NEW YORK, April 8, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
US demand to rise 4.5% annually through 2017
US demand for electric motors is expected to increase 4.5 percent annually through 2017 to $14.3 billion, accelerating from the 2007-2012 period when nearly every major market for these devices struggled. Product sales will climb 2.3 percent per year in unit terms to 1.4 billion in 2017. Electric motors are key components in many durable goods, and, as manufacturing output rises, sales of electric motors are expected to follow.AC motors to remain largest product segment The market for AC motors will grow the most in absolute terms, and remain the largest product segment in 2017. However, due to the large size of this market, AC motors will post the slowest gains among product categories in percentage terms. AC motors are used in a myriad of applications, including household appliances and heating and cooling equipment, shipments of which are forecast to rise with renewed strength. Dollar increases will also be supported by producers upgrading to more energy efficient motors. Demand for direct current (DC) motors, the second largest product segment, will expand faster than sales of AC motors but slower than those of hermetic motors through 2017. DC motors are used extensively in automotive applications, and suppliers will benefit from growth in motor vehicle output following an extended period of decline. 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, despite being the smallest in dollar terms. Gains will primarily be driven by the favorable outlook for shipments of heating and cooling equipment and household appliances, with expanding aerospace and industrial machinery output also contributing to sales increases.