Industrial Motors Global Market to Reach $101 Billion by 2022 at a CAGR of 8.76%

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Nov 29, 2022, 08:30 ET

DUBLIN, Nov. 29, 2022 /PRNewswire/ -- The "Industrial Motors Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global industrial motors market is expected to grow at a CAGR of 8.76% during 2022-2027.

MARKET OVERVIEW

An industrial electric motor is an electromechanical machine found in major industrial products worldwide. Industrial electric motors translate electrical energy into mechanical energy and are used in conveyors, pumps, fans, and other industrial machinery. The industrial motors market is segmented into AC and DC motors. These motors can be further classified into low, medium, and high voltage types and are distributed through various sales channels.

Increasing infrastructural development in emerging nations and residential construction in the U.S., the growth of the oil & gas industry, and the growing production in the chemical industry are expected to drive the growth of the global industrial motors market. Further, China is expected to grow at the highest CAGR during the forecast period owing to a vast population pool, industrial establishments, a growing economy, and increasing industrial expenditures.

The industrial motors market sales in the APAC region will see steady growth driven by expenditure on infrastructure and industrial production growth. Many APAC countries, including China and India, are expected to announce remarkable gains in the industrial motors market, with essential infrastructure expansion in the industrial sector and building services during the forecast period. The U.S. remains the third-largest industrial motors market in 2021 due to its robust process manufacturing and oil & gas industries. However, APAC and Europe remained the top two regions with higher demand for motors in various sectors.

OPPORTUNITIES & CHALLENGE ANALYSIS

Demand For IE4 Efficiency Low Voltage Motors

Worldwide electricity consumption is projected to double by 2050. It has been expected that around the same time, policymakers would reduce their country's CO2 emissions by half to mitigate climate change. Electric motors account for around 40% of global energy use. Industries are another primary global energy user, and motors used in industrial plants usually consume between 65 and 80% of total plant electricity. Thus, an energy-efficient motor is anticipated to create a trend in the industrial motors market during the forecast period. In Europe, the upcoming transition from IE2 or IE3 motors to IE4 was scheduled to begin in 2017, which will continue in the forecast period. Also, to meet the efficiency level, fitting a VFD, which has ratings equivalent to IE3, has been permitted during this phase to increase the efficiency of IE3 motors.

Increase In Automation Expenditure

The global industrial motors market is growing continuously as the demand for integrated and scalable products is at an all-time high. This rise is seen in highly industrialized economies and developing countries as companies look to bypass old technologies and jump directly into the latest trends. Also, as conventional IT principles combine with manufacturing technology, companies use the concept of "digital manufacturing works or factory," which provides a distinctive competitive advantage to companies in their respective industries. Various industries have used a high level of automation to quicken processes and precision. Hence, motors that provide higher frequency and accuracy and are automated after reset have been increasing in demand, including servomotors, electric motors, and others.

SEGMENTATION ANALYSIS

Segmentation by Product

AC Motor
DC Motor

Segmentation by Power Output

Integral Horsepower
Fractional Horsepower

Segmentation by Voltage

Low
Medium
High

Segmentation by Efficiency

Segmentation 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

Segmentation by End-User

HVAC
F&B
Power Generation
Mining
Automotive
Machine Tools
Elevators and Escalators
Warehousing
Paper & Paperboard
Oil & Gas
Metal Processing
Pharmaceutical
Chemical
Packaging
Others

Segmentation by Geography
APAC

China
South Korea
Japan
India
Australia

North America

U.S
Canada

Europe

Germany
UK
France
Italy
Spain

Latin America

Brazil
Mexico
Chile
Argentina

Middle East & Africa

Saudi Arabia
Turkey
Rest of the Middle East & Africa

Key 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

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

5 Report Assumptions & Caveats

6 Market at a Glance

7 Premium Insights

8 Introduction

9 Market Opportunities & Trends

10 Market Growth Enablers

11 Market Restraints

12 Market Landscape

13 Product

14 Power Output

15 Voltage

16 Low-Voltage Ac Motor by Efficiency

17 Sales Channel

18 End-User

19 Geography

20 North America

21 APAC

22 Europe

23 Latin America

24 Middle East & Africa

25 Competitive Landscape

26 Key Company Profiles

27 Other Prominent Vendors

28 Report Summary

29 Quantitative Summary

30 North America

31 APAC