Electric Motors Market Share from OEM accounted for over 80% of the revenue till 2024 - PowerPoint PPT Presentation

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Electric Motors Market Share from OEM accounted for over 80% of the revenue till 2024


More Information @ Key players in the automobile industry are continuously aiming at increasing the production of these vehicles. – PowerPoint PPT presentation

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Title: Electric Motors Market Share from OEM accounted for over 80% of the revenue till 2024

Electric Motors Market in North America to grow
at 7.5 CAGR with 378 million units by 2024
Key Insights from Electric Motors Market
  • Global electric motor shipments are expected to
    cross 2 billion units till 2024. High adoption of
    electric vehicles will primarily drive the
    industry growth till 2024. Major players from
    automotive sector are focusing at increasing
    their electric vehicle production which in turn
    drive industry demand. For instance, Honda plans
    to electrify two-third of its vehicle production
    by 2030. Similarly, Volkswagen aims at
    accomplishing over 2 million vehicle sales by
    2025. These continuous efforts by the OEMs will
    lead to increased electric motors demand, thus
    fostering the industry growth.
  • Various governments have mandated several targets
    regarding reduction of CO2 emissions. These
    targets aim for 95 g CO2/km cap by 2020 and are
    anticipated to become more stringent beyond 2020.
    Fulfilling these targets require complete vehicle
    electrification, strengthening the product
    penetration over the forecast timeframe. However,
    operational supply chain issues coupled with
    probability of product failure may hamper the
    electric motors market growth over the forecast

  • Shifting focus towards solar powered consumer
    goods owing to their benefits is witnessed as an
    opportunity for industry participants. These
    benefits include high efficiency and low power
    consumption. Additionally, government initiatives
    to promote their usage will support the electric
    motors demand. For instance, US Department of
    Energy is investing heavily on the development of
    superior solar powered products.
  • Small DC motors for automotive is anticipated to
    hold highest market share crossing USD 26 billion
    over the forecast timeframe. Extensive usage in
    automobile industry, especially in the key
    mechanical applications such as cooling systems
    and electric power steering (EPS) will support
    the industry growth. Traction motors will
    showcase exponential growth till 2024 owing to
    rising electric vehicle production across the
  • Small DC motors for consumer goods industrial
    applications will account for a considerable
    revenue share and grow at over 5 from 2017 to
    2024. This can be credited to their high
    acceptance from industrial machinery and consumer


Latest Research Report On Electric Motors Market
_at_ https//www.gminsights.com/industry-analysis/e
lectric-motors-market Request for a sample of
this research report _at_ https//www.gminsights.com
U.S. Electric Motors Market, By Motor, 2016
2024, (USD Million)

Major Companies in Electric Motors Market
  • WEG
  • Nidec Corporation
  • ABB
  • Toshiba
  • Robert Bosch
  • Regal Beloit
  • Allied Motion Technologies
  • General Electric
  • Shandong

Industry Coverage

Regional Insights in Electric Motors Market
  • Asia Pacific is anticipated to capture
    approximately 55 of the electric motors market
    share over the forecast timeframe. Substantial
    automobile production across the region will
    mainly drive the regional growth. Focus of
    automobile industry towards emission reduction
    and fuel economy enhancement has resulted in
    implementation of green vehicles in various
    countries. Moreover, favorable regulatory
    landscape in the region regarding vehicle
    electrification will further propel the industry
    growth. For instance, Indian government has
    mandated vehicle electrification by 2030 and is
    forcing automobile OEMs for early planning of the
  • Rising deployment in commercial passenger
    vehicles will spur the North America electric
    motors market over the forecast timeframe. Latin
    America will grow significantly owing to rising
    trading activities and availability of cheap
    labor. MEA will grow at over 3 CAGR from 2017 to
    2024. Increasing sales of all-terrain vehicles
    (ATVs) along with shifting trend towards hybrid
    vehicles will support the regional growth.

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