“Electric motor sales market is expected to reach a value of USD 125.02 billion by 2020, at a CAGR of 6.38% during the forecast period. Increasing power demand, industrial, commercial & residential infrastructure, HVAC application, and fuel efficient transportation are set to drive the market growth for electric motor sales across the world. South America is investing heavily in the mining and waste water treatment industries which will boost the market for electric motor sales in the region. Also, increasing oil & gas production activities in Middle East & Africa are creating high opportunities for the electric motors sales market in MEA region.
AC electric motors dominate the global market:
AC motors is the fastest growing segment in the global market. This high growth is attributed to the increasing usage of these motors in applications like HVAC equipment, industrial machinery, pumps and fans among others where power performance is required for extended periods of time. AC motor is further segmented by its sub-types which include induction and synchronous motors. Induction motor held the largest market share in terms of value in 2014.
Asia-Pacific: The fastest growing region for electric motor:
Due to increasing investments in major industries such as oil & gas, power utilities, metal & mining, , the usage of electric motors in the APAC region is increasing rapidly. The growth in agriculture sector is continuously increasing in China, India, Australia and South Korea which will further boost the demand for electric motors in the region. Apart from Asia-pacific, Europe & North America are also the biggest markets for electric motors. Aging infrastructure of water and wastewater treatment facilities in North America is expected to influence the electric motor sales market growth in the coming years.
Breakdown of Primaries:
Expert interviews have been conducted with various primary respondents that include key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects.
By Company Type: Tier1- 60%, Tier2-27%, and Tier 3-13%
By Designation: C-Level-50%, Director Level-30%, and Others*-20%
By Region: North America-30%, South America-20%, Europe-20%, Asia-Pacific-20%, RoW-10%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion and Tier 3 =
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