Industrial Motors Market Size To Hit US$ 28.45 Billion by 2027 | ABB Ltd., Brook Crompton, Hitachi Ltd.WORLDWID

PRESS RELEASE
Published April 8, 2023

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

An industrial motor depends on alternating current (AC) resources, including power grids or generators, to work efficiently and converts electrical energy into mechanical. It is highly effective as it does not use fuel and requires engine-oil maintenance as compared to other mechanical devices. In addition, the industrial motor is incredibly durable with a long lifespan as it contains few moving parts that operate effortlessly. As a result, it is utilized in blowers, power tools, turbines, rolling mills, alternators, ships, movers, paper factories, etc.

Industrial Motors Market Trends:

The widespread adoption of electric machines in commercial processes and auxiliary systems, such as ventilation, compressed air generation, and water pumping, is primarily augmenting the industrial motors market. Furthermore, the escalating demand for alternating current engines, which are more reliable with low maintenance costs, is positively influencing the global market. Apart from this, the increasing utilization of AC machines in pumps, water heaters, ovens, and off-road motorized and garden equipment is acting as another significant growth-inducing factor.

Moreover, the rising requirement for commercial motors that can save energy and decrease operational expenditure in organizations is also bolstering the market growth. Besides this, the growing need for water recycling, owing to the depletion of resources across the globe, is further catalyzing the global market. Additionally, extensive research and development (R&D) activities conducted by key market players to launch electric machines with a high power-to-weight ratio for minimizing energy consumption and resolving portability issues are also driving the market growth. In addition to this, the inflating investments by government bodies of numerous countries for smart manufacturing pilot projects are expected to drive the industrial motors market in the coming years.

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Industrial Motors Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the Industrial Motors market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • 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.

Key Market Segmentation:

The report has segmented the Industrial Motors market on the basis of type of motor, voltage and end user.

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

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

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Key Highlights of the Report:

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