Electric Motor Sales Market Changing a Dynamics of Industry till 2021
The electric motor sales market is projected to grow at a CAGR of 6.26% from 2016 to 2021 to reach USD 127.63 Billion by 2021. Increasing demand for power utilities and automobile production along with the rise in commercial and residential infrastructure growth, especially in the developing economies, are the major factors for driving the market.
Electric motors are widely used in all the sectors and the global production of electric motors are drastically increased in recent years due to increase in the utilization of motors for maximum output from the major sectors such as industrial, agriculture, residential, commercial, and transportation. The market is classified by type into AC and DC motors. AC motors are the fastest growing segment in the market. With increasing applications in end-user industries such as, transportation, chemicals, and many others, the AC motors segment is expected to dominate the market till 2021.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the timing relay market. These include Siemens (Germany), ABB (Switzerland), General Electric (US), Schneider Electric (France), Eaton (Ireland), and Rockwell Automation (US).
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Scope of the Report:
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By Timer
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On-delay
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Off-delay
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Others
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By Mounting Type
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Panel Mounted
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DIN Rail Mounted
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Others
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By Function
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Single Function
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Multi-Function
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By End-User
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Utilities
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Industries
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Others
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By Region
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Asia Pacific
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North America
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Europe
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Middle East & Africa
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South America
In this report, the electric motor sales market has been analyzed with respect to the following regions, namely, Asia-Pacific, North America, South America, Europe, and the Middle East & Africa. Asia-Pacific is currently the largest market for electric motors, and it is projected to grow at the highest CAGR during the forecast period. China accounted for the majority share in Asia-Pacific in 2016. In Asia-Pacific, the growth of the market can be attributed to factors such as buoyant growth in the agriculture sectors, massive investments in industrialization, and upgrading and replacing aging infrastructure. These factors are driving the market in this region. The figure given below shows the regional scenario of the market from 2016 to 2021.
The panel mounted segment accounts for the largest share of the timing relay market, by mounting type, during the forecast period.
The panel mounted segment is expected to be the largest market, by mounting type, from 2017 to 2022. Panel mounted timing relays are designed to be easily mounted on flat panels or heat sinks with screws. Panel mounting is the most preferred mounting type as timing relays can be plugged into a socket or can be mounted on a panel. All these factors are expected to drive the panel mounted segment of the timing relay market.
Heavy electric motors are majorly used in electric vehicles, elevator & hoists, steel rolling mills, machine tools, and all other heavy industrial activities; however, these are not easily portable. This has proved to be a restraining factor for heavy motors. But this factor can be overcome by improving the standards of transportation of heavy motors which in turn can improve the revenue sales of these electric motors.
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