Posted On: 2021-08-12
AC motor acquired largest revenues share among all motor types in overall Australia electric motor market. - 6Wresearch
Australia electric motor market witnessed a standard growth in recent years on account of the growing demand due to surging consumer electronics market and expanding industrial and residential markets. Growth of electric mobility on back of transition of automobile industry toward electric vehicle would also create demand for electric motor market in country. The demand for electric motors witnessed an upward growth trajectory mainly attributed to rise in demand from industries as they are more inclined towards highly efficient and reliable electric motors.
According to 6Wresearch, the Australia Electric Motor Market revenue is projected to grow at a CAGR of 4.4% during 2021-2027. Australia electric motor market is projected to register significant growth in the forecast period on the back of a growing demand in HVAC, automotive and manufacturing industries coupled with government’s plans to shift towards renewable energy. Increased demand for electric motor on the account of growth of industries such as mining and construction sector which grew by 14.2% and 6.0% respectively in 2020. Furthermore, Australian automobile market showed positive signs with increase in sales in Q1 2021, reporting a 13% increase in sales compared to Q1 2020, and government regulation to optimize the energy consumption are major factors contributing to the growth of the electric motor market in Australia and the same trend is projected in the forecast period.
According to Rishabh Singh Bhandari, Research Associate, 6Wresearch, “By output type, the integral output type held the maximum revenue share in Australia electric motor market owing its high-power output despite of its compactness and light weight. The integral output type motor has high demand on the back of its wide use in power generation, manufacturing and compressor drive systems. The same trend is projected in the forecast period.”
According to Kajal Saraswat, Research Analyst, 6Wresearch, “By motor type, AC motor has the majority of market revenue share owing to its surging demand due to growing economic activities in the country. AC motors are generally used in fans, air conditioner, hydraulic and irrigation pumps and conveyor systems as AC motors have higher power density, a higher starting torque, and are more efficient.
However, there is an increased demand for DC motors due to its wide demand in electric vehicles and its use in elevators, consumer electronics, handheld power tools and washers. These factors are likely to drive the DC motor's market revenue size over the coming years” Kajal further added.
"Australia electric motor Market (2017-2027)" report provides an in-depth analysis with 28 figures and 5 tables, covered in more than 81 pages. Australia electric motor market report comprehensively covers the market by motor types, output, voltage and industries. Australia electric motor market report provides an unbiased and detailed overview and analysis of the on-going Australia electric motor market trends, opportunities/ high growth areas, market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.