Electric Motors Market Demand, Overview, Growth, Outlook and Key Players Superior Essex, Sumitomo Electric, Dahren Group, Hitachi Metals, Elektrisola

In a recent published report, Kenneth Research has updated the market report for Electric Motors Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electric Motors Market products.

Global Electric Motors Market for Household Appliances Research Report: Information by Type (AC Motors and DC Motors), by Voltage (Up to 50 V, 50 V – 120 V and Above 120 V), by Output Power (Up to 500 W and Above 500 W), by Application (Refrigerator, Ovens, Washing Machine, Vacuum Cleaner, Electric Fan, Dishwasher, Range Hood, Tumble Dryer, Wash Dryer and Freezer) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2025

Market analysis
Generally, most electric motors operate through an interaction between electric existing and the motor’s magnetic field in the winding of a wire to create force in the form of rotation of a shaft. Electric motors create linear or rotary force (torque) intended to propel some external structure, such as a fan or an elevator. Electric motors for household applications are primarily used in refrigerators, ovens, washing devices, vacuum cleaners, electric fans, dishwashers, and freezers. An electric motor can be defined as an electrical machine that can convert electrical energy into mechanical energy. There are two types of electric motors for household appliances, namely the AC motors and DC motors.

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Corresponding to the Japan Refrigeration and Air Conditioning Association Report 2019, the demand for room air conditioners increased from 86.24 million units in 2016 to 96.07 million units in 2018. The electric motor is the primary component in the HVAC system, wherein it is used to power the blower for the transfer of air. The motor drives the compressors to compress refrigerant and pumps water for chilled water and hot water applications. The reasons powering the growth of the electric motors market for household appliances are increasing demand for HVAC in the residential sector and Increasing the affordability of household appliances. HVAC systems in residences improve health and comfort. The increasing demand for HVAC systems in household appliances is expected to increase the demand for electric motors in HVAC systems in the residential sector.

Market segmentation
The Global Electric Motors Market is segmented based on type, voltage, output power, application, and region respectively. The sale of electric motors is increasing year-on-year with the increase in demand for household appliances. The requirement of household appliances is expected to lead to the growth of the appliances industry. By type, the global market is segmented into AC motors and DC motors. By voltage, the global market is segmented into up to 50 V, 50 V – 120 V, and above 120 V. On the basis of output power, the global market has been segmented into up to 500 W and above 500 W.

Companies are focusing on the improvements to offer improved appliances at low costs, which findings in competitive pricing among the companies of household appliances to gain an edge over their peers. For instance, in April 2019, Johnson Electric Holdings Limited (Hong Kong) introduced permanent magnet DC motors for hairdryers with the objective to launch a cost-efficient solution of. Such developments are expected to reduce the prices of appliances. Such developments are expected to increase the affordability of household appliances. Based on application, the global electric motors market for household appliances has been segmented into refrigerator, ovens, washing machine, vacuum cleaner, electric fan, dishwasher, range hood, tumble dryer, wash dryer, and freezer.

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Regional analysis
Geographically the Global Electric Motors Market is split in regions like North & South America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. Asia-Pacific is poised to hold most of the share of the market during the forecast period, owing to the expansion of residential sectors, increase in per capita GDP, and the increase in demand for household appliances. As per the National Bureau of Statistics of China, the Chinese government invested USD 1.21 billion in the development of residential buildings. The rapid development of the residential sector is projected to increase the demand for energy in household appliances in China.

As electric motors are essential components of household appliances, such developments will increase the demand for electric motors in China. Moreover, as per the report published by India Brand Equity Foundation in January 2019, the refrigerators market holds roughly 27% out of the total consumer appliances in 2017, and the refrigerator market projected to be valued at USD 5.34 billion by 2022. The surge in the demand for refrigerators is projected to increase the demand for electric motors which are an essential element of refrigerators in household appliances. Such factors are anticipated to drive the development of the electric motors market for household appliances in Asia-Pacific during the forecast period.

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Major players
The proposed spectators in the Global Electric Motors Market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Electric Motors Market are concentrating on firming their global ways by entering into untouched markets.

The projected onlookers in the Global Electric Motors Market are companies like EBM-PAPST (Germany), Nichibo DC Motor (China), Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan), Nidec Motor Corporation (Japan), Cebi Group (Luxembourg), Johnson Electric Holdings Limited (Hong Kong), Newmotech Co., Ltd (South Korea), Diehl Stiftung & Co. KG (Germany), Dumore Motors (US), CG Power and Industrial Solutions Limited (India), NMB (US), Panasonic Corporation (Japan), Keli Motor Group Co., Ltd. (China), Sanhua Aweco (Germany) and Elica S.p.A. (Italy).

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