A recent report published by Infinium Global Research on the electric motor sales market provides an in-depth analysis of segments and sub-segments in the global as well as regional electric motor sales market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electric motor sales market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global electric motor sales market. According to the report, the global electric motor sales market is projected to grow at a CAGR of 7.1% over the forecast period of 2019-2025.
Growing demand for power utilities and automobile production along with the increase in commercial and residential growth in the developing economies are the major factors driving the growth of the electric motor sales market. In addition, Sales of electric vehicles have witnessed a tremendous increase owing to favorable government policies and is expected to spur the demand for electric motors. The environmental advantages offered by the electric motors make them acceptable in electric vehicles. In order to reduce energy consumption and carbon dioxide emissions, many governments worldwide have established local regulations, such as MEPS (Minimum Energy Performance Standards), which is expected to drive the demand for environmentally friendly and energy-efficient electric motors. Moreover, increasing awareness of the greenhouse effect is estimated to shift the consumers focus on electric type. This, in turn, is expected to boost the demand for the electric motor sales market. However, lack of awareness about their advantages and high initial purchase cost is curtailing the industry growth. Furthermore, the automobile industry is making investments to cater to stringent pollution standards. Hence, the electric vehicle industry is anticipated to grow exponentially paving an opportunistic way for the electric motors industry. The continuous efforts by the OEMs will foster the industry demand across the globe. For Instance, Volkswagen plans to accomplish 2-3 million electric car sales by 2025. The need for low power consumption and improved efficiency is expected to generate continuous demand for electric motors over the next few years. Furthermore, with the evolving agriculture sector through efficient irrigation practices and technology transfer, the possibility for market growth of these products is expected to increase during the forecast period.
Among the geographies, Asia Pacific dominated the electric motor sales market. The growth in the Asia Pacific is due to Uninterrupted increase in the production of motor-driven systems, such as industrial, HVAC equipment, and household appliances, in major countries such as Singapore, India, China, South Korea, and Indonesia. In addition, apart from the residential and commercial sectors, the demand for energy-efficient electric motors has increased. Thus, the Asia-Pacific region has seen an extraordinary gain and is expected to increase further during the forecast period. Increasing hybrid vehicle sales is anticipated to spur the production rate of electric motors in the Asia Pacific region, strengthening product penetration until 2024. Moreover, the United States has increased the deployment of electric vehicles that are also expected to supplement the demand for electric motors. High acceptance of electric motors in commercial and passenger cars is anticipated to support the regional growth in North America. Electric motors are widely being used in heavy industrial equipment as well as agricultural types of machinery and vehicles. Countries, such as Brazil, Argentina, India, and others have a bulk population depending on agriculture. Therefore, the demand for low-cost and energy-efficient electric motors is increasing in such countries.
The report on the global electric motor sales market covers segments such as type, voltage, and end user. On the basis of type, the sub-markets include induction AC motors, and synchronous AC motors. On the basis of voltage, the sub-markets include fractional HP output, and integral hp output. On the basis of end user, the sub-markets include household appliances, HVAC equipment, aerospace & transportation, motor vehicles, industrial machinery, and other end users.
The report provides profiles of the companies in the market such as ABB Motors and Mechanical, ASMO CO., LTD, AMETEK, Inc., Johnson Electric, Allied Motion Technologies, Franklin Electric, Rockwell Automation, Inc., Siemens AG, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of electric motor sales market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.