Press release
US Electric Motors Market Share Expected to Reach $42.07 billion by 2029
The global US electric motors market share is expected to grow from estimated $31.06 billion in 2024 to $42.07 billion by 2029, at a CAGR of 6.3% during the forecast period.
The global US Electric Motors Market [https://www.marketsandmarkets.com/Market-Reports/electric-motor-market-alternative-fuel-vehicles-717.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=electric-motors] share is expected to grow from USD 31.06 billion in 2024 to USD 42.07 billion by 2029, at a CAGR of 6.3% during 2024-2029. The electric motors market in US is growing as energy efficiency solutions become increasingly visible and demanded across all segments. Besides contributing renewable energy systems and electric vehicles to smart manufacturing, the country's electric motors are quite linked to the sustainability goals of the nation. Among the benefits reapable from the use of electric motors are reduction of energy, cost savings in operations, and the elimination of emissions from the overall energy portfolio. The adoption is further assisted through government policies and incentives that stimulate energy-efficient technologies. Innovations in motor technologies such as brushless DC motors and variable frequency drives have improved performance, reliability, and flexibility of applications hence promoting the growth of the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=717 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=717&utm_source=abnewswire.com&utm_medium=Referral&utm_campaign=electric-motors]
According to type, the US Electric motors market is classified as follows- AC motors, and DC motors. In modern buildings, AC motors are common in industrial and commercial applications. They are very durable and require minimum maintenance and efficiency very high. They are mostly used in heating, ventilation, and air conditioning, pumping systems and conveyors. These are some of the primary reasons for which the surge in renewable energy systems such as wind turbines will further increase the demand for AC motors. On the other hand, the DC motors majorly serve applications needing high accuracy and variable-speed classes such as robotics and electric vehicles aside from mobile equipment. It is the growing market for electric cars and developments in battery technology that is critical for the growth of the DC motor industry. Innovations like variable frequency drives and the IoT will prove beneficial for both motor types by further putting emphasis in better control, monitoring, and efficiency. All in all, demand is projected to increase in the market based on energy conservation and advances in technology.
The end-user segment of the US Electric motors market is made up of industrial, residential, commercial, transportation, and agriculture. In the industrial sector, the use of electric motors in automation for manufacturing processes, and more energy-efficient operations now demands efficient motors that will be used in conveyors, pumps, and robotic systems. The commercial field will thrive with more and more motors being used for HVAC systems, elevators, and escalators in pursuit of urbanization and energy efficiency. In the residential sector, common consumers adopt washing machines, refrigerators, and HVAC units that promise energy efficiency as affordable benefits with common views on environmental threats. On the other hand, the transportation segment is growing rapidly because of a rapid increase in the deployment of electric vehicles. In this respect, advanced electric motors have a major role in the future with respect to improving the efficiency, performance, and range of electric vehicles. In agriculture, motors are used mainly to power irrigation systems, sets of grain handling equipment, and automated feeder systems. The electric motor market in the US has achieved significant growth in nearly all of its end-use sectors because of technological advances and an improvement in the demand for engine works brought by the sustainability drive and changing needs of the industries.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=717 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=717&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=electric-motors]
Major players in the US Electric Motors Market include Regal Rexnord Corporation (US), AMETEK, Inc. (US), Allied Motion Technologies (US), Rockwell Automation (US), Franklin Electric (US), ABB (Switzerland), Siemens (Germany), and Nidec Corporation (Japan) among others. These companies focus on innovation, product development, and strategic partnerships to cater to the growing demand for elevator component market.
About MarketsandMarkets Trademark :
MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets Trademark .com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Trademark INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com [mailto:newsletter@marketsandmarkets.com]
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=us-electric-motors-market-share-expected-to-reach-4207-billion-by-2029]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/electric-motor-market-alternative-fuel-vehicles-717.html
The global US Electric Motors Market [https://www.marketsandmarkets.com/Market-Reports/electric-motor-market-alternative-fuel-vehicles-717.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=electric-motors] share is expected to grow from USD 31.06 billion in 2024 to USD 42.07 billion by 2029, at a CAGR of 6.3% during 2024-2029. The electric motors market in US is growing as energy efficiency solutions become increasingly visible and demanded across all segments. Besides contributing renewable energy systems and electric vehicles to smart manufacturing, the country's electric motors are quite linked to the sustainability goals of the nation. Among the benefits reapable from the use of electric motors are reduction of energy, cost savings in operations, and the elimination of emissions from the overall energy portfolio. The adoption is further assisted through government policies and incentives that stimulate energy-efficient technologies. Innovations in motor technologies such as brushless DC motors and variable frequency drives have improved performance, reliability, and flexibility of applications hence promoting the growth of the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=717 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=717&utm_source=abnewswire.com&utm_medium=Referral&utm_campaign=electric-motors]
According to type, the US Electric motors market is classified as follows- AC motors, and DC motors. In modern buildings, AC motors are common in industrial and commercial applications. They are very durable and require minimum maintenance and efficiency very high. They are mostly used in heating, ventilation, and air conditioning, pumping systems and conveyors. These are some of the primary reasons for which the surge in renewable energy systems such as wind turbines will further increase the demand for AC motors. On the other hand, the DC motors majorly serve applications needing high accuracy and variable-speed classes such as robotics and electric vehicles aside from mobile equipment. It is the growing market for electric cars and developments in battery technology that is critical for the growth of the DC motor industry. Innovations like variable frequency drives and the IoT will prove beneficial for both motor types by further putting emphasis in better control, monitoring, and efficiency. All in all, demand is projected to increase in the market based on energy conservation and advances in technology.
The end-user segment of the US Electric motors market is made up of industrial, residential, commercial, transportation, and agriculture. In the industrial sector, the use of electric motors in automation for manufacturing processes, and more energy-efficient operations now demands efficient motors that will be used in conveyors, pumps, and robotic systems. The commercial field will thrive with more and more motors being used for HVAC systems, elevators, and escalators in pursuit of urbanization and energy efficiency. In the residential sector, common consumers adopt washing machines, refrigerators, and HVAC units that promise energy efficiency as affordable benefits with common views on environmental threats. On the other hand, the transportation segment is growing rapidly because of a rapid increase in the deployment of electric vehicles. In this respect, advanced electric motors have a major role in the future with respect to improving the efficiency, performance, and range of electric vehicles. In agriculture, motors are used mainly to power irrigation systems, sets of grain handling equipment, and automated feeder systems. The electric motor market in the US has achieved significant growth in nearly all of its end-use sectors because of technological advances and an improvement in the demand for engine works brought by the sustainability drive and changing needs of the industries.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=717 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=717&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=electric-motors]
Major players in the US Electric Motors Market include Regal Rexnord Corporation (US), AMETEK, Inc. (US), Allied Motion Technologies (US), Rockwell Automation (US), Franklin Electric (US), ABB (Switzerland), Siemens (Germany), and Nidec Corporation (Japan) among others. These companies focus on innovation, product development, and strategic partnerships to cater to the growing demand for elevator component market.
About MarketsandMarkets Trademark :
MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets Trademark .com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Trademark INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com [mailto:newsletter@marketsandmarkets.com]
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=us-electric-motors-market-share-expected-to-reach-4207-billion-by-2029]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/electric-motor-market-alternative-fuel-vehicles-717.html
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