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The Asia Pacific Electric Motor Market Size would witness market growth of 7.7% CAGR during the forecast period (2018 – 2024).
Electric motor is a machine that transforms or converts electric energy to mechanical energy. Majority of electric motors operate by the internal interaction of motor's magnetic field and winding currents to generate force within the electric motor. In the transportation industry, electric motors operate in both motoring and generating modes to produce electrical energy from mechanical energy. Electric motor finds its major application in the field of industrial fans, machine tools, blowers and pumps, household appliances, disk drives, and machine tools. Generally, electric motor is powered by AC current (power grid, inverters or generators) or direct current (batteries, motor vehicles or rectifiers).
A number of factors, such as economic growth in the emerging nations, increasing electric vehicle penetration, and rising industrial activities, drive the electric motor market in the Asia-Pacific region. Furthermore, there has been an unprecedented increase in demand in recent years for energy-efficient electric motors at oil and gas production sites apart from the residential and commercial sector in this region. Industries like the automotive, chemical, fertilizer and petrochemical are, in addition, experiencing steady growth in the region. This will offer global electric motor players enormous growth opportunities in the Asia Pacific region.
Based on Component, the market is segmented into AC Motor, DC Motor, and Hermetic Motor. AC Motor is further segmented into Synchronous AC Motor, and Induction AC Motor. Based on Output Power, the market is segmented into Fractional Horsepower (FHP) Output, and Integral Horsepower (FHP) Output. DC Motor is further segmented into Brushless DC Motor, and Brushed DC Motor. Based on End User, the market is segmented into Government, Energy, Defense, Agriculture & Forestry, Media & Entertainment, Civil Engineering & Archaeology, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, General Electric (GE), Siemens AG, Hitachi, Ltd., Mitsubishi Heavy Industries Ltd., ABB Corporation, Emerson Electric Co., Denso Corporation, Toshiba Corporation, and Brook Crompton UK Ltd.