Market Research Report
Global Electric Motor Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||910181|
|Published||Content info||152 Pages
Delivery time: 2-3 business days
|Global Electric Motor Market Forecast 2019-2027|
|Published: September 6, 2019||Content info: 152 Pages||
The global electric motor market is estimated to project a CAGR of 6.08% in terms of revenue and 7.07% in terms of volume during the forecast period. The growing automotive industry is estimated to drive the growth of the global electric motors market.
The use of energy-efficient motors, the growing automotive industry, the increasing demand from the agricultural sector, and the increase in the adoption of electric motors in the HVAC industry, are the factors estimated to drive the growth of global electric motors market. The high initial cost of electric motor restraints the growth of the market. It increases the price of electric and plug-in cars, thereby affecting their purchase, and thus becoming a hindrance for the growth of the market. However, the increasing demand for the specialization of motors and prioritization on optimal design and manufacturing process is estimated to provide ample opportunities for the growth of the market.
Geographically, the global electric motors market is assessed on the basis of the market across various regions, namely North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific market is expected to be the fastest-growing market during the forecast period, while North America is estimated to have the largest market in terms of revenue. The latter is attributed to the surging demand for energy-efficient motors in various industrial processes.
The major players in the global market are Siemens, Emerson Electric Co., Nidec Corporation, Johnson Electric Holdings Ltd., Franklin Electric Co. Inc., Maxon Motors Ag, Rockwell Automation Inc., Regal Beloit Corporation, etc.