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Electric Motors Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
The Business Research Company’s Electric Motors Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, August 8, 2022 /EINPresswire.com/ -- As per The Business Research Company's "Electric Motors Global Market Report 2022”, the electric motors market is expected to grow from $91.86 billion in 2021 to $93.82 billion in 2022 at a compound annual growth rate (CAGR) of 2.1%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electric motor manufacturing market is expected to reach $93.85 billion in 2026 at a CAGR of 0.01%. Increased tariffs on raw materials such as steel and aluminum will restrain the market for motor manufacturing in the forecast period.
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Key Trends In The Electric Motors Market Motor manufacturing companies are increasingly manufacturing IoT enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behaviour and sends an alert upon detecting any deviation from normal behaviour. Smart motors offer several benefits such as increased lifespan of equipment, and improved safety.
Overview Of The Electric Motors Market The electric motor manufacturing market consists of sales of electric motors. A motor converts electrical energy into mechanical energy and supplies power to devices. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance. These include components such as rotor, bearings, stator, air gap, windings, and commutator. Devices that use electric motors consist of fans, blowers, household appliances, disk drives, batteries and power tools, machine tools, domestic appliances, HVAC applications, electric cars, and automated robots.
Learn more on the global electric motors market report at: https://www.thebusinessresearchcompany.com/report/electric-motors-global-market-report
Electric Motors Global Market Report 2022 from TBRC covers the following information: Market Size Data • Forecast period: Historical and Future • By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa. • By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. Market Segmentation • By Type: Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor • By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP) • By Voltage Range: 9 V and Below, 10-20 V, 21-60 V, 60 V and Above • By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace and Transportation, Household Appliances, Other Commercial Applications • By Speed: Low-Speed (less than 1,000 rpm), Medium-Speed (1,001 to 25,000 rpm), High-Speed (25,001 to 75,000 rpm), Ultra-High Speed (greater than 75,001 rpm) • By Geography: The global electric motors market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific holds the largest share in the market.
Major market players such as ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc., and Baldor Electric Company, Inc. Trends, opportunities, strategies and so much more.
Electric Motors Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of electric motors market. The market report gives electric motors industry growth analysis, electric motors global market size, electric motors global market share, electric motors market growth drivers, electric motors market segmentation, electric motors market major players, electric motors global market growth across geographies, and electric motors market competitors’ revenues and market positioning. The electric motors market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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About The Business Research Company The Business Research Company has published over 3000 industry reports, covering over 3000 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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