Press Releases
 
Global Electric Motor Market to Reach a Volume of 982 Million Units by 2023

united states, 6 July 2018 -- The global electric motor market has witnessed an exponential growth over the past several years on account of technological advancements along with improving standards of living and escalating disposable incomes of the consumers.

Electric motors refer to mechanical devices which work on the basic principle of electromagnetism. Over the years, these motors have gained traction due to their growing usage in a number of applications ranging from hair dryers, toys, electric shavers and extractor fans to washing machines, dishwashers, coffee grinders, microwaves and electric can openers. A new research report by IMARC Group, titled “Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global electric motor market reached a volume of around 546 Million Units in 2017. The report further anticipates the market to reach a volume of 982 Million Units by 2023, at a projected CAGR of more than 10% during 2018-2023.

Request a free sample report: https://www.imarcgroup.com/request?type=report&id=937&flag=B

Global Electric Motor Market Drivers/Constraints:

Electric vehicles are environment friendly since they do not emit toxic gases or smoke into the environment and also minimise energy consumption. As a result, there is a rise in the demand for hybrid and electric vehicles which, in turn, is further elevating the growth of the electric motor market globally.

The various government initiatives and regulatory policies aimed to promote energy efficiency and reduce carbon emissions in various industrial verticals are bolstering the demand for high-efficiency motors.

Some of the other factors contributing to the growth of the global electric motor market are rapid advancements in technology, increasing automation and rapid industrialisation.

The high cost of manufacturing and assembling efficient electric motors and the limited portability of large motors hinder the market growth. Moreover, the intense competition in the market also acts as a major deterrent.

Motor Type Insights:

On the basis of motor type, the market has been segmented into AC and DC motors. The AC motors segment is further categorised into induction and synchronous AC motors, whereas the DC motors segment is segregated into brushed and brushless DC motors. Currently, AC motors are the most popular motor type, accounting for the majority of the global share.

Voltage Insights:

Based on voltage, low voltage electric motors dominate the market as these motors consume less energy and are highly efficient. Low voltage electric motors are followed by medium and high voltage electric motors.

Source: https://www.imarcgroup.com/global-electric-motor-market

# # #


Media Contacts:
IMARC Group
USA: +1-631-791-1145
Email:
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal

Image Attached Image Attached Download file at: https://www.imarcgroup.com/files/images/global-electric-motor-market-news-2018.png
(Right click and save file to download.)

Document Attached Image Attached Download file at: https://www.imarcgroup.com/global-electric-motor-market
(Right click and save file to download.)

Submitted by Imarc Group, IMARC Group on Friday, 6 July 2018 at 4:41 PM
Category: Consumer Technology
 
Related News

Sterility Testing Market: Key Trends with Market size, Industry Share, Market players and Forecast t
Thursday, 20 Sep 2018

WinX DVD Ripper Platinum 8.8.1 Embraces New iPhone Xs (Max) iPhone XR Release
Thursday, 20 Sep 2018

5 Ways to Earn Up to 80% off runescape07 gold legally for Making Friends with My Arm Sep.21
Thursday, 20 Sep 2018

Telco Digital AI Assistants & Chatbots Market Outlook Report 2018
Tuesday, 18 Sep 2018

The Mac Data Recovery Milwaukee Offer Best Services in Affordable Price
Tuesday, 18 Sep 2018

Related Events

Concealed Carry Permit Class at Bass Pro Shops - Harrisburg
Friday, 21 Sep 2018

Concealed Carry Permit Class at Cabela's (MN, UT and AZ Permits) - Rogers
Saturday, 22 Sep 2018

Concealed Carry Permit Class at Cabela's (MI, AZ, FL, VA Permits) - Saginaw
Sunday, 23 Sep 2018

Virtual Ultimate Test Drive - Next Generation Firewall - Sep 24, 2018
Monday, 24 Sep 2018

SPE Workshop: How Stimulation Affects Today's Reservoir Management
Wednesday, 3 Oct 2018

Latest News

Cutri & Co Barber Shop: The Impressive Men’s Styling Station in Brookvale
Thursday, 20 Sep 2018

Lipid Panel Test Market Share, Trend, Segmentation and Forecast to 2023
Thursday, 20 Sep 2018

ABCTO To 88 – Best Space To Play Agen Togel
Thursday, 20 Sep 2018

Incline Health: The Best Chiropractic Leichhardt Clinic Gives Ultimate Pain Solution
Thursday, 20 Sep 2018

Cosmetic Surgery Products Market is Poised to Expand at a Robust Pace Over 2019
Thursday, 20 Sep 2018

 
Want to get your press releases, event listings, and job ads on Scoopasia? Register now for a FREE account or login if you already have one!
Scoopasia v1.0b. Copyright © 2018
Today is Friday, 21 September 2018

About Scoopasia | FAQ | Privacy Policy | Contact Us

Press Releases
Event Listings
Job Listings
Arts & Entertainment
Architecture & Construction
Automotive & Travel
Business
Consumer Technology
Economy
Education
Enterprise Technology
Food & Fashion
Government & Policy
Health Care & Medical
Legal/Law
News & Media
Religion
Science & Research
Sports & Fitness
Login / Register
Get Scoopasia through RSS Feeds & Email Notifications!


Journalist's Toolbox
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!

  • Scoop Line
    (Instant Information Request)
    The easiest way to ask questions and request information from the PR community.


  • Advanced Search
    Drill down, dig deep, for media information the way you want it.

  • Journalist's Resources
    Resources and tools you can't do without.

  • PR Tools
    Scoopasia Blog Search
    Search the largest handpicked collection of Asia's most prominent and influential blogs.


    Resources
  • PR Bookmarks
  • Web 2.0 Bookmarks
  • Media Bookmarks

    More Coming Soon...

  • Upcoming Events
  • International Symposium Mayo Clinic Model of Care
  • 33rd Annual Congress of the Europ. Assoc. of Cardiothoracic Anaesthesiology
  • Meditate Heal Relax Retreat
  • 3rd Biennial Arthroplasty Disaster International Conference
  • GRIT for Women in Medicine: Growth, Resilience, Inspiration, and Tenacity

  • Latest Jobs
    Sorry, there are currently no entries posted here.