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Zion Market Research has published a new report titled 'Electric Motors Market By Type (Alternate Current Motor, Direct Current Motor, and Hermetic Motor), By Power Output (Integral HP and Fractional HP), and By Application (Industrial Machinery, Automobile, HVAC Equipment, Aerospace, Household Appliances, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025'. According to the report, the global electric motors market was valued at USD 111,458 million in 2018 and is expected to reach USD 191,726 million by 2027, at a CAGR of 6.3% between 2019 and 2027.
A machine that converts electrical energy to mechanical energy is known as an electric motor. It integrates the winding currents and magnetic field to produce pressure in the form of rotation. Electric motors are charged by direct current sources, such as motor vehicles or rectifiers, batteries, or by alternating current sources, such as inverters or electrical generators and power grids.
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Browse the full 'Electric Motors Market By Type (Alternate Current Motor, Direct Current Motor, and Hermetic Motor), By Power Output (Integral HP and Fractional HP), and By Application (Industrial Machinery, Automobile, HVAC Equipment, Aerospace, Household Appliances, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025 Report at https://www.zionmarketresearch.com/report/electric-motors-market
Manufacturers across the globe are trying to integrate new technology and automation into their operations. This, in turn, is helping companies achieve greater employee productivity and higher efficiency. Technology is expected to continually impact workers in the fourth industrial revolution. The combination of automation and new technology is impacting a wide variety of fields with significant transformation. The concept of mechanical motion is not a new one, but recent discoveries have led to numerous developments in the global electric motors market. In the 20th century, maximum applications are converted from steam and human power to electromechanical means, which drives innovations in electric motors manufacturing features or materials. The growth of the manufacturing industry and rising industrialization are supporting the growth of the electric motors market in various regions. Rapid industrialization in countries like Indonesia, Malaysia, and Thailand are further contributing to the growth of the electric motors market.
On the basis of type, the electric motors market is segmented into alternate current motor, direct current motor, and hermetic motor. The alternate current motor segment is expected to hold the largest market share and also grow at the highest rate in the upcoming years. By power output, the market is bifurcated into internal HP and fractional HP. The fractional HP segment is anticipated to hold the largest market share, whereas the integral HP segment is likely to register the highest CAGR in the future. Based on application, the electric motors market is divided into industrial machinery, automobile, HVAC equipment, aerospace, household appliances, and others. The automotive segment is anticipated to hold the largest market share in the years ahead.
By region, North America is expected to grow at a considerable rate in the global electric motors market in the future, owing to the presence of developed economies like the U.S. and Canada. The U.S. is projected to make significant contributions to the growth of the North American electric motors market. The European electric motors market is likely to be driven by the increasing demand for electric vehicles in Germany and UK in the years ahead.
Some noticeable players of the global electric motors market include ABB, General Electric Company, Emerson Electric Co., Hitachi, Johnson Electric Holdings Limited, Robert Bosch GmbH, Rockwell Automation Inc., Siemens, Toshiba International, WEG, Nidec Corporation, Allied Motion Inc., AMETEK Inc., Arc Systems Inc., Denso, Brook Crompton, Franklin Electric, Maxon Motor, Regal Beloit Corporation, and TECO-Westinghouse, among others.
This report segments the global electric motors market as follows:
Global Electric Motors Market: By Type
- Alternate Current Motor
- Direct Current Motor
- Hermetic Motor
Global Electric Motors Market: By Power Output
- Integral HP
- Fractional HP
Global Electric Motors Market: By Application
- Industrial Machinery
- HVAC Equipment
- Household Appliances
Global Electric Motors Market: By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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