US-based industry intelligence company Reportbuyer has stated that motor vehicle makers in the US, particularly those of hybrid and electric vehicles, will be the biggest consumers of electric motors through 2018.
The report says the market for electric motors in the US will grow by 5.4 percent a year till 2018 to $16.2 billion.
“In addition to an increase in total motor vehicle output, as well as a significant rise in H/EV production, gains will be spurred by the growing number of electric motor-dependent systems in the average vehicle,” Reportbuyer has stated.
The demand for AC motors in the US is expected to outpace that for DC motors and remain the largest product category set to gross $9.6 billion by 2018.
And a third of the incremental gain from AC motors is projected to come from motor vehicles, largely pushed by the rise in hybrid and electric vehicle (H/EV) production.
Hybrid and electric vehicles use integral horsepower AC synchronous motors for motive power. Such motors, therefore, should be the top revenue generator among the types produced.
Reportbuyer also says the demand for DC motors will approach $6.7 billion in 2018.
These motors are extensively used in transportation applications. Aerospace and other nonautomotive transportation equipment shipments will spur demand along with motor vehicles.
Universal motors, which can run on AC or DC power and are grouped with DC motors for the purpose of this study, are widely used in HVAC equipment and machinery, and higher shipments of these products will boost motor use.
Ajith Kumar S
editor@greentechlead.com