Press release
Global Electric Motor Market to Reach US$ 37 Billion by 2022
To get sample of the report: http://www.expertmarketresearch.com/request?type=report&id=17&flag=B
The global electric motor market has witnessed a healthy growth in recent years. According to a new report by Expert Market Research, the market reached a value of US$ 28 Billion in 2016 and is further expected to reach US$ 37 Billion by 2022. Keeping in mind the rising environmental concerns, governments across various nations have undertaken initiatives encouraging the use of electric vehicles. This has increased the demand for electric vehicles amongst consumers, which has ultimately added to the overall growth of the electric motor market. Moreover, owing to technological advancements, highly efficient electric motors have been introduced with longer operating life, low maintenance and energy consumption. On account of their distinct advantages, there has been a surge in their demand globally. Some of the other growth inducing factors include increasing electricity penetration, growth in end-use industries and rising urbanization and industrialization, particularly in emerging regions.
Read full report with TOC: http://www.expertmarketresearch.com/reports/electric-motors-market
Key findings from the report:
The different types of electric motors available include low voltage electric motors, medium voltage electric motors and high voltage electric motors. In 2016, low voltage electric motors accounted for the largest share of the total global electric motor consumption. They were followed by medium voltage electric motors and high voltage electric motors.
The major end-use sectors of electric motors include industrial, commercial, residential, agriculture and transport. In 2016, the industrial sector dominated the market with a share of more than a half of the total global consumption. It was followed by commercial sector, residential sector, transport sector, agriculture sector and others.
Region-wise, Asia-Pacific represented the largest market with a share of around 60% of the total consumption volumes in 2016. Other major markets are North America, Europe, Middle East and Africa and South America.
Being highly fragmented in nature, the global electric motor market is surrounded by a number of small and big players. Some of the top players include ABB, Siemens, TECO-Westinghouse, Shandong Huali, NIDEC, Regal Beloit, Hyundai Heavy Industries, Leroy Somer, WEG Inc. and others.
Expert Market Research has analysed the global electric motor market according to type, end-use, major regions and top players:
Market breakup by Type
Low Voltage Electric Motors
Medium Voltage Electric Motors
High Voltage Electric Motors
Market breakup by End-use
Industrial
Commercial
Residential
Agriculture
Transport
Others
Market breakup by Region
Asia-Pacific
North America
Europe
Middle East and Africa
South America
Top Players
ABB
Siemens
TECO-Westinghouse
Shandong Huali
NIDEC
Regal Beloit
Hyundai Heavy Industries
Leroy Somer
WEG Inc.
Others
Find more reports related to technology & media industry: http://www.expertmarketresearch.com/categories/technology-market-reports
Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.
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