Electric Motors: A Global Strategic Business Report
San Jose, California (PRWEB) October 06, 2011
Follow us on LinkedIn - Electric motors, which convert electrical energy into mechanical energy to drive any electrical appliance/equipment, are widely used in industrial fans, blowers and pumps, machine tools, household appliances, power tools and disk drives. The electric motors market is characterized by cyclical demand patterns, technological innovations for quality enhancements, pricing pressures, and continued reduction in lead-time and manufacturing costs. The cyclic and seasonal in nature of business for electric motors are largely due to the fact that some of the important end use markets for these equipments are primarily tied to the number of operational and available industrial plants, which are subject to cyclical trends.
The 2007-2009 financial crisis led world economic recession crippled vital industries across the globe, such as, manufacturing, industrial, chemicals, petrochemicals, automotives, and energy generation, among others. Order placements for electric motors took a beating, due to the aggressive reduction of inventories by distributors coupled with extended holiday shutdowns by OEM customers, which further dampened the spirit of the market. Fall in the business/consumer confidence index, tighter lending standards, rising borrowing costs, drying up of debt markets and the resulting shortages of credit availability to finance new plant establishments, upgradation, renovations, and refurbishments, represented common woes that cut through all end-use sectors, thus weakening new and replacement demand for electric motors.
Demand for electric motors, nevertheless, is expected to experience healthy growth in the upcoming years as is already evident by the resurgence in growth in the year 2010 for most markets across the globe. Population growth, urbanization coupled with infrastructure expansion in emerging economies will drive future gains in the market. Auto related electric motors are poised to grow in the upcoming years in line with the projected increase in both automotive production and increase in the number of motors per car. Number of small motors installed in each car is forecast to rise with the growing sophistication of vehicle electronics and auto power supply technologies. For instance, automotive motors will be used in vehicle powertrain systems, chassis, and in internal/external comfort and safety fittings. With specific reference to the powertrain, the conventional solenoid valve is increasingly being replaced with motorized variants, while in the chassis hydraulic actuators in steering, brake, mechanical gears are being replaced by automatic motor systems.
High-efficiency motors, also known as, premium efficiency motors, in the upcoming years are forecast to gain over standard motors by virtue of numerous benefits stacked in its favor, such as, lower energy consumption, longer operating life, lower maintenance expenditure, extended winding life, higher tolerance for voltage rate fluctuations, reduce heat and vibration generation, among others. Lower energy consumption is an ace advantage given that energy accounts for over 90% of an electric motor’s lifecycle cost. High-efficiency motors typically have optimum ratio of mechanical power output to the electrical power input. Although expensive than conventional electric motors, the long-term eco-benefits offered tend to outweigh the initial upfront cost. The need to replace oversized and/or underloaded motors will generate demand for high efficiency motors in the upcoming years.
The growing trend towards replacing gas turbines with electric motors in large industrial plants bodes well for the electric motors market. Key factors driving the trend include the need to reduce maintenance costs, while simultaneously improving plant process reliability, environmental pressure induced need to reduce plant air emissions, among others. Also gas turbine driven compressor solutions require heavy maintenance, which results in higher plant downtime and non-availability. Tightening of environmental regulations, which cap (NOx) emissions and mandate NOx reductions in plants are exerting significant compliance pressure on plant operators, thus unleashing a search for alternatives. Under such a scenario, electric motors stand to gain given their zero NOx emissions, higher efficiency over 17% in comparison with gas turbines, higher operating speeds, easy installation, and lower noise and vibration.
As stated by the new market research report, Asia-Pacific and the US together accounts for a major share of the global Electric Motors market. The outlook remains especially sturdy for developing regions including Asia-Pacific Rim, parts of Latin America, Africa and the Middle East, which have become lucrative manufacturing hubs. In US, demand for small sized, fractional frame motors are expected to outperform the integral frame motors in forthcoming years. Market for Fractional HP Motors in United States is expected to increase at a CAGR of 5.8% during 2009 through 2017. Market for Integral HP Motors in Asia-Pacific is expected to increase at a CAGR of 7.6% during 2009 through 2017. China is emerging as the largest market for IHP motors across the globe driven by increasing foreign direct investments coupled with growing investments and infrastructure expansion plans across various industry verticals including processing, transportation, home appliances, and automotive.
Major players in the global marketplace include A.O. Smith Corp, Allied Motion Technologies Inc, Ametek Inc, ARC Systems Inc, Asmo Co., Ltd, Baldor Electric Company, Brook Crompton, Danaher Motion, Franklin Electric Co Inc, Johnson Electric Holdings Ltd, Regal-Beloit Corporation, Rockwell Automation Inc., Siemens AG, among others.
The research report titled “Electric Motors: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections (in US$ Millions) for major geographic markets including the United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Product Segments analyzed include Fractional HP Motors and Integral HP Motors (AC Motors and DC Motors).
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
# # #