Electric Motors Market in US Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025
Technavio has been monitoring the electric motors market in US and it is expected to grow by $ 5.25 bn, accelerating at a CAGR of almost 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Electric Motors Market in US: Key Trends to impact market growth
This electric motors market in US is segmented by product: AC motor, DC motor, and hermetic motor; end-user: automotive, household appliances, HVAC, industrial machinery and others; and output FHP and IHP. High demand for AC motors from the industrial machinery segment is expected to be a significant factor driving market growth.
Electric Motors Market in US: Top Drivers to Boost Demand
The increase in demand for automated equipment in industrial premises is one of the primary factors driving the growth of the electric motors market in US. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: ABB Ltd., Franklin Electric Co. Inc. and General Electric Co. are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Franklin Electric Co. Inc., General Electric Co., Hitachi Ltd., Johnson Electric Holdings Ltd., Nidec Corp., Rockwell Automation Inc., Siemens AG, Toshiba Corp., and WEG Equipamentos Eletricos SA are some of the major market participants.
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Electric Motors Market in US: Key Highlights of the Report for 2021-2025