Market Research Report
Asia Pacific Electric Motor Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||910178|
|Published||Content info||99 Pages
Delivery time: 2-3 business days
|Asia Pacific Electric Motor Market Forecast 2019-2027|
|Published: September 6, 2019||Content info: 99 Pages||
The Asia Pacific electric motor market is estimated to project a CAGR of 6.99% during the forecast period. It is expected to acquire the highest growth potential in terms of The Asia Pacific electric motor market is estimated to project a CAGR of 7.79% in terms of volume and 6.99% in terms of revenue during the forecast period. It is expected to acquire the highest growth potential in terms of value and volume. The unprecedented increasing demands for energy-efficient motors at oil & gas production sites, along with its various applications and advantages, has propelled the growth of the market.
The Asia Pacific market is segmented into China, South Korea, Australia, India, Japan, and the Rest of Asia Pacific. The manufacturers are opting for the production of energy-efficient motors, thereby enhancing the automotive industries to reduce power consumption. The use of energy-efficient electric motors is the current trend and also results in the reduced use of electricity, all of which would increase the growth of the market. There is an increase in investments and innovations with regards to electric and green vehicles owing to the rising awareness about environmental pollution. The cost of electric motors poses a threat to the growth of the market. Most developing countries thrive on agriculture, and hence the dependence on machines requires a regular power supply. All these factors are estimated to contribute to the electric motors market in a huge manner.
The major companies of the market are adopting various technological and innovative designs. Emerson Electric Co., Maxon Motors Ag, Denso Corporation, Nidec Corporation, Dr. Fritz Faulhaber GmbH Co. KG, Franklin Electric Co., Inc., Johnson Electric Holdings Ltd. are some of the companies functioning primarily in the electric motor market.