Global Electric Motor Market 2015-2019
About Electric Motors
One of the biggest achievements in the field of engineering and technology is the invention of motors or, more specifically, electric motors. Since then the world has come a long way from using electric power to glow bulbs to converting electrical energy to drive various mechanical machinery. An electric motor is an electromechanical device that converts electrical energy into mechanical energy. The advent of motors has helped the world move from being manual to a highly mechanized one. Right from household appliances to industrial machinery, currently everything runs on electric motors. The market is expected to grow further due to the widespread adoption of electric vehicles among people in various countries. Electric motors can be segmented into different types based on either their output power or on the basis of their type. The most widely used electric motors are FHP based on output power and AC motors based on type of electric motors. Electric motors are now being widely incorporated into electric vehicles. Also, there is a huge demand for electric motors from the HVAC industry; a whole lot of HVAC appliances incorporate electric motors for efficient operation.
Technavio's analysts forecast the global electric motors market to grow at a CAGR of 6.30% over the period 2015-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global electric motors market during the period 2015-2019. For ascertaining the market size and vendor share, the report considers revenue generated from the sales of electric motors.Technavio's report, the Global Electric Motors Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Electric Motor Market 2015-2019
Technavio recognizes the following companies as the key players in the global electric motor market: ABB, Ametek, Baldor Electric, Brook Crompton UK, Danaher Motion, Emerson Electric, Faulhaber Group, Johnson Electric Holdings, Maxon Motor, Regal Beloit and Siemens
Other Prominent Vendors in the market are: Allied Motion Technologies, ARC Systems, Asmo, Franklin Electric, Huali, Nidec, Rockwell Automation, TECO-Westinghouse and Toshiba
Commenting on the report, an analyst from Technavio’s team said: “Stringent electricity consumption standards and rising energy prices of are driving greater demand for energy-efficient electric motors all over the world. Vendors are forced to implement various standards and regulations that govern the manufacturing of energy-efficient electric motors. However, technological advances and more advocacy from the vendors' end will likely contribute to market growth during the forecast period.”
According to the report, an increasing number of consumers are adopting electric vehicles. Thus, wider adoption and rising sales of these vehicles will drive the demand for electric motors during the forecast period.
Further, the report states that fluctuating prices of raw materials are affecting market revenues, as well. Consequently, vendors struggle to offer superior-quality products at competitive prices.
ABB, Ametek, Baldor Electric, Brook Crompton UK, Danaher Motion, Emerson Electric, Faulhaber Group, Johnson Electric Holdings, Maxon Motor, Regal Beloit, Siemens, Allied Motion Technologies, ARC Systems, Asmo, Franklin Electric, Huali, Nidec, Rockwell Automation, TECO-Westinghouse, Toshiba
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