Electric Motors Market Growth for Transportation Sector Predicted at 4.6% Till 2026: Global Market Insights, Inc.
Major electric motors market players include Hyosung, Siemens, Robert Bosch, WEG, ABB, Regal Beloit, Toshiba, Buhler Motor Gmbh, Allied Motion Technologies, General Electric, and Shandong.
SELBYVILLE, Del., July 2, 2020 (Newswire.com) - According to the latest report "Electric Motors Market for Transportation Sector by Motor (Traction Motors, Small DC Motors For Automotive [Air Suspension Motors, ABS Motors, Vacuum Pump Motors, Fork Lift Actuation Motors, Cooling Fans & Blowers Motors], Small DC Motors For Railways And Aerospace Applications [High Voltage Motor, Low Voltage Motor, Cooling Motor, HVAC Compressor Motors]), End-Use (OEM, Aftermarket), Price Trends, Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of electric motors for transportation sector will cross $20 billion by 2026. The stringent government regulations and policies in concert with the environment provide a positive prospect to the market.
Increasing demand for the product in the transportation sector along with the presence of big manufacturers aiding to cater to the huge product consumption in the industry are the key factors fueling the overall electric motors market demand for the transportation sector. Innovation in the products particularly from the automotive and aerospace industries focusing on the customer requirement will further propel the product sales. Moreover, manufacturers are focusing on promoting hybrid vehicle sales through various marketing strategies boosting product penetration and thus fueling electric motors sales. Additionally, reducing the overall weight of the product increasing the efficiency of the vehicles will further support market growth.
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The small electric motors market is segmented into traction motors, small motors for automotive, and small motors for consumer goods and industrial applications. Small DC motors for automotive include the motors used for air suspension, antilock braking system (ABS), vacuum pumps, forklift actuation, and cooling fans & blowers' motion. Furthermore, small DC motors for railways and aerospace applications involve high voltage motor, low voltage motor, cooling motor, HVAC compressor motors.
The electric motors market for the transportation sector is segmented based on end-use into OEMs and aftermarket. The OEMs are the equipment manufacturers using electric motors in their products. These include automobile, railways, and aircraft manufacturers. The industry's aftermarket segment is defined as the secondary market for these motors involved in the manufacturing, distribution, and installation of the product.
Some major findings of the Electric Motors Market for Transportation Sector report include:
- Major factors affecting the pricing of the electric motors are the steel pricing. Electrical steel sheet is utilized in the core of the traction motors of hybrid electric vehicles. Fluctuating demand of steel from various industries affect the price trends of the product.
- Traction motors are widely used in trains, two-wheelers and ATVs for various applications offering superior efficiency and low energy consumption and enhanced reliability, that is pushing its CAGR to over 6.5% by 2026.
- OEMs dominate the electric motor industry owing to higher demand for various applications including traction motor in electric vehicles, HVAC compressors, high-voltage cooling fan motor, etc., aiding it to maintain its over 80% market share in near future.
- Stringent government regulations boosting the implementations of electric motorbikes and hybrid passenger cars will boost the Europe electric motors market for the transportation sector growing with a CAGR of 4% by 2026.
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Table of Contents (ToC) of the report:
Chapter 3 Electric Motors Market Insights for Transportation Sector
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2026
3.2.1. COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.3 System integrators
3.3.4 Profit margin analysis
3.3.3. Value chain disruption analysis (COVID-19 impact)
3.3.5 Distribution channel analysis
3.4 Pricing analysis
3.4.1 By region
22.214.171.124 North America
3.4.2 Pricing parameters
3.4.3 Profit margin points
3.4.4 Penetration pricing
3.4.5 Pricing insights
3.4.6. COVID-19 effect on pricing
3.5 Cost structure analysis
3.5.1 Variable costs
3.5.2 Fixed costs
3.5.3 Comparison with peers
3.5.4 Key insights by industry experts
3.6 Technology landscape
3.6.1 Production methods
3.6.2 Key insights
126.96.36.199 Permanent magnetic motors
188.8.131.52 Switched reluctance motors
184.108.40.206 Piezoelectric motors
3.7 Regulatory landscape
220.127.116.11 National Electrical Manufacturers Association (NEMA) motor efficiency standards
18.104.22.168 International electrotechnical commission (IEC)
22.214.171.124 Minimum energy efficiency standard (MEPS)
126.96.36.199 Zero-emission vehicles (ZEV)
188.8.131.52 China Energy Labels for motors
184.108.40.206 Super-efficient equipment & appliance deployment
3.7.5 Summary of key policy measures and attributes
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.2 Industry challenges and pitfalls
3.9 Electric vehicle Production statistics
3.9.3 OEMs announcements on electric car ambitions
3.10 Innovation & sustainability
3.10.1 Key insights
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis
3.14 Competitive landscape, 2019
3.14.1 Current & future competitors
3.14.2 Company market share, 2019
3.14.3 Strategy dashboard
220.127.116.11 Acquisition targets
18.104.22.168 Opportunities for patent monetization/licensing
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Tags: Aftermarket, Electric Motors Market, Electric Motors Market size for Transportation Sector, OEM, Small DC Motors for Automotive, Small DC Motors for Railways and Aerospace Applications, Traction Motors