers to develop energy efficient motors.

The favorable initiatives by the governments of various regions are encouraging the growth of electric motors in electric vehicles (green vehicles) in order to safeguard the environment by controlling fuel emission. The analysis shows that AC motors are the widely used motor types amongst others. 70% of the applications use AC motors; whereas, hermetic motors are only used in heating, ventilating, air-conditioning and refrigerating applications.

Asia Pacificis the global leader in electric motor market chiefly due to higher consumption of end-use products and low labor cost. Nevertheless,Latin America,Middle East&Africa(LAMEA) are the most opportunistic regions for the development of electric motors afterAsia-Pacificregion. Various launches such as new electric plug-in and hybrid cars, awareness drives to support green vehicles and rising need for premium efficiency appliances are the key reasons for the development of the aforementioned regions. These trends suggest that the international as well as local electric motor manufacturing companies are focusing on the launch of different types of motors in the LAMEA region. The TECO Electric and Machinery Co. Ltd., Of Taiwan have ventured with Al-Quraishi Electrical Services ofSaudi Arabia(AQESA) and together launched the first high and medium voltage electric motors inMiddle Eastregion in the year 2012.Therefore, top market players are looking forward to capitalize on the prevailing opportunities in these countries.

Mergers and Acquisitions among the top players and the local players would further accelerate the growth and improve the services to the customers. Allied Motion Technologies Incorporation has recently acquired Globe Motors, a precision quality grade electric motor design and manufacturer, for a whopping$90 million. This acquisition helped the company to provide innovative products and customized solutions to the end-users. The key companies profiled in the report are Ametek, Incorporation, Siemens AG, Baldor Electric Incorporation Allied Motion Technologies, ARC Systems Incorporation, Asmo Corporation Limited, Brook Crompton UK Limited, Franklin Electric Cooperative Incorporation, Rockwell Automation Incorporation and Johnson Electric Holdings Limited.

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Allied Market Research is a global market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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