Global Electric Motor Market Share, Size, Growth Trends And Research Report 2018-2023

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   Global Electric Motor Market Propelled by
Technological Advancements
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Report Description
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Report Description and Highlights
Report Description
   Global Electric Motor Market Propelled by
Technological Advancements The expansion of the
global electric motor market is influenced by
various factors like mounting urbanisation and
industrialisation, worldwide availability of
electricity, low maintenance and consistent
technological advancements. Electric motor is an
equipment that transforms the electric energy
into mechanical energy. They work on the
principle of electromagnetic induction as per
which a current induced conductor undergoes force
in the presence of magnetic field. On the basis
of requirement of the voltage, electric motors
can be classified as low, medium and high voltage
electric motors. A new research report by IMARC
Group, titled Electric Motor Market Global
Industry Trends, Share, Size, Growth, Opportunity
and Forecast 2018-2023, estimates that the
market was more than US 93 Billion in 2017. The
report further anticipates the global electric
motor market to approximately US 123 Billion by
2023, at a projected CAGR of nearly 5 over the
forecast period.
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Report Description and Highlights
Report Description

• Market Drivers/Constraints
• Some of the major factors for the growth of the
  electric motor market are rising urbanisation and
  industrialisation rates, technological
  advancements and worldwide availability of
  electricity. Moreover, the installation cost of
  an electric motor is comparatively lower than
  their counterparts like fossil-fuel engines.
• In addition, numerous industries are shifting
  towards automation as it is highly efficient,
  accelerates productivity as well as enhances
  quality and flexibility. As automation requires
  the use of electric motor, it has highly
  contributed to its global demand.
• Further, electric motors have several
  applications in different industries. The
  benefits, such as longevity, low energy
  requirement, less maintenance expenditure and
  high tolerance to varying voltages have led to
  the growth in the demand for electric motors.
• However, there are several factors that hamper
  the market growth. For instance, many heavy
  electric motors are not portable.
• Read full report_at_ https//www.imarcgroup.com/elec
  tric-motor-manufacturing-plant

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Report Description and Highlights
Report Description
Efficiency Insights On the basis of efficiency,
the electric motor market is segmented as
standard efficiency, high efficiency, premium
efficiency and super premium efficiency. The
standard efficiency electric motor enjoys the
dominant share in the electric motor
market. Application Insights Pumps and fans
represents the largest application segment
accounting for the majority of the total global
consumption. Pumps and fans is followed by
compressors and others. End-Use Insights Based
on end-use, commercial HVAC industry represents
the biggest market for electric motors. It is
followed by the food, beverage and tobacco
industry, mining industry and utilities. Regional
Insights On a geographical front, Asia-Pacific
represents the leading market for electric motors
accounting for the majority of the total global
consumption volume. Asia-Pacific is followed by
North America, Western Europe, Eastern Europe,
Central South America, and Africa and Middle
East. Request Sample Of The Report
https//www.imarcgroup.com/request?typereportid
596flagB  
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Report Description and Highlights
Report Description

• Competitive Landscape
• The electric motor market is fragmented with the
  presence of numerous small and large
  manufacturers who compete in terms of prices and
  quality. There is an intense competition in the
  market which makes it difficult for new players
  to enter. Some of the leading players operating
  in the market are
• ABB Group
• Siemens AG
• WEG SA
• Nidec Corporation
• TECO Middle East
•  
• Browse more related reports
•  Saudi Arabia Electric Motor Market
  https//www.imarcgroup.com/saudi-arabia-electric-m
  otor-market  GCC Electric Motor Market
  https//www.imarcgroup.com/gcc-electric-motor-mark
  et

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Report Description and Highlights
Report Description

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