electric motor industry market report 2019
08 May
Press Release

According to the global electric motor market report by IMARC Group, the market reached a value of nearly US$ 125 Billion in 2018. The report further anticipates the market to reach a value of US$ 162 Billion by 2024, at a projected CAGR of 4.35% during 2019-2024.

For more information about this report visit: https://www.imarcgroup.com/electric-motor-market

Electric motors refer to mechanical devices which work on the basic principle of electromagnetism. Over the years, these motors have gained traction due to their growing usage in a number of applications ranging from hair dryers, toys, electric shavers and extractor fans to washing machines, dishwashers, coffee grinders, microwaves and electric can openers.

Global Electric Motor Market Drivers/Constraints:

  • Electric vehicles are environment-friendly since they do not emit toxic gases or smoke into the environment and also minimise energy consumption. As a result, there is a rise in the demand for hybrid and electric vehicles which, in turn, is further elevating the growth of the electric motor market globally.
  • The various government initiatives and regulatory policies aimed to promote energy efficiency and reduce carbon emissions in various industrial verticals are bolstering the demand for high-efficiency motors.
  • Some of the other factors contributing to the growth of the global electric motor market are rapid advancements in technology, increasing automation and rapid industrialisation.
  • The high cost of manufacturing and assembling efficient electric motors and the limited portability of large motors hinder the market growth. Moreover, the intense competition in the market also acts as a major deterrent.

Request For Free Sample Pdf Copy @ https://www.imarcgroup.com/electric-motor-market/requestsample

Electric Motor Market Segmentation

Market Performance by Voltage

1. Low Voltage Electric Motors
2. Medium Voltage Electric Motors
3. High Voltage Electric Motors

Market Performance by Rated Power

1. Fractional Horsepower Motors
2. Integral Horsepower Motors

Market Performance by Fractional Horsepower

1. Fractional Horsepower (< 1/8) Motors
2. Fractional Horsepower (1/8 – 1/2) Motors
3. Fractional Horsepower (1/2 – 1) Motors

Market Performance by Integral Horsepower

1. Integral Horsepower (1 – 5) Motors
2. Integral Horsepower (10 – 50) Motors
3. Integral Horsepower (50 – 100) Motors
4. Integral Horsepower (>100) Motors

Market Performance by Magnet Type

1. Ferrite
2. Neodymium (NdFeB)
3. Samarium Cobalt (SmCo5 and Sm2Co17)

Market Performance by Region

1. Asia-Pacific
2. North America
3. Europe
4. Middle East and Africa
5. Latin America

Market Performance by Weight

1. Low Weight Motors
2. Medium Weight Motors
3. High Weight Motors

Market Performance by Speed

1. Ultra-High-Speed Motors
2. High-Speed Motors
3. Medium Speed Motors
4. Low Speed Motors

Market Performance by Applications

1. Industrial Machinery
3. Transportation
4. Household Appliances
5. Motor Vehicles
6. Aerospace
7. Marine
8. Robotics
9. Others

Do You Have Any Query or Specific Requirement? Ask to Our Industry Expert https://www.imarcgroup.com/request?type=report&id=937&flag=C

Some of the major players operating in the industry include:

  • ABB Group (NYSE: ABB)
  • Siemens Ag (OTCMKTS: SIEGY)
  • WEG SA
  • TECO
  • Regal Beloit Corporation
  • Nidec Corporation

Contact US: IMARC Group
309 2nd St, Brooklyn, NY 11215, USA
Website: www.imarcgroup.com
Email: [email protected]
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group

This post was originally published on Stock Markets News

[email protected]

IMARC Group is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.