Transparency Market Research delivers key insights on the global electronically commutated motors (<5HP) market. In terms of revenue, the global electronically commutated motors (<5HP) market is estimated to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global electronically commutated motors (<5HP) market.
The global electronically commutated motors (<5HP) market is broadly affected by several factors that include these motors having gained immense popularity across the globe due to their high efficiency, performance, controllability, and reliability, which are factors expected to boost the global electronically commutated motors (<5HP) market during the forecast period.
Electronically Commutated Motors (<5HP) Market: Key Segments
The global market for electronically commutated motors (<5HP) has been segmented by motor type, product type, power, industry, and region. Based on motor type, the market has been divided into brushless DC motors, permanent magnet AC (PMAC) motors, and servo motors, wherein, brushless DC motors are projected to be highly sold motors across the globe from 2018 to 2030. It has been observed that demand for servo motors is expected to grow at a good pace in the upcoming years at the global level. In terms of product type, the electronically commutated motors (<5HP) market has been divided into constant airflow, constant torque, and constant speed. The constant airflow segment accounted for a leading share of the global electronically commutated motors (<5HP) market in 2019. The segment is projected to expand at a significant rate in the near future, as constant airflow electronically commutated motors (<5HP) can reduce air noise, provide soft start/stop, and change airflow as and when required.
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In terms of power, the global market for electronically commutated motors (<5HP) has been divided into below 1 HP, 1 HP – 2 HP, 2 HP – 3 HP, 3 HP – 4 HP, and 4 HP – 5 HP. Below 1 HP and 1 HP to 2 HP power together hold the major share and this type is expected to grow during the forecast period. This power range is expected to expand at a collective CAGR of 5% in North America. Consumer electronics holds major share in the global electronically commutated motors (<5HP) market. The increased use of ECM motors in the growth of this industry will lead to growth of up to 2 HP power segment in the forecast years. Based on industry, the global electronically commutated motors (<5HP) market has been divided into consumer electronics, HVAC – residential, HVAC- commercial, automotive, packaging, material handling, industrial machine (robots, others), and others (printing machine, etc.).
The HVAC segment for residential and commercial together held major share of the global electronically commutated motors (<5HP) market, followed by the consumer electronics segment. The heating & ventilation segment is anticipated to witness substantial growth during the forecast period. Manufacturers of electronically commutated motors (<5HP) are expanding their business to new geographies. End markets and applications of electronically commutated motors (<5HP) are diverse. The global electronically commutated motors (<5HP) market is strongly dependent on consumer electronics, heating & ventilation, industrial engineering, and others. The global electronically commutated motors (<5HP) market is estimated to expand at a rapid pace during the forecast period.
Electronically Commutated Motors (<5HP) Market: Prominent Regions
The global market for electronically commutated motors (<5HP) has been divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., France, Germany, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of the Middle East & Africa), and South America (Brazil and Rest of South America). Asia Pacific is likely to be the most attractive market for electronically commutated motors (<5HP) during the forecast period due to rapid industrialization and infrastructural development. Manufacturers are entering the Asia Pacific region in order to gain significant market share.
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North America and Europe are expected to be other major markets for electronically commutated motors (<5HP). Technological advancements and changing lifestyle of people living in urban areas, which is leading to a rise in demand for consumer electronics, are anticipated to drive the electronically commutated motors (<5HP) market in these regions. The growth of the HVAC sector and requirement of constant airflow will be key factors fueling the expansion of the electronically commutated motors (<5HP) market in North America and Europe.
The electronically commutated motors (<5HP) market in South America and Middle East & Africa is expected to witness slow growth during the forecast period.
Electronically Commutated Motors (<5HP) Market: Key Players
Key players operating in the global electronically commutated motors (<5HP) market are ABB Group, Siemens, Weg, Parker Hannifin Corp., Nidec Motor Corporation, ASTRO Motorengesellschaft mbH & Co.KG, Allied Motion Technologies Inc., Maxon motor AG, Buhler Motor GmbH, and Kollmorgen Corp.
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