Global Electric Motors Market is expected to grow at a robust CAGR.
According to TechSci Research report, “Global Electric Motors Market – By Region, Competition, Forecast and Opportunities, 2018-2028”, the Global Electric Motors Market is expected to register robust growth during the forecast period. Increasing awareness of energy efficiency
and environmental sustainability has led to a growing demand for
high-efficiency electric motors. Businesses and industries seek to reduce
energy consumption and operating costs by adopting energy-efficient motors.
With a growing focus on energy efficiency and environmental
sustainability, there is a substantial opportunity for high-efficiency electric
motors. These motors help businesses reduce energy consumption and operating
costs, aligning with global efforts to reduce carbon emissions. Manufacturers
that offer energy-efficient electric motors can capitalize on this trend.
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Based on motor type, the DC Motor segment is expected to dominate the market during the forecast period. Government
policies and regulations that promote energy efficiency and environmental
sustainability often encourage the use of efficient electric motors, including
DC motors. Incentives and standards set by the government can drive the
adoption of energy-efficient DC motors. Advances in DC motor technology, such
as the development of brushless DC (BLDC) motors, have made these motors more
reliable and energy-efficient. BLDC motors, in particular, have found
applications in various industries, and their adoption is likely to continue.
DC motors can be customized to meet specific industrial and commercial needs.
Manufacturers that offer customization services are well-positioned to address
the unique requirements of their customers, thereby gaining a competitive
advantage. Many industries in Global are exploring options to retrofit existing
systems with energy-efficient components, including DC motors. This trend can
create opportunities for companies that specialize in upgrading older equipment
with more efficient motors. Indonesian DC motor manufacturers can explore
export opportunities in regional markets, given their strategic location in
Southeast Asia. Expanding to neighboring countries can be a growth avenue for
the DC motor segment. Energy efficiency, government initiatives, technological
advancements, and customization capabilities are likely to influence the growth
of this segment.
Based on application, the
Industrial segment is projected to dominate the market throughout the forecast
period.
The mining and mineral
processing industry in Global relies on electric motors for equipment such as
crushers, conveyor belts, and pumps. As the demand for minerals and natural
resources continues, the mining industry's need for robust and efficient electric
motors remains strong. Government policies and regulations that promote energy
efficiency and environmental sustainability are important drivers for the
industrial segment. Incentives and standards set by the government encourage
the use of energy-efficient electric motors in various industrial applications.
Infrastructure projects, including construction and transportation, require a
wide range of electric motors for equipment used in these sectors. As Global invests
in infrastructure development, it generates demand for motors used in
construction equipment and transportation systems. Electric motors play a
crucial role in the maritime and shipping industry, powering various systems on
ships and vessels. The International Maritime Organization's (IMO) regulations
on reducing emissions from ships drive the adoption of more efficient electric
motors in this segment. Industrial users place a premium on the reliability and
maintenance requirements of electric motors. Manufacturers that offer motors
with longer lifespans and reduced maintenance needs are positioned favorably in
the industrial market. As industries in Global continue to modernize and
emphasize sustainability, the demand for electric motors tailored to their
specific needs is expected to increase.
Key market players in the Global Electric
Motors Market are:-
- ABB Sakti Industries
- Siemens
- WEG Industries
- Teco Electric & Machinery
- TMEIC Industrial Systems Indonesia
- Menara Sinar Agung
- Dynatech International
- Lautan Luas Tbk
- Bhumi Raya Electric
- Surya Timur Sakti Jaya
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“The
Global Electric Motors
Market in Java is poised to be the dominant force in the
industry. The
Indonesian government's energy efficiency and sustainability initiatives have a
direct impact on the Electric Motors Market in Java. Government policies and
regulations that promote energy-efficient technologies and environmental
sustainability encourage the adoption of efficient electric motors in
industrial and commercial applications.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Global Electric Motors Market Segmented By Motor Type (AC Motor and DC
Motor), By Output Power (Integral Horsepower and Output & Fractional
Horsepower), By Application (Industrial, HVAC, Medical Equipment, Industrial
Machinery, Home Appliances and Others), By Voltage Rating (Low Voltage (Up to
690V), Medium Voltage (691V - 3300V) and High Voltage (Above 3300V)), By
Region, and By Competition, 2018-2028,” has evaluated the
future growth potential of Global Electric
Motors Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Electric Motors Market.
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