Global Electric Motors Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, New York, USA (PRWEB) February 10, 2014
Increase in revenues is motivating market participants to invest in the electric motors market. Countries across the world are realizing the electricity saving opportunities offered by energy efficient electric motors, prompting them to implement stringent regulations and policies to deploy energy efficient electric motors. Thus, the demand for electric motors is rapidly shifting from standard efficiency electric motors to high and premium efficiency motors. This shift in trend is directly contributing to revenue growth of electric motors manufacturers. The study highlights current trends and dynamics affecting the growth of this market. In addition, it also provides detailed information about current effective efficiency standards in each major market and their impact on electric motors market development.
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The report provides current market size and forecast for different types of electric motors and its application segments. Value chain of electric motors market helps to understand the role of each player involved in the industry. Porter’s Five Forces and competitive landscape gives an overview of industry competition and identifies entry barriers for stakeholders looking to enter this market. The company profiles section included in the report gives an idea about key players in the global electric motors market and their growth strategies.
Electric motors are commonly used as a source of mechanical energy in a broad range of residential, industrial and commercial applications such as fans, pumps, compressors, elevators, refrigerators and several other systems. The global electric motors market is expected to see a steady growth through the estimated period 2013 – 2019. Stringent electricity consumption regulations, rising need to reduce green house gas effects and positive outlook of manufacturing industries are expected to propel the growth of global electric motors market. Electric motor is the most vital component used in the production of motor vehicles, heating ventilating and cooling (HVAC) equipment and in several home appliances. Rising income levels and improving standards of living are expected to spur the production of motor vehicles and electronic appliances globally. This is expected to be the primary factor to boost the demand for electric motors globally. In addition, use of energy efficient electric motors minimizes financial burden on consumers and governments by optimizing electricity consumption. Due to the aforementioned factors, electric motors are expected to see a huge demand in the replacement market particularly from industrial users.
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Types of electric motors include AC motors, DC motors and hermetic motors. AC motors are relatively smaller, cheaper and lighter and most commonly used in HVAC equipment, industrial and home appliances; and manufacturing facilities. In 2012, AC motors accounted for the largest revenue share of the overall electric motors market. DC motors are used for variable speed control applications such as motor vehicles, electronic toys, industrial machineries and equipment etc. Hermetic motors are expected to see the fastest growth at a CAGR of 8.5% through the estimated period with rising demand from HVAC manufacturers.