Electric Motors Market in Transportation Sector is slated to grow exponentially owing to the rising adoption of electric motors in passenger cars and commercial vehicles. Besides, the rising availability of customized options has amassed massive traction, thereby bolstering the market demand through 2032.
The key players in the global electric motors market in transportation sector are continuously incorporating strategic initiatives such as mergers and acquisitions, partnerships, and launching new products to strengthen their position in the industry. For instance, In July 2021, RBC Bearings acquired manufacturer ABB - DODGE Mechanical Power Transmission Business from ABB in a deal worth USD 2.9 billion. With this deal, RBC Bearings is expected to reduce its dependency on the aerospace industry, which was severely affected by the COVID-19 pandemic.
Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2144
Overall, the electric motors market in the transportation sector is divided in terms of motor, end-use, and region.
Considering the motor, the small DC motors for railways and aerospace application segment is expected to reach over USD 5.5 billion by 2032. The growth can be credited to the increasing deployment of DC motors in applications that need superior performance at low speed with augmented efficiency. In addition, the rising demand for modern devices with precise operational requirements per application will also positively impact the segment. Besides, mounting demand for products with low noise and variable power will also add impetus to the segmental expansion between 2023 and 2032.
Based on end-use, the aftermarket segment is anticipated to account for more than USD 6 billion in terms of revenue by 2032. The segment will demonstrate robust growth owing to the increasing demand for vehicle parts and the rising shift toward noiseless and precise operation of products and high-profit margins. In addition, increasing product demand from domestic and international markets in view of competitively better priced products along with excellent product standards will drive the market through 2032.
In the regional context, the Europe electric motors market in the transportation sector is expected to depict over 5% CAGR through 2032. The market is slated to grow considerably during the estimated timeframe owing to the constant technological advancements taking place in the region. In addition, the presence of some of the leading players and growing awareness among consumers regarding ecological living is further slated to drive market expansion in the region.
Not to mention, the thriving automotive business in Europe would supplement the growing market curve for electric motors in transportation sector. As per the ACEA projections, motor vehicle registrations in the European continent accounted for more than 13.5% of the global motor vehicle registrations in 2021.
Request for customization @ https://www.gminsights.com/roc/2144
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Base estimation & working
1.2.1 North America
1.2.2 Europe
1.2.3 Asia Pacific
1.2.4 Latin America
1.2.5 Middle East & Africa
1.3 Forecast calculations
1.3.1 COVID-19 impact calculations on industry landscape
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
Chapter 2 Executive Summary
2.1 Electric Motors Market In Transportation Sector market industry 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Motor trends
2.1.4 End-use trends
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/electric-motors-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Aashit Tiwari
Corporate Sales, USA
Global Market Insights Inc.
Toll Free: 1-888-689-0688
USA: +1-302-846-7766
Europe: +44-742-759-8484
APAC: +65-3129-7718
Email:sales@gminsights.com