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Analysis of the Latin American Electric Motors Market : Continued Demand for Oil and Gas Exploration Expands Opportunities for IEC- and NEMA-based Electric Motors

  • January 2015
  • 96 pages
  • Frost & Sullivan
Report ID: 2657217

Summary

Table of Contents

Key Findings

•The total Latin American electric motors market generated revenues of $ x million in 2013. The market is expected to grow at a CAGR of x % from 2013 to 2020.
•Fans, pumps, and compressors represent most of the demand for low voltage and medium voltage electric motors. The greatest opportunities exist in providing high efficiency motors because of the substantial energy savings.
•The main drivers for this market are the rise in demand in the oil and gas (O&G) industry, the continuing development of the mining industry, and the significant demand for cement across the construction industries.
•Key restraints for the region are the overall economic slowdown in countries such as Brazil and Mexico and the legal and economic hurdles of conducting business in some countries such as Argentina and Venezuela.
•Increased international competition from Asia is driving down the price of electric motors, thus putting pressure on more established participants.
•The lack of technological innovation is causing the electric motor to be viewed as a commodity; therefore, competition on price, availability, and ease of access are becoming key competitive advantages.

CEO’s Perspective

The trend toward higher efficiency motors in Latin America is at the beginning and medium stages, thus providing ample opportunities for manufactures.
Increased competition from low-cost electric motor manufacturers is testing the strength of relationships with distributors.
Increased demand for NEMA-based electric motors in O&G and mining is creating competitive advantages for manufacturers to make IEC and NEMA-based motors.
Demand for a wider and more effective aftermarket service portfolio will likely become a key advantage and a competitive differentiator.
An uncertain economic outlook is reducing end-user short-term spending.

Key Questions This Study Will Answer

What is the outlook of the electric motors market in Latin America?
What are the most important market drivers and restraints for the Latin American electric motors market?
What is the demand and expected growth rate of the key end-user industries?
How will the structure of the market change with time?

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