Industry Outlook and Trend Analysis
The Precision Electric Motors Market was worth USD 26.10 billion in the year 2014 and is expected to reach approximately USD 77.9 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 12.92% during the forecast period. The precision electric motors are enhanced and superior electric engines with different fundamental highlights, for example, increased shelf life, minimum noise, and reduced energy cost. Additionally, the precision electric motors provide simple establishment and less support cost. The precision electric motor works through the cooperation between an electric engine's magnetic field and twisting current to create drive. The structural component of precision electric motors is commonly a lasting magnet synchronous engine, yet can likewise be an enlistment engine or exchanged reluctance engine. Moreover, precision electric motors render various benefits including increased reliability, high torque to weight ratio, increased efficiency, and general lessening of electromagnetic interference. The rising requirement for precision electric motors because of substitution of the obsolete low proficient electric engines with high effective electric engines, expanding vehicle creation, and stringent directions on energy usage are anticipated to help the market globally acting as significant driving variables for the precision electric motors market. Nonetheless, high introductory cost of the precision electric motor may hamper the market development sooner rather than later.
Motor Type Outlook and Trend Analysis
On the basis of motor type, the precision electric motors market is divided into AC brushless motors and DC brushless motors. Among these, DC brushless motors can be controlled by making the use of basic switching commutation logic, while AC brushless motors are controlled by means of complex calculations requiring numerical abilities. In 2014, DC brushless engines held the greatest share of US$21.2 billion in the market based on revenue and are foreseen to keep up their predominance in the figure time frame. The reason behind the strength of DC brushless motors is their expanding application in chassis and powertrains inside cars.
Application Outlook and Trend Analysis
On the basis of application, the precision electric motors market is sectioned into automotive, healthcare, household appliances, defense and aerospace, industrial machinery, and others. In 2013, In terms of revenue, the industrial machinery fragment represented to an offer of 25 percent in the market for precision electric motors. This fragment likewise held the biggest share in the market in 2014 and remained at a valuation of US$6.7 billion. The prevalence of this portion is ascribed over the rising assembling of industrial machinery, especially in the developing countries of China, Brazil, and Russia, among others.
Regional Outlook and Trend Analysis
Geographically, the market is sectioned into Asia Pacific, North America, Europe, and Rest of the World (RoW). Among these, in 2014, Asia Pacific accounted for the greatest offer in the market and is the most quickly creating market for precision electric motors. It is anticipated to keep up its prevalence in the upcoming years. This area has encountered exponential development in the precision electric motors market attributable to expanding industrialization in nations, for example, Malaysia, India, Indonesia, and China, among others. Furthermore, the rising dispensable incomes of purchasers in these nations have likewise helped increment the interest for precision electric motors inside the Asia Pacific locale.
The leading players in the market are Baldor Electric Company, Regal Beloit, Yaskawa Electric Corporation and Nidec among others. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The global Precision Electric Motors Market is segmented as follows-
AC brushless motors
DC brushless motors
Defense and aerospace
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?