The Business Research Company’s Electric Motors Global Market Report. The report covers market size, key players, market share and trends.
Electric Motors Global Market Report 2020 is one of a series of new reports from The Business Research Company that provide Electric Motors market overviews, analyze and forecast market size and growth for the whole market, Electric Motors market segments and geographies, Electric Motors market trends, Electric Motors market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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The electric motor manufacturing market consists of sales of electric motors. A motor converts electrical energy into mechanical energy and supplies power to devices. The motor manufacturing market is segmented into AC motor and DC motor. 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.
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The global electric motor manufacturing market was worth $106.9 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.57% and reach $143.2 billion by 2023
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