Medium and high power electric motors contributed about ten percent of the overall electric motors size. It was responsible for greater than 90% of the electric power usage. These electric motors are used in valves, fans, process plants, pumps, compressors, machine tools, machine engineering and mechanical handling. The world wide medium and high power electric motors market is predicted to witness a CAGR growth of about 7.3 % during the forecasted period . It is estimated that the market is evaluated at 0.90639 billion US dollars by end of year 2022.
Due to growing costs of power supply owing to rise in consumption of electricity nations have implemented strict rules regarding power consumption leading to greater use and demand for power efficient/effective medium & high power electric motors. These electric motors also help in reducing the manufacturing costs and hence are used by many industries. Producers of medium and high power electric motors are required to concentrate on power efficacy, durability and reliability of these electric motors as these are the key aspects that influences the decision of the customer. The worldwide global medium and high power electric motors market has huge potential for growth and expansion owing to large scale production of premium efficient electric motors. Growing substitution of obsolete electric motors is also predicted to contribute to the growth and development of the industry. But the highly volatile costs of raw materials and high purchase costs of power effective electric motors will inhibit the growth and expansion of the global medium and high power electric motors market.
The global medium and high power electric motors market is divided by output power, type, efficiency class, end use market and geographical location.
The global medium and high power electric motors market by output power includes high power electric motors and medium power electric motors.
High power electric motors market by type includes DC electric motors and AC electric motors. DC electric motors includes brushless DC electric motors and brushed electric motors. AC motors includes three phase electric motors and single phase electric motors.
Medium power electric motors market by type includes AC electric motors and DC electric motors. AC electric motors includes three phase electric motors and single phase electric motors. DC electric motors includes brushless DC electric motors and brushed electric motors.
AC electric motors are the biggest and rapidly growing section. It contributed about 79.4% of the total market revenue in year 2012 and is predicted to continue its domination in future. The growth is mainly due to growing demand for three phase AC electric motors from industry users. Further, the cost of these electric motors is falling constantly due to reduction in the costs of inverters that affects the usage of AC three phase electric motors.
The global medium and high power electric motors market by efficiency class includes high efficiency (IE2), super premium efficiency (IE4), standard efficiency (IE1) , non regulated and premium efficiency (IE3).
The market is led by IE2 efficiency class electric motors and it contributed about 70.7% of revenue to the total revenue market share of the worldwide medium and high power electric motors market in year 2012.
In sub continent of North America, utilization of IE3 efficiency class electric motors has become compulsory. IE3 efficiency class electric motors are predicted to observe a substantial growth during the estimated period owing to rules imposed by respective governments of the respective regions of this sub continent pertaining to the compulsory use of premium effective electric motors.
The worldwide medium and high power electric motors market by end use application includes electric motor vehicle producers, industrial machinery, commercial market & other markets, HVAC producers and aerospace & other transport.
Industrial machinery is further divided into medical devices, petrochemical & oil refining, mining & construction devices, food & beverages, pulp & paper and other machine tools or industrial tools like industrial escalators and elevators.
In year 2012, the industrial machinery section was the biggest application segment for medium and high power electric motor providers. It is predicted to maintain its domination during the estimated period. Strict rules enforced by the governments related to the power consumption and growing significance of minimizing the cost of production is predicted to enhance the demand for power effective electric motors from industrial machinery section. Industrial machinery section was the biggest end use application section of the global medium and high power electric motors market in year 2012. It contributed about 29.6% of the total market share to the global market during that year.
Substantial growth and expansion is also predicted to come from the motor vehicle producers and HVAC equipment market sector with their increased production as well as enhanced monetary conditions during the forecasted span.
Commercial and other markets includes energy generation and water treatment.
The worldwide medium and high power electric motors market by geographical location includes sub continent of North America, continent of Europe, APAC zone and region of rest of the world.
APAC zone led the global market in year 2012 and contributed about 73.5% of the total market revenue share of the global medium and high power electric motors market in that year. It is predicted to be the rapidly growing market during the estimated period. The market expansion and growth can be mainly credited to positive economic overview and rise in production firms in nations like South Korea, China, Indonesia and China in the zone.
The sub continent of North America and continent of Europe are predicted to further lose their market share during the estimated period owing to their diminishing gross domestic output specifically in key nations like USA, UK and Germany.
The key firms profiled in this market report includes: