The electric motor is an electrical device that converts electrical energy into mechanical energy. Electric motor is an indivisible constituent of heating, ventilation, and cooling (HVAC) equipment. Electric motors are also used in several industry applications such as industrial machinery, home appliance and motor vehicles among others. The report provides analysis of global electric motor sales market for the period 2016-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. According to Acumen Research and Consulting, the global electric motor sales market is expected to grow at significant CAGR around 8% throughout the forecast period and reach around US$ 214 billion by 2026.
Increasing technological advancements, surge in electric vehicles production, various advantages offered by electric motor, rise in awareness towards green vehicles, enhanced insulation and operational efficiency and growing fuel prices across the globe are some of the key factors that are fueling the electric motor sales market growth across the globe. Rising fuel costs over the globe are forcing individuals to shift to non-traditional fuel options. Electric vehicles are manufactured in order to reduce the overall operational costs and carbon footprint. Increase in electric vehicles production is anticipated to boost the demand for electric motors. Also the electric motors are used in performance components in order to console the components of the vehicle. Moreover, growing number of government incentives in order to promote the green vehicles sale for the protection of environment from carbon emissions is playing as a key factor in the growth of the global market. The safety and functionalities of motors is improved with the enhanced operational efficiency and insulation, resulting in the increased demand for electric motors across various industries. Rapid technological advancement is gaining the traction in the market. The demand for electric motors is rapidly increasing in the various countries, such as India, Brazil, Sri Lanka, Vietnam, and Argentina as they have an extensive population relying on the agriculture. Hence, the demand for energy efficient and cost effective products has increased in these countries. Increase in electric vehicles production is anticipated to boost the demand for electric motors. Additionally, the environmental advantages provided by the electric motors is increasing the penetration of the electric motors in electric vehicles, thereby supplementing the overall market growth. Electric vehicles are manufactured in order to reduce the overall operational costs and carbon footprint. Growing adoption of energy efficient products in agricultural and industrial sectors is further boosting the growth of the market.
Electric motor sales Market, By Motor Type:
Electric motor sales Market, By Power Output:
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Global Electric motor sales Market, by Geography
The market research study on “Electric Motor Sales Market (Electric motor sales Market, By Motor Type: AC Motor [Synchronous AC Motor, Induction AC Motor], DC Motor [Brushed DC Motor, Brushless DC Motor], Hermetic Motor; Electric motor sales Market, By Power Output: Integral HP Output, Fractional HP Output; Electric motor sales Market, By Application: Industrial Machinery, Motor Vehicles, HVAC Equipment, Aerospace & Transportation, Household Appliances, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers detailed insights on global electric motor sales market segments with market dynamics and their impact. The report provides insights on global electric motor sales market by application, power output, motor type and major geographic regions. The report also covers basic technology development policies.
The global electric motor sales market is characterized by the presence of experienced and established players. Some of the key players include Allied Motion Technologies, Inc., General Electric Company, Baldor Electric Company, Inc., Ametek, Inc., Franklin Electric Co., Denso Corporation, Johnson Electric Holdings Ltd., Siemens, Rockwell Automation, and Asmo Co., Ltd.
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