The Global Electric Motors Market to Reach US $135 Bn
by 2022
According to a
new market report published by Credence Research “Electric Motors Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022,”
the global electric motors market is expected surpass US$ 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.
For More
Reports Related to This Category @ http://www.credenceresearch.com/industry/energy-and-power-market
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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Credence
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We offer our customers some assistance with making enduring enhancements to
their execution and understand their most imperative objectives. Over almost a
century, we’ve manufactured a firm extraordinarily prepared to this task.
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