According to a new market report published by Credence
Research “Electric Motors Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 -
2022,” the global electric motors market is expected surpass US$ 135 Bn by
2022, with rising demand for electric motor driven systems (EMDS) such as
electric appliances, heating, ventilating and air conditioning (HVAC)
equipment, motor vehicles and others. Moreover, rising need to reduce
electricity consumption and mandatory regulations to use energy efficient EMDS
which support higher energy efficiency standards IE2 and IE3 are expected to
influence the growth of the replacement market. The rising adoption of premium
and high energy efficient electric motors particularly developed markets such
as the U.S., Europe and Japan is expected to drive the growth of the overall
electric motors market. In addition, rising industrialization and growing
construction industry is expected to spur the demand for electric motors in
Asia Pacific, Middle East and South America.
Browse Full Report at(Electric Motors
Market - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022) http://www.credenceresearch.com/report/electric-motors-market
In 2014, AC motors accounted for the
majority of revenue share of 80.0% in the overall electric motors market and
commonly used in most of the electric motor driven systems. AC motors are used
in range of residential as well as industrial applications. DC motors are
commonly found in the speed control applications. The market for DC motors is
expected to see a significant growth through the forecast period with rising
production of motor vehicles.
Low voltage electric motors which have
output capacity below 0.746 KW accounted for largest revenue share of 48.3% in
2014. Low voltage electric motors are also known as fractional horsepower (FHP)
electric motors and found its applications in automotive, HVAC equipment, home
appliances, office machinery and several other low voltage applications. Medium
and high voltage electric motors are commonly used in industrial applications.
Stringent energy consumption regulations and government subsidiaries to replace
low energy efficient electric motors is motivating industrial users to replace
their less efficient electric motors with high efficiency or premium efficiency
motors. This is expected to spur the demand for medium and high voltage
electric motors from industrial sector.
Automobile is the largest application
segment for electric motors and accounted for around 31.3% revenue share of the
global electric motors market. Electric motors used in HVAC applications are
expected to see the fastest growth through the forecast period 2015 – 2022 with
growing construction industry particularly in Asia Pacific. In addition,
stringent electricity consumption and environment protection and rising
electricity prices, are forcing households across the world to replace their
less efficient electric motor driven systems (EMDS) with high energy efficient
electric motor driven systems. Significant demand for electric motors is also
expected from industrial as well as commercial sectors.
The electric motor manufacturing
industry is highly fragmented and comprises large number of recognized
international players as well as small domestic players. Some major players in
this industry include Baldor Electric Company, ASMO Co Ltd, Regal Beloit, Brook
Crompton UK Ltd, AMTEK Inc, Franklin Electric Co., Inc., Danaher Motion LLC,
Rockwell Automation Inc, Siemens AG and Allied Motion Technologies Inc.
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Electric Motors Market Size, Share, Growth Analysis, ana Forecast To 2022 – by Credence Research
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