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Advance Electric Motors Market Volume Analysis, Segments, Value Share and Key Trends By 2027
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The global electric motors market is estimated to be driven by increasing automation and robotics in the manufacturing sector, increasing electric vehicle sales and rising demand from HVAC and household applications. Healthy growth of end use sectors will also be a prime factor supplementing market growth. Industries across prominent regions such as Western Europe and North America and some countries in the Asia Pacific region are anticipated to witness high demand for energy efficient motors, i.e. above the IE2 efficiency level. At a product level, cost effectiveness offered by brushless DC motors due to their limited maintenance, increased efficiency, low operating cost and higher reliability will supplement growth of the DC motor segment. Product development is expected to remain a major focus for leading players in the market, while customisation will emerge as a major trend in the global market.
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On the basis of region, APEJ is projected to dominate the global market both in terms of value and volume. A favourable macro-economic environment in the region supports the growth of end use industries, which in turn supplements revenue growth of the electric motors market.
Global Electric Motors Market: Competitive Landscape
The global market for electric motors is highly fragmented with a large number of regional and international players. Some of the players reported in this study on the global electric motors market are ABB Group, Johnson Electric, Nidec Corporation, General Electric, Toshiba Corporation, Allied Motion Technologies Inc., Regal Beloit Corporation, Hyundai Electric & Energy Systems Co. Ltd., Hyosung Corporation, Siemens AG, Emerson Electric Company, Schneider Electric SE, Hitachi Ltd., Robert Bosch GmbH, Kirloskar Electric Company Ltd., WEG S.A., Bonfiglioli Riduttori S.p.A., Arc Systems Inc. and East West Manufacturing, LLC.
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