The global electric motor manufacturing market was worth $106.9 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.57% and reach $143.2 billion by 2023.
“The Electric Motors Market Research Report” examines the existing as well as sequential performance of the worldwide market. The report also calculates the forthcoming status of Electric Motors market based on thorough analysis. By providing exploratory techniques such as, qualitative and quantitative analysis the report presents a comprehensive analysis of market progression. Graphical presentation of information through charts, (graphs, diagrams, tables as well as pictures), the report provides a lucid and easy understanding of the market to readers.
Increasing use of household appliances is expected to contribute to the growth of the motor manufacturing market in the forecast period. Increasing electrification, rising disposable income, and rapid urbanization along with several other factors are boosting the demand for household appliances, which in turn will drive the market for motors. For instance, the global household appliances manufacturing market is expected to grow from $283.8 billion in 2018 to $396.2 billion in 2022 at a CAGR of 8.7%. This will drive the market for electric motors in the forecast period.
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Companies Covered (Sales, Price, Revenue, Volume, Gross Margin and Market Share)-
ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc. , Baldor Electric Company, Inc. and Other.
Markets Covered: 1) By Type: Alternate Current (AC) Motor; Direct Current (AC) Motor; Hermetic Motor; 2) By Output Power: Integral Horsepower (IHP); Fractional Horsepower (FHP); 3) By Voltage Range: 9v & Below; 10-20 v; 21-60 v; 60 v And Above 4) By Application: Industrial Machinery; Motor Vehicle; HVAC Equipment; Aerospace & Transportation; Household Appliances; Other Commercial Applications; 5) By Speed: Low-Speed (less than 1;000 rpm); Medium-Speed (1;001 to 25;000 rpm); High-Speed (25;001 to 75;000 rpm); Ultra-High Speed (greater than 75;001 rpm)
Regional Outlook of Electric Motors Market report includes the following geographic areas such as: United States, Europe, China, Japan, Southeast Asia, India, Central & South America and ROW
Increased tariffs on raw materials such as steel and aluminum restrained the market for motor manufacturing in the historic period. Steel and aluminum are predominantly used in manufacture of components for motors. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in 2018, USA imposed a 25% and 10% tariffs on import of steel and aluminum respectively.
Motor manufacturing companies are increasingly manufacturing IoT enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detecting any deviation from normal behavior. Smart motors offer several benefits such as increased lifespan of equipment, and improved safety.
In March 2019, Maxon Motor AG, a Switzerland-based company that manufactures and supplies high precision drives and systems such as gears, sensors, controls, compact drives acquired Parvalux Electric Motor for an undisclosed amount. The acquisition is expected to help Maxon Motor AG in becoming a complete solutions provider company by broadening its portfolio in medical technology and industrial automation. Parvalux Electric Motor is a UK based company that specializes in manufacturing geared motors such as DC brushless, DC brushed, gearbox, and generators.
More importantly, the report underscores participant’s financial performance which includes assessment of capital investments, cash flow, Electric Motors sales volume, pricing structure, cost structure, gross margin, profitability, revenue outcome, and growth rate. The assessments enable market players to determine competitors’ financial strengths and dominance across the globe. Furthermore, the report analyzes business strategies adopted by participants that usually comprise recent business expansions, mergers, acquisitions, ventures, partnerships as well as promotional activities, technology adoption, brand developments, and product launches.
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Influence Of The Electric Motors Market Report:
-Comprehensive assessment of all opportunities and risk in the market.
-Electric Motors market recent innovations and major events.
-Detailed study of business strategies for growth of the market-leading players.
-Conclusive study about the growth plot of Electric Motors market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the market.
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– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
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Finally, all aspects of the Global Electric Motors Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter’s Five Forces Analysis and SWOT Analysis.
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MarketInsightsReports provides syndicated market research on industry verticals including Electric Motors, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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