According to the latest report published by Variant Market Research, the global electric motor market size was valued at $105 billion in 2016, and is estimated to reach $173 billion by 2024. In this report, the global electric motor market forecast says that the global market is growing at a CAGR of 5.7% from 2016 to 2024.

Click Here to Request a Free Sample PDF of This Report @ https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/electric-motor-market/sample-request

Increase adoption of electric vehicles globally fuels the global electric motor market

The global electric market trends such as increase adoption of electric vehicles, and rising automobile productions globally boosts the market growth. Besides, rising implementation of electronic motors, induction motors and replacing gas turbines in industrial plants have also supported the automotive electric motor market. However, shortage of raw material and fluctuation in the price of electronics in emerging economies may act as the restraining factors for the electric motor market growth. Moreover, rapid urbanization and commercialization along with several on-going construction projects of metro rails and mega cities in developing countries like India and Saudi Arabia is expected to generate numerous growth opportunities in the forthcoming years.

Market Segmentation
The global electric motor market has been classified on the basis of type, output power, application, and geography. The type segment is bifurcated into hermetic motor, DC motor, and AC motor. Output power segment includes IHP, and FHP. On the basis of application, the segmentation is given as machinery, aerospace, commercial, HVAC equipment, motor vehicle, and household appliances.

Geographically, the market has been bifurcated into North America, Europe, Asia-Pacific, and RoW. North America (U.S., Mexico, and Canada), Europe (Germany, Spain, France, UK, and Rest of Europe), Asia-Pacific (Japan, Taiwan, China, India, South Korea, Australia, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.

Get Table of Content (TOC) @ https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/electric-motor-market/toc

AC motor would dominate the type segment with leading market share in 2016
AC motor accounted for the majority of share in 2016, in the type segment, owing to the growing demand for AC motors in various industries such as cement, paper & pulp, chemicals, and wastewater treatment. Also, it is expected to achieve the fastest CAGR during the forecast period 2016 – 2024.
FHP, by output power, conquered the largest share in the global market
In 2016, FHP held for the largest market share in the output power segment, driven by its usage in low-power applications and household appliances ranging from coffee machines, vacuum cleaners to refrigerators.

In 2016, motor vehicles led the application segment with major market share
Motor vehicles held for the highest market share in 2016, in the application segment, driven by the robust demand for hybrid and electric vehicles.

Asia-Pacific is likely to grow with fastest CAGR in the global electric motor market

Asia Pacific is expected to achieve the fastest CAGR in the global market during the forecast period 2016 – 2024, driven by increasing construction of mega cities & metro railways, and growth in urbanization. Also, Asia-Pacific dominated the highest share of the market trailed by Europe in the year 2016. Furthermore, countries like Zimbabwe, Ethiopia, Romania, Australia, and South Africa are witnessing a significant demand in the global electric market.

To browse the complete report, visit @ https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/electric-motor-market

Competitive Landscape
The key market players in the market are Denso Corporation, Schneider Electric SE, Siemens AG, Baldor Electric Company, Bosch Group, Kirloskar Electric Company, Rockwell Automation, General Electric Company Toshiba International Corporation, and ABB Ltd. among others.

Scope of Electric Motor Market
Output Power Segments
• FHP
• IHP

Type Segments
• AC Motor
• DC Motor
• Hermetic Motor

Application Segments
• Motor Vehicle
• HVAC Equipment
• Machinery
• Household Appliances
• Aerospace
• Commercial

Geography Segments
• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o United Kingdom
o Spain
o Others

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

Related Topics
1. India Lithium-Ion Battery Market is estimated to reach $5,022 Million by 2024, Says Variant Market Research
2. Global Industrial Robotics Market is estimated to reach $77.7 Billion by 2024, Says Variant Market Research
3. Global Atomic Layer Deposition (ALD) Equipment Market is estimated to reach $8,059 million by 2024, Says Variant Market Research

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy &Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
For further information, visit https://www.variantmarketresearch.com
You can connect with us on LinkedIn here @ https://www.linkedin.com/company/variant- market-research

Contact US:
John Dave,
Head - Sales
Variant Market Research
649 Mission St, 5th Floor, San Francisco, CA 94105, United States.
Tel: +1-415-680-2785
Fax: +1-415-680-2786
Email: [email protected]
Email: [email protected]