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%.
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).
The former type offers an output power of under 746.9 watts (1 hp), and the latter more than that. As FHP motors are used more in low-power devices as compared to IHP variants, these held the larger revenue share in the market.
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 electric vehicles, electric motors replace the fossil fuel-based internal combustion engine to provide propulsion. With growing concerns about air pollution, governments across the region are encouraging the adoption of electric vehicles, which is predicted to the drive the APAC electric motor market in the forecast period.
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.
APAC Electric Motor Market Segmentation
Market Segmentation by Motor Type
- AC Motor
- Synchronous Motor
- Induction Motor
- DC Motor
- Brushless DC (BLDC) Motor
- Brushed DC Motor
- Hermetic Motor
- Fractional Horsepower (FHP)
- Integral Horsepower (IHP)
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