One of the key drivers for the growth of Electric
motors market is the increasing adoption of electric motors in the industrial
machinery along with household appliances. The increase in need of more
efficient electric motors for achieving efficiency in usage of energy along
with cost effectiveness is driving the growth of the market. The electric
motors are used in agricultural equipment. The growth of the agricultural
sector and the increase in use of motor operated equipment in the agricultural
sector is further expected to drive the demand of the electric motors market.
The increase in awareness about the effect of greenhouse gases is also leading
to a shift from conventional motors to the electric motors, which is expected
to drive the global electric motors market during the forecast period. However,
the growth of this market is expected to be restrained by the high cost of
electric motors and the lack of awareness for use of electric motors.
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The report has been analyzed based on the type, output
power, application and region. On the basis of type, the AC (Alternate Current)
segment is expected to grow the highest. Alternating current motors convert the
electric energy (the alternating current) to the mechanical energy, which is
used for functioning by the machines. The easy availability of the alternating
current power is also leading to the increased use of AC electric motors,
thereby driving the growth of the market. The AC electric motor can be
manufactured in various sizes ranging from a few watts to thousands of
kilowatts, which makes its useful in all types of applications thereby leading
to the growth of the market.
Competitive
Landscape:
ABB Ltd. (Switzerland), Siemens AG
(Germany), General Electric Company (U.S.), Nidec Corporation (Japan), Denso
Corporation (Japan), Allied Motion Technologies, Inc. (U.S.), Ametek, Inc.
(U.S.), Robert Bosch GmbH (Germany), and Emerson Electric Co. (U.S.). Hitachi,
Ltd. (Japan), Johnson Electric Holdings Limited (Hong Kong), Rockwell
Automation (U.S.), WEG S.A. (Brazil), ARC Systems, Inc. (U.S.), and Toshiba
International Corporation (U.S.) are among others.
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Electric
Motors Market Segmental Analysis:
The global electric motors market has
been segmented based on type, voltage, output power, and end use.
By type, the global electric motors
market has been segmented into AC motor, DC motor, and Hermetic motor. The AC
motors segment is the largest segment, the growth of which can be attributed to
its wide application across diverse end-use industries.
By voltage, the global electric
motors market has been segmented into 1 kV, 1 kV–6.6 kV and Above 6.6 kV. The
Up to 1 kV segment dominated the market in 2016 and is expected to be the
fastest growing segment as well. Being cost effective Up to 1 kV motors are
extensively manufactured by local and international players.
By output power, the global electric
motors market has been segmented into Up to 1 hp and Above 1 hp. The Up to 1 hp
segment is the largest as well as the fastest growing segment. The Up to 1 hp
motors finds large scale application in numerous home appliances as well as in
small-scale electrical applications.
By end use, the global electric
motors market has been segmented into industrial, commercial, residential,
agriculture and transportation.
Electric
Motors Regional Market Analysis
By region, the global electric motors
market has been segmented into North America, Europe, Asia Pacific (APAC), and
the Rest of the World (RoW).
APAC is the leading market for
electric motors. The growth of the market can be attributed to the economic
upsurge in the region, advancement in the agricultural sector, expansion of the
electrical appliances industry in the region.
Diversification of the agricultural
industry in both North America and Europe has opened up avenues for the growth
of the electric motors market in these regions. Growth in the industrial,
commercial, residential, and automotive sector in these regions reflect
positively on the growth of the electric motors market.
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