Vietnam Electric Motor Market is Expected to be Dominated by HVAC Application Segment Until 2028
Increasing investments and
rising power demand are expected to drive the growth of Vietnam Electric Motor
Market during the forecast period of 2024-2028.
According to TechSci Research
report, “Vietnam Electric Motor
Market - By Region, Competition, Forecast &
Opportunities, 2018-2028, the Vietnam Electric
Motor Market is anticipated to register a robust growth during
the forecast period, 2024-2028”, electric motors are electrical devices that
convert electrical energy into mechanical energy. The majority of contemporary
electrical motors function by generating torque, which is applied to the motor
shaft as a result of the interaction between the magnetic field of the motor
and an electric current flowing through a wire winding. These motors are mostly
used in the automotive, agricultural, and industrial sectors. The demand for
motors in the commercial and residential sectors, however, has increased as
urbanization and technology have progressed. Additionally, the motor deployment
industry with the fastest pace of growth is the HVAC sector.
However, when operating,
industrial motors with high power ratings produce a significant amount of
vibration, strain, and heating, which has the potential to have a significant
impact on and lead to the failure of electronic components. Additionally, it is
anticipated that throughout the forecast period, the owners of small and
medium-sized businesses would not be aware of the advantages of smart motors
for a variety of applications.
Recent Development in
Vietnam Electric Motor Market:
In October 2022, in order to collaborate on
projects such as the CIIC (CATL Integrated Intelligent Chassis) skateboard
chassis products, which incorporate integrated battery packs and electric
motors, CATL announced that it has signed a global strategic partnership with
the Vietnamese electric vehicle manufacturer VinFast.
Browse
over XX market data Figures spread through XX
Pages and an in-depth TOC on "Vietnam Electric Motor Market”
Vietnam Electric
Motor Market is segmented into motor type, application, output power, voltage
rating, end-user, and region. Based on motor type, the market is segmented into
alternate current (AC) motor and direct current (DC) motor.
Based on output
power, the market is segmented into integral horsepower (IHP) output and
fractional horsepower (FHP) output. Due
to the increasing usage of electric motors with power ranges up to 1HP for
small scale businesses such as paper & pulp industry, textile mills,
warehouses, and other applications, the fractional horsepower (Up to 1HP)
segment is anticipated to dominate the market. The integral horsepower (Above
1HP) market will get the majority of investments from big businesses.
Based on application,
the market is further segmented into industrial, HVAC, medical equipment,
industrial machinery, home appliances, and others. Owing to the growing
investment in electric cars and the automotive industry's efforts to meet the
carbon emission reduction objectives, it is anticipated that the motor vehicle
segment will continue to lead the way. The need for industrial machinery and
HVAC equipment is driven by rising industrial sector investment and soaring
energy-efficient motor demand.
Based on Voltage
Rating, the market is further segmented into low voltage (up to 690v), medium voltage
(691V - 3300V), and high voltage (above 3300V)). Owing to rising demand from
the residential and commercial sectors for home appliances including vacuum
cleaners, coffee makers, refrigerators, washing machines, etc., the up to 1 kV
category now commands the biggest market share. The industrial and agricultural
sectors will represent the majority of the investment in the 1 kV-6.6 kV
section. Owing to the high-power requirements of the equipment employed,
operations in the industrial and agricultural sectors typically call for large
capacity motors. Additionally, it is necessary to maintain a sufficient flow of
water or coolant to guarantee that the entire industrial setup and agricultural
activities operate well.
Based on end-user,
the market is further segmented into residential, commercial, industrial, and
transportation. As the government of Vietnam focuses on creating
supportive rules and regulations to increase awareness regarding the use of
electric cars in the respective nation, there has been an increase in demand
for electric motors in the transportation sector. The investments in the
transportation sector are being pushed by this trend, which is predicted to
continue for a while.
Major
market players operating in the Vietnam Electric Motor Market are:
- Hanoi
Electromechanical Manufacturing Jsc.
- Hong
Ky Corporation
- Oriental
Motor Asia Pacific Pte. Ltd.
- Mabuchi
Motor Co., Ltd.
- Schaeffler
Vietnam Co., Ltd
- VinFast
LLC
- Hungary
electric motor
- Bonfiglioli
Vietnam Co., Ltd
- BGM
Viet Nam Technology Company Limited
- Dolin
M&E Technology Manufacturing Co., Ltd.
Download Free Sample Report
Customers
can also request for 10% free customization on this report.
“In Vietnam, there has been a
significant rise in the demand for electric motors. The expansion of the
electric motor industry as well as the rise in industrial output are primarily
driven by stringent power consumption rules and a commitment to reducing
greenhouse gas (GHG) emissions,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based India management consulting firm.
“Vietnam Electric Motor
Market By Motor Type (Alternate Current (AC) Motor and Direct Current (DC)
Motor) By Output Power (Integral Horsepower (IHP) Output and Fractional
Horsepower (FHP) Output), By Application (Industrial, HVAC, Medical Equipment,
Industrial Machinery, Home Appliances, and Others), By Voltage Rating (Low
Voltage (Up to 690V), Medium Voltage (691V - 3300V), High Voltage (above
3300V)), By End-User (Residencial, commercial, Industrial, and transportation),
By Region, Competition, Forecast & Opportunities, 2018-2028”, has evaluated the future
growth potential of Vietnam Electric Motor 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 Vietnam Electric Motor Market.
Contact
Techsci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States-
10170
Tel: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com