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CM_17216
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Pages: 210
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Jun 2017 | 16692 Views
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Author(s) :
Sumeet Pal & Kalyani Sonawane
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Tables: 78
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Charts: 56
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Electric Motor Market was valued at $ 91,401 million in 2015 and is projected to reach $117,288 million by 2022, growing at a CAGR of 3.7% from 2016 to 2022. Electric motors are widely used in industrial fans, compressors, pumps, lathe machines, machine tools, domestic appliances, HVAC applications, disk drives, power tools, electric cars, and automated robots. These high-efficiency motors gain importance over standard motors due to longer operating life, low energy consumption, low maintenance, and high endurance for fluctuating voltages, and others.
The report includes the electric motors used in applications such as pumps, compressors, fans, industrial machinery, blowers, domestic appliances, and other applications. The report provides a comprehensive analysis of the types of electric motors used in the industry, including AC, DC, and hermetic motors along with their applications. The revenue generated from the sales of linear motor applications is not considered in the scope of our study. The usage of types of motors in any application depends on the requirements of the application. Therefore, the introduction of advanced electric motors has increased the popularity of high-tech equipment such as robots and electric cars. Moreover, the global electric motor market is segmented based on the output power of the electric motor and their applications in end-user industries such as industrial machinery, transportation, motor vehicles, household appliances, and heating ventilation & air conditioning.
The market estimations in the report include the revenue generated from sales of electric motors for different industrial applications, such as pumps, compressors, automobiles, air conditioners, ventilators, elevators, blowers, fans, motor generators, and others. Every application requires a specific type of motors such as AC induction motors, or brushless DC motor, depending on the requirement of the application. In addition, the report includes the micro level study of various geographies utilizing electric motors for various applications. It discusses the scope for various market players to enter the electric motor market.
Global Electric Motor Market top Impacting Factors
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Limited Portability of Electric Motors
Portability of electric motors is a key issue, especially when used in heavy appliances. The electric motors used in applications with complex electric circuit face issues related to portability or replacement of faulty components. Compact electric motors are commonly used in miniature appliances with varied power supply requirements based on their configuration.
Proactive Government Incentives
Government organizations take initiatives to reduce environmental pollution caused due to carbon emissions from vehicles. The government of various regions offers subsidies to boost the sales of electric vehicles. Several initiatives are being taken by the government of various countries to reduce environmental pollution. The exemption of fuel consumption tax for plug-in vehicles by European Government has encouraged customers to opt for green vehicles. The Green Vehicle Promotion Measure by the Japanese Government to establish tax deductions and exemptions for eco-friendly and fuel-efficient vehicles is expected to boost the growth of the global electric motor market.
High Demand for Electric Motors in Industrial and Agricultural Sectors
Countries, such as India, the U.S., China, Brazil, and Argentina, show high adoption rate of energy-efficient motors in both industrial and agricultural applications. Electric motors are widely used in heavy industrial equipment as well as agricultural vehicles and machinery. Countries, such as India, Vietnam, Brazil, Argentina, Shri Lanka, and others have a substantial population relying on agriculture. Therefore, the demand for energy-efficient and low-cost electric motors has increased in such countries.
Market segments: electric motor market
Alternate Current (AC) Motor
Alternating current (AC) motor is an electrical machine that converts electric energy (alternating current) into mechanical energy, which is utilized by machines to function. Widespread adoption of AC motors is due to the general availability of AC power. Moreover, this type of motor can be built easily with numerous features, and varied sizes ranging from a few watts to thousand kilowatts. Therefore, AC motors are classified as synchronous and induction motors, owing to the plethora of characteristics. They are mainly used in industrial applications and machine tools.
