Europe Electric Motor Market Introduction
End-user industries inclination towards integrated and highly efficient electric motor systems is progressing at a steady rate. Rise in the improvement of market transparency by meeting the mandatory minimum requirements—efficiency classes and standards—set for electric motors has played a significant role in the uptake of fixed speed motors among end-user industries in the recent past. Inefficient electric motors and systems can result in loss of money, motor manufacturers must spend on advertising and marketing activities to convince end-user industries to purchase their highly efficient motors.
Emerging trend of electric mobility owing to supportive government regulation and the shift in consumer preference is anticipated to increase the demand for high-performance electric motors in the region. Further, the huge rolling stock of old electric motors, increase in demand for installation of new electric motors, and growth in replacement market are some of the key factors that are anticipated to drive the growth of the electric motor market in the European region.
Continuous developments in electric motor efficiency standards and classes have brought a revolution in the electric motor manufacturing. Increased demand for automated equipment especially in agriculture, mining, and manufacturing sectors has created significant opportunities for key vendors operating in the European electric motor market. Further, the rise in the need for green vehicles to reduce carbon emissions has increased the demand for premium efficiency motors. For instance, The Chinese government has initiated measures to increase the adoption of efficient electric motors in vehicle production. This, in turn, is increasing the adoption premium efficiency motors for vehicle production.
The Europe electric motor market can be bifurcated by motor type and application. Based on the motor type, the market is bifurcated into alternative current (AC) motor and direct current (DC) motor segments. Based on application, the electric motor market is segmented into household appliances, motor vehicles, and industrial machinery & systems among others.
Major regions covered in the Europe electric motor market are Western Europe and Eastern Europe. In Western Europe, primary markets such as Italy, France, UK, Germany, Spain, and rest of Western Europe has been analyzed, whereas in Eastern Europe electric motor market major countries such as Poland, Russia, and rest of Eastern Europe has been covered.
Europe Electric Motor Market Competitive Landscape
Key players analyzed in the Europe electric motor market are Ametek Inc., Allied Motion Technologies Inc., Asmo Co Ltd, Rockwell Automation, Inc., Brook Crompton UK Limited, ARC Systems Inc., Siemens AG, Franklin Electric Co. Inc., Baldor Electric, and Johnson Electric Holdings Ltd.
This research report on europe electric motor market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.