The Europe Electric Motor Market is a rapidly growing industry that encompasses a wide range of motor types, including AC, DC, and servo motors. The market is driven by increasing demand from various end-use industries, such as automotive, manufacturing, and energy. The shift towards renewable energy sources and the growing adoption of electric vehicles are also driving the market’s growth.
The Europe Electric Motor Market is expected to garner $22.32 billion by 2022, registering a CAGR of 3.7% during the period 2016-2022.
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Top Leading Players
Ametek Inc., Siemens AG, Baldor Electric, Allied Motion Technologies Inc., ARC Systems Inc., Asmo Co Ltd, Brook Crompton UK Limited, Franklin Electric Co. Inc., Rockwell Automation, Inc., and Johnson Electric Holdings Ltd.
These players consistently launch new products to enhance their existing portfolios and expand their customer base. In addition, strategic alliances and mergers & acquisitions provide growth opportunities for geographical expansion and a wider market reach.
By type, the European electric motor market is segmented into alternative current (AC) motors, direct current (DC) motors, and hermetic motors. The AC motor segment dominated the market with around 70% share in 2014 and is expected to continue its dominance during the forecast period. This segment is further sub-segmented into synchronous AC motors and induction motors.
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Key findings of the study:
The European electric motor market is likely to grow at a moderate rate in the future, owing to increasing demand for products equipped with electric motors
AC motors would lead the market throughout the analysis period, while hermetic motors segment would witness the highest growth during 2016 – 2022
The application of electric motors in heating ventilation and cooling (HVAC) equipment sector is anticipated to register the highest CAGR of 6.4% during the forecast period
Germany would remain the highest revenue-generating country in this market throughout 2014 – 2022
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