New
York 15 April 2019:
The report “Electric Motors Market [By Type (AC Motor, DC Motor,
Hermetic Motor); By Voltage (9 V & Below, 10-20 V, 21-60 V, 60 V &
Above); By Output Power (Integral HP Output, Fractional HP Output); By End-User
(Automotive, Agriculture, Residential, Commercial, Industrial, Others); By
Region]: Market Size & Forecast, 2018 – 2026” The global electric motors market
is anticipated to reach over USD 157.4 billion by 2026 according to a new study
published by Polaris Market Research. In 2017, the AC motor segment dominated
the global market, in terms of revenue Asia-Pacific is expected to be the
leading contributor to the global market revenue of electric motors during the
forecast period.
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The diverse applications of
electric motors in majority of industries such as healthcare, construction,
packaging, automotive, and consumer goods among others are expected to support
the growth of this market. Other driving factors include rising demand for
electric motor in household appliances, growing use in HVAC applications, and
government support for development of high efficiency electric motors are
propelling the market growth. However, high maintenance costs, and stringent
regulations hampering the market growth. Growing demand from emerging
economies, and technological advancements are factors expected to provide
numerous growth opportunities in the coming years.
The growing adoption of electric
vehicles is expected to support market growth of electric motors. The increasing
requirement to reduce vehicle emissions and global carbon footprint drives the
demand for electric vehicles. Use of electric vehicles offer benefits such as
low maintenance costs, reduced harmful vehicle emissions, while providing
comparable power. Electric vehicles are
increasingly being used to restrict the emission of carbon, nitrogen, and other
harmful compounds from gasoline and diesel vehicles. This is one of the largest
ancillary industry which is pushing the demand for electric motors globally.
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Asia-Pacific generated the highest
revenue in the market in 2017, and is expected to lead the global market
throughout the forecast period. The presence of emerging industries such as healthcare,
agriculture, construction, and automotive, substantial initiatives in research
and development, and favorable government policies drive the market growth.
Rapid industrialization and growth of manufacturing industry further support
market growth in the region.
The different types of electric
motors include AC motors, DC motors, and hermetic motors. In 2017, the AC motor
segment accounted for the highest market share owing to the increasing demand
for AC motors from industries such as agriculture, paper & pulp, and
chemicals. They are majorly used in industrial applications and machine tools.
Some key features offered by AC motors include controlled acceleration, low
power demand on start, adjustable operational speed, adjustable torque limit,
and reduced power line disturbances among others.
The well-known companies profiled
in the report include Emerson Electric Co., Rockwell Automation, Inc., Ametek,
Inc., Siemens AG, Denso Corporation, Bosch Group, Baldor Electric Co., ABB
Ltd., Hitachi, Ltd., General Electric Company, Allied Motion Technologies,
Inc., and Regal Beloit Corporation among others. These companies launch new
products and collaborate with other market leaders to innovate and launch new
products to meet the increasing needs and requirements of consumers.
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Key
Segments:
Electric
Motors Market Size and Forecast, 2017-2026 by Type
·
Key
Findings
·
AC
Motor
·
DC
Motor
·
Hermetic
Motors
Electric
Motors Market Size and Forecast, 2017-2026 by Voltage
·
Key
Findings
·
9
V & Below
·
10-20
V
·
21-60
V
·
60
V & above
Electric
Motors Market Size and Segment Forecast, 2017 - 2026 by Output Power
·
Key
Findings
·
Integral
HP Output
·
Fractional
HP Output
Electric
Motor Market Size and Forecast, 2017-2026 by End-User
·
Key
Findings
·
Industrial
Machinery
·
Motor
Vehicles
·
HVAC
Equipment
·
Aerospace
& Transportation
·
Other
Applications
Electric
Motor Market Size and Forecast, 2017-2026 by End-User
·
Key
Findings
·
Automotive
·
Agriculture
·
Residential
·
Commercial
·
Industrial
·
Others
Electric
Motor Market Size and Forecast, 2017-2026 by Region
·
North
America [U.S., Canada]
·
Europe
[Germany, UK, France, Italy, Spain, Belgium, Netherlands, Rest of Europe]
·
Asia-Pacific
[China, India, Japan, South Korea, Singapore, Malaysia, Rest of Asia-Pacific]
·
Latin
America [ Brazil, Mexico, Argentina, Rest of Latin America]
·
Middle
East and Africa [Israel, South Africa, Saudi Arabia, UAE, Rest of MEA]
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About
Polaris Market Research
Polaris Market Research is a global
market research and consulting company. The company specializes in providing
exceptional market intelligence and in-depth business research services for our
clientele spread across different enterprises. We at Polaris are obliged to
serve our diverse customer base present across the industries of healthcare,
technology, semi-conductors and chemicals among various other industries
present around the world. We strive to provide our customers with updated
information on innovative technologies, high growth markets, emerging business
environments and latest business-centric applications, thereby helping them always
to make informed decisions and leverage new opportunities. Adept with a highly
competent, experienced and extremely qualified team of experts comprising SMEs,
analysts and consultants, we at Polaris endeavor to deliver value-added
business solutions to our customers.
Contact
us
Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
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