World Demand for Electric Motors to Reach $122.5 Billion in 2017
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November 1, 2013 (Investorideas.com renewable energy stocks newswire) World demand for electric motors is projected to increase 6.5 percent per year to $122.5 billion in 2017. In the mature motor markets of the US and Western Europe, growth in demand will be driven by rebounding motor vehicle production and a healthier fixed investment environment. In nations where electric motor markets are still developing, sales will be fueled by rapidly growing durable goods manufacturing and the increasing ability of the average consumer to purchase items like automobiles and household appliances. Alternating current (AC) motors account for more than half of the global market for electric motors, with the balance being direct current (DC) models. These and other trends are presented in World Electric Motors, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
The Asia/Pacific region will be the largest source of market growth through 2017. Regional electric motor demand is expected to climb 7.9 percent per year, accounting for more than 70 percent of all sales increases between 2012 and 2017. The vast majority of these gains will be registered in China, tied with India for the fastest pace of increase of the major markets in the world. Chinese electric motor sales will be stimulated by rapidly expanding production of a number of durable goods in a strong fixed investment environment. In 2017, China will account for almost two-fifths of world electric motor demand, and product sales in the nation will be greater than the market total for Japan, North America, and Western Europe combined.
Overall electric motor demand in the large mature markets of the US and Western Europe will expand faster than it did during the 2007-2012 period. In both the US and Western Europe, manufacturing activity -- especially motor vehicle output -- plummeted between 2007 and 2009, before strengthening during the 2010-2012 period. Electric motor sales followed a similar pattern, falling between 2007 and 2009 before turning upward in recent years as manufacturing output recovered. In addition to rising domestic motor vehicle output, market gains in these nations will be bolstered by growing exports of industrial and other durable goods to the developing world. Demand for electric motors in Japan, another sizable, developed market, will decelerate through 2017 as manufacturers move production of many motor dependent durable goods like household appliances to lower labor cost countries.
World Electric Motors (published 10/2013, 425 pages) is available for $6100 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail email@example.com. Information may also be obtained through www.freedoniagroup.com.
A limited license to use or reprint information from this news release is granted to you provided attribution for the same – including, if possible, the price of the report – is given to The Freedonia Group, Inc. (Cleveland, OH). We would also appreciate the courtesy of receiving a copy of the article or publication in which we appear.
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