Technavio Says Wide Adoption of Electric Vehicles through 2019 Will Impact the Growth of the Global Electric Motors Market
May 18, 2015 | By Business Wire News
LONDON
Technavio has published a new market research report on the global electric motors market, which is expected to grow at a CAGR of 6% from 2015-2019.
Electric Motors: About the Report
According to the latest report by Technavio, the global electric vehicles market is predicted to reach 7.5 million units in the next five years. Fluctuating fuel prices, depleting fossil fuel reserves and environmental concerns are impacting the global electric vehicle market significantly.
“An increasing number of consumers are adopting electric vehicles, which is expected to broaden their adoption and boost the sales of these vehicles, during the forecast period,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also draws attention towards stringent electricity consumption standards and rising energy prices that are driving greater demand for energy-efficient electric motors all over the world.
“Vendors are forced to implement various standards and regulations that govern the manufacturing of energy-efficient electric motors, which is likely to contribute to market growth in the coming years,” says Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global electric motor marketfrom 2015-2019. To calculate the market size and vendor shares, the report considers revenue generated from:
- Sales of different types of electric motor
- Provision of maintenance and support
Key Information Covered in the Report:
- Key Vendors:
- ABB Ltd.
- AMETEK Inc.
- Danaher Motion LLC
- Emerson Electric Co.
- Faulhaber Group
- Market Growth Drivers:
- Increased adoption of electric vehicles
- For a full detailed list, view our report.
- Market Challenges:
- Highly fragmented market
- For a full detailed list, view our report.
- Market Trends:
- Adoption of energy-efficient motors
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the motor market:
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150518005489/en/
Technavio Research
Jes Ellacott
US: +1-630-333-9501
UK: +44 208 123 1770
Media & Marketing Executive
www.technavio.com
media@technavio.com
