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China heads for 40% of global demand for electric motors

29 October, 2013

China will account for almost 40% of the global market for electric motors by 2017, with motor sales in China outstripping those of Western Europe, North America and Japan combined. This prediction is made in a new report from the Freedonia Group which forecasts that global demand for electric motors will grow by 6.5% per year in the period to 2017, when the global market will be worth $122.5bn.

The Asia-Pacific region will be the fastest-growing market and is forecast to grow at around 7.9% per year. Most of this growth will occur in China, which is tied with India as being the fastest-growing major market for motors. Chinese motor sales will be stimulated by the rapid expansion of durable goods production.

Demand for motors in the large mature markets of the US and Western Europe will expand faster than it did during 2007–2012, says Freedonia. In both regions, manufacturing activity – especially motor vehicle output – plummeted between 2007 and 2009, before strengthening between 2010 and 2012. Motor sales followed a similar pattern, falling between 2007 and 2009, before rebounding in recent years as manufacturing output recovered.

Sales of motors in the US and Western Europe will also be bolstered by growing exports of industrial and other durable goods to the developing world, according to Freedonia.

Demand for electric motors in Japan – another sizable, developed market – will slow down in the period to 2017 as manufacturers move production of many motor-dependent durable goods, such as household appliances, to countries with lower labour costs.

Global demand for electric motors ($bn)
Source: The Freedonia Group

In nations where electric motor markets are still developing, sales will be fuelled by expanding production of durable goods and the increasing ability of consumers to buy items such as cars and domestic appliances.

AC machines account for more than half of the global market for electric motors, says Freedonia, with the balance being DC models.

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