April 8, 2013: Demand for Electric Motors to Exceed $14 Billion by 2017
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.
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Publication date: 4/8/2013