HVAC Breaking News

April 8, 2013: Demand for Electric Motors to Exceed $14 Billion by 2017

April 8, 2013
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CLEVELAND — Demand in the United States for electric motors is expected to increase 4.6 percent annually through 2017 to $14.4 billion, accelerating from the pace of the 2007-2012 period, when nearly every major market for these devices struggled. Electric motors are key components in many durable goods including HVAC equipment; as manufacturing output rises, sales of electric motors will follow. These and other trends are presented in “Electric Motors,” a new study from The Freedonia Group Inc., a Cleveland-based industry market research firm.

The market for ac motors will grow the most in absolute terms and remain the largest product segment in 2017. Applications of ac motors include heating and cooling equipment and household appliances, production of which is forecast to rise with renewed strength along with the U.S. economy. Hermetic motors (which are permanently sealed to prevent the transmission of air, moisture vapor, and other gases) will register the fastest market advances of any motor product segment. Gains will primarily be driven by the favorable outlook for production of heating and cooling equipment and household appliances, with expanding aerospace and industrial machinery output also contributing to sales increases.

Among major markets, heating and cooling equipment applications are projected to register the fastest sales growth through 2017, at 7.6 percent, bolstered by increases in building construction after a prolonged period of weakness.

For more information, visit www.freedoniagroup.com.

Publication date: 4/8/2013

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