20-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Electric Motors Market By Type (Type 1, Type 2, and Type 3) and By Application (Application 1, Application 2, and Application 3): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Electric Motors market in 2019 was approximately USD 125 Million. The market is expected to grow at a CAGR of 5% and is anticipated to reach around USD 212 Million by 2026.
An electrical motor is a machine that converts electrical energy into mechanical energy, which is further used in industries according to requirements.These motors control and regulate the operating of the motor. Electric motor involves two types, namely AC motors and DC motors. These motors consist of power outputs, that are, fractional HP output and integral HP outputs Automotive, industrial machinery, HVAC equipment, aerospace, and household appliance are considered as one of the major users of electric motors.
Browse the full “Electric Motors Market By Type (Type 1, Type 2, and Type 3) and By Application (Application 1, Application 2, and Application 3): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/electric-motors-market-by-type-type-1-type-854
Advancement in technologies and their applications coupled with the growing demand for motor controllers are driving the target market growth. In addition, increasing applications of electric motors in assembly/packaging, elevator control, automation, flight control systems, robotics, etc. is boosting the target market growth. Moreover, acceleration in the purchasing power of the population Inthe developing nations is propelling the target market growth as well. However, higher price of the motor controllers is anticipated to harm the target market growth over the forecast period. Nevertheless, the invention of new and innovative microchips by numerous manufacturers for controlling the motors is expected to fuel the target market growth over the forecast period.
In terms of type, the target market is categorized as DC motors and AC motors. Among these, AC motors are the leading category. AC motors are electric motors that run with the help of electric currents. These motors may be a either single-phase or three-phases.
In terms of power output, the target market is categorized as fractional HP output and integral HP output. Among these categories, the integral output is the dominating one owing to its various benefits
In terms of application, the target market is categorized as automotive, industrial machinery, HVAC equipment, aerospace, household appliance, and other application. Among these categories, industrial machinery is the major one. Industrialmachinerymainlyincludesmanufacturingsectors.Also, the growing trend of automation has augmented the industrial machinery category.
In terms of region, the target market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, Asia Pacific is estimated to be the dominating region over the forecast period owing to the increase in the population of the region coupled with increasing demand for automotive sectors. In addition, countries such as China are considered an industrial hub. Moreover, the increasing trend of medical tourism has accelerated the target market growth. Furthermore, technological advancements in Asia Pacific countries have propelled the target market growth in the region as well. Additionally, huge investment in research and development by government and key players is expected to further enhance the target market in the region.
Some of the key players operating in the target market are Brook Crompton UK Ltd, ABB Group, ARC Systems, Inc., Nidec (Emerson), Dr. Fritz FaulhaberGMBH, Meggitt, Maxon Motors AG, Regal Beloit Corporation, WEG, AMETEK, Allied Motion Technologies, Kearfott Corporation, and Others.
This report segments the Global Electric Motors market as follows:
Global Electric Motors Market: By Type Segmentation Analysis
Global Electric Motors Market: By Power Output Segmentation Analysis
- Fractional HP Output
- Integral HP Output
Global Electric Motors Market: By Application Segmentation Analysis
- Industrial Machinery
- HVAC Equipment
- Household Appliance
- Other Application
- Electric Motors Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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