As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The global electric motors industry is being driven by the heightened demand for high-efficiency vehicles and machinery. In addition, the growing population and the rising disposable incomes are leading to a rise in demand for passenger vehicles. At the same time, the increased construction activities due to rapid urbanisation have elevated the requirements for high-performance industrial vehicles and equipment. Moreover, the growing implementation of HVAC systems is also expected to aid the market growth. Furthermore, in the pursuit of reducing carbon emissions, the leading automobile manufacturers are developing electric cars, which is expected to spearhead the demand for electric motors.
The growing focus of the leading players, such as General Electric (NYSE: GE), Ametek Inc (NYSE: AME), and others, to develop electric motors by incorporating advanced technological solutions is expected to positively stimulate the industry growth in the forecast period. According to a press release issued by General Electric, dated September 2020, the company announced its plans to research and develop a hybrid-electric propulsion system that runs on carbon-neutral biofuels under two projects ARPA-E’s Aviation-class Synergistically Cooled Electric-motors with iNtegrated Drives (ASCEND) and Range Extenders for Electric Aviation with Low Carbon and High Efficiency (REEACH) programs, which awarded the company with a sum of $4.8 million. This is expected to tap deep research capabilities across associated areas, including electric motors, thermal management, power conversion, and others. Such developments are expected to drive the growth of the electric motors industry in the forecast period.
Market Breakup by Type, Power Output, Application, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global electric motors market are ABB Ltd., Allied Motion Technologies Inc, Ametek Inc, General Electric, Johnson Electric Holdings Limited, Rockwell Automation, Inc., Siemens AG, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.