Press release
Electric Motors Market to surpass 2 Billion units by 2024
As per the estimates, North America is expected to generate a demand of over 378 million units over the coming seven years and attain a CAGR of 7.5% over 2017-2024. Moreover, in the coming seven years Asia Pacific is also anticipated to be one of the strong emerging grounds for electric motors market expansion. Growing automobile production facilities and favorable government initiatives are expected to be the prime drivers fueling regional electric motors market, which as per reports, is estimated to surpass USD 20 billion by 2024.
Request For Sample Of This Report @ https://www.fractovia.org/request-sample/708
The latest buzz created by the electric and connected cars have taken the global electric motors market to brew a fresh storm in the worldwide automotive & transportation sector. With the sprawling concept of running electric cars on road, it wouldn’t be incorrect to say that electric motors are generating a rather substantial momentum in the transportation industry. Automotive biggies such as Volvo and Volkswagen’s pledging to go all electric and pivot away from the conventional petrol and diesel cars, have undoubtedly, elicited electric motors industry players to roll up their sleeves and enhance their production capabilities. As estimated by Global Market Insights, Inc., the overall electric motors market is likely to witness a demand surpassing 2 billion units by 2024. As electrification is paving the way for a new wave in the automotive history, analysts predict, electric motors market players to significantly place advanced and innovative electric motor models at the core of its business.
The rising demand for electric vehicles across the globe have bestowed plethora of M&As, joint ventures, and R&D activities in the industry. Citing some noteworthy instances, in 2011, Bosch and Daimler collaborated as equals to establish a new venture EM-motive GMBH, that would enhance its production capabilities to manufacture electric motors. Reportedly, now the joint venture is a prime distributor of electric motors to OEMs manufacturing e-vehicles and also for the automotive aftermarket. Statistics claim the joint entity to manufacture more that 1 million electric motors by 2020, which not to mention, will have a remarkable impact on electric motors industry share. WEG’s acquisition of Katt Hessen GmbH, is another example bearing testimony to the growing M&A strategies that has helped the company to strengthen its position in progressing electric motors industry.
Given the significant role these electromechanical devices play during the conversion of electric energy into mechanical energy, electric motors industry players are distinctly emphasizing on developing products compatibility with microcontroller and microprocessors that are used in the steering, throttle, and braking technologies. Shifting focus toward achieving better stability and working, is further expected to leave a rendering impact on electric motors industry. Industry experts further anticipate DC motors to catapult remarkable proceeds, given the high usage of these motors in chassis and powertrain applications. The fact that the electric car models are significantly turning the prominent mechanical systems including engine cooling systems, power steering, and transmission actuation into electric drives will generate magnificent demand for electric motors market in the ensuing years. As per research, electric motors industry, from the small DC motors used in the automotive sectors, is likely to capitalize highest revenue share exceeding USD 26 billion by 2024.
Make an inquiry before buying this report @ https://www.fractovia.org/request-purchase/708
Analysts deem the stringent regulations toward curbing CO2 emissions to be a pivotal factor influencing the electric car makers to phase out conventional IC engines and embrace electrification. Reports claim that the emission generated by electric vehicles is less than half the CO2 released by fossil fuel vehicles of same weight and performance standards. One of the boldest commitment toward bringing forth zero-emission versions of vehicles has been taken by Volvo Cars. Reportedly, the company will go 100% electric from 2019. Volkswagen was another major in the electric motors industry, who plans to attain a sales target of 2 to 3 million electric cars by 2025. The company is offering around 80 new electric vehicles spanning all its sub-brands and groups which include Audi, Bugatti, Bentley and the home brand. Experts further predict the attractive governmental and promotional activities focusing on decarbonizing transportation to accelerate the adoption rate of these vehicles. For instance, the Indian government initiative to mandate vehicle electrification by 2030 is further compelling the automobile OEMs to gear up for the same. Estimates claim electric motors market from OEM to account for more than 80% of revenue share by 2024.
Characterized by vast regional expansion, growth in the application spectrum, presence of strong regulatory landscape, and an extensive competitive hierarchy, electric motors market, as per Global Market Insights, Inc., will exceed USD 36 billion by 2024.
Electric Motors Market Size By Motor (Traction Motors, Small DC motors For automotive, Small DC motors For Consumer Goods & Industrial Applications), By End Use (OEM, Aftermarket) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, Poland, Spain, China, Japan, India, South Korea, Australia, Vietnam, Brazil, Mexico, Columbia, Argentina, KSA, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
https://www.fractovia.org/news/industry-research-report/electric-motors-market
Fractovia.org is one of India's leading in-house and free news portal. It is fully automated, and operates on a constant premise, interfacing with news sites and offering redesigned breaking features to readers across the globe. Our mission is to offer individuals opportunities for connections with news writers and distributors which they can pursue. We operate by mapping articles pertaining to breaking news, constantly and progressively, against a pre-determined word-based theme, offering important connections to readers and clients, as well as distributers.
