Global Electric Motors Market Report 2020: Comprehensive Industry Analysis Through 2015-2030 – Motor Manufacturing Companies are Increasingly Manufacturing IoT-Enabled Smart Motors
Dublin, Jan. 16, 2020 (GLOBE NEWSWIRE) — The “Electric Motors Global Market Report 2020” report has been added to ResearchAndMarkets.com’s offering.
The global electric motor manufacturing market was worth $106.9 billion in 2019. It is expected to grow at a CAGR of 7.57% and reach $143.2 billion by 2023.
This report covers global market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider motor manufacturing market, and compares it with other markets.
In 2019, North America was the largest region in the motor manufacturing market. The motor manufacturing market in Asia-Pacific is forecasted to register the highest CAGR during 2019-2023.
Increasing use of household appliances is expected to contribute to the growth of the motor manufacturing market in the forecast period. Increasing electrification, rising disposable income, and rapid urbanization along with several other factors are boosting the demand for household appliances, which in turn will drive the market for motors. For instance, the global household appliances manufacturing market is expected to grow from $283.8 billion in 2018 to $396.2 billion in 2022 at a CAGR of 8.7%. This will drive the market for electric motors in the forecast period.
Increased tariffs on raw materials such as steel and aluminum restrained the market for motor manufacturing in the historic period. Steel and aluminum are predominantly used in manufacture of components for motors. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in 2018, USA imposed a 25% and 10% tariffs on import of steel and aluminum respectively.
Motor manufacturing companies are increasingly manufacturing IoT enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detecting any deviation from normal behavior. Smart motors offer several benefits such as increased lifespan of equipment, and improved safety.
In March 2019, Maxon Motor AG, a Switzerland-based company that manufactures and supplies high precision drives and systems such as gears, sensors, controls, compact drives acquired Parvalux Electric Motor for an undisclosed amount. The acquisition is expected to help Maxon Motor AG in becoming a complete solutions provider company by broadening its portfolio in medical technology and industrial automation. Parvalux Electric Motor is a UK based company that specializes in manufacturing geared motors such as DC brushless, DC brushed, gearbox, and generators.
Major players in the market are ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc. , Baldor Electric Company, Inc.
Key Topics Covered
1. Executive Summary
2. Electric Motors Market Characteristics
3. Electric Motors Market Size & Growth
3.1. Global Electric Motors Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Electric Motors Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Electric Motors Market Segmentation
4.1. Global Electric Motors Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Alternate Current (AC) Motor
- Direct Current (AC) Motor
- Hermetic Motor
4.2. Global Electric Motors Market, Segmentation By Output Power, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Integral Horsepower (IHP)
- Fractional Horsepower (FHP)
4.3. Global Electric Motors Market, Segmentation By Voltage Range, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- 9v & Below
- 10-20 v
- 21-60 v
- 60 v And Above
4.4. Global Electric Motors Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Industrial Machinery
- Motor Vehicle
- HVAC Equipment
- Aerospace & Transportation
- Household Appliances
- Other Commercial Applications
4.5. Global Electric Motors Market, Segmentation By Speed, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Low-Speed (less than 1,000 rpm)
- Medium-Speed (1,001 to 25,000 rpm)
- High-Speed (25,001 to 75,000 rpm)
- Ultra-High Speed (greater than 75,001 rpm)
5. Electric Motors Market Regional & Country Analysis
5.1. Global Electric Motors Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Electric Motors Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- ABB Ltd.
- ARC Systems, Inc.
- Asmo Co. Ltd.
- Brook Crompton UK Ltd.
- Emerson Electric Co.
- Regal Beloit Corporation
- Rockwell Automation Inc.
- Siemens AG
- Ametek, Inc.
- Baldor Electric Company, Inc.
- Allied Motion Technologies, Inc.
- Franklin Electric Co. Inc.
- Johnson Electric Holdings Limited
- Robert Bosch GmbH
- Denso Corporation
- Toshiba International Corporation
- General Electric Company
- Nidec Corporation
- WEG S.A.
- Hitachi, Ltd.
- Hyosung Corporation
- Danaher Corporation
- Teco Electric Machinery & Co.
- Dr. Fritz Faulhaber GmbH Co. KG
- Maxon Motor AG
- Mitsubishi Electric
- Bulher Motor GmbH
- BorgWarner Inc.
- Continental AG
For more information about this report visit https://www.researchandmarkets.com/r/8z8p2j
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Plant Asset Management Market (PAM) Worth $9.4 Billion by 2024 – Exclusive Report by MarketsandMarkets™
According to the new market research report “Plant Asset Management Market (PAM) by Offering (Software and Services), Deployment Mode (Cloud-based and On Premises), Asset Type (Production Assets and Automation Assets), End-user Industry (Process and Discrete), and Geography – Global Forecast to 2024″, published by MarketsandMarkets™, the Plant Asset Management Market is projected to grow from USD 5.5 billion in 2019 to USD 9.4 billion by 2024, at a CAGR of 11.3%. Major factors fueling the market growth include surging adoption of lean manufacturing practices by several organizations, increasing focus on providing cloud-based PAM solutions to satisfy customer demands, escalating demand for asset management software that can identify potential failures to avoid futuristic loss, and growing need for real-time data analytics.
