Paul Thomen

Thursday, 4 April 2013

US Demand For Electric Motors Worth 4.5 Percent Annually By 2017

This study analyzes the US electric motors industry. It presents historical demand data (2002, 2007, 2012) and forecasts for 2017 and 2022 by type (e.g., fractional horsepower AC and DC, integral horsepower AC and DC, and hermetic motors) and market (e.g., motor vehicles; appliances; heating, cooling and air conditioning; industrial machinery; commercial equipment; aerospace and defense; and other markets). The study also considers market environment factors, details industry structure, evaluates company market share and profiles industry players.

US demand to rise 4.5% annually through 2017
US demand for electric motors is expected to increase 4.5 percent annually through 2017 to $14.3 billion, accelerating from the 2007-2012 period when nearly every major market for these devices struggled. Product sales will climb 2.3 percent per year in unit terms to 1.4 billion in 2017. Electric motors are key components in many durable goods, and, as manufacturing output rises, sales of electric motors are expected to follow.

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AC motors to remain largest product segment
The market for AC motors will grow the most in absolute terms, and remain the largest product segment in 2017. However, due to the large size of this market, AC motors will post the slowest gains among product categories in percentage terms. AC motors are used in a myriad of applications, including household appliances and heating and cooling equipment, shipments of which are forecast to rise with renewed strength. Dollar increases will also be supported by producers upgrading to more energy efficient motors.

Demand for direct current (DC) motors, the second largest product segment, will expand faster than sales of AC motor but slower than those of hermetic motors through 2017. DC motors are used extensively in automotive applications, and suppliers will benefit from growth in motor vehicle output following an extended period of decline. Hermetic motors (which are permanently sealed to prevent the transmission of air, moisture vapor, and other gases) will register the fastest market advances of any motor product segment, despite being the smallest in dollar terms. Gains will primarily be driven by the favorable outlook for shipments of heating and cooling equipment and household appliances, with expanding aerospace and industrial machinery output also contributing to sales increases.

Heating, cooling equipment to be fastest growing market
Among major markets, heating and cooling equipment applications are projected to register the fastest sales growth in percentage terms through 2017, bolstered by increases in building construction after a prolonged period of weakness. The motor vehicle market will record the second most rapid gains as automotive production rises and the number of electric motor-dependent systems in the average vehicle continues to climb. Growing demand for electric traction motors used in hybrid/electric vehicles will also contribute to automotive sales gains, although this will remain a small market in absolute terms. Sizable advances are forecast as well for aerospace and other transportation equipment motor applications, as air traffic expands along with economic activity and more households purchase recreational products such as boats or campers.

FHP motors to remain dominant product category
Fractional horsepower (FHP) motors, those with a horsepower rating of less than one, are expected to remain the dominant product category in 2017 in both value and volume terms. This will be due to their extensive use in the mechanical systems of products ranging from aerospace and heating and cooling equipment to motor vehicles, all of which will experience an increase in shipments. Demand for integral horsepower (IHP) motors (those with a horsepower rating of one or greater), however, is expected to grow faster than FHP motor consumption as industrial users upgrade to more energy efficient IHP motors.

Company Profiles
Profiles for 32 competitors such as ABB, AMETEK, Emerson Electric, GE, Nidec, Regal Beloit, and Siemens
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