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Electric Motors Market (AC motors, DC motors, Hermetic motors) is expected to reach a value of USD 120.68 billion by 2019, at a CAGR of 6.3% from 2013 to 2019. The demand for energy efficient electric motors is rising globally due to the introduction of stringent electricity consumption standards and rising electricity prices. In addition, rising production of motor vehicles, home appliances and other electric motor driven systems is increasing the demand for electric motors. Moreover, stringent design and manufacturing standards in designing and manufacturing to improve efficiency of electric motors are encouraging global manufacturers to develop energy efficient motors. Demand trend for electric motors is steadily shifting from standard efficiency electric motors towards high energy efficient motors. However, lack of awareness about benefits of energy efficient electric motors and high initial purchase cost are inhibiting the growth of the energy efficient electric motors.
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