Electric Motors Market Procurement Intelligence Report

SpendEdge has been monitoring the global electric motors market and the market is poised to experience spend growth of more than USD 30 billion between 2017-2022 at a CAGR of over 6% during the forecast period. Request Free Sample Pages.

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SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Electric Motors Market Procurement Intelligence Report. (Graphic: Business Wire)

Read the 90-page research report with TOC and LOE on “The Global Electric Motors Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”

The growing concern over the environmental impacts after the combustion of fuels is driving consumers towards electric vehicles that have lesser environmental footprints. This will act as one of the chief spend accelerators in the electric motors market during the forecast period. The rapid industrialization coupled with urbanization across the emerging economies will drive the consumption of HVAC and home appliances. This will supplement demand growth in the electric motors market.

In terms of regional spend growth, APAC has the largest share in the electric motors market. Factors like the growth of the HVAC segment, rising adoption of EVs, and increasing industrialization will continue to favor spend growth in this market. In Europe, the presence of stringent regulations pertaining to the use of energy-efficient equipment will promote the demand for electric motors and will continue to accelerate spend momentum in the electric vehicles market in Europe.

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The Top Electric Motors Suppliers Enlisted in this Report:

According to the forecasts, a substantial hike in suppliers’ OPEX will eschew their profit margins. This will compel them to increase the price of the finished product. However, strategic cost-control initiatives, price forecasting techniques, and adequate technology adoption will aid electric motors suppliers to sustain their profit margins. Such suppliers will have the liberty to offer service to buyers at competitive rates without affecting their profit margins. On this note, this report has listed the top electric motors suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market. Insights into some of the suppliers’ portfolio are given below:

ABB– ABB is a leading MNC and a pioneer of industrial automation. It has a wide range of application areas across industries such as power and energy, oil and gas, construction, and food and beverages. ABB holds the world record of manufacturing synchronous motors that can achieve an energy efficiency of 98.8%. The efficiency improvement can save approximately USD 500,000 in energy costs over a 20-year lifetime for each motor.

SIEMENS- Siemens has gained prominence in the fields of electrification, automation, and digitalization. It is also a major supplier of power generation and transmission systems and medical diagnosis systems. In 2016, Siemens was awarded the PPMA and the MHEA awards for its innovative work in industrial automation and plant upgrade improvements.

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