Heating, Ventilation, and Cooling (HVAC) Equipment
At present, buildings, such as offices, warehouses, hotels, and hospitals, utilize thousands of fans and pumps to manage the heat, to cool the air, and to pump fresh water. Moreover, power electronics paves its way into many sectors owing to its advanced features and high reliability, which facilitate the development of energy-efficient buildings. The induction motors are highly efficient electric motors, with the potential to save 40% of energy. Therefore, the demand for electric motors is on a rise for applications in various residential as well as office buildings, hotels, and warehouses.
Key Benefits
Key Vendors Profiled in the Report
Other companies mentioned in the report- Electric motor market, include Whirlpool Corporation, Toyota, Sony Corporation, Bayer AG, DuPont or E. I. du Pont de Nemours and Company, ATI Allegheny Ludlum, Nippon Steel, British Steel Corporation, ThyssenKrupp AG, SAC Armco, Kawasaki Steel Corporation, Redi Services, IHI Corporation, Bechtel Group, MAN AG, Valeo, Tesla Motors, The National Electrical Manufacturers Association (NEMA), Harley - Davidson, Pitman Motors, Elco, GEA Refrigeration Technologies, Embraco, Trane, Century Electric Motors, Eastland Industries, Inc., BDI, Sissco Hoist & Crane, American Crane & Equipment Corp., Bruce Electric Equipment Corp, WEG Electric Corp., Thrush Co. Inc., Arc Systems, Inc., Wolters Motors & Drives, National Liftgate Parts, Inc., EDAC Corp., WESCO, Accurate Electric Motor & Pump Co., Reily Electrical Supply, Inc., Schunk Group, Hansen Motors, ATS Automation Tooling Systems, Inc., Aerotech Inc., Transicold LLC, Bison Gear & Engineering Corp., Leeson Electric, A Regal Beloit Co., Shenzhen Kinmore Motor Co. Ltd, Tianjin Benma Electric Motor Co. Ltd., Connaught Motor (Shenzhen) Co., Ltd., Shenzhen Xin Dong Hui Motor Technology Co., Ltd., LEESON Electric, Adafruit Industries, Mabuchi Motor Company, The Bosch Group, uxcell, A. O. Smith, Grizzly, Nextrox, AmpFlow, Kohree, Dayton, Packard, RioRand, Century Electric Motors, Smith & Jones, North American Electric, Inc, Itron Inc. (ITRI), Toshiba Mitsubishi-Electric India (TMEIC India), Al-Quraishi Electrical Services of Saudi Arabia (AQESA), TECO Electric and Machinery Co. Ltd., Microsoft Corporation, and Ameya Transmissions, Cemp S.r.l.
Electric motor market is in its mature stage; however, is expected to experience a significant growth in the near future. The global electric motor market size is projected to reach $117,288 million by 2022 at a considerable growth rate due to rapid urbanization in the emerging economies such as India, China, Brazil, and others. Other factors that drive the market growth include the high adoption of electric motors in agriculture and industrial applications, increase in use of green vehicles, upsurge in demand of electric motors in HVAC applications, and high efficiency of electric motors.
Electric motors have gained a significant acceptance in wide range of applications such as aerospace and transportation, motor vehicles, industrial machinery, HVAC applications, household appliances, agriculture, and other commercial applications. The industry machinery generated highest share of revenue in the global electric motor industry owing to cost effective and efficient use of electric motors in various types of machineries including elevators, lathes, mills, pumps, compressors, blowers, and generators. Further, standardization of policies related to electric motors in emerging economies have facilitated the growth in overall electric motor market size.
North America electric motor market size was the largest in 2014 and is anticipated to continue its dominance throughout the analysis period. Major manufacturers of various industries have active presence in North America. Further, technological advancements and rise in automotive industry, especially upsurge in use of electric as well as green vehicles have increased the North America electric motor market share.
Key market players adopt various strategies, such as product launches, partnership, promotional activities, and strategic alliances to create more awareness about the technology and help enhance its adoption. Moreover, these vendors are anticipated to invest more into R&D to provide more compact and cost-effective solutions for numerous applications to create eco-friendly products.
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