AC motors the Largest and Fastest Growing Segment in Medium and High Power Motors Market
A motor is an electro-mechanical device that converts electrical energy into mechanical energy. The electrical motor has brought about one of the most significant developments in the engineering and technology fields ever since electricity was invented.
The report elucidates that positive developmental trends in the manufacturing industry and growth incentives for energy efficient electric motor systems will propel the growth of the global market for medium and high power motors. The practice of replacement of motors that operate on outdated technology will also augment the market’s growth. However, volatile raw material prices and high purchase prices of energy efficient motors will inhibit the growth of this market during the forecast period. Nevertheless, the market has immense growth prospects if manufacturers are able to bring superior and high efficiency motors to the market.
By type, the segments of the global medium and high power motors market are AC motors and DC motors. The AC motors segment is further sub-segmented into three phase and single phase motors. Likewise, the sub-segments of DC motors are brushed motors and brushless motors. AC motors held a share of 79.4% in the global market’s revenue in 2012 and are expected to retain its dominant position until the end of the forecast period.
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On the basis of efficiency class, IE1, IE3, IE2, and non-regulated motors are the segments of this market. IE2 efficiency class motors are ahead in this market as products with this efficiency are widely adopted across the world. The segment held a 70.7% share in the overall market in 2012. Nevertheless, in developed countries such as the U.S., due to regulatory norms, the use of IE3 efficiency motors is mandatory. The IE3 motor class will display significant growth due to mandatory regulations in place for the utilization of premium efficiency motors in several developed countries.
The report examines the global medium and high power motors market across the regional segments of North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific stood as the largest market for medium and high power motors in 2012 with a share of 73.5% in the global market in terms of revenue.
Some leading companies in this market are Brook Crompton UK Ltd., Franklin Electric Co. Inc., Baldor Electric Company Inc., Siemens AG, Ametek Inc., ARC Systems Inc., Danaher Motion LLC, Johnson Electric Holdings Ltd., Regal Beloit Corp., Rockwell Automation Inc., Asmo Co. Ltd., and Allied Motion Technologies Inc.