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Energy Industry News Releases

Electric Motor Sales Market to Grow at a Robust Pace through 2021

 



(EnergyIndustry.Net, June 26, 2020 ) The global Electric Motor Sales Market is expected to grow from an estimated USD 94.23 Billion in 2016 to USD 127.63 Billion by 2021, at a CAGR of 6.26% from 2016 to 2021. Factors driving the market include growing motorized automation across major industries, increasing motor-driven household appliances, continuously growing agricultural sector, strong automobile production, and transition toward energy-efficient motors.

Electric motors are widely used in all the sectors and the global production of electric motors are drastically increased in recent years due to increase in the utilization of motors for maximum output from the major sectors such as industrial, agriculture, residential, commercial, and transportation.

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The market is classified by type into AC and DC motors. AC motors are the fastest growing segment in the market. With increasing applications in end-user industries such as, transportation, chemicals, and many others, the AC motors segment is expected to dominate the market till 2021.

Asia-Pacific is the leading market for electric motor sales
In this report, the electric motor sales market has been analyzed with respect to the following regions, namely, Asia-Pacific, North America, South America, Europe, and the Middle East & Africa. Asia-Pacific is currently the largest market for electric motors, and it is projected to grow at the highest CAGR during the forecast period. China accounted for the majority share in Asia-Pacific in 2016. In Asia-Pacific, the growth of the market can be attributed to factors such as buoyant growth in the agriculture sectors, massive investments in industrialization, and upgrading and replacing aging infrastructure. These factors are driving the market in this region. The figure given below shows the regional scenario of the market from 2016 to 2021.

Heavy electric motors are majorly used in electric vehicles, elevator & hoists, steel rolling mills, machine tools, and all other heavy industrial activities; however, these are not easily portable. This has proved to be a restraining factor for heavy motors. But this factor can be overcome by improving the standards of transportation of heavy motors which in turn can improve the revenue sales of these electric motors.

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Some of the leading players in the Electric Motor Sales Market include ABB Ltd. (Switzerland), Siemens AG (Germany), Nidec Corporation (Japan), Denso Corporation (Japan), General Electric Company (U.S.), Allied Motion Technologies, Inc. (U.S.), Ametek, Inc. (U.S.), Arc System, Inc. (U.S.), Baldor Electric Company (U.S.), Bosch Group (Germany), Emerson Electric Co. (U.S.), Hitachi Ltd. (Japan), Johnson Electric Holdings Ltd. (Hong Kong), Regal Beloit Corporation (U.S.), Rockwell Automation (U.S.), Toshiba International Corporation (U.S.), and WEG (Brazil).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra

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newsletter@marketsandmarkets.com

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