Electrification of vehicles and replacement of energy-inefficient motors strengthen growth opportunities, finds Frost & Sullivan's Mechanical Power Transmission team
SANTA CLARA, California, June 23, 2017 /PRNewswire/ -- The global electric motors market is transforming, augmented by increasing electrification of applications across industries, energy-efficiency enhancement in existing applications, and demand for higher-efficiency motors such as brushless direct current (DC) motors. Successful companies will be those that have the ability to provide integrated systems and develop close customer relationships.
Global Electric Motors Market, Outlook 2017, part of Frost & Sullivan's Mechanical Power Transmission Growth Partnership Service program, provides a comprehensive understanding of the electric motor market trends, forecasts and competitive landscape for major players such as ABB, Siemens, Bosch, Nidec Corporation, Johnson Electric, and Denso Corporation. Technologies such as alternating current (AC) motor, DC motor, brushless motor, servo, and stepper motor are analyzed and discussed. End-user industries, including process industries; discrete industries; automobiles; home appliances; heating, ventilation and air conditioning (HVAC); toys; medical devices; business equipment; and electronic gadgets, are assessed.
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"Electric motor manufacturers must look toward research and development to improve product efficiency and identify replacement opportunities in existing low-efficiency installations," said Frost & Sullivan Mechanical Power Transmission Research Analyst Krishna Raman. "Developing electric motors for emerging automobile applications such as electrical powered steering (EPS) and anti-locking brake systems (ABS) will act as a differentiating factor."
End-user market trends driving growth in the global electric motor market include:
"The cost of electricity is increasing due to the growing share of renewable energy, which is expensive compared to traditional electricity sources," noted Raman. "End users are adopting energy-efficient, brushless, synchronous motor technology to conserve energy, reduce maintenance costs, and increase the efficiency of the overall drive system."
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Global Electric Motors Market, Outlook 2017
K18A-17
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