Hi Academias
The rising population worldwide and the growing urbanization rates have led to a rise in demand for housing and other commercial and industrial infrastructure facilities. This, coupled with the growing environmental consciousness, is leading to an increased adoption of electric motors in various industries, including heavy industrial equipment and machinery, due to their properties like durability, high efficiency, and low energy consumption, along with a high endurance for fluctuating voltages. Moreover, with the increasing disposable income and need for transportation, consumers are exceedingly investing in personal passenger vehicles. With subsequent technological advancements, electric cars are being introduced in the market, which is expected to reduce the usage of fossil fuel-based energy resources and increase the demand for electric motors that enhance the utility of electric vehicles, thus, aiding the market growth. Furthermore, the increased investments in the research and development of electric motors by the leading manufacturers are expected to positively impact the market growth in the forecast period.
Yup…the researchers around the world have been looking for any ways to make EV being able to be quickly commercialized, bringing its advantages to rising population.
EV makers keep looking for ways to address the range anxiety of their battery-powered vehicles. One of the options is to increase the size of the battery pack, which also increases the weight of the vehicle, and creating more problems to solve. The other option is to reduce the weight of the electric motors, and the way to do so is by increasing their speed. A motor spinning at high speed can be shrunken in size, which can reduce not only its weight but also its energy consumption. When applied to an EV, it can help increase the range with the same battery pack.
By more advancement of EV qualities which are supported by continuous research investment, EV becomes more convenience continuously having more positive welcome to wider communities , that’s why electric motors market is estimated to grow exponentially amid increasing demand for systems among residential, commercial, and industrial end-users, growing demand for electric motors in manufacturing industries, and rising demand for energy-efficient motors are the major driving factor for the electric motors market. Industrial segment is expected to emerge as the largest segment based on end-user
Europe is expected to be the second-fastest growing market due to the advancements in machinery and industrial equipment and their increased deployment in the region are expected to drive the growth of the electric motors market in Europe. The Asia Pacific also to Occupy a Substantial Market Share in the Global Electric Motors Industry
The Asia Pacific is estimated to hold a substantial share of the electric motors industry in the forecast period. This growth can be attributed to the increased industrialization in the region, which is leading to a rise in demand for electric motors in various industry verticals. Moreover, the government is increasingly investing in the production and implementation of electric motors in the manufacturing of automobiles, the construction industry, and mining activities. Furthermore, electric motors are also utilized in the agriculture sector in countries like India, where a significant population relies on agricultural practices. These factors are estimated to positively influence the growth of the electric motors industry.
In Indonesia too The Ministry of Energy and Mineral Resources (ESDM) stated that the use of Battery-Based Electric Vehicles would save up to IDR 2.77 million per year in fuel consumption.
Secretary General of the Ministry of Energy and Mineral Resources Rida Mulyana said this step was taken if the user had converted from a conventional motorbike using fuel oil (BBM) to an electronic motor. That’s leading to growth of electric motors population in Indonesia alone.
Let the world greener and be better place to live.
Salam Sehat dan Semangat
Bambang Purnomo , SS-BA, CSCA, CAVM Solution Consultant
By Bams – March 06, 2023