29L Atlantic Avenue, Suite L 105,
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Motors Market to surpass 2 Billion units by 2024 here
News-ID: 980202 • Views: …
More Releases from fractovia.org
Non-alcoholic Beer Market Key Players are Heineken, Suntory, Bernard Family Brew …
Owing to a worldwide escalation in the preference for low liquor content beverages, the non-alcoholic beer market size has proliferated at an outstanding pace over the past decade. This has been complemented with the fact that the disposable incomes among the global middle-class population have shot up which has further provided a commendable boost to the overall non-alcoholic beer industry. The rising consolidation and maturation of this business space can…
Food Protein Ingredients Market key players are ADM, Cargill, DuPont, Bunge, Mea …
Food protein ingredients market has lately witnessed a profitable trajectory, pertaining to the changing relationship of consumers with food due to increasing urbanization and greater disposable incomes. Taking the rapidly increasing global populace into consideration, which incidentally according to the UN, will surpass 9.5 billion, it is rather obvious that consumption patterns will undergo an eventual change. With the changes that will follow in the dietary preferences, experts anticipate food…
Food Enzymes Market Trends 2018 with Key Players of this Industry are BASF, DSM, …
Danish food enzymes market major Chr. Hansen, has recently announced that it will be expanding its West Allis plant that produces enzymes that are freeze-dried and shipped all over the world. The enzymes go into yogurt, cheese, and other food, as well as in animal feed, baby formula, probiotic supplements, and natural dyes. Allegedly, this latest expansion by Hansen to increase the production capacity and add new capabilities to its…
Dental Osseointegration Implants Market Major Key Players are Zimmer Biomet, Str …
Having already experienced monetary returns from a slew of imperative collaborations since the last few years, osseointegration implants market has now observed yet another partnership that would help increase its overall remuneration. The reputed American producer of dental equipment consumables, Dentsply Sirona has recently announced a partnership with Zephyr Sleep Technologies.
Request for a sample of this research report @ https://www.fractovia.org/request-sample/642
This alliance has been apparently aimed at generating potentially new…
More Releases for Motor
SUV Market 2021 Precise Outlook- Honda Motor, Toyota Motor, Nissan Motor, Ford M …
The report presents an in-depth assessment of the SUV Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for SUV from 2021 till 2027. The report covers the pre COVID-19 historic data, impact of COVID-19 and post-COVID-19 (Corona Virus) impact on various regions and major countries and…
Electric Vehicle Motor Market by Type (Alternate Current (AC) Motor (Synchronous …
Electric vehicle motor is an electromechanical device used to provide power to electric vehicles by converting electric energy into mechanical energy. This phenomenon is achieved by the interaction of electric motors magnetic field and current. Electric vehicle motor comprises bearings, end bracket, frame, cooling frame, rotor, and stator. The electric vehicle motor market is expected to witness lucrative growth during the forecast period due to increase in the number of…
Passenger Vehicle Market Outlook to 2025 - Top Leading Players Toyota Motor, Vol …
Worldwide Passenger Vehicle Market Analysis to 2025 is a specialized and in-depth study of the Passenger Vehicle Industry with a focus on the global market trend. The report aims to provide an overview of global Passenger Vehicle Market with detailed market segmentation by product/application and geography. The global Passenger Vehicle Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status…
Micro Motor Industry - Johnson Electric, Siemens, Mitsuba Corporation, Nidec Mot …
Global Micro Motor Market is set to rise from its initial estimated value of USD 28.13 billion in 2018 to an estimated value of USD 39.86 billion, registering a CAGR of 4.45% in the forecast period of 2019-2026. This projected rise in the value can be attributed to the increasing applications and demand from the various segments of the market.
Get Sample Copy of this Report @ https://databridgemarketresearch.com/request-a-sample/?dbmr=global-micro-motor-market
Key Market Competitors: Global…
Electric Vehicle Motor Market by Type (Alternate Current (AC) Motor (Synchronous …
Electric vehicle motor is an electromechanical device used to provide power to electric vehicles by converting electric energy into mechanical energy. This phenomenon is achieved by the interaction of electric motors magnetic field and current. Electric vehicle motor comprises bearings, end bracket, frame, cooling frame, rotor, and stator.
Access Full Report: https://www.alliedmarketresearch.com/electric-vehicle-motor-market
The electric vehicle motor market is expected to witness lucrative growth during the forecast period due to increase in…
Sports Utility Vehicle Market to 2025 – Suzuki Motor, PSA Group, FCA Group, Ho …
Sports utility Vehicles Market are the vehicles which appear as a station wagon designed for the off roads travelling which not only used for commercial purpose but for family purpose also providing high functionality with comfort and luxury and above built with enormous space too. One of the major driver for the growth of Sports Utility Vehicles market is the continual improvement in styling, comfort, outer body and systems in…
