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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Segmental
Analysis
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
Analysis
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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Leading
Players
The key players of Global 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.
Scope
of the Report
This research report has provides
the insights, on various levels of analyses such industry analysis, market
share analysis leading market players and their profiles. This report also
helps in studying the target segments by providing views on emerging &
high-growth segments and market conclusion. Together the market data comprise
and discuss with the basic assessments on the competitive scenarios &
strategies, of the global Electric motors market, including the high-growth
regions, countries and their political, economic and technological
environments. Furthermore the project report also provides the views over the historical
market values as well as, pricing and cost analysis of the same.
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