New York, NY, April 26, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Electric Motors Market By Type (Alternate Current Motor, Direct Current Motor, and Hermetic Motor), By Power Output (Integral HP and Fractional HP), and By Application (Industrial Machinery, Automobile, HVAC Equipment, Aerospace, Household Appliances, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global electric motors market was valued at USD 111,458 million in 2018 and is expected to reach USD 191,726 million by 2027, at a CAGR of 6.3% between 2019 and 2027.
A machine that converts electrical energy to mechanical energy is known as an electric motor. It integrates the winding currents and magnetic field to produce pressure in the form of rotation. Electric motors are charged by direct current sources, such as motor vehicles or rectifiers, batteries, or by alternating current sources, such as inverters or electrical generators and power grids.
Browse through 84 Tables & 27 Figures spread over 338 Pages and in-depth TOC on “Global Electric Motors Market Size & Share 2018 Report: By Type, Industry Segments, Research, Analysis and Forecast 2027”.
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Manufacturers across the globe are trying to integrate new technology and automation into their operations. This, in turn, is helping companies achieve greater employee productivity and higher efficiency. Technology is expected to continually impact workers in the fourth industrial revolution. The combination of automation and new technology is impacting a wide variety of fields with significant transformation. The concept of mechanical motion is not a new one, but recent discoveries have led to numerous developments in the global electric motors market. In the 20th century, maximum applications are converted from steam and human power to electromechanical means, which drives innovations in electric motors manufacturing features or materials. The growth of the manufacturing industry and rising industrialization are supporting the growth of the electric motors market in various regions. Rapid industrialization in countries like Indonesia, Malaysia, and Thailand are further contributing to the growth of the electric motors market.
On the basis of type, the electric motors market is segmented into alternate current motor, direct current motor, and hermetic motor. The alternate current motor segment is expected to hold the largest market share and also grow at the highest rate in the upcoming years. By power output, the market is bifurcated into internal HP and fractional HP. The fractional HP segment is anticipated to hold the largest market share, whereas the integral HP segment is likely to register the highest CAGR in the future. Based on application, the electric motors market is divided into industrial machinery, automobile, HVAC equipment, aerospace, household appliances, and others. The automotive segment is anticipated to hold the largest market share in the years ahead.
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The North American automotive industry is growing steadily, owing to the presence of renowned manufacturers and a strong customer base. Various business activities, such as mergers and acquisitions, site relocations, etc., are highly observed across the region. The presence of two developed economies, the U.S. and Canada, has a great impact on the sales and new innovation of the electric motors market in the region. There is a rising demand for HVAC systems in the U.S. manufacturing sector. In 2017, the manufacturing sector in the U.S. contributed about 2.1% to the world’s GDP as compared to 1.6% in 2016.
The demand for electric motors in Europe is anticipated to increase in the future, due to the rapidly increasing number of vehicles over the last few years and the growing need for various household appliances. Europe is the hub of numerous automotive manufacturers with the presence of key manufacturers, such as VW Group, BMW, Daimler, etc. UK, France, and Germany are anticipated to be the prime contributors to this regional market’s growth in the future. In 2018, it was estimated that about 30% of the families in France owned two cars. The demand for HVAC systems among various European automotive manufacturers is expected to propelin the coming years. Approximately, in 2017, 19.6 million motor vehicle units were manufactured in Europe. Europe gave a contribution of almost 23% to the global motor vehicle production in 2017. Furthermore, in Europe, the passenger vehicle registrations witnessed a year-on-year growth of 3.3% during the same period.
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The Asia Pacific is expected to hold a substantial share of the global electric motors market over the forecast timeframe. Japan, China, and India are the major contributors of the Asia Pacific electric motors market due to the flourishing commercial sector. Between 2014 and 2017, investments in offices and IT/ITES real estate in India grew up by 150%. Office space leasing in India increased by over 10% in the first half of 2018. GDP from the construction sector in India from 2011 to 2018 was averaged at USD 29.11 billion. Furthermore, India’s real estate sector was valued at USD 126 billion in 2015 and is estimated to reach USD 180 billion by 2020. The industrial production in China witnessed a year-on-year increase of 6.1% until August 2018. Additionally, in 2016, the sales of ventilation systems and fans in China increased by almost 21% in 2016, due to the residential sector’s growth.
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Some noticeable players of the global electric motors market include 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, Franklin Electric, Maxon Motor, Regal Beloit Corporation, and TECO-Westinghouse, among others.
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This report segments the global electric motors market as follows:
Global Electric Motors Market: By Type
- Alternate Current Motor
- Direct Current Motor
- Hermetic Motor
Global Electric Motors Market: By Power Output
- Integral HP
- Fractional HP
Global Electric Motors Market: By Application
- Industrial Machinery
- Automobile
- HVAC Equipment
- Aerospace
- Household Appliances
- Others
Global Electric Motors Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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