Strong Demand for Electric Vehicles Spurs Demand for Electric Motors, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) February 10, 2015 -- Follow us on LinkedIn – The global electric motors market is expected to witness growth supported by the increase in automobile production and increase in the number of motors per car. Automotive motors are used in vehicle powertrain systems, chassis, and in internal/external comfort and safety fittings. The growing popularity of vehicle features such as motorized seats, doors, sun-roof systems, wipers, massage seats and adjustable mirrors, are helping drive demand for electric motors, especially brushless direct current (BLDC) motors. The ongoing replacement of solenoid valves with motorized variants will additionally spur opportunities for demand growth. Rising environmental concerns and volatile oil prices are helping accelerate the transition towards electric vehicles. The scenario is forecast to encourage demand for large-sized electric motors with higher torque and power. Developments in motor performance and decline in prices are enabling asynchronous motors to emerge as the most popular electric motors for use in electric military vehicles, large buses, mobile cranes and forklifts.
Fractional horsepower (FHP) motors are widely used in all household appliances ranging from refrigerators, vacuum cleaners to coffee machines. In the industrial environment, heavy equipment is driven by integral horse power (IHP) electric motors. 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 improve plant process reliability, and reduce plant air emissions. The replacement opportunity is large in the oil and gas end-use sector where pumping and compressing applications are widespread. Typically these applications use compressors and pumps, which are driven by turbines, which generate nitrogen oxide (NOx) emissions. Tightening of environmental regulations, which cap (NOx) emissions and mandate NOx reductions in plants are exerting significant compliance pressure on plant operators. The scenario is benefitting sales of electric motors, 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 on Electric Motors, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a projected CAGR of 8.3% over the analysis period. Growth in the region is led by strong economic growth, rapid industrialization, expansion of manufacturing bases, and the growing emphasis on energy efficiency.
Major players covered in the report include ABB Ltd., ACTOM (Pty) Ltd., Allied Motion Technologies, Inc., Ametek Inc., ARC Systems Inc., Asmo Co., Ltd., Baldor Electric Company, Bauer Gear Motor, Brook Crompton, Crompton Greaves Ltd., Danaher Motion, Franklin Electric Co. Inc., General Electric Company, Hitachi, Ltd., Hyosung, Johnson Electric Holdings Ltd., Kirloskar Electric Company Ltd., Leeson Electric, Minebea Co., Ltd., Mitsumi Electric Co., Ltd., Nanyang Explosion Protection Group Co. Ltd., Nidec ASI S.p.A., Nidec Corporation, Panasonic Corporation, Regal-Beloit Corporation, Rockwell Automation, Inc., Sanyo Denki America Inc., Shinano Kenshi Corporation, Siemens AG, TECO-Westinghouse Motor Company, TMEIC Corporation, Toshiba International Corporation, and WEG Electric Corp., 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, company profiles, product launches and other strategic industry activities. The report provides market estimates and projections in US$ Million for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analyzed in the report include Fractional HP Motors and Integral HP (AC Motors and DC Motors).
For more details about this comprehensive market research report, please click here
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 1500+ 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.
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