DUBLIN--(BUSINESS WIRE)--The "Electric Motor Market by Type, Output Power, Voltage Range, Application & Speed: Global Opportunity Analysis and Industry Forecast, 2018-2025" report has been added to ResearchAndMarkets.com's offering.
The global electric motor market size was valued at $96,967.9 million in 2017, and is projected to reach $136,496.1 million by 2025, growing at a CAGR of 4.5% from 2018 to 2025. In 2017, North America dominated the global market, in terms of revenue, accounting for about 34.3% share of the global market, followed by Asia-Pacific.
The electric motor market has specific and limited application areas and its growth directly depends on the growth of the existing application industries. However, the technology used in the production of electric motors is witnessing a shift from the conventional methods (in which power consumption, efficiency, and noise was of least consideration) to advanced techniques that can be used to manufacture efficient and low-noise motors at an affordable price, thus driving the electric motor market growth.
Electric motors are widely used in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, disk drives, power tools, electric cars, and automated robots. These high-efficiency motors gain importance over standard motors due to longer operating life, low energy consumption, low maintenance, high endurance for fluctuating voltages, and others.
Although high cost of premium motors poses challenge to their adoption, customers now understand their long-term benefits. The use of premium motors increases the efficiency of appliances by approximately 20% as compared to standard motors, which in turn saves energy.
Siemens AG holds a large share of the global electric motor market, with 290 major production and manufacturing plants, and technological advancements in different sectors, including industry, healthcare, energy, and infrastructure. ABB Group generates the second highest revenue in the market.
The North America electric motor market accounted for the highest revenue in 2017 as compared to other regions due to advancements in technology and the usage of electric motors in major sectors such as automotive, domestic appliances, commercial & industrial applications, transportation, and others. In Asia-Pacific, electric motor has its application in industries such as transportation, industrial & commercial applications, HVAC, military, and others.
Thus, AC, DC, and hermetic electric motors have become an integral part of the equipment industry in the region. Moreover, countries in Asia-Pacific are agricultural hub, and therefore the agricultural sector is one among the primary application sectors for electric motors.
The AC motor segment secured the highest share in the global electric motors market in 2017 and is expected to grow at a CAGR of 4.5% during the forecast period. In terms of application, motor vehicles are expected to account for the highest market share in the coming years.
North America is a pioneer in the electric motor market, owing to the expansion of industrial machinery sector in the region. Therefore, AC electric motor market share is highest among the Asia-Pacific countries. More than 60V secured the highest market share in 2017, owing to growth in automotive sector particularly in developing nations. In addition, increase in demand for brushless motors from small-scale food & beverage industries is expected to boost the market growth. North America and Asia-Pacific are expected to register significant growth during the forecast period.
The major players operating in the electric motor industry include ABB Group, ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Dr. Fritz Faulhaber GmbH, Emerson Electric, Maxon Motors AG, Regal Beloit Corporation, Rockwell Automation, Inc., and Siemens AG.
- In 2017, the AC motor segment dominated the global electric motor market in terms of revenue, and is projected to grow at a CAGR of 4.5% during the forecast period.
- The FHP output segment is expected to be the largest customers for the electric motor market players globally.
- North America is projected as one of the most dominant regions in the electric motor market and is expected to witness a high growth rate of around 3.8% during the forecast period.
Key Topics Covered
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter's five forces analysis
3.4. Value Chain Analysis
3.5. Market share analysis, 2017 (%)
3.6. Market dynamics
220.127.116.11. Increase in demand for energy-efficient electric motors
18.104.22.168. High demand in agricultural and industrial sectors
22.214.171.124. Rise in awareness about electric and green vehicles among customers
126.96.36.199. Upsurge in HVAC applications
188.8.131.52. High initial cost of motors
184.108.40.206. Standardization and regulatory norms in emerging markets
220.127.116.11. Improvement in design methods to reduce carbon emissions
CHAPTER 4: GLOBAL ELECTRIC MOTORMARKET, BY TYPE
4.1. Market overview
4.2. Alternate current (AC) motor
4.3. Direct current (AC) motor
4.4. Hermetic motor
CHAPTER 5: GLOBAL ELECTRIC MOTOR MARKET, BY OUTPUT POWER
5.1. Market overview
5.2. Integral horsepower (IHP)
5.3. Fractional horsepower (FHP)
CHAPTER 6: GLOBAL ELECTRIC MOTOR MARKET, BY VOLTAGE RANGE
6.1. Market overview
6.2. 9v & below
6.3. 10-20 v
6.4. 21-60 v
6.5. 60 v and above
CHAPTER 7: GLOBAL ELECTRIC MOTOR MARKET, BY APPLICATION
7.1. Market overview
7.2. Industrial machinery
7.3. Motor vehicle
7.4. HVAC equipment
7.5. Aerospace & transportation
7.6. Household appliances
7.7. Other commercial applications
CHAPTER 8: GLOBAL ELECTRIC MOTOR MARKET, BY SPEED
8.1. Market overview
8.2. Low-speed (less than 1,000 rpm)
8.3. Medium-speed (1,001 to 25,000 rpm)
8.4. High-speed (25,001 to 75,000 rpm)
8.5. Ultra-high speed (greater than 75,001 rpm)
CHAPTER 9: ELECTRIC MOTOR MARKET, BY REGION
9.2. North America
CHAPTER 10: COMPANY PROFILES
10.1. ABB Group
10.2. Arc Systems Inc.
10.3. Brook Crompton UK Ltd.
10.4. Denso Corporation
10.5. Dr. Fritz Faulhaber GmbH Co. KG
10.6. Emerson Electric Co.
10.7. Maxon Motors AG
10.8. Regal Beloit Corporation
10.9. Rockwell Automation Inc.
10.10. Siemens AG
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