Alarming air pollution levels and the resulting government impetus toward curbing emissions are driving the growth of the Asia-Pacific electric motor market. Electric motor is a simple device that converts electrical energy into rotational energy, thus resulting in energy efficiency.
A recent study by P&S Intelligence valued the electric motor market in 2017 at $50,948.1 million. It is being expected that the sector will steadily advance during the forecast period 2018–2023 with a CAGR of 6.9%.
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In terms of sales volume, the demand for electric motors was the highest for motor vehicles, as compared to industrial machinery, transportation and aerospace, HVAC equipment, and household application. Different components of an automobile, such as blowers, windows, fuel pumps, and throttles, utilize electric motors.
In APAC, the growing demand for power is resulting in the heavy combustion of fossil fuels in power plants, further contributing to environmental pollution.
Of the three types of motors available in the APAC electric motor market — AC, DC, and hermetic — the AC variant generated the highest revenue during the historical period 2013–2017. Going by the output power, electric motors can be categorized into two types: fractional horsepower (FHP) and integrated horsepower (IHP).
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The region is presently witnessing increased adoption of IE4-compliant motors. APAC electric motor market players, such as ABB Ltd., Siemens AG, WEG SA, Bharat Bijlee Limited, and Nidec Corporation, are expected to benefit greatly from this development.
Thus, it is clear that an increase in demand for energy-efficient electric motors for construction, automotive, and industrial sectors will further lead to the market growth in the APAC region.
This post was originally published on Raleigh Recorder