Rising Energy Demand Catalyzing UAE Electric Motor Market

(MENAFNEditorial) The UAE electric motor market has witnessed a positive growth during the past several years. This can be accredited to the growing energy consumption in the country coupled with government initiatives to increase power generation. According to the latest report by IMARC Group,'UAE Electric Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022, thereached a value of around US$ 185 Million in 2016. An electric motor runs on the basic principle of electromagnetic induction and converts electrical energy into mechanical energy. Electric motors are classified into two types, typically AC motors and DC motors. These motors are extensively used in industrial, residential, commercial and other (transportation, agriculture) end-use sectors for varied applications. This can be attributed to the various benefits offered by electric motors such as low initial cost and maintenance requirement, long operating life, high efficiency, etc.

Highlights of the UAE electric motor market:

Rising energy consumption in the UAE represents the key growth inducing factor.

HVAC represents the largest end-use segment, accounting for majority of the total share.

The market is expected to reach a volume of US$ 265 million by 2022.

The UAE electric motor market is driven by the rising energy consumption in the UAE, due to which the government is actively planning to increase its power generation. Apart from this, the market is driven by the rising demand from the paper and pulp, cement, desalination, water and wastewater sectors, wherein electric motors are used in pumps and compressors. Additionally, growing popularity of electric vehicles on account of rising environment concerns in the region has facilitated the market growth. The thriving food and beverage industry has also contributed to the demand for electric motors since they are found in equipment such as dishwashers, coffee grinders, microwaves, electric can openers, and others. Some of the other factors contributing to the demand for electric motors include rising automation in various industrial sectors, massive investments and technological advancements in the region. Owing to the aforementioned factors, the market is expected to reach a value of US$ 265 million by 2022, growing at a CAGR of around 6.2% during 2017-2022.

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The UAE electric motor market has been segmented on the basis of application. Some of its major applications are found in pumps and fans, compressors and others. The market is also segmented on the basis of end-use, covering HVAC, oil and gas, food and beverage, mining, water and utilities, and others. Based on efficiency, the market is segmented into IE2, IE3, IE1 and IE4. On analyzing the competitive landscape of the market, it is found that ABB, Siemens, WEG Industries, NIDEC Corporation and TECO Middle East Electrical & Machinery Co. Ltd. are the key players operative in the market.

The report by IMARC Group has examined the UAE electric motor market on the basis of:

Application:

Pumps and fans

Compressors

Others

End-use:

HVAC

Oil and gas

Food and beverage

Mining

Water and utilities

Others

Efficiency:

IE2

IE3

IE1

IE4

Key Players:

ABB, Siemens

WEG Industries

NIDEC Corporation

TECO Middle East Electrical & Machinery Co. Ltd.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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