Electric Motor Sales Market Worth $155.3 Billion By 2025 Electric Motor Sales Market | Page 2

Improving standards of living and rising income levels are also anticipated to spur the
production of motor vehicles and electronic appliances, globally. Additionally, the use of
electric motors minimizes financial burden on governments and consumers by reducing
the consumption of electricity. Owing to the aforementioned factors, these motors are
estimated to witness a huge demand, mainly from industrial users, in the replacement
market over the next few years.
The industry is characterized by regulatory policies and government initiatives that
promote energy efficiency in machines and equipment. High-efficiency & output, low
power consumption, increased operational life, and low maintenance costs are the
benchmarks for electric motors, among customers. Technological innovations have
introduced improved design, components, and product specifications for meeting end-
user requirements. Innovations and evolving policy frameworks are crucial for industry
development, and will play a key role in driving demand over the forecast period.
Further key findings from the report suggest:
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The global electric market was valued at over USD 70 billion in 2015 and is
expected to grow at a CAGR of 4.2% from 2017 to 2025, owing to rising
automation, increase in motor-driven household appliances, increase in
automobile production, growing agricultural sector, and transition toward energy-
efficient motors
The AC motor type was the largest segment in 2016 and is estimated to generate
over USD 70 billion by 2025, owing to its extensive use across application areas
such as irrigation pumps and robotics
Fractional horsepower motors are widely used in household appliances such as
vacuum cleaners, coffee machines, and refrigerators; however, integral
horsepower motors are anticipated to witness fastest growth over the coming years
The motor vehicles segment was valued over USD 30 billion in 2016 and is
estimated to dominated the market, owing to increase in electric vehicle production
across the globe
The Asia Pacific region is projected to witness the highest as well as the fastest
growth over the forecast period, owing to the increasing production and sales of
electric vehicles
The key players, including Allied Motion Technologies, Inc., Ametek, Inc.,
Siemens, Baldor Electric Company, Inc., Johnson Electric Holdings Ltd., Rockwell
Automation, Franklin Electric Co., and Asmo Co., Ltd., dominated the global
electric motor sales market in 2016
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