Electric Motors Market Synopsis:

As per Market Research Future (MRFR)’s assessment, the global electric motors market is anticipated to thrive at a CAGR of 6.2% during the forecast period 2017 to 2023. The key advantages offered by these motors over conventional motors are longer life span, reasonable maintenance cost, lower energy consumption, etc. These factors are poised to aid demand generation for electric motors over the next couple of years.

The global electric motors market is majorly driven by growth in demand for energy efficient electric motors. The upsurge in environmental awareness is leading to higher implementation of the motors that provide energy efficiency, and thus subsidize significantly towards the growth of electric motors market. The increase in the utilization of electric motors by the rapidly expanding agricultural sector is also anticipated to contribute to the growth of the electric motors market. The upsurge in use of electric motors by numerous industrial machineries and household applications is also projected to propel the growth of the market.

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Electric Motors Market Segmentation:

By motor type, the global electric motors market has been segmented into AC, DC, and hermetic.

By voltage, the electric motors market has been segmented into upto 1 kV, 1 kV–6.6 kV, and above 6.6 kV.

The global electric motors market, by output power, has been segmented into upto 1 hp, and above 1 hp.

By end-use, the electric motors market has been segmented into industrial, commercial, residential, agriculture, and transportation. Among these, the residential segment is projected to grow significantly owing to the exponential population growth and rapid urbanization.

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Electric Motors Market Regional Analysis:

The global electric motors market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific held the major share of the market in 2016 and is anticipated to signify a steep rise in the growth curve over the next couple of years. China, Japan, and India contributed largely to the development of the electric motors market across the review period. Additionally, the upswing in demand from end-user verticals is expected to catapult the market on an upward trajectory.

Competitive Dashboard:

The key players of the electric motors market profiled in this MRFR report are ABB Ltd. (Switzerland), General Electric Company (U.S.), Siemens AG (Germany), Nidec Corporation (Japan), ARC Systems, Inc. (U.S.), Allied Motion Technologies, Inc. (U.S.), Denso Corporation (Japan), Ametek, Inc. (U.S.), Emerson Electric Co. (U.S.), Robert Bosch GmbH (Germany), Hitachi, Ltd. (Japan), Rockwell Automation (U.S.), Johnson Electric Holdings Limited (Hong Kong), WEG S.A. (Brazil), and Toshiba International Corporation (U.S.)

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