Electric Motor Sales Market is anticipated to reach USD 155.3 billion by 2025. Electric motors are extensively used in compressors, industrial fans, pumps, machine tools, domestic appliances, automated robots, lathe machines, HVAC applications, power tools, disk drives, and electric cars.
The
factors that propel the growth of the Electric Motor Sales industry include
growing demand for automobile production and power utilities along with the
increase in residential and commercial infrastructure development, particularly
in the emerging countries. On the other hand, there are factors that may hamper
the growth of the market including high capital investments, and low adoption
rate. Electric Motor Sales Market is anticipated to grow at a significant CAGR
of 4.2% in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
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The
market may be explored by type, application, voltage, output power, and
geography. Electric Motor Sales industry may be explored by type as AC Motors,
and DC Motors. The “AC Motors” segment led the market in 2016 and is
anticipated to maintain its dominance by 2025 owing to widespread use across
application parts such as robotics and irrigation pumps.
The
key applications that could be explored in the Electric Motor Market include
Motor Vehicles, Industrial Machinery, HVAC Equipment, Aerospace &
Transportation, Household Appliances, Others. The “Motor Vehicles” segment led
the market in 2016 and is anticipated to maintain its dominance by 2025 due to
surge in electric vehicle manufacturing across the world.
The
Electric Motor Sales industry could be explored based on Voltage as < 1 kV
(Low), 1 kV–6.6 kV (Medium), and > 6.6 kV (High). The “< 1 kV (Low)”
segment led the market in 2016 and is anticipated to maintain its dominance by
2025 due to rapid growth in the power sector. The market may be analyzed by
output power as < 1 hp (Fractional horsepower), and > 1 hp (Integral
horsepower).
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Asia-Pacific
accounted for the major share of the Electric Motor Sales Market Size in 2016
and will continue to lead in the forecast period. The factors that could be
attributed to the growth includes constant surge in the manufacture of motor
driven systems, such as HVAC equipment, household appliances, and industrial,
in foremost nations, such as India, Singapore, China, Indonesia, and South
Korea.
Some
of the key players that fuel the growth of the Electric Motor Sales industry
comprise Siemens AG, ABB Ltd., General Electric Company, Denso Corporation,
Nidec Corporation, Allied Motion Technologies, Inc., Bosch Group, Ametek, Inc.,
Emerson Electric Co., Johnson Electric Holdings Limited, Hitachi, Ltd., Regal
Beloit Corporation, WEG, Rockwell Automation, ARC Systems, Inc., Toshiba
International Corporation, and Baldor Electric Co. The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
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