Electric Motors Market Competitive Dynamics, Size, Share and Global Outlook by forecast 2023

Electric Motors Market Overview

Furthermore, other factors that are causing traction in global Electric Motors market growth include technological advancements in the electric motors and the advent of better insulation materials. Also, a longer life span of the product, improved operational efficiency, and a higher tolerance towards fluctuating voltages are anticipated to showcase substantial growth in the global Electric Motors Market Size.

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Prominent Players

The report has profiled some of the key players in the global Electric Motors Market Size including Bosch GmbH (Germany), Chengdu Huachuan Electric Parts Co. Ltd.

Industry Update

February 2019: Yasa has announced its engagement in a long-term innovation agreement with a global original equipment manufacturer. The partnership will focus on the development of custom electric motor and controller solutions of the OEMs high-performance hybrid and pure electric vehicles. Yasa is a world’s leading axial-flux and controllers manufacturer.

February 2019: Amazon has led an investment round of 700 million in the electric vehicle startup Rivian, elevating the startup to unicorn status by driving its value to over a billion dollars. Rivian Automotive is a Michigan based startup producing the world’s first electric adventure vehicles.

Segmental Analysis

The global Electric Motors Market Size is segmented on the basis of installation position and by function. By installation position, the market for Electric Motorss is segmented into body motors, chassis motors, and powertrain motors. By function, the market has been segmented into small sized Electric Motorss, automotive starters, and alternators.

Regional Analysis

The global Electric Motors Market Size is regionally segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). According to the report published by Market Research Future, the Asia Pacific is estimated to dominate the Electric Motors Market Size during the forecast period.

North America and Europe are experiencing high awareness of the use of energy efficient Electric Motorss, contributing to significant market growth in the regions. Further, the lower cost of purchasing and maintenance are is driving substantial growth in the Electric Motors Market Size during the forecast period. In North America, countries like the U.S and Canada are estimated to garner major growth. Whereas, in Europe, countries including France, Germany, Spain, and the United Kingdom are anticipated to showcase proliferation in market growth.

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