Market
Highlights
The global Electric motors market will be driven by the increasing
applications and the huge installations of electric motors in marine, oil and
gas, energy and power and other industries. These industries are dependent on
use of machines which require constant power supply. The industrial machines
supply power and in turn, drive the electric motors market. The policy makers
are focusing on public transit infrastructure, with very less pollution for
tackling of the air pollutant emissions, mostly in the densely populated cities
and megacities. The other factors which are driving the automotive connectors
market is the increasing level of urbanization in all the developing economies,
the increasing urbanization and the increasing automation in various industry
sectors.
Industry
Overview
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.
Key
Players
The key players of Electric motors market are BB Group Ltd. (U.K.),
Siemens AG (Germany), AMETEK Inc. (U.S.), ARC Systems Inc. (U.S.), Brook
Crompton Americas (U.S.), Emerson Electric Co. (U.S.), Hitachi, Ltd. (Japan),
General Electric Company (U.S.), Franklin Electric Co., Inc. (U.S.), Johnson
Electric Holdings Limited (Hong Kong), Nidec Corporation (Japan), Maxon Motor
AG (Switzerland) and others.
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Industry
Segmentation
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.
Regional
Outlook
Asia-Pacific region is expected to dominate the Electric motors market
and is projected to grow at the highest CAGR. The growth of the Electric motors
market in Asia-Pacific region is attributed to the rapid growth in the
agricultural sector. The rapid industrialization and the intense setting up of
manufacturing industries which require the use of electric motors of various
capacity is expected to drive the market of the electric motors in the region.
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