Dublin, Nov. 22, 2021 (GLOBE NEWSWIRE) -- The "Australia Electric Motor Market 2021-2027" report has been added to ResearchAndMarkets.com's offering.
Australia's Electric Motor Market size is projected to grow at CAGR of 4.4% during 2021-27. The demand for electric motors increased owing to the growth of industries such as mining and construction which grew by 14.2% and 6.0% respectively in 2020.
Furthermore, the Australian automobile market showed positive signs with 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.
The Australian Electric Motor Market thoroughly covers the market by motor type, output, voltage and industries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Australia Electric Motor Market Synopsis
Australia's Electric Motor Market witnessed a standard growth in recent years on account of the growing demand for electric motors due to the expansion of industrial activities such as mining, automotive, packaging, power generation, consumer appliances and manufacturing.
Further, underpinned by increased demand for HVAC systems from the residential sector and the rising inclination of the automobile industry towards electric vehicles, the demand for electric motors is expected to increase in the upcoming years.
However, the spread of COVID-19 in 2020 resulted in turmoil for the industrial sector due to the lockdown measures adopted to curb the spread of the virus, which in turn led to a downfall in revenue of the products during the pandemic. Although, with the gradual upliftment of lockdown restrictions, sales of electric motors have begun to get back on track as operations in industries and construction resumed, which led the market back to its growth trajectory.
Market Analysis by Products
By motor type, AC motor has the majority of market revenue share in the overall market revenues in 2020 owing to its surging demand in industries for automation and electrification. However, the growing popularity of DC motors due to their high efficiency and wide demand in electric vehicles are likely to drive the DC motor's market revenue size over the coming years.
By voltage, the low voltage motor has the majority of market revenue share owing to its wide applicability in consumer electronics products, owing to the rise in online consumer sales, which grew by 25.8% in the year 2020 and the same trend is projected in the coming years, leading to high demand for low voltage motors in the country.
Key Attractiveness of the Report
COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2017 to 2020.
Base Year: 2020
Forecast Data until 2027.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.
ABB Australia Pty Ltd
Johnson Electric Holdings Ltd
Nidec Motor Corporation
Regal Beloit Australia Pty Ltd
Rockwell Automation Australia Ltd
Techtop Australia Pty Ltd
TECO Australia Pty. Ltd.
Toshiba Australia Pty Ltd
WEG Australia Pty Ltd
Key Highlights of the Report
Australia Electric Motor Market Overview
Australia Electric Motor Market Outlook
Australia Electric Motor Market Forecast
Historical Data and Forecast of Australia Electric Motor Market Revenues for the Period 2017-2027F.
Historical Market Data and Forecast of Revenues, By Motor Type, for the Period 2017-2027F.
Historical Market Data and Forecasts of Revenues, By Output, for the Period 2017-2027F.
Historical Market Data and Forecasts of Revenues, By Voltage, for the Period 2017-2027F.
Historical Market Data and Forecasts of Revenues, By Industries, for the Period 2017-2027F.
Market Drivers and Restraints
Australia Electric Motor Market Trends
Industry Life Cycle
Porter's Five Force Analysis
Market Opportunity Assessment
Australia Electric Motor Market Share, By Companies
Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Motor Type
Low Voltage (0 -1000V)
Medium Voltage (1000.1V-5000V)
High Voltage (5000.1V & above)
HVAC (Heating, Ventilation and Air Conditioning Equipment)
Others (Aerospace, Defense, Transport Infrastructure, Agriculture, Wastewater Management)
For more information about this report visit https://www.researchandmarkets.com/r/q7zx87
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900