Value Of Industrial Motor Market In 2032 Is Forecast To Surpass USD 25.9 Billion By 2032 End
The
industrial motor market is expected to increase at a CAGR of 3.9% between 2022
and 2032, from an estimated value of USD 17.7 billion in 2022 to USD 25.9
billion by that time.
Due to
recent company moves toward the use of technologically superior industrial
motors that may conserve energy and lower operating costs, Fact.MR believes
that the market for
industrial motors will account for around 16% of the worldwide motors
market in 2021.
Additionally,
among the numerous motor types utilised in industrial applications, the
widespread usage of DC motors in servo applications, where accuracy and speed
are crucial, has boosted this industry. AC motors were also widely utilised in
equipment for heating and cooling at the same time.
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The market
study conducted by Fact.MR provides unique information regarding the market's
future growth. The analysis analyses significant trends that are driving the
Industrial Motor market's expansion. This recently released study clarifies
crucial trends, such as the market's drivers, constraints, and possibilities
for established businesses as well as up-and-coming competitors involved in
supply and manufacturing. In its most recent analysis, Fact.MR offers a
thorough Market Analysis of Industrial Motor.
Industrial
motors are being used by an increasing number of companies throughout the world
to power their production facilities. As a result, industrial motor
manufacturers are creating more effective motors that are also energy
efficient.
6 Highlights of the Global Industrial Motor
Market Forecast
During the forecast period of 2017 2026, Asia
Pacific Excluding Japan (APEJ) is anticipated to be the largest region in the
worldwide industrial motor market. APEJ is projected to rise as a result of the
quickening modernization and development of infrastructure in nations like
China and India.
The industrial motor market is anticipated to
expand in both North America and Europe. The oil and gas industry's demand for
industrial motors is being driven by new oil deposits in North America. The
need for energy-efficient industrial motors is also being fueled by strict
government regulations in the area on energy and electricity conservation.
In the worldwide industrial motor market, IE2
industrial motor is anticipated to develop at the fastest rate. IE2 is
anticipated to generate more than $4,800 million in revenue by the end of 2026.
By the end of 2017, pumps and fans are
anticipated to make up close to half of the revenue share. By the end of 2026,
it is anticipated that sales of pumps and fans will exceed $7,600 million USD.
DC Brushless is anticipated to be the most
common kind of industrial motor among all motor types. According to estimates,
the incremental market for DC Brushless motors will exceed US$ 1,900 million
between 2017 and 2026.
The largest end user in the commercial HVAC
sector of the industrial motor market is anticipated to emerge. By the end of 2026,
commercial HVAC sales are expected to exceed $4,400 million in revenue.
In-depth information of the top market
participants in the worldwide industrial motor market is also provided in the
study. Through 2026, these players are anticipated to continue playing.
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Methodology: https://www.factmr.com/connectus/sample flag=RM&rep_id=355
Competitive Environment: Leading Industrial
Motor Market Companies
Due to the
presence of several local and regional companies, the global industrial motor
market is extremely fragmented and competitive. Key players use a variety of
marketing tactics, including mergers & acquisitions, expansions,
collaborations, and partnerships.
Additionally,
the top businesses use new product creation as a strategic way to enhance their
market position among consumers. Advanced industrial motors have been incorporated
as a result of these efforts.
In the
recently released report, Fact.MR has provided comprehensive details about the
price points of leading industrial motor manufacturers positioned across
regions, sales growth, production capacity, and speculative technical
advancement.
Key Companies Profiled
ABB Limited
Siemens Aktiengesellschaft.
WEG SA
TECO Electric & Machinery Co., Ltd.
Toshiba Corporation
Hyosung Corporation
Nidec Corporation
Regal Beloit Corporation
CG Power and Industrial Solutions Limited
Shandong Huali Electric Motor Group Co. Ltd.
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Global Industrial Motor Market Segments
By
Efficiency :
IE1
IE2
IE3
IE4
DC and others
By
Application :
Compressors
Pumps & Fans
Conveyors
Crushers
Extruders
Other Applications
By
Motor Type :
DC Brushed motor
DC Brushless motor
Stepper motor
Traction Motor
By
End Use Vertical :
Commercial HVAC
F&B Manufacturing
Mining
Utilities
Other Sectors
* This article was originally published here
* This article was originally published here
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