The global electric motors market is fragmented international players. Players within the market are competing with each other on the basis of quality as well as reduced price. Players are also improving the standard of products so as to have a competitive edge above all others, as per Transparency Market Research (TMR). Consumers are benefiting from high bargaining power. Product differentiation and standardization is difficult to achieve in the global electric motor market, observes TMR. The key players within the global electric motors market include Baldor Electric Company, Regal Beloit, AMTEK, Asmo Co Ltd, and Danaher.

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According to TMR, the global electric motor market will be worth US$120.68 bn by 2019. On the basis of geography, it is expecting that Asia Pacific is the leading regional market as well as the fastest growing regional segment for electric motors, thanks to the supreme industrial growth witnessed in India and China. Rapid industrialization in countries such as Thailand, Indonesia, and Malaysia are also contributing significantly to the growth of electric motors market in Asia Pacific.

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On the basis of output power capacity, the global electric motors Market is segmented into fractional horsepower and integral horsepower motors. Of these, fractional horsepower segment lead in the market. However it is estimated that the integral horsepower motors will witness a rapid growth in terms of CAGR in the years to come. The main reason behind the high demand for integral horsepower motors is stringent electricity consumption rules. The growing importance of Energy Efficiency will create a heightened demand for energy-efficient electric motors within industrial sectors.

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On the basis of application, the global market for electric motors is segmented into industrial Machinery, Motor Vehicles, Aerospace, transportation equipment, HVAC equipment, and household appliances. Of these, it has been found that the demand for electric motors is highest from the motor vehicle segment. of late, the tremendous increase in the interest in electric vehicles by many countries in the world is driving the demand for electric motors extensively from the automotive industry. Some of the countries which are at the forefront of the electric vehicle adoption trend include Germany, China, United States, Japan, and India.