Electric Motors Market: APEJ Expected to Remain a High-Volume High-Value Market During the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)
- REP-GB-2404
- 2017-10-17
- 363 Pages
- Format:
- Category: Industrial Automation & Equipment
Electric motors is a machine that converts electrical energy into mechanical energy. The machine that converts mechanical to electrical energy and vice versa is known as a generator. Electric motors are classified into two types typically AC motors and DC motors. These motors are used in industrial, residential, commercial and other (transportation, agriculture) end-use sectors for various applications. The global electric motors market was valued at around US$ 88.6 Bn in 2016, and is expected to register a CAGR of 4.7% over the forecast period (2017–2027).
Factors influencing global electric motors market growth
Manufacturing techniques have transformed significantly over the past century. In comparison to skilled labour, machines have emerged as a more efficient method of performing complex tasks and the scenario has further changed completely after the inclusion of robotic technologies in manufacturing. The ongoing technological advancements in manufacturing techniques and demand for cost competiveness and increased productivity has made automation an inevitable part of modern industries. The increased automation and robotics in the manufacturing sector is expected to emerge as a key factor fuelling market growth.
Furthermore, with the rising consumer awareness to conserve energy coupled with government regulations focussed on minimising energy consumption has resulted in high demand for energy efficient products. Stringent regulations will compel industries to replace existing motors and use motors with high efficiency, which in turn will drive market growth. Also, with rapid urbanisation across countries, there has been an increase in demand for HVAC systems from commercial as well domestic sectors. The demand for heating systems in colder regions has also been increasing. These systems provide comfort to people in colder regions as well as maintain the economy of scale utilising limited energy. Demand for such HVAC systems is anticipated to create significant opportunities in the electric motors market over the forecast period.
Global Electric Motors Market Analysis by Region
From a regional perspective, the electric motors market in APEJ region is anticipated to dominate the global market in terms of volume and value demand. The region is also expected to remain the fastest growing in terms of CAGR growth over the forecast period. The market in the APEJ region will significantly be driven by demand from developing nations such as India and China. APEJ countries such as China and India are establishing more number of manufacturing firms to cater to domestic demand which will impact the growth of electrical motors. The growth of the region will be supplemented by the positive macro-economic environment coupled with a robust growth of the industrial sector. The market in APEJ was valued at US$ 34.3 Bn in 2016, and is estimated to reach US$ 35.8 Bn by the end of 2017. APEJ is expected to create an incremental $ opportunity of US$ 25.0 Bn during the forecast period and is projected to reach a market valuation of US$ 60.8 Bn by the end of the forecast period in 2027.
North America is anticipated to be the next big regional market for electric motors, accounting for a value share of 21.0% by end of the forecast period in 2027. Incremental $ opportunity generated by the North America regional market is expected to be 4.8X of the incremental opportunity generated by the Latin America electric motors market. Japan is expected to witness a steady increase in the incremental $ opportunity created during the forecast period.
Future Market Insights (FMI) analyses the global electric motors market in its new publication titled “Electric Motors Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027).” The main objective of the report is to identify dynamics in the market and provide recent updates and insights pertaining to various segments of the global electric motors market. To provide better understanding of the market, the report also includes analysis of drivers, restraints, and trends that influence the current market scenario and are expected to impact the global electric motors market over the forecast period.
Market Segmentation
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Report Description
To understand and assess market opportunities and trends, the global electric motors market report is categorically split into different sections based on power output, product type, application, end use and region. The report starts with the global macro-economic environment covering the factors influencing market growth. The report also covers market overview and provides market definition and taxonomy along with value chain, drivers, restraints, and trends in the market. The sections that follow include global electric motors market analysis – by power output, product type, application, end use and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global electric motors market. To give a brief idea about revenue opportunities from the power output, product type, application, end use and regions / country-wise segments, the report provides market value (US$ Mn) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2017-2027). In the subsequent section, market analysis on a regional basis is provided, including a detailed analysis of macro-economic factors at the regional level. Regional drivers, restraints and trends are provided to ensure a holistic picture of the regional market.
In the final section of the report, we have provided a detailed competition landscape with company market share and performance, in order to provide report audiences with a dashboard view of key players operating in the global electric motors market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
Research Methodology
For market data analysis, we have considered 2016 as the base year, with market numbers estimated for 2017 and forecasts made for 2017–2027. The report considers the market size of the electric motors market at a global and regional level. To estimate market size, the prime methodology considered is utilising regional electricity consumption to understand consumption by electric motors and thereafter calculating number of motors utilising load efficiency and operational hour assumptions. The estimation made is then further triangulated. The forecast assesses the total revenue (US$ Mn) of the global electric motors market. In order to provide an accurate forecast, we have started by sizing up the historical market size i.e. 2012–2016 after which we evaluate the current market, which forms the basis of how the global electric motors market is expected to develop in the future. The critical market data, including the base number and segment splits, has been devised through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers, distributors and suppliers, and industry experts operating in the global electric motors market.
We have also analysed the different segments of the global electric motors market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global electric motors market. The report also analyses the global electric motors market based on absolute dollar opportunity, essential to identify potential market resources. Moreover, FMI has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global electric motors market. This market attractiveness index would help clients identify real market opportunities in the global electric motors market.