Electric motors refer to the device that converts electrical energy into mechanical energy. Electric motors find its application in several fields such as motor vehicles, industrial machinery, transportation, household appliances, and agriculture. The global electric motor market is primarily driven by increasing usage of electric motor across several industries, increasing compliance for energy efficient electric motors, growing demand from residential and commercial sectors, and increasing replacement of out dated electric motors.
The key trend observed in the global electric motor market is the development of high power to weight ratio for electric motors. Vendors are developing electric motors with high power to weight ratio as large electric motors have portability and high energy consumption issues. In April 2015, Siemens researchers developed a new type of electric motor with a weight of 50 kilograms. The company claims that the motor delivers a continuous output of about 260 kilowatts – five times more than comparable drive systems. The motor was specially designed for use in aircraft.
Larger electric motors transmit more power in their respective applications. However, portability of electric motors is a key disadvantage of these motors. For higher and better performance, vendors manufacture electric motors of larger size for different industrial and commercial applications. These motors require high energy, thus creating additional burden to its overall cost. Size of these motors is dependent on the electric supply and voltage at the site of applications; therefore, its weight and size are to needed to be maintained. Portability of large electric motors and the systems driven through it are the major concerns for its vendors.
The key players in the global electric motor market are AMETEK, Inc., Johnson Electric Holdings Limited, ASMO Co., Ltd., Franklin Electric Co., Inc., Robert Bosch GmbH, Denso Corporation, Siemens AG, SL Montevideo Technology, Inc., ARC Systems, Inc. and ABB LTd.
