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Press Release

Customized Electric Motors Are Trending in the Electric Motor Market

This press release was orginally distributed by SBWire

New York City, NY -- (SBWIRE) -- 09/08/2020 -- The global electric motor market is projected to reach a value of over $195.2 billion by 2030, rising from $118.2 billion in 2019, progressing at a 4.8% CAGR during 2020–2030.

The market is growing due to the:

* Increasing sales of electric vehicles
* Rising government efforts for encouraging the adoption of electric vehicles

The increasing government efforts for enhancing the adoption of electric vehicles is a key driving factor of the electric motor market. Governments of several countries are offering tax incentives and subsidies on the purchase of electric vehicles and are implementing strict emission laws on traditional ICE vehicles. For example, China has been providing a subsidy of over $10,000 per EV since 2017. Similarly, the Indian government is also aiming to have a considerable EV fleet by 2030, for which the National Electric Mobility Mission Plan 2020 was launched in 2012.

Request to get the sample copy of this report at: https://www.psmarketresearch.com/market-analysis/electric-motor-market/report-sample

When motor type is taken into consideration, the AC division is predicted to witness the higher CAGR in the years to come. These motors can operate a higher voltages, thereby resulting in the reduction in the size of wire. Other than this, these motors also offer higher torque and speed. It is further easier to maintain AC motors, thereby making them the popular choice over direct current motors. It is predicted that the production of EVs will rise post the current pandemic situation, which will further result in the increasing sales of AC motors.

Geographically, the Asia-Pacific (APAC) region held the major share of the electric motor market in the past, and is further predicted to register the highest CAGR in the years to come as well. With China at the leading position, APAC is the largest producer of electric vehicles in the world. The production of these vehicles in further increasing in countries such as India, where the FAME scheme is offering a number of benefits to people who purchase EVs. This is predicted to drive the regional domain in the near future.

Browse report overview with detailed TOC on "Electric Motor Market Research Report: By Motor Type (AC Motor, DC Motor, Hermetic Motor), Output Power (Fractional Horsepower, Integral Horsepower), Application (Motor Vehicle, Industrial Machinery, HVAC Equipment, Transportation, Household) - Global Industry Analysis and Growth Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/electric-motor-market

Some of the key players operating in the domain are Toshiba Corporation, Siemens AG, Emerson Electric Co., DENSO Corporation, Wolong Holding Group Co. Ltd., Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, Robert Bosch GmbH, ABB Ltd., AMETEK Inc., Franklin Electric Co. Inc., Regal Beloit Corporation, Nidec Corporation, WEG Industries, Mitsuba Corporation, and Rockwell Automation Inc.

The research includes detailed analysis of;

Based on Motor Type
- AC Motor
- DC Motor
- Hermetic Motor

Based on Output Power
- Fractional Horsepower
- Integral Horsepower

Based on Application
- Motor Vehicle
- Industrial Machinery
- Heating, Ventilation, and Air Conditioning (HVAC) Equipment
- Transportation
- Household

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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

For more information on this press release visit: http://www.sbwire.com/press-releases/customized-electric-motors-are-trending-in-the-electric-motor-market-1303178.htm

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