The worldwide market for electric motors will
be worth more than £100 billion ($140 billion) in just six years, according to a
study by US-based Grand View Research. But what might this projected CAGR
(compound annual growth rate) of 4.5 per cent from 2015 to 2022 be down to?
Let’s look at five possibilities.
1. Manufacturers are under pressure to meet
increasingly-stringent energy efficiency legislation, such as the European
Minimum Energy Performance Standards (EU MEPS). This states that, from January
1st 2017, all motors with an output of 0.75-375kW sold within the EU
must be rated at IE3 efficiency or IE2 if connected to a variable-speed
drive. Therefore, a great number of companies will be forced to replace
electric motors in order to comply.
2. As more aspects of manufacturing processes become automated,
the demand for motors of all sizes will naturally grow.
3. Vehicles, and the devices within them, account for almost
a third of the entire electric motor market. With the projected rise of
electric and hybrid cars in the near future, vehicles are expected to remain a
prolific user of electric motors.
4. Many domestic appliances such as dishwashers,
refrigerators and microwave ovens require electric motors. Because these items are
likely to become increasingly affordable due to advances in technology, demand
for them will increase.
5. The benefits of modern energy-efficient electric motors are
becoming more important as the cost of energy increases, encouraging users to
upgrade their equipment for long-term savings.
Gibbons plays its part in satisfying the ever-increasing
global electric motor demand by supplying high-performance, energy-efficient
motors to clients around the world.
To discuss your electric motor requirements,
give us a call on 01621 868138 or email info@gibbonsgroup.co.uk
and one of our friendly team of experts will be happy to help.
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