At 7.6% CAGR, the world market for industrial motors (AC / DC)

By on November 23, 2021 0


Summary : 160 pages Industrial Engines Research Report categorizes the global industry by type (ac motors, dc motors), by application (oil and gas, food and beverage construction, manufacturing, pulp and paper , water and wastewater, others) & by geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)

WASHINGTON, Nov. 23, 2021 (GLOBE NEWSWIRE) – The global industrial motors market size is expected to reach $ 2,893 million by 2028, with a CAGR of 7.6% during the forecast period. Growing industrialization and rising electricity costs are driving demand for energy efficient motors globally, says Vantage Market Research, in a report titled “Industrial Motors Market By Type (AC Motors, DC Motors) By Application (Oil & Gas Extraction, Food & Beverage Construction, Manufacturing, Pulp & Paper, Water & Wastewater, Others), By region (North America, Europe, Asia-Pacific, Latin America & Middle East & Africa): Global Market Assessment, 2021 – 2028. ” The market size was USD 1,647.2 million in 2020.

The COVID-19 outbreak has affected various industries around the world. The industrial engine market had a negative impact. Governments around the world have taken tough measures like sealing borders, lockdowns and implementing strict social distancing measures, in order to stop the rapid spread of COVID-19. These actions have had serious repercussions on the global economy, affecting various industries. The impact of COVID-19 on market demand is considered while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:

  1. Assessment of the impact of the COVID-19 pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East and Africa
  2. Quarterly Market Revenue Forecast by Region 2020 and 2021
  3. Key strategies implemented by companies to fight COVID-19
  4. Long-term dynamics
  5. Short-term dynamics

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The Industrial Motors Market Highlights Report:

  • Market assessment
  • Premium previews
  • Competitive landscape
  • COVID impact analysis
  • Value chain analysis
  • Historical data, estimates and forecasts
  • Company Profiles
  • Porter’s Five Forces Analysis
  • SWOT analysis
  • Global and regional dynamics

Market Snapshot:

Growing demand for energy efficient electric motors is driving the industrial motor market

Industrial motors are typically used in manufacturing machinery and industrial assemblies. Rising electricity and raw material prices have generated a demand for energy efficient motors. The rise of the industrial sector and the increase in manufacturing processes have generated a demand for high efficiency motors. Motors are generally of various types such as AC, DC and servo motors. Both AC and DC motors are commonly used in large industries due to their high torque and power requirement.

Particular attention to safety and reduced maintenance are expected from the main players in manufacturing. Companies invest huge funds in engine engineering R&D just to reduce energy costs and provide high efficiency. Due to this factor, there is a high demand for electric motors which indirectly contributes to the growth of the industrial motors market.

Growing industrial automation (Industry 4.0) and technological advancements are fueling market growth

As industrial automation has grown in importance in the coming years, in countries like the United States, Canada, and Germany, automation has a huge positive impact on the manufacturing process. Industrial automation requires special programmable servomotors. The demand for these motors has grown in importance in the years to come due to their requirement in the automation industry. Mid-sized industries invest huge funds in the development of automation in their factories, which generates huge demand for industrial motor market.

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Regional analysis:

Growing Developments in Industrial Engine Market Growth in Asia-Pacific

Asia Pacific industrial engine market is expected to experience lucrative growth and is expected to reach the highest CAGR of 8.3% during the projected period. The presence of major industrial engine manufacturers, increasing adoption of technological advancements in countries like India and China are boosting industrial engine market demand in the region. For example, China and India have enormous potential to develop heavy machinery needed for power generation, which has enabled General Electric to invest maximum of its funds in these regions.

North America and Europe are expected to expand the market at moderate growth during the forecast period than others. This is due to the good establishment of their industrial sector and to a lower demand of the market.

List of the main players in the industrial motors market:

Sr. No. Companies HEADQUARTER
1. ABB GROUP Zurich, Switzerland
2. ARC SYSTEMS Inc. Hauppauge, NY, United States
3. BROOK CRMPTON United Kingdom Ltd. Road, Huddersfield, United Kingdom
4. DENSO COMPANY Kariya, Aichi, Japan
5. DR. FRITZ FAULHABER GMBH CO. KG Schönaich, Germany
6. EMERSON ELECTRIC CO. Saint-Louis, United States
8. MAXON MOTOR AG Sachseln (Central Switzerland)
9. REGAL BELOIT CORPORATION Beloit, Wisconsin, United States
ten. SIEMENS Munich, Germany
11. General Electric Boston, Massachusetts, United States

Recent developments in the industry:

July 2021, The EU Ecodesign Regulation addressed this problem for LV motors by establishing and enforcing International Efficiency Classes (IE) defined by the International Electrotechnical Commission (IEC). .

This market entitled “Industrial engine market ” will cover proprietary information in terms of geographic segmentation, regional analysis, forecast and quantitative date – units, key market trends and various others as mentioned below:

Report attribute Details
Year of reference 2020
Historical years 2016 – 2019
Forecast years 2021 – 2028
Covered segments
  • Type of motors
    • Alternating Current (AC) Motors
    • Direct current (DC) motors
    • Others
  • Voltage
    • High tension
    • Medium voltage
    • Low tension
  • Final user
    • Petroleum gas
    • Energy production
    • Mines and metals
    • Water and wastewater management
    • Chemicals and petrochemicals
    • Others
Quantitative Data – Units Revenue in USD Million / Million and CAGR
Regions covered North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and rest of the world
Covered countries United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others
Cover of the report Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, market share analysis of the business and impact assessment of COVID-19.

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Contents –

  1. Chapter n ° 1: Introduction
    1. Scope of the report
    2. Objectives of the study
    3. USP Offers and Keys
    4. Target audience
    5. Vantage Tips / Walkthrough Market Research Report
  2. Chapter 2: Premium Previews
    1. Market Snapshot
    2. Better investment pockets
      1. Market attractiveness analysis, by type
      2. Market attractiveness analysis, by application
      3. Market attractiveness analysis, by Asia-Pacific
    3. Views of key informants

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