Ask for PDF Brochure:
“Services to lead plant asset management market by 2024”
The deployment of PAM software is a costly process and a one-time activity, whereas PAM services that include maintenance needs, software upgrades, and personnel training are demanded by end-user industries continuously. Hence, PAM services have a more significant contribution to generating more revenue than PAM software solutions. Further, market players are focusing on offering industry-specific services to meet the ever-changing demands of different industries.
“Production assets to hold largest share of PAM market during forecast period”
Rising adoption of PAM solutions for monitoring rotating and reciprocating equipment, among others, across various industries is expected to drive the growth of the PAM market during the forecast period. Moreover, incidents of unplanned shutdowns or slowdowns due to equipment failures lead to high financial loss in terms of damage to equipment, production losses, and unscheduled maintenance. However, real-time health and performance insights encourage informed actions and decisions to improve plant efficiency minimizing risks of equipment failure, thereby reducing the wastage of valuable finances. Hence, the demand for PAM solutions is high to manage these production assets.
Browse in-depth TOC on “Plant Asset Management Market“
109 – Tables
52 – Figures
178 – Pages
“Asia Pacific to be largest market for PAM during forecast period”
Asia Pacific presents a substantial market for PAM. The PAM market in APAC is growing rapidly due to several advancements and technological innovations in different manufacturing industries. The adoption of PAM solutions is high in APAC due to the growing manufacturing sector in the region. Most of the key manufacturers from different industries have shifted their manufacturing plants in APAC due to the low labor cost and availability of a skilled workforce. These manufacturing units are using asset management solutions for the improvement in the overall manufacturing processes, which is expected to drive the growth of the PAM market in the region.
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Major players in the PAM market are Emerson (US), Honeywell (US), Rockwell (US), ABB (Switzerland), Schneider (France), Yokogawa (Japan), General Electric (US), Siemens (Germany), and SKF Group (Sweden).
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Smart Factory Market by Technology (DCS, PLC, MES, ERP, SCADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), Industry, and Geography – Global Forecast to 2024
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Happy Lunar New Year! Canada Post celebrates Year of the Rat
Canada Post has issued two stamps celebrating the Year of the Rat – representing the first year in the Lunar New Year cycle and the final issue in a second 12-year series honouring the annual festival.
The Year of the Rat begins on January 25, 2020, and ends on February 11, 2021. A symbol of fertility and intelligence, the rat is said to confer great cunning, tact and vitality on those born under its sign.
Designed by Albert Ng (O.Ont.) and Seung Jai Paek, of Albert Ng and Associates, the stamps portray the traditional story of the rat’s daughter’s wedding in the style of folk art known as Chinese farmer painting. The Permanent™ domestic-rate stamp depicts the bride on route to her nuptials, while the International-rate stamp reveals the happily married couple.
The Year of the Rat stamps will be available tomorrow, January 17, in Permanent domestic- and International-rate booklets, as well as a gummed pane of 25 domestic-rate stamps framed by four Chinese blessings. Philatelic collectibles include an unsealed, International-rate Official First Day Cover suitable for use as a “money envelope” for traditional gift-giving.
SOURCE Canada Post
Announcing the Anti-Human Trafficking Intelligence Initiative and Honoring Human Trafficking Awareness Month
Assisting the Fight
Across the United States, human trafficking exists everywhere, even in your local town square. The horrifying statistics drove Aaron Kahler to found the Anti-Human Trafficking Intelligence Initiative, a non-profit dedicated to partnering with financial institutions, corporations and law enforcement to combat human trafficking.
“ATII will deliver innovative solutions to disrupt human trafficking networks by assisting financial gatekeepers in identifying, reporting and terminating relationships with associated customers,” says Aaron Kahler, CEO of ATII.
For example, nestled into a pristine part of the Poconos, Stroudsburg is an idyllic borough in Pennsylvania, a vibrant town, a vacation haven. Last week in Stroudsburg, the US Attorney’s Office in Pennsylvania announced that Sirvonn Taylor, was sentenced to 20 years’ imprisonment for heading-up a conspiracy that forced women to engage in prostitution. In this bucolic town, “Females were ‘sexed-in’ to the gang, forced to engage in sex with members and recruited to engage in prostitution.” PR 1.6.2020
ATII will disrupt the way traffickers operate around major events nationwide starting at this year’s Super Bowl in Miami, FL with the release of a human trafficking awareness and victim outreach mobile application. The application allows victims to scan a QR code where necessary help can be accessed in her primary language.
Driving Corporate Social Responsibility
Relying on technology/data partnerships and corporate social responsibility leadership, ATII has been able to curate initiatives and provide resources to organizations including:
- High Risk Trafficking Data that can be leveraged through any transaction monitoring, sanctions or onboarding technology
- E-learning that can be utilized by institutions to comply with anti-money laundering regulatory requirements
Networking and Partnerships Extend the Battle Against Human Trafficking
Leveraging ATII’s programs, best practices, data, technology and reporting mechanisms in as many financial institutions as possible will directly result in Suspicious Activity Reports (SARs) being filed on human trafficking and ultimately save lives while bringing traffickers to justice.
SOURCE Anti-Human Trafficking Intelligence Initiative
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