Press Release / Environment / Electric Motors Market Top Manufacturers, Size, Share, Revenue Research Report by 2023

Electric Motors Market Top Manufacturers, Size, Share, Revenue Research Report by 2023

Electric Motors Market Overview: -
The electric motors are used in agricultural equipment. The growth of the agricultural sector and the increase in use of motor operated equipment in the agricultural sector is further expected to drive the demand of the electric motors market. The increase in awareness about the effect of greenhouse gases is also leading to a shift from conventional motors to the electric motors, which is expected to drive the global electric motors market during the forecast period. However, the growth of this Electric Motors Market is expected to be restrained by the high cost of electric motors and the lack of awareness for use of electric motors.
Electric motors are the devices that work on the electro-magnetic induction principle by ensuring conversion of electrical energy into mechanical energy. Electric motors are widely used in HVAC applications, compressors, machine tools, pumps, domestic appliances, industrial fans, lathe machines, electric cars, disk drives, power tools, and automated robots. These high-efficiency motors gain importance over standard motors due to longer operating life, low energy consumption, low maintenance, and high endurance for fluctuating voltages, and others.
 
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Leading Key Players:-

Emerson Electric Co
Hitachi, Ltd.
Johnson Electric Holdings Limited
Rockwell Automation
WEG S.A.
ARC Systems, Inc.
Toshiba International Corporation
ABB Ltd.
Siemens AG
General Electric Company
Nidec Corporation
Denso Corporation
Allied Motion Technologies, Inc
Ametek, Inc
Robert Bosch GmbH

 
Asia-Pacific accounts for the highest market share.
Asia-Pacific region is expected to dominate the Electric motors market, and is projected to grow at the highest CAGR. The growth of the Electric motors market in Asia-Pacific region is attributed to the rapid growth in the agricultural sector. The rapid industrialization and the intense setting up of manufacturing industries which require the use of electric motors of various capacity is expected to drive the market of the electric motors in the region.
Scope of the Report:-
The scope of the study segments the Global Electric motors market by its type, output power, application and region.
By Application

HVAC
Motor vehicles
Industrial machinery
Household appliances
Others

 
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By Region

North America 
Asia Pacific 
Europe

 
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