Electric motors are gaining traction in the automotive industry for the transportation of humans, materials, and objects. The general awareness regarding the ill effects of fossil fuel burning and global warming have led users to look for alternatives which would suffice their transportation needs. The Electric motors market for electric vehicles has been growing year-on-year and provides a key application area for electric motors on a global scale.
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Application areas such as automotive, industrial machinery and HVAC equipment have led motor manufacturers to devise improved designs of the motors which meet the basic user requirements. Also, conducive government initiatives towards the awareness and adoption of electric vehicles are expected to aid the production and development capabilities of motor manufacturers. Furthermore, motor manufacturers are investing more towards the development of products owing to demand improvement in motor efficiency. The inclusion of individual motors for the wheels in electric vehicles is providing sufficient demand for Electric motors market players.
The detailed research study provides qualitative and quantitative analysis of the electric motors market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue as well as sales volume across regions and further, across all the major countries. The supply side analysis covers regional production volume and capacity analysis. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa and Latin America.
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Asia Pacific is observed to be the largest region in terms of revenue for the Electric motors market. The abundance of manufacturers in the region coupled with growing awareness regarding electric mobility are expected to aid the growth.
HVAC equipment is expected to grow at the fastest rate amongst the various applications of electric motors. The changing climatic conditions around the world are responsible for the growing demand for HVAC equipment. In turn, the demand for electric motors is expected to surge accordingly.
Induction AC motors are observed to gather the highest revenue figures amongst the various types of motors. Attributes such as low maintenance, longer operational life, and applicability in harsh conditions amongst others are helping the growing adoption of induction AC motors.
Some of the players operating in the electric motors market are ABB, General Electric Company, Emerson Electric Co., Hitachi, Johnson Electric Holdings Limited, Robert Bosch GmbH, Rockwell Automation Inc., Siemens, Toshiba International, WEG, Nidec Corporation, Allied Motion Inc., AMETEK Inc.., Arc Systems Inc., Denso, Brook Crompton, DR. FRITZ FAULHABER GMBH & CO. KG, Franklin Electric, maxon motor ag, Regal Beloit Corporation, and TECO-Westinghouse amongst others.
Electric motors market participants are actively investing in product development in order to reduce losses in motor operations and improved product life.
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Electric Motors Market-
Alternating Current (AC) Motor
Synchronous AC Motor
Induction AC Motor
Direct Current (DC) Motor
Brushed DC Motor
Brushless DC Motor
Electric motors market By Power Output
Integral HP Output
Fractional HP Output
Rest of Europe
Rest of South Asia
Rest of Asia Pacific
Middle East and Africa
Rest of Middle East & Africa
Rest of Latin America
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