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Electric motors market is expected to grow at a CAGR of 6.3% by 2027, with a significant demand for transportation products that are more environment friendly, says Absolute Markets Insights.

Some of the players operating in the electric motors market are ABB, General Electric Company, Emerson Electric Co., Hitachi, Johnson Electric Holdings Limited

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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Key Findings-

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-

By Type

Alternating Current (AC) Motor

Synchronous AC Motor

Induction AC Motor

Direct Current (DC) Motor

Brushed DC Motor

Brushless DC Motor

Hermetic Motor

Electric motors market By Power Output

Integral HP Output

Fractional HP Output

By Application

Industrial Machinery

Automobile

HVAC Equipment

Aerospace

Household Appliances

Others

By Geography

North America

U.S.

Canada

Mexico

Europe

France

The UK

Spain

Germany

Italy

Nordic Countries

Denmark

Finland

Iceland

Sweden

Norway

Benelux Union

Belgium

The Netherlands

Luxembourg

Rest of Europe

Asia Pacific

China

Japan

India

New Zealand

Australia

South Korea

Southeast Asia

Indonesia

Thailand

Malaysia

Singapore

Rest of South Asia

Rest of Asia Pacific

Middle East and Africa

Saudi Arabia

UAE

Egypt

Kuwait

South Africa

Rest of Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America

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About Us:

Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.

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