Electric motor is one of the biggest advancements in the fields of engineering and technology since the invention of electricity. It is an electro-mechanical device that converts electrical energy to mechanical energy, working on the principles of electromagnetism. During 2014-2018, the global electric motor market grew at a CAGR of around 7%. The market is currently driven by growing penetration of electricity, increasing mechanisation and automation in industrial processes, rising sales of automobiles and technological advancements. This report by Expert Market Research, entitled “Electric Motor Market Report and Forecast 2019-2024”, provides a comprehensive analysis for anyone who plans to foray into the electric motor market.
Historical market trends for the electric motors industry have been provided from 2014-2018 and forecasts have been presented till 2024. On a regional level, the report has segmented the global electric motor market into the following regions – North America, South America, Asia-Pacific, Europe and the Middle East and Africa. Asia Pacific currently represents the largest market accounting for 62% of the total consumption of electric motors followed by North America and Europe. On the basis of product type, the global electric motor market has been segmented as low voltage electric motors, medium voltage electric motors and high voltage electric motors. For each of the electric motor types, the report has provided both historical and future market trends. Additionally, the report has analysed the global electric motor market on the basis of its end use. The industrial sector represented the biggest market followed by the commercial sector.
The value chain analysis of electric motors has also been covered in this report encompassing all the activities in the value chain such as procurement, manufacturing, sales and distribution. Furthermore, the study assesses the market based on Porter’s five forces model, which evaluates the level of competition in the market by analysing factors such as bargaining power of buyers and suppliers, threat from substitutes and new entrants. A thorough evaluation of the competitive landscape of the electric motors industry has also been provided. Some of the key players in this market include ABB, Siemens, WEG Inc., TECO E&M/TECO-Westinghouse, etc.
This report provides an exhaustive insight for setting-up and running an electric motor manufacturing plant. Factors such as land requirement, construction requirement, raw material requirement, labour requirement, machinery requirement, manufacturing process, utility requirement, total capital investment, total operating costs, prices, income projections, expenditure projections, profit margins, net present value, return on investment, payback period, etc. have been comprehensively covered in this report.
The following are the key questions answered by this report:
- What are the market trends for the global electric motor market?
- Which are the biggest markets (regions) for electric motors?
- What are the major types of electric motors? Which are the most popular?
- What are the key application areas for electric motors?
- Who are the key manufacturers in the electric motor market?
- What are the land and construction requirements to start an electric motor manufacturing plant?
- What are the machinery requirements to start an electric motor manufacturing plant?
- How are electric motors priced? What are the profit margins at various stages of the supply chain?
- What is the total capital investment required to start an electric motor manufacturing plant?
- What are the running costs of an electric motor manufacturing plant?
- How much revenue can an electric motor manufacturing plant generate?
In order to prepare this research report, Expert Market Research conducted face to face and telephonic interviews with numerous industry participants in the electric motors industry. They included manufacturers, distributors, end users, consultants, marketing professionals, researchers, etc. Primary research accounted for the bulk of the research efforts, complemented by an extensive secondary research. Secondary sources included annual reports, press releases, books, journals, white papers, newspapers, magazines, government sources and various proprietary databases.
Expert Market Research uses its comprehensive database of macroeconomic and industry specific data to produce its market forecasts. The initial baseline forecast is produced with the most recent market data. After an initial baseline forecast, all future macroeconomic and sector-specific events and assumptions are taken into account to generate the final forecast.