As per Market Research Future (MRFR)’s assessment, the
global electric motors market is anticipated to thrive at
a CAGR of 6.2% during the forecast period 2017 to 2023. The key advantages
offered by these motors over conventional motors are longer life span,
reasonable maintenance cost, lower energy consumption, etc. These factors are
poised to aid demand generation for electric motors over the next couple of
years.
Electric motors are widely used for applications in
HVAC, compressors, pumps, machine tools, electric cars, etc. It is anticipated
to pave its way across more domains in the years to come. This, in turn, is
expected to boost the growth pattern of the electric motors market over the
assessment period. Also, the growth of the end-user industries is likely to
reflect on the future trajectory of the market. It is presumed to propel the
expansion of the electric motors market across the review period.
Electric motors are gaining popularity owing to its
energy efficiency. The growing concerns regarding carbon emissions are
promoting the adoption of electric motors, thus, augmenting the market. Also, a
similar trend is expected to be witnessed in the upcoming years.
Leading Players
The key players of the electric motors market profiled
in this MRFR report are ABB Ltd. (Switzerland), General Electric Company
(U.S.), Siemens AG (Germany), Nidec Corporation (Japan), ARC Systems, Inc.
(U.S.), Allied Motion Technologies, Inc. (U.S.), Denso Corporation (Japan),
Ametek, Inc. (U.S.), Emerson Electric Co. (U.S.), Robert Bosch GmbH (Germany),
Hitachi, Ltd. (Japan), Rockwell Automation (U.S.), Johnson Electric Holdings
Limited (Hong Kong), WEG S.A. (Brazil), and Toshiba International Corporation
(U.S.)
Segmental Analysis
By motor type, the global electric motors market has
been segmented into AC, DC, and hermetic. The AC segment has a larger consumer
base which is likely to support its dominant position in the marketplace over
the assessment period.
By voltage, the electric motors market has been
segmented into upto 1 kV, 1 kV–6.6 kV, and above 6.6 kV. Among these, the upto
1 kV segment contributes significantly towards the development of the market.
The global electric motors market, by output power,
has been segmented into upto 1 hp, and above 1 hp. The upto 1 hp segment, which
accounted for maximum market share in 2016, is expected to exhibit the highest
CAGR across the review period.
By end-use, the electric motors market has been
segmented into industrial, commercial, residential, agriculture, and
transportation.
Regional Analysis
The global
electric motors market, by region, has been segmented into North America,
Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific held the
major share of the market in 2016 and is anticipated to signify a steep rise in
the growth curve over the next couple of years. China, Japan, and India
contributed largely to the development of the electric motors market across the
review period. Additionally, the upswing in demand from end-user verticals is
expected to catapult the market on an upward trajectory.
Also
Read:
No comments:
Post a Comment