☰
The electric motors market for transportation sector might cross USD 20 billion by the year 2026 Shifting trends toward renewable energy alternatives coupled with increasing presence of electric motor manufacturers with large scale production capabilities could enhance business outlook over the forthcoming years.
The electric motors market is expected to gain traction in the transportation sector given to growing concerns over climatic change and carbon emissions. Numerous countries over the world are imposing strict policies and c to promote the adoption of sustainable transportation alternatives that have a minimum impact over the environment.
Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/2144
Manufacturing firms in the transportation sector catering to the increasing demands of products and rising innovative enhancements in the automotive industrial products pertaining to customer requirements are driving the electric motors market sales for transportation sector. Varying industrial demands of electrical steel sheet used as the core of traction motors for hybrid electric vehicles is a factor affecting the product development.
Manufacturers are implementing several marketing strategies to improve product penetration by promoting hybrid vehicles to augment the overall electric motor industry sales. The ability to enhance the efficiency of the automobiles by lowering the gross weight will foster the expansion of electric motors market in transportation sector.
In terms of small electric motors, the industry is mainly bifurcated into motors for automotive, traction motors, and motors for industrial applications and consumer goods. Out of these, the traction motor segment is expected to generate sizable revenues while maintaining a CAGR of more than 6.5% by 2026. These motors are massively used in two-wheelers, ATVs and trains for a variety of applications. They offer features like low energy consumption, enhanced reliability, and superior efficiency.
However, the COVID-19 pandemic has caused a steep drop in product consumption across the transport industry. The sector is considered as one of the most badly hit business areas during this pandemic and is currently experiencing a steep descent in growth. Analysts predict that COVID-19 might have a long-term impact on the travel behavior of people worldwide.
Electric motors market in transportation sector is fragmented on end use into OEMs and aftermarket. On comparison, OEMs largely influence the electric motor industry and are anticipated to hold 80% of the total global market share in the fore coming years for their extensive use in various applications like traction motors in manufacturing of electric vehicles and use of high-voltage cooling fan motor and HVAC compressors.
The OEMs are automobile, railways, aircraft or other equipment manufacturers utilizing electric motors in their products. The electric motors aftermarket segment in the transport sector can be recognized as a dominant and secondary area for distinct applications of manufacturing, distribution, and installations of the product. Both the OEMs and aftermarket segments are predicted to considerably impact the overall industry growth value.
Prominent industry players like Siemens, Hyosung, WEG, Robert Bosch, Regal Beloit, ABB, Buhler Motor Gmbh, Toshiba, General Electric, Allied Motion Technologies, and Shandong are constantly focusing on developing their product offering and production capacities to expand their market share.
Get This Report Customized To Your Requirements@ https://www.decresearch.com/roc/2144
Some Point from Table of Contents:
Data Tables
TABLE 1. Electric motors industry 3600 synopsis, 2016 – 2026
TABLE 2. Electric motors market in transportation sector estimates and forecast, 2016 – 2019, (Million units) (USD Million)
TABLE 3. Electric motors market in transportation sector estimates and forecast, 2020 - 2026, (Million units) (USD Million)
TABLE 4. Comparison of motor by type
TABLE 5. Electric motors industry in transportation sector volume estimates and forecast by motors, 2016 – 2019 (Million units)
TABLE 6. Electric motors industry in transportation sector volume estimates and forecast by motors, 2020 - 2026 (Million units)
TABLE 7. Electric motors industry in transportation sector revenue estimates and forecast by motors, 2016 – 2019 (USD Million)
TABLE 8. Electric motors industry in transportation sector revenue estimates and forecast by motors, 2020 - 2026 (USD Million)
TABLE 9. Electric motors market in transportation sector volume estimates and forecast by end-use, 2016 – 2019 (Million units)
TABLE 10. Electric motors industry in transportation sector volume estimates and forecast by end-use, 2020 - 2026 (Million units)
Browse complete Table of Contents (ToC) of this research report @
https://www.decresearch.com/toc/detail/electric-motors-market
Browse Related Report:
Global electrical conduit market is poised to witness appreciable growth in the coming years owing to increasing efforts towards containing electric supply faults, health hazards, fire, and other operational breakdown. Electrical wiring is directly ...
GCC natural gas market has been a recipient of the concerns related to energy security and climatic changes due to increasing fossil fuel consumption. In a bid to strengthen the regional sustainable energy scenario, GCC countries including Kuwait, UA...
The shifting focus of European countries toward energy efficiency is certain to act as a driving force for Europe residential boiler industry. The increasing awareness about the adverse effects of fossil fuel consumption for energy generation has bee...
© 2024 groundalerts.com. All Rights Reserved.
