BANGALORE, India, March 2, 2020 /PRNewswire/ -- The electric motor transforms mechanical energy into electrical energy. The components of an electric motor include the rotor, bearings, stator, windings, air gap, and turn. Factors such as angular motions, torque specifications, acceleration, rpm, and control make AC motors an ideal choice for manufacturers of robotic systems.
Regulations such as Minimum Energy Performance Standards (MEPS), are driving the development of the worldwide market for energy-efficient electric motors. In addition, the use of electric motors minimizes the financial burden on governments and customers by reducing electricity consumption.
The basic requirements for electric motors are high efficiency and production, low power consumption, extended working life, and low maintenance costs. Innovations and changing policy structures are critical to the growth of industry and will play a key role in improving product demand over the forecast period.
The report segments the market based on end-user, type and voltage. Based on voltage the market is further classified as Fractional HP Output and Integral HP Output. Based on type the market is classified as Induction AC Motors and Synchronous AC Motors. Based on end-user the market is segregated as Aerospace & Transportation, HVAC Equipment, Household Appliances, Industrial Machinery, and Motor Vehicles.
It is estimated that the global electric motor market will grow from USD 121,856.36 million in 2018 to USD 172,324.65 million by the end of 2025 at a compound annual growth rate (CAGR) of 5.07%.
Strict government regulations and environmental protection policies provide a positive outlook for the expansion of the market. Many countries are taking multiple steps by implementing electric vehicles to reduce CO2 emissions from cars, thus stimulating market growth over the projected forecast period.
Alongside the rising investment, the heating and air-conditioning industry has grown, and, in effect, the share of the commercial sector is increasing globally. Heating, ventilation, air conditioning (HVAC) and refrigeration equipment are heavily influenced by the construction sector. Developing economies are thus the countries indulging in the development of the electric motor industry. Companies are also investing enormous sums in the HVAC industry, resulting in increased demand for electric motor.
Due to the high efficiency of AC synchronous motors, the increase in demand for superior machine control in the automotive industry is fuelling the growth of the electric motor market.
North America accounted for the largest share in 2017 and is predicted to hold the leading position over the forecast period. That is due to industrial growth and aerospace industry expansion. The US is a leader in the market for electric motors. Hence the market share of electric motors is the largest among the countries of North America.
The Asia Pacific is expected to dominate market growth with most of the demand coming from countries like China and India due to factors such as economic growth in emerging nations, growing electric vehicle penetration, and rising industrial activity.
Europe Electric Motor Market is expected to collect USD 22.32 Billion by 2022, recording a 3.7% CAGR market segmented form, power output, applications.
In recent years the European electric motor industry has seen enormous technological advances. However, growing awareness about eco-conscious living in end-user verticals is accelerating the popularity of goods powered by electric motors, such as electric cars and electrical machinery.
The study provides an overview of the European market forecast for electric motors with particular reference to market trends, market structure, driving factors, industry challenges, scope, and opportunities in the electric motor sector.
The global market for railway traction motors is expected to reach USD 41.63 Billion in 2025, from USD 30.28 Billion in 2016, up 3.8 percent from 2017 to 2025.
Railway traction motors are series-wound brushed DC motors, which usually run on about 600 Volts. The development of high-powered semiconductors (such as thyristors and the IGBT) has made the use of AC induction motors, known as asynchronous traction motors, much simpler and more efficient.
With advancements in railway technology and improvements in vehicle pollution regulations imposed across the markets on transportation systems, the railway traction motor market's success is expected to grow in the future.
The report segments the market by type, application, and geography to offer an in-depth analysis. Furthermore, by type of system, it includes direct current traction motor, alternating current traction motor, and synchronous alternating current traction motor. By type of application, it is classified into diesel locomotives, electric multiple units, electric locomotives, and diesel-electric locomotives. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Electric Traction Motor Market CAGR is expected to grow 17.9 per cent between 2019 - 2025
This report studies the market size (value and volume) of electric traction engines by players, countries, product types and end industries, historical data for 2014-2018 and forecast data for 2019-2025. Based on product type the report is segmented into AC, DC and based on the end user the report is classified as Railway, Electric vehicles, and Others (Elevators, conveyors, and industrial machinery). This report also studies the global competitive landscape, market drivers and trends, opportunities and threats, risks and barriers to entry, distribution channels, distributors and Porter's Five Forces Analysis.
This report presents the global size of the Industrial Electric Motor market ( production and consumption by regions), splits the breakdown by manufacturers, by type:- High Voltage Motor and Low Voltage Motor, by Application :- Oil & Gas, Power Generation, Mining & Metal, Industrial Machinery and others.
This research also looks at the market position, market share, growth rate, future trends, market factors, opportunities and challenges, risk and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.
This report covers the production and consumption by region, revenue, market share, and growth rate of Automotive Electric Motor for each main enterprise and also covers the breakdown data (output, consumption, revenue, and market share). The report contains segmentation by applications :- Passenger Car and Commercial Vehicle, by Type :- Small Automotive Motor, Automotive Starter and Generator. There is historical data between 2013-2018, and future forecasted data upto 2025.
The report provides a list of all the key players on the AC Electric Motors market, along with a detailed analysis of the strategies that are being adopted by the companies. The approaches include mainly new product development, Market Analysis, Distributors, and development, and provide sales estimates, business summary, Upstream Raw Materials and recent industry innovations to remain competitive in the marketplace. The report is segmented by applications like Industrial, Automotive, Agriculture, Construction, Power Industry and others. It also covers Sales, Revenue, Price and Gross Margin by country and regions. The report is segmented by types like Induction Motor and Synchronous Motor.
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