The electric motor and generator market has witnessed considerable technological advancement in the recent years due to which the demand for high efficient electric motor and generator system is gaining pace.
Electric motor is an electro-mechanical device, which converts electric energy into kinetic energy, and similarly the electric generator converts kinetic energy into electrical energy.
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Based on the different applications of electric motor and generator the market can be classified as industrial machinery, heating ventilating and cooling (HVAC) equipment, motor vehicles, aerospace and transportation, household appliances, and other application.
The improvement in energy efficiency of electric motors increasing demand of electric motor and generator from agricultural and industrial sector, growing application of HVAC system, and rising demand of electric and hybrid vehicle are some of the major drivers of the electric motor and generator market in the recent years.
Asia Pacific has been the largest and fastest growing market of electric motor and generator in 2014. Asia Pacific region is expected to maintain its dominance even during the forecast period, attributed to the rising demand of electric motor and generator from automotive, and other industrial sector from China and India.
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Some of the competitors in the global electric motor and generator market are Asmo Co Ltd., Arc Systems, Brook Crompton, Danahar Motion LLC, Ametek Inc., Rockwell Automation, Franklin Electric Co., Inc., Siemens Ag, Johnson Electric Holdings Ltd., Ametek Inc., Allied Motion Technologies Inc., Baldor Electric Company, and Siemens among others.
This post was originally published on Financial Sector