Industrial Motors Market Research Report 2022-2027

According to the latest report by IMARC Group, titled “Industrial Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global industrial motors market share.The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global Industrial Motors market size reached US$ 21.11 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.45 Billion on by 2027, exhibiting a growth rate (CAGR) of 4.80% during 2022-2027.

What Is A Industrial Motors?

An industrial motor relies on direct current (DC) sources like batteries and alternating current (AC) resources such as power grids, inverters, and power generators to convert electrical energy into mechanical energy. It is used in pumps, conveyors, turbines, blowers, compressors, turbines, movers, and industrial fans. It is available in high, medium, and low voltage types and provides various benefits, such as durability, enhanced operational efficiency, reduced maintenance cost, longer lifespan, high tolerance for fluctuating voltages, and low energy consumption. Owing to these benefits, industrial motors are utilized in mining and metals, chemicals, oil and gas manufacturing, and the food and beverage (F&B) industry across the globe.

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What Are The Major Market Drivers In The Industrial Motors Market?

The market is primarily driven by the growing application of industrial motors across various industrial verticals such as petrochemicals, packaging, logistics systems, water and wastewater management, and power generation industries. In addition, the escalating demand for electric motors in industrial processes and auxiliary systems such as ventilation, water pumping, and compressed air generation is contributing to the market growth.

Moreover, various improvements in the energy and utility sector, the expanding industrial internet of things (IIoT), and the emergence of industry 4.0 to reduce energy consumption, lower carbon dioxide (CO2) emissions, and ensure reliable power supply represents other major growth-inducing factors. Besides this, extensive research and development (R&D) activities conducted by key players to launch advanced industrial motors are also accelerating the product adoption rate. Furthermore, the increasing investment by governments of numerous countries for smart manufacturing projects and the surging need for water recycling owing to the depletion of water resources are providing a positive thrust to the global market.

Who Are The Key Players/Companies In The Global Industrial Motors Market?

ABB Ltd., Brook Crompton, Hitachi Ltd., Johnson Electric Holdings Limited, Menzel Elektromotoren GmbH, Nidec Corporation, Regal Rexnord Corporation, Rockwell Automation Inc., Siemens AG and Toshiba Corporation.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type of Motor:

  • Alternating Current (AC) Motor
  • Direct Current (DC) Motor
  • Others

Breakup by Voltage:

  • Low Voltage
  • Medium Voltage
  • High Voltage

Breakup by End User:

  • Oil and Gas
  • Power Generation
  • Mining and Metals
  • Water and Wastewater Management
  • Chemicals and Petrochemicals
  • Discrete Manufacturing
  • Others

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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