Industrial Motors Market Size to Reach Revenues over USD 88 Billion by 2026 - Arizton
CHICAGO, Jan. 27, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global industrial motors market report.
The industrial motors market is expected to grow at a CAGR of over 8% during the period 2020−2026.
Key Highlights Offered in the Report:
- The global industrial motor market is expected to grow significantly at a CAGR of over 8% by value and 11% by volume during the forecast period. Regions such as APAC and Europe are expected to dominate the demand in the market due to increased opportunities with upcoming industrial development in HVAC, F&B, oil & gas, and other industries.
- The AC motor market is expected to grow at a CAGR of over 8% and DC at 4% by revenue during the forecast period.
- The rapidly changing technological environment is expected to adversely affect vendors as continual innovations and upgrades as per schemes and government policies are the characteristics of this market.
- The market is highly fragmented with various vendors that operate and sell industrial motors across the world and there is intense competition among vendors for market share.
- The demand for industrial motors is anticipated to grow due to increased industrial production and replacement of old motors with energy-efficient motors.
- China, the Middle East, and the US are the most competitive regions with increased industrial initiatives.
- Supply chain pressure will lead to increased direct sales from manufacturers, thus disrupting sales channel through distributors.
- The trend toward green economies is encouraging the industrial sector to adopt energy-efficient motors, so the demand will grow, particularly in the IE3 and IE4 industrial motor market.
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, voltage, efficiency, end-user, sales channel, power output, and geography
- Competitive Landscape – 9 key vendors and 10 other vendors
Get your sample today! https://www.arizton.com/market-reports/industrial-motors-market-size-analysis
Industrial Motors Market – Segmentation
- High-efficiency DC motors are expected to gain importance due to long-lasting operational life, low maintenance, and low energy consumption. A large-scale adoption in forklift chemical injection pumps and HVAC applications is estimated to drive the market growth by 2026.
- IE2 low-voltage motors are anticipated to grow during the forecast period as several customers have replaced IE1 with IE2 ones. Changes in government energy-efficiency regulations are influencing growth across the world. However, the growth of the IE2 motors market is likely to be affected due to the adoption of efficient IE3 and IE4 motors.
- Low-voltage industrial motors are expected to grow substantially during the forecast period. The growth in the manufacturing sector worldwide and the application of several technological products such as smart sensors are likely to increase the demand. Low-voltage motors are characterized by high reliability, ruggedness, and efficiency, hence their adoption in industrial or commercial environments, building management systems, shipbuilding, and infrastructure is high.
Industrial Motors Market by Product
- AC
- DC
Industrial Motors Market by Voltage
- Low
- Medium
- High
Industrial Motors Market by Efficiency
- IE1
- IE2
- IE3
- IE4
Industrial Motors Market by End-user
- HVAC
- F&B
- Power Generation
- Mining
- Machine Tools
- Elevators and Escalators
- Warehousing
- Paper & Paperboard
- Oil & Gas
- Metal Processing
- Pharmaceutical
- Chemical
- Packaging
- Others
Industrial Motors Market by Power Output
- Integral Horsepower
- Fractional Horsepower
Industrial Motors Market by Sales Channel
- Direct to End-user
- Direct to OEM
- Direct to System Integrator
- Distributor to End-user
- Distributor to OEM
- Distributor to System Integrator
Industrial Motors Market – Dynamics
In the past few years, Variable Frequency Drive (VFD) is being increasingly used with motors to increase their efficiency as well as to make them cost-effective. Several IE2 and IE3 motors are used along with VFD, which, in turn, enables these motors to meet the specifications of higher efficiency of IE4 motors. Moreover, many countries in Europe such as Switzerland and others have passed regulations on the use of VFD with motors. Installation of IE2 motors is only allowed if they are used with VFD. Also, several end-user industries across the globe are using VFD with IE3 motors to deliver the same results as IE4 motors and beat the high costs associated with IE4 motors. Since motors consume a lot of energy and generate significant costs, many vendors are increasingly using VFDs with their motors. This is enabling end-users to incorporate motors in their operations without being worried about cost. APAC and Latin America are expected to witness promising growth in terms of VFD sales owing to stringent regulations and law enforcement on the use of energy-efficient motors.
Key Drivers and Trends fueling Market Growth:
- Demand for IE4 Efficiency Low Voltage Motors
- Increasing Infrastructural Development in the Middle East Region
- Growth in Warehouses in the APAC Region
- Increase in Automation Expenditure
Industrial Motors Market – Geography
APAC is considered to have the highest growth in terms of industrial development, digital & technological transformations, as well as the economy. Asia's rise has been one of the most rapid innovations in the last 30 years due to increasing consumption and production in several sectors and industries. It is expected that in the coming 10-20 years, Asia's industrial sector will be leading in the global market, starting from the internet to trade, from luxury goods to energy, and many others. This reflects the huge potential of industrial motors supported by a rapidly growing economy and industrialization.
Get your sample today! https://www.arizton.com/market-reports/industrial-motors-market-size-analysis
Industrial Motors Market by Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Mexico
- Brazil
- Chile
- Argentina
- Middle East & Africa
- Saudi Arabia
- Turkey
- Rest of Middle East & Africa
Major Vendors
- ABB
- Allied Motion Technologies
- CG Power and Industrial Solutions
- Eaton
- Johnson Electric
- Nidec
- Regal Beloit Corporation
- Siemens
- WEG
Other Prominent Vendors
- ARC Systems
- Ametek
- Bonfiglioli
- Brook Crompton
- Dana Brevini Power Transmission
- Fuji Electric
- Maxon
- Rockwell Automation
- Sew- Eurodrive
- TECO-Westinghouse
Explore our industrial machinery profile to know more about the industry.
Read some of the top-selling reports:
- Geared Motors Market - Global Outlook and Forecast 2021-2026
- Pump Market in India - Industry Outlook and Forecast 2021-2026
- Inverter Generator Market - Global Outlook and Forecast 2020-2025
- Oil and Gas Processing Seals Market - Global Outlook and Forecast 2020-2025
About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Mail: enquiry@arizton.com
Call: +1-312-235-2040
+1 302 469 0707
Logo: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg
Share this article