Published by mark itwired
Posted on September 14, 2021
Global sales of electric motors are set to be valued at over US$ 104 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). A new report estimates the market to expand at over 5.1% CAGR from 2021 to 2031.
According to Future Market Insights (FMI), increasing automation and robotics in industrial production sector have fuelled the demand for electric motors. The market also is gaining from rapid technological advancement and advent of industrial 4.0.
For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-2404
The electric motors market however registered moderate decline in its sales volume in FY2020 due to the unforeseen COVID-19 pandemic. Demand from major end-use industries like automotive, oil & gas, and other waned. Contrary to this, sections of medical sector were not affected due to increase in demand amid the adoption of COVID-19 precautionary measures.
Demand for alternating current (AC) electric motors has been steadily increasing. This can be attributed to operating advantage linked with it, its prime advantage is its speed torque characteristics which has raised the application for electric motors in various end uses, owing to which the AC electric motors has secured a prominent share in the global Electric motors market.
The growing requirement for pumping application from agriculture, water treatment plants, oil & gas sector and other industries is expected to drive the electric motors market in the forecast period.
Increasing number of players are focusing on research and development related to electric motors, which is anticipated to contribute towards market growth in the years to come.
“The electric Motors market is anticipated to grow at a strong pace driven largely by increasing demand for innovative and energy-efficient products across industries. Raising automation and digitalization in various end-use sectors are key factors fuelling the demand for electric motors. Industry participants are investing in expansions, strategic alliances, and cost effective solutions to gain a competitive advantage,” says a Future Market Insights analyst.
The electric motors market is highly competitive with more than 1,000+ players consisting of tier-1, tier-2 and local based vendors across the region, key players accounting for around 20-30% of the market share. These players are likely to invest in new technology developments and expansion of their distribution networks in order to maintain their market presence.
Some of the key players in this industry include but are not limited to General Electric, Robert Bosch GmbH, Hitachi, Ltd., Nidec Corporation, WEG S.A., Siemens AG, ABB Group, Regal Beloit Corporation, Toshiba Corporation, Johnson Electric, Hyosung Corporation, Schneider Electric SE, Bonfiglioli Riduttori S.p.A., Kirloskar Electric Company Ltd., Allied Motion Technologies Inc., East West Manufacturing, LLC, Hyundai Electric Co. Ltd.
The research report analyzes demand for Electric Motors. The global Electric motors market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of power output, product type, application, end use and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-2404
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa |
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, South Africa and North Africa |
| Key Segments Covered | By Power Output, By Product Type, By Application, End Use and Region |
| Key Companies Profiled | General Electric Robert Bosch GmbH Hitachi, Ltd. Nidec Corporation WEG S.A. Siemens AG ABB Group Regal Beloit Corporation Toshiba Corporation Johnson Electric Hyosung Corporation Schneider Electric SE Bonfiglioli Riduttori S.p.A. Kirloskar Electric Company Ltd. Allied Motion Technologies Inc. East West Manufacturing, LLC Hyundai Electric Co. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The post Electric Motors Market: Electrification in Automotive Vehicles to Spearhead Growth first appeared on Market Research Blog.
Global sales of electric motors are set to be valued at over US$ 104 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). A new report estimates the market to expand at over 5.1% CAGR from 2021 to 2031.
According to Future Market Insights (FMI), increasing automation and robotics in industrial production sector have fuelled the demand for electric motors. The market also is gaining from rapid technological advancement and advent of industrial 4.0.
For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-2404
The electric motors market however registered moderate decline in its sales volume in FY2020 due to the unforeseen COVID-19 pandemic. Demand from major end-use industries like automotive, oil & gas, and other waned. Contrary to this, sections of medical sector were not affected due to increase in demand amid the adoption of COVID-19 precautionary measures.
Demand for alternating current (AC) electric motors has been steadily increasing. This can be attributed to operating advantage linked with it, its prime advantage is its speed torque characteristics which has raised the application for electric motors in various end uses, owing to which the AC electric motors has secured a prominent share in the global Electric motors market.
The growing requirement for pumping application from agriculture, water treatment plants, oil & gas sector and other industries is expected to drive the electric motors market in the forecast period.
Increasing number of players are focusing on research and development related to electric motors, which is anticipated to contribute towards market growth in the years to come.
“The electric Motors market is anticipated to grow at a strong pace driven largely by increasing demand for innovative and energy-efficient products across industries. Raising automation and digitalization in various end-use sectors are key factors fuelling the demand for electric motors. Industry participants are investing in expansions, strategic alliances, and cost effective solutions to gain a competitive advantage,” says a Future Market Insights analyst.
The electric motors market is highly competitive with more than 1,000+ players consisting of tier-1, tier-2 and local based vendors across the region, key players accounting for around 20-30% of the market share. These players are likely to invest in new technology developments and expansion of their distribution networks in order to maintain their market presence.
Some of the key players in this industry include but are not limited to General Electric, Robert Bosch GmbH, Hitachi, Ltd., Nidec Corporation, WEG S.A., Siemens AG, ABB Group, Regal Beloit Corporation, Toshiba Corporation, Johnson Electric, Hyosung Corporation, Schneider Electric SE, Bonfiglioli Riduttori S.p.A., Kirloskar Electric Company Ltd., Allied Motion Technologies Inc., East West Manufacturing, LLC, Hyundai Electric Co. Ltd.
The research report analyzes demand for Electric Motors. The global Electric motors market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of power output, product type, application, end use and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-2404
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa |
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, South Africa and North Africa |
| Key Segments Covered | By Power Output, By Product Type, By Application, End Use and Region |
| Key Companies Profiled | General Electric Robert Bosch GmbH Hitachi, Ltd. Nidec Corporation WEG S.A. Siemens AG ABB Group Regal Beloit Corporation Toshiba Corporation Johnson Electric Hyosung Corporation Schneider Electric SE Bonfiglioli Riduttori S.p.A. Kirloskar Electric Company Ltd. Allied Motion Technologies Inc. East West Manufacturing, LLC Hyundai Electric Co. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The post Electric Motors Market: Electrification in Automotive Vehicles to Spearhead Growth first appeared on Market Research Blog.
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