Dublin, March 26, 2019 (GLOBE NEWSWIRE) -- The "Electric Motor Market (2013-2023)" report has been added to ResearchAndMarkets.com's offering.
According to this research, the electric motor market generated revenue of $108.5 billion in 2017 and is expected to reach $155.1 billion by 2023.
Electric motors are widely used in household appliances, industrial machines, HVAC systems, and motor vehicles. With the increasing industrial activity and demand for electric vehicles around the globe, the market is projected to witness considerable growth during the forecast period.
Going by motor type, the electric motor market is divided into DC motor, AC motor, and hermetic motor. Among all these, AC motors registered the largest market share in 2017 in terms of revenue and are projected to dominate the market in the future as well.
AC motors are widely used because of their high serviceability in applications ranging from household appliances to heavy industrial machineries. They are also useful in commercial drill machines, railway traction mechanisms, kitchen and industrial blenders, vacuum cleaners, dryers, and trimmers due to their constant high rotary speed.
The electric motor market for DC motors is further categorized into brushed DC motors and brushless DC motors. Due to the various advantages of brushless DC motors, including higher efficiency, better speed control, no sparking, higher torque to weight ratio, longer lifetime, more reliability, and less noise, these motors held the higher revenue share in 2017.
The market growth of this category is predicted to be driven by the rise in demand for more controllable, efficient, durable, and silent electric motors for equipment, such as computer numerical control (CNC) machine feed drives, industrial robots, actuators, and extruder drives.
The demand for electric vehicles has recorded rapid growth in recent years. Globally, the sale of electric cars reached 1 million units in 2017. China is the world's largest electric car market, with nearly 580,000 electric cars sold in 2017. The rise in the adoption of electric vehicles is boosting the electric motor market, as electric motors are one of the quintessential components in these vehicles.
According to the World Health Organization (WHO), seven million deaths are recorded every year globally due to air pollution. To address the problem of air pollution through the use of electric vehicles, governments in several countries have set sales targets for these vehicles besides offering subsidies to encourage their adoption.
For instance, the Government of China provided a subsidy of over $10,000 for electric vehicles in 2017, due to which the electric vehicle adoption in the country rose by over 42% after 2016. Thus, the increasing adoption of electric vehicles in countries across the globe is taking the electric motors market ahead.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Motor Type
1.3.2 Market Segmentation by Output Power
1.3.3 Market Segmentation by Application
1.3.4 Market Segmentation by Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Motor Type
4.1.1.1 AC motor
4.1.1.1.1 Synchronous
4.1.1.1.2 Induction
4.1.1.2 DC motor
4.1.1.2.1 Brushless
4.1.1.2.2 Brushed
4.1.1.3 Hermetic Motor
4.1.2 By Output Power
4.1.2.1 Fractional horsepower
4.1.2.2 Integral horsepower
4.1.3 By Application
4.1.3.1 Motor vehicles
4.1.3.2 Industrial machinery
4.1.3.3 HVAC equipment
4.1.3.4 Transportation
4.1.3.5 Household
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Development of high power to weight ratio electric motors
4.3.1.2 Customized electric motors
4.3.2 Drivers
4.3.2.1 Increasing compliance for energy efficient electric motors
4.3.2.2 Rising adoption of motor-driven electric vehicles
4.3.2.3 Increasing usage of electric motors for several applications
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Portability issues with heavy electric motors
4.3.3.2 High primary cost of electric motors
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Development of super premium efficiency IE4 electric motors
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Motor Type
5.1.1 AC Motor, by Type
5.1.2 DC Motor, by Type
5.2 By Output Power
5.3 By Application
5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. MEA Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 Competitive Benchmarking of Key Players
11.3 Recent Activities of Major Players
11.4 Global Strategic Developments of Key Players
11.4.1 Mergers and Acquisitions
11.4.2 Product Launches
11.4.3 Partnerships
11.4.4 Other Developments
Chapter 12. Company Profiles
12.1 Toshiba Corporation
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 Wolong Holding Group Co. Ltd.
12.3 Siemens AG
12.4 Johnson Electric Holdings Limited
12.5 DENSO Corporation
12.6 ABB Ltd.
12.7 Mitsubishi Electric Corporation
12.8 AMETEK Inc.
12.9 Robert Bosch GmbH
12.10 Franklin Electric Co. Inc.
12.11 Regal Beloit Corporation
12.12 Nidec Corporation
For more information about this report visit https://www.researchandmarkets.com/research/9kfmpt/global_electric?w=12
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