Research and Markets: Industrial Motors Market in the APAC Region 2015-2019: Emergence of Smart Electric Systems with ABB, Mitsubishi Electrics & Siemens Dominating
By Business Wire News
By Business Wire News
Research and Markets (http://www.researchandmarkets.com/research/bvrjsp/industrial_motors) has announced the addition of the “Industrial Motors Market in the APAC Region 2015-2019” report to their offering.
The Industrial Motors market in the APAC region to grow at a CAGR of 9.24% over the period 2015-2019
Motors are used to convert electrical energy into mechanical energy. Depending on the type of industrial applications, industrial motors are classified into two: medium-voltage motors and low-voltage motors. These motors are used by industries such as the Oil and Gas, Power Generation, Mining and Metal, Water and Wastewater, and Others.
The report covers the present scenario and the growth prospects of the Industrial Motors Market in APAC region during the period 2015-2019. The Industrial Motors market in the APAC region can be segmented into the following: Low-voltage Motors and Medium-voltage Motors.
The major trend positively influencing the Industrial Motors market in the APAC region is the development of infrastructure and urbanization in the developing regions of the world such as Brazil, India, and China. The automation of the process in end-user plants has also led to higher demand for electric process equipment over fluid power technology because of benefits such as remote operation and diagnostics.
According to the report, the most important driver leading to higher growth of the Industrial Motors market in the APAC region is the continuous growth of end-user industries across the world. The Oil and Gas, Food and Beverage, and Power Generation industries are a few of the major customers of industrial motors that have been expanding in regions of North America and Asia, growing the demand for industrial motor sales.
Further, the report states that emphasis on refurbishment of old equipment over purchase of new equipment and the high level of competiveness between the low-cost suppliers is one of the key challenges in the market. The increased level of competiveness between the market players has led to lower margins and decreasing overall market revenue.
- Mitsubishi Electrics
Other Prominent Vendors
- Fuji Electric
- General Electric
- Rockwell Automation
For more information visit http://www.researchandmarkets.com/research/bvrjsp/industrial_motors
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