Potential Impact of COVID-19 on Electric Motors Market

Electric Motors Market: Overview

An electric motor is a motorized device that is utilized in the conversion of electricity into mechanical energy. It is just opposite to the functions of an electric generator. An electric motor operates on the principles of electromagnetism. These principles exhibit that during the presence of electric current in a magnetic field, force is applied.

Motors are utilized in an expansive range of diverse applications, such as hybrid cars, electric vehicles, appliances, power tools, and fans. Motors come with various working parts so as to keep on rotating and providing power continuously. Motors are capable of running off of either alternating current (AC) or direct current (DC). However, both the systems come with their share of drawbacks and benefits. Various factors such as acceleration, speed, angular movements, control, and torque requirements make AC motors a suitable choice for the manufacturers of robotic systems. Benefits and diverse applicability of the product is likely to support growth of the global electric motors market over the tenure of assessment, from 2019 to2027.

Type, application, speed, voltage range, and region are the four key parameters based on which the global electric motors market has been divided. The objective of such segmentation is to make an offering of a clearer, 360-degree view of the global electric motors market.

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Global Electric Motors Market: Notable Developments

One of the developments that provide a quick view into the market dynamics of the global electric motors market is mentioned below:

In June 2017, US-based leading manufacturer of electric motors, Arc Systems Inc. came up with a high-value invention – the squirrel cage induction electric motor with class-H insulation materials. This motor is able to sustain extremely high temperature. With this invention, Arc Systems Inc. is expected to widen its reach in the global market.

Some of the important players in the global electric motors market comprise the below-mentioned: