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Innovative Technologies and Growing Awareness Environmental Issues to Propel Growth of Global Electronic Motor Market

Press Release   •   Aug 16, 2017 05:18 EDT

A new report added in the large database of titled, “Global Electronic Motor Report: 2016 Edition,” gives out detailed reports of the international and Chinese electronic motor market. The report offers historic data, forecast, and growth patterns by country, company, and application/type for the aforementioned forecast period of 2016-2021.

The report offers a comprehensive overview of the global electronic motor market keeping focus on China. It also acts as a vital tool for the prominent companies in the market along with the emerging players by offering them data develop important business strategies and bank on the upcoming opportunities in the global electronic motor market. The report also helps the key players in the market to understand the drivers and trends in overall market and to capitalize on the opportunities and devise important business strategies.
The report provides a complete market overview that includes definition, details of manufacturing technology, industrial chain (both downstream and upstream), and price reports with respect to labor costs, raw materials, and depreciation.
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Significant advancements in technology and the increased requirement for high efficiency motors are two significant factors responsible for the growth of global electronic motors market in the last few years. Rising preference for electric vehicles along with ever-increasing production of automobiles are projected to be the major driving factors for the growth of global electronic motor market. Besides these, growing presence of appliances that are motor driven in households are also expected propel the growth of the global electronic motor market. As electronic motors are widely used in agricultural sector, advancements in agricultural technologies are expected to fuel the market for electronic motors.
The need to curb air pollution coupled with an unmitigated rise in fuel prices has led to growing preference for electric vehicles in many different nations. Consequently, this has been projected to boost the global electronic motor market. Moreover, increasing awareness about the greenhouse effect is also projected to significantly help the shift from conventional motors to electronic motors, thus helping the market growth.
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However, high initial buying prices and basic lack of awareness about the benefits of electronic motors is projected to be a cause of concern for the market growth. Also, replacing electronic motor with conventional motors like gas turbines in big industries is anticipated to hamper the growth of global electronic motor market. In addition to this, prevailing adoption of linear motors in variety of equipment such as machine tools and material handling might also hamper the growth of electronic motor market across the world.
Geographically, the global electronic motor market can be segmented in terms of region or country such as China, Asia except China, EMEA and North America. Some of the prominent players in the market are ABB Group, Nidec Corporation, Maxon Motor AG, and General Electric among others.