The global electronically commutated motors market was valued at ~US$ 13 Bn in 2018, and is expected to grow at a CAGR of ~6% from 2019 to 2027. The global electronically commutated motors market is expanding significantly, in terms of size and value, due to the expansion of the HVAC and consumer electronics sector.
Asia Pacific holds a major share of the global electronically commutated motors market, followed by North America. Key players largely depend on geographical expansion, promotions, and technological advancements in order to cater to customer demand and gain a competitive edge in the global electronically commutated motors market.
Asia Pacific accounted for ~41% share of the global electronically commutated motors market in 2018, followed by North America and Europe. It is anticipated to maintain its dominance in the global electronically commutated motors market during the forecast period. This is due to rapid industrialization and urbanization in the region.
The global electronically commutated motors market is expected to grow to a value of ~US$ 21.5 Bn by 2027.
Rise in the demand for energy-efficient products is expected to drive the global electronically commutated motors market during the forecast period.
Environmental concerns and rise in the demand for electric vehicles is boosting the global electronically commutated motors market in Asia Pacific.
Electronically commutated motors offer various advantages over conventional motors. Their higher efficiency helps in energy saving, increased operational lifespan, cooler operations, and user comfort. These factors are estimated to drive the global electronically commutated motors market during the forecast period.
Smart synchronous permanent magnet motors might act a restraint for the global electronically commutated motors market. Smart synchronous permanent magnet motors eliminate the use of electronics and use a coil for any surge in the line. The elimination of power conversion saves energy and increases efficiency of the system.
The global electronically commutated motors market includes several players who are focused on the development of new products to cater to changing consumer preferences.
The report includes the below mentioned pointers of major players operating in the global electronically commutated motors market:
Company Overview
Product Profiling
Market Share Analysis (2018)
Product Innovation
Business Strategies / Recent Developments
Technological advancements
Key mergers & acquisitions
Expansion strategies
Company Financial
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About the Author
Sakshi Mishra Joined: July 22nd, 2019 Articles Posted: 530
