The industrial motor market is expected to increase at a CAGR of 3.9% between 2022 and 2032, from an estimated value of USD 17.7 billion in 2022 to USD 25.9 billion by that time.
Due to recent company moves toward the use of technologically superior industrial motors that may conserve energy and lower operating costs, Fact.MR believes that the market for industrial motors will account for around 16% of the worldwide motors market in 2021.
Additionally, among the numerous motor types utilised in industrial applications, the widespread usage of DC motors in servo applications, where accuracy and speed are crucial, has boosted this industry. AC motors were also widely utilised in equipment for heating and cooling at the same time.
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The market study conducted by Fact.MR provides unique information regarding the market's future growth. The analysis analyses significant trends that are driving the Industrial Motor market's expansion. This recently released study clarifies crucial trends, such as the market's drivers, constraints, and possibilities for established businesses as well as up-and-coming competitors involved in supply and manufacturing. In its most recent analysis, Fact.MR offers a thorough Market Analysis of Industrial Motor.
Industrial motors are being used by an increasing number of companies throughout the world to power their production facilities. As a result, industrial motor manufacturers are creating more effective motors that are also energy efficient.
6 Highlights of the Global Industrial Motor Market Forecast
· During the forecast period of 2017–2026, Asia Pacific Excluding Japan (APEJ) is anticipated to be the largest region in the worldwide industrial motor market. APEJ is projected to rise as a result of the quickening modernization and development of infrastructure in nations like China and India.
· The industrial motor market is anticipated to expand in both North America and Europe. The oil and gas industry's demand for industrial motors is being driven by new oil deposits in North America. The need for energy-efficient industrial motors is also being fueled by strict government regulations in the area on energy and electricity conservation.
· In the worldwide industrial motor market, IE2 industrial motor is anticipated to develop at the fastest rate. IE2 is anticipated to generate more than $4,800 million in revenue by the end of 2026.
· By the end of 2017, pumps and fans are anticipated to make up close to half of the revenue share. By the end of 2026, it is anticipated that sales of pumps and fans will exceed $7,600 million USD.
· DC Brushless is anticipated to be the most common kind of industrial motor among all motor types. According to estimates, the incremental market for DC Brushless motors will exceed US$ 1,900 million between 2017 and 2026.
· The largest end user in the commercial HVAC sector of the industrial motor market is anticipated to emerge. By the end of 2026, commercial HVAC sales are expected to exceed $4,400 million in revenue.
· In-depth information of the top market participants in the worldwide industrial motor market is also provided in the study. Through 2026, these players are anticipated to continue playing.
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Competitive Environment: Leading Industrial Motor Market Companies
Due to the presence of several local and regional companies, the global industrial motor market is extremely fragmented and competitive. Key players use a variety of marketing tactics, including mergers & acquisitions, expansions, collaborations, and partnerships.
Additionally, the top businesses use new product creation as a strategic way to enhance their market position among consumers. Advanced industrial motors have been incorporated as a result of these efforts.
In the recently released report, Fact.MR has provided comprehensive details about the price points of leading industrial motor manufacturers positioned across regions, sales growth, production capacity, and speculative technical advancement.
Key Companies Profiled
· ABB Limited
· Siemens Aktiengesellschaft.
· WEG SA
· TECO Electric & Machinery Co., Ltd.
· Toshiba Corporation
· Hyosung Corporation
· Nidec Corporation
· Regal Beloit Corporation
· CG Power and Industrial Solutions Limited
· Shandong Huali Electric Motor Group Co. Ltd.
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Global Industrial Motor Market Segments
- By Efficiency :
- DC and others
- By Application :
- Pumps & Fans
- Other Applications
- By Motor Type :
- DC Brushed motor
- DC Brushless motor
- Stepper motor
- Traction Motor
- By End Use Vertical :
- Commercial HVAC
- F&B Manufacturing
- Other Sectors
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