DUBAI, UAE. 11th September
2019: Electric Motor Market is projected
to witness a huge growth with a staggering CAGR of 6.38% in the forecast
period. Electric motors are basically a type of electro-mechanical device that
functions on the basis of electromagnetic induction. These devices are highly
long-lasting and very efficient. Looking at its productivity, electric motors
consumes minor energy and has high endurance that can fluctuate voltages. In
addition to this, one of the major advantage of an electric motor is its low
cost than the fossil-fuel engines.
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Advancements in numerous technologies and a massive
expansion in the industrial automation sector are the two major factors that
are driving the growth of the market. Along with these, in large industrial
plants, it is seen that gas turbines are being replaced with electric motors,
which is one of the essential facet that is helping the electric motor market
to grow.
But the market is witnessing an issue due to the portability
of electric motors especially in heavy appliances. Electric motors with complex
electric circuits are facing problems, which is leading to replacement of
faulty components. These reasons are restraining the electric motor market to
grow presently. The government is initiating proactive actions such as
diminishing pollution emitted from vehicles. With an objective to boost the
sales of electric vehicles, the demand of electric motors is anticipated to
increase and will help in reducing environmental pollution. This initiative
will allow the market to grow tremendously in the near future.
Electric motor market is segmented on the basis of type
(alternate current motor, direct current motor, hermetic motor), output power
(integral horsepower, fractional horsepower), voltage range (9V & above,
10V-20V, 21V-60V, 60V & above), application (industrial machinery, motor
vehicle, HVAC equipment, aerospace & transportation, household appliances),
speed (low speed, medium speed, high speed, ultra-high speed) and region (North
America, Europe, Asia Pacific, LAMEA).
Some of the prominent key players of the electric motor
market are Hitachi, Ltd., ABB Ltd., Emerson Electric Co., Weg SA, Toshiba Corp,
Denso Corp, TECO-Westinghouse Motor Company, AMETEK, Inc., Siemens AG, General
Electric Company, Nidec Corporation, Robert Bosch GmbH, Rockwell Automation,
Johnson Electric Holdings Limited and Aquion Energy, Inc.
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Market split by Type,
can be divided into:
• AC Motor
• DC Motor
• Hermetic Motor
Market split by
Application, can be divided into:
• Industrial Machinery
• Automotive
• HVAC Equipment
• Aerospace & Marine
• Household Appliances
Market split by Sales
Channel, can be divided into:
• Direct Sales
• Distribution Sales
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