Efficient Cars with Efficient Electric Motors
8 Oct
2014
Allied Market Research publishes a report titled “Global Electric Motors Market (Motor Types, Output power, Applications and Geography) - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020.” As per the report, the market would attain a market value of 129 billion by 2020 growing at a CAGR of 5% during 2014 - 2020. The growth of the market can be credited to premium motors that consume less power and innovative designs.
Manufacturers are applying rapid prototyping process to manufacture motors that would fuel the market growth rate. Initial cost of premium motors is high; however, it increases the efficiency almost by 20% in the long run. Rising production of automobiles, electric motor and home appliances, rising electrical consumption are further boosting the market growth. Further, innovative technologies used by the manufacturers to produce electric motors are helping the market to grow.
Automobile segment generates maximum revenue of about 52% for the market. Innovative technologies by companies such as Tesla, Nissan, Chevrolet and Ford are having a positive effect on the market. Environment friendly policies of various governments for promoting electric motors in green vehicles are also fuelling the market growth.
Asia Pacific leads the overall market due to cheap labour and larger end product consumption. Latin America, Middle East & Africa also have great prospects for the market growth due to introduction of new hybrid cars, awareness regarding clean environment, and rising demand for efficient electric motors. Al-Quraishi Electrical Services and TECO Electric and Machinery Co. Ltd. Have partnered to launch medium and high voltage electric motors in the Middle East region in the year 2012.
The companies listed in the report are Siemens AG, Ametek, Incorporation, Baldor Electric Incorporation Allied Motion Technologies, Asmo Corporation Limited, ARC Systems Incorporation, Franklin Electric Cooperative Incorporation, Brook Crompton UK Limited, Rockwell Automation Incorporation and Johnson Electric Holdings Limited.
Ranjan Singh
Research Analyst at Allied Market Research
Ranjan has over 4 years of experience in market research and consulting across multiple domains which include technology, FMCG and durable consumer goods, heavy machinery, and automotive. He has hands on expertise in predictive and exploratory research projects for studying regional and global demand potential, market estimation & forecast, perceptions; analyzing macro and micro markets in terms of key gaps and opportunities. Ranjan is part of multiple consulting as well as syndicated report assignments and is actively involved in all the stages of project completion from planning, execution to delivery as per clients’ satisfaction.
Avenue: Entire Library membership of Allied Market Research Reports at your disposal
- Avenue is an innovative subscription-based online report database.
- Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
- A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
- Request customizations, suggest new reports, and avail analyst support as per your requirements.
- Get an access to the library of reports at any time from any device and anywhere.
Related Post
Share on Social Media
-
Increasing Popularity of Green Power Paves The Way For Eco-Friendly Future
-
Explore the Promising Nature of Wave Energy- Its Potential is Boundless Indeed
-
Advancements And Future Of The Uninterrupted Power Supply Systems
-
Smart Energy to Hold a Great Potential to Promote an Ecofriendly World
-
Electronic Shelf Labels to Endure the Trend of Technological Revolution with Its Numerous Paybacks
-
Acquisitions, going public, and new products to raise the bar for residential real estate
-
Manufactured Housing Is Becoming Increasingly Popular among Home Owners