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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 ~6% 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, such as rise in usage of electronically commutated motors (<5HP) in a wide range of applications and increase in demand for highly efficient motors, thus propelling the global market for electronically commutated motors (<5HP).
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Electronically Commutated Motors (<5HP) Market: Dynamics
In terms of motor type, the electronically commutated motors (<5HP) market has been divided into brushless DC motors, Permanent Magnet AC (PMAC) motors, and servo motors. The demand for brushless DC motors is higher, globally. Based on product type, the electronically commutated motors (<5HP) market has been segmented into constant air flow, constant torque, and constant speed. Constant air flow is the most commonly sold electronically commutated motor (<5 HP) across the globe. Based on power, the market has been classified into below 1 HP, 1 HP – 2 HP, 2 HP – 3 HP, 3 HP – 4 HP, and 4 HP – 5 HP.
In terms of industry, the electronically commutated motors (<5HP) market has been categorized into consumer electronics, HVAC – residential, HVAC- commercial, automotive, packaging, material handling, industrial machine (robots and others), and others (printing machine, etc.). Consumer electronics, HVAC – residential & commercial, and industrial machine held major share of the market in the year 2020 in terms of value.
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Electronically Commutated Motors (<5HP) Market: Prominent Regions
In 2020, Asia Pacific and North America region together contributed more than 60% of revenue share to the global electronically commutated motors (<5HP) market. Various industries are shifting their manufacturing facilities to the APAC region. Therefore, the market in the region is anticipated to grow at the fastest rate during the forecast period. The market in Europe and North America is expected to expand steadily due to increasing demand for highly sophisticated medical devices. However, the demand is not stable in these regions as most end-use industries located in Europe and North America are shifting their production hubs to APAC to enhance their profit margins.
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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, Bühler Motor GmbH, and Kollmorgen Corp.
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