Rising
replacement of aging electric motors, growing manufacturing
industries in several countries, and incentive programs for
energy-efficient electric motors are some of the factors expected to
boost demand for medium and high power motors in the coming years.
However, unstable raw material prices and high cost of
energy-efficient motors are the restraining factors that can hamper
the growth of this market across the globe. The global medium and
high power motors market is projected to touch US$69.91 billion by
the end of 2019, exhibiting a 7.3% CAGR between 2013 and 2019.
Diversity
of Applications to Fuel Growth of Global Medium and High Power Motors
Market
On
the basis of end-use industry, the global
medium and high power motors market has been segmented into
industrial machinery, aerospace and other transportation, HVAC
manufacturers, and commercial and other industries (such as power
generation and water treatment). The industrial machinery segment is
further divided into medical equipment, pulp and paper, oil refining
and petrochemical, construction and mining equipment, food and
beverage, and other industrial machinery and tools (such as
elevators, industrial escalators, and machine tools). Among all these
applications, in 2012, the industrial machinery application segment
dominated the market, holding a share of 29.6%. This diverse array of
application industries is expected to fuel the global medium and high
power motors market.On the basis of output, the medium and high power
motor market is segmented into medium power motors and high power
motors. Medium power electric motors comprise motors that bear an
output range between 0.746 KW and 200 KW, whereas high power electric
motors have an electric output greater than 200 KW. Among these, in
2012, the medium power motors segment held 46.4% of the market in
terms of revenue.
The
global medium and high power motors market is categorized into AC
motors and DC motors. AC motors are further categorized into single
phase motors and three phase motors and medium power DC motors are
divided into brushless motors and brushed motors. In 2012, AC motors
led the market, accounting for 79.4% of the market in terms of
revenue, and is expected to retain its position in the near future.
On the basis of efficiency class, the global medium and high power
motors market has been divided into non-regulated, IE4 (super
premium), IE3 (premium), IE2 (high), and IE1 (standard) efficiency.
Among these types, the IE2 efficiency class dominated the global
medium and high power motors market, holding a market share of 70.7%,
as this class can be effectively used in most nations across the
globe.
Asia
Pacific Led Global Medium and High Power Motors Market in 2012
On
the basis of geography, the global medium and high power motors
market has been segmented into Europe, Asia Pacific, North America,
and Rest of the World.In 2012, Asia Pacific dominated the global
medium and high power motors market, accounting for 73.5% of the
market in terms of revenue. The dominance of this region can be
attributed to the rapidly increasing number of manufacturing
industries in several countries such as India, South Korea, China,
Indonesia, and others. Europe and North America are expected to
witness high growth in the coming years, owing to incentive programs
from the government for early replacement of less efficient
industrial motors and strict energy consumption rules and
regulations.
The
global medium and high power motors market is extremely fragmented,
owing to the huge number of multinational players operating in the
market. Some of the prominent players in this market are Allied
Motion Technologies Inc., Asmo Co., Ltd., Ametek, Inc., Siemens AG,
Baldor Electric Company, Inc., Franklin Electric Co., Inc., Regal
Beloit Corp., Rockwell Automation Inc., Brook Crompton UK Ltd, ARC
Systems, Inc., Johnson Electric Holdings Ltd., and Danaher Motion
LLC.
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