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Electric DC Motor Market Segmented By Brushed DC Motors and Brushless DC Motors type in HVAC Equipment, Aerospace & Transportation, Household Appliances, Industrial Machinery, Motor Vehicles application
In order to perform a number of industrial tasks, electric DC motors are widely used in various industrial applications. Almost in every mechanical development, electric DC motors are used for energy conversion as they basically convert electrical energy into mechanical energy. Steady growth in industrial automation is a key driving force for the electric DC motor market.
In recent years, it has been observed that several industry verticals are adopting industrial automation components. In order to compete in the fast-paced business environment, industries are transforming their business processes. These factors are expected to contribute to the growth of the global electric DC motor market during the forecast period.
An electric DC motor is a rotary electric machine that converts electric energy into mechanical energy. It runs on direct current and is used to produce mechanical power.
The transition towards advanced and energy-efficient electric DC motors is a key trend observed in the market. The demand for energy-efficient electric DC motors from mining, manufacturing, power generation and utility sectors has been positively supporting the growth of the electric DC motor market worldwide.
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Drivers
The electric DC motor market has witnessed significant growth over the last couple of years and the market is expected to register a double-digit growth rate during the forecast period. The global electric DC motor market is significantly driven by the rising adoption of industrial automation components in several industries and household appliances.
In addition, government initiatives towards green vehicles are positively supporting the growth of the global electric DC motor market. It has been observed that the government in various countries such as China, the U.S., India, the U.K., France, Germany and Italy are supporting and promoting the adoption of green vehicles with an aim to decrease their carbon footprint.
Additionally, the ongoing trend of industry revolution 4.0 technologies such as robotics and industrial internet of things (IIoT) is expected to propel the growth of the global electric DC motor market during the forecast period.
Challenges
Among the prominent challenges in the electric DC motor market, which many hinder the market growth, include the excessive cost of installation and maintenance. In parallel, worldwide financial uncertainty and macroeconomic situations such as currency exchange rates and economic difficulties are some of the significant factors that may hinder the growth of the electric DC motor market.
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Prominent players in the global electric DC motor market include Franklin Electric Co., Asmo Co. Ltd., Ametek Inc., Sony Corporation, Bayer AG, Whirlpool Corporation, Toyota, Accurate Electric Motor & Pump Co., American Crane & Equipment Corp., Bruce Electric Equipment Corp, Tesla Motors, Hansen Motors and ATS Automation Tooling Systems, Inc.
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On the basis of geography, Asia Pacific is pegged to be an attractive region for the electric DC motor market, owing to the increasing digitization in various industry verticals across India, China, Japan and other Asian countries. In Asia Pacific, high speed rpm electric DC motors are gaining momentum, which is expected to support the growth of the global electric DC motor market in the region.
Moreover, due to rapid technological advancements in the U.S. and Canada and presence of various established and growing players, the North America region is estimated to hold a significant share of the electric DC switches market.
The region has been witnessing a surge in the adoption of advanced and next-generation industrial technologies, which is another key factor driving the growth of the electric DC motor market in the region.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
