PRESS RELEASE
Posted on April 8, 2023
The global industrial motors market size reached US$ 21.11 billion in 2021. Looking ahead, IMARC Group expects the market to reach a value of US$ 28.45 billion by 2027, with a growth rate (CAGR) of 4.80% during 2022-2027.
An industrial motor depends on alternating current (AC) resources, including electrical grids or generators, to operate efficiently and convert electrical energy into mechanical energy. It is very effective as it uses no fuel and requires no engine oil maintenance compared to other mechanical devices. In addition, the industrial motor is incredibly durable with a long service life as it contains few moving parts that work effortlessly. As a result, it is used in blowers, power tools, turbines, rolling mills, alternators, ships, engines, paper mills, etc.
Industrial motor market trends:
The widespread adoption of electric machines in commercial processes and auxiliary systems such as ventilation, compressed air generation and water pumping is mainly increasing the market for industrial motors. Also, increasing demand for AC motors, which are more reliable with low maintenance costs, is positively influencing the global market. Apart from this, the increasing utilization of AC machines in pumps, water heaters, furnaces and garden and motorized off-road equipment is acting as another important factor inducing growth.
In addition, the growing demand for commercial engines that can save energy and reduce operational expenditure in organizations is also driving the growth of the market. In addition to this, the growing need for water recycling, due to the depletion of resources worldwide, is further catalyzing the global market. In addition, extensive research and development (R&D) activities by key market players to launch electric machines with high power-to-weight ratio to minimize power consumption and solve portability issues are also driving the growth of the market In addition to this, swelling investments by government bodies in numerous countries for smart manufacturing pilot projects are expected to drive the industrial motors market in the coming years.
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Competitive Analysis and Segmentation of the Industrial Motors Market 2022-2027:
Competitive landscape with key players:
The competitive landscape of the Industrial Motors market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd.
- Brook Crompton
- Hitachi Ltd.
- Johnson Electric Holdings Limited
- Menzel electric motors GmbH
- Nidec Corporation
- Corporation Regal Rexnord
- Rockwell Automation Inc.
- Siemens AG
- and Toshiba Corporation.
Key Market Segmentation:
The report has segmented the industrial motor market on the basis of motor type, voltage and end user.
Breakdown by engine type:
- Alternating current (AC) motor.
- Direct current (DC) motor.
- others
Breakdown by stress:
- low voltage
- Medium Voltage
- high voltage
Breakdown by end user:
- Oil and gas
- Energy generation
- Mining and Metals
- Water and waste water management
- Chemistry and petrochemicals
- Discreet manufacturing
- others
Division by region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa and others)
- Market performance (2016-2021)
- Market Outlook (2022-2027)
- Success factors and market drivers
- Comprehensive mapping of the competitive landscape
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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to venture into the market in any form.
Key aspects of the report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as part of the customization.
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IMARC Group is a leading market research firm providing management strategy and market research worldwide. We partner with clients across industries and regions to identify their most valuable opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-tech organizations. Market forecasts and industry analysis of biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and new processing methods are at the forefront of the company’s expertise.
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