Global Safety Drives & Motors Market - By Types, End Users, Regions and Vendors - Market Trends and Forecasts (2015 - 2020)

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Sep 23, 2015, 06:29 ET

LONDON, Sept. 23, 2015 /PRNewswire/ -- A motor is an important piece of machinery in the functioning of any industrial sector. With the existence of numerous hazardous zones in core industrial sectors, the need for safety motors has become imperative. These safety motors possess features that allow control of speed and torque of the system and also lead to significant energy savings and optimal process control.

The current safety motors are certified according to IEC and EN Standards as well as to fulfill ATEX directives and other international standards. The safety drives provide options, which can help minimize machine time and increase productivity while keeping both the personnel and equipment safe from any kind of damage. The Global Safety Drives & Motors market is expected to increase to $4.54 billion by 2018 at a CAGR of 6.7% over the period 2015-2020.

In 2015, North America region will be major market followed by Europe and Asia Pacific. The key factors contributing to the growth of Global Safety Motors market are demand for Safe Equipment, Industry Safety Standards and need for cost-effective systems. While the factors driving the Global Safety Drives market are need for systems that possess flexible and reliable functionality as well as the high degree of cost-effectiveness that these safety drives come with.

Complexity of Standards is the challenge that applies to both the Global Safety Motors as well the Global Safety Drives Market. The safety motors also have an issue of having restricted applications or lack of flexible functionality in different zones.

The Global Safety Drives market is broadly segmented on the basis of types, end users and geography. On the basis of types, the safety drives market has been segmented into AC Drives, DC Drives and others. Similarly, based on its end users, the applications of Global Safety Drives and Motors Market is segmented under segments such as Energy and Power, Manufacturing, Pharmaceutical, Petroleum & Chemicals, Construction, Food and Beverages, Oil & Gas and others. Some of the market players mentioned in the report are Rockwell Automation, Siemens, ABB, GE, Schneider Electric, Solomon and more.
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