Electric motors market is expected to reach $129 billion, globally

A new report by Allied Market Research titled, “Global Electric Motors Market (Motor Types, Output power, Applications and Geography) - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020”, considers commercial aspects of the electric motors market.

Based on trend analysis, it is anticipated that the electric motors market would reach $129 billion by 2020, registering CAGR of 5.0 per cent during 2014 - 2020. The thriving market conditions can be attributed to the advent of low power consuming premium motors and the customizable application specific designs.

After the success of standard electric motors, premium efficiency electric motors are driving the electric motors market as a whole. The rapid prototyping process of manufacturing energy efficient electric motors adopted by leading manufacturers would propel the growth of electric motors.

Although expensive than conventional motors, the long term environmental benefits offered by the premium motors tend to outweigh the initial premium cost and increase the efficiency of the application by approximately 20 per cent as compared to standard motors, which in-turn saves the cost of energy consumed.

The demand for energy efficient electric motors can be attributed to factors such as growing consumption of electricity, rising automobiles production, home appliances and the electric motor driven systems. Moreover, the recent electric motor manufacturing standards i.e. the use of improved design, materials, and the manufacturing techniques that enable energy efficient motors to consume less electricity are encouraging the global motors manufacturers to develop energy efficient motors.

To view the report, visit the website at http://www.alliedmarketresearch.com/electric-motor-market

Mergers and Acquisitions among the top players and the local players would further accelerate the growth and improve the services to the customers. Allied Motion Technologies Incorporation has recently acquired Globe Motors, a precision quality grade electric motor design and manufacturer, for a whopping $90 million. This acquisition helped the company to provide innovative products and customized solutions to the end-users.

The key companies profiled in the report are Ametek, Incorporation, Siemens AG, Baldor Electric Incorporation Allied Motion Technologies, ARC Systems Incorporation, Asmo Corporation Limited, Brook Crompton UK Limited, Franklin Electric Cooperative Incorporation, Rockwell Automation Incorporation and Johnson Electric Holdings Limited.

About Allied Market Research:

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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