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At 7.6% CAGR, Global Industrial (AC/DC) Motor Market to Surpass US$ 2,893 Million by 2028, Says Vantage Market Research (VMR)

Summary : 160 Pages Industrial Motor Research Report Categorizes the Global Industry by Type (AC Motors, DC Motors), by Application (Oil and Gas Mining Food and Beverage Construction, Manufacturing, Pulp and Paper, Water and Wastewater, Others) & by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)

WASHINGTON, Nov. 23, 2021 (GLOBE NEWSWIRE) -- The global industrial motor market size is expected to reach USD 2,893 Million by 2028, exhibiting a CAGR of 7.6% during the forecast period. Increasing industrialization and rising electricity costs are driving the demand for energy-efficient motors globally, states Vantage Market Research, in a report, titled “Industrial Motor Market by Type (AC Motors, DC Motors) by Application (Oil and Gas Mining Food and Beverage Construction, Manufacturing, Pulp and Paper, Water and Wastewater, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028.” The market size stood at USD 1,647.2 Million in 2020.

The COVID-19 outbreak has affected various industries worldwide. The industrial motor market had a negative impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data-points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Region 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

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The report on Industrial Motor Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Value Chain Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Global and Regional Dynamics

Market Overview:

Increasing Demand for Energy Efficient Electric Motors is Driving the Industrial Motor Market

Industrial Motors are generally used in manufacturing machines and industrial assemblies. Increasing prices of electricity and raw materials have generated a demand for energy-efficient motors. Rising industrial sector and increase in manufacturing processes had generated a demand for highly efficient motors. Motors generally are of various types such as AC, DC and Servo Motors. AC and DC motors are commonly used in major industries due to its requirement for high torque and power.

High focus on safety and low maintenance is expected from key manufacturing players. Companies are investing huge funds in R&D of Motor engineering just to reduce energy cost and provide high efficiency. Due to this factor there is high demand for electric motors which indirectly is helping the industrial motor market to grow.

Increasing Industrial Automation (Industry 4.0) & Technology Advancements is Fuelling the Growth of Market

As industry automation has gained huge importance in coming years, in countries such as the U.S, Canada, and Germany automation has a huge positive impact on the manufacturing process. Industrial automation requires special programmable servo motors. The demand for these motors has gained huge importance in the coming years due to their requirement in the automation sector. Medium-scale industries are investing huge funds in developing automation in their factories which is generating huge demand for the industrial motor market.

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Regional Analysis:

Rising Developments in Industrial Motor Market Growth in Asia Pacific

Asia Pacific industrial motor market is anticipated to witness lucrative growth and is expected to grow at the highest CAGR of 8.3% in the projected period. The presence of leading industrial motor manufacturers, rising adoption of technology advancements in countries such as India and China are boosting the demand of the industrial motor market in the region. For instance, China and India have huge potential for developing heavy machinery required for electricity power generations, this has attributed for General Electric to invest a maximum of its funds in these regions.    

North America and Europe are expected to expand the market at a moderate growth over the forecast period than others. This is due to the good establishment of their industrial sector and less requirement for market.

List of Prominent Players in the Industrial Motor Market:

Sr. No. Companies HEADQUARTERS
1. ABB GROUP Zürich, Switzerland
2. ARC SYSTEMS Inc. Hauppauge, NY, United States
3. BROOK CROMPTON UK Ltd. Road, Huddersfield,UK
4. DENSO CORPORATION Kariya, Aichi, Japan
5. DR. FRITZ FAULHABER GMBH CO. KG Schönaich, Germany
6. EMERSON ELECTRIC CO. St. Louis, U.S
8. MAXON MOTORS AG Sachseln (Central Switzerland)
9. REGAL BELOIT CORPORATION Beloit, Wisconsin, United States
10. SIEMENS Munich, Germany
11. General Electric Boston, Massachusetts, United States

Recent Developments in the Industry:

July 2021, the EU Ecodesign Regulation addressed this for LV motors by establishing and enforcing International Efficiency (IE) classes defined by the International Electrotechnical Commission (IEC), It set IE3 as the minimum standard and IE5 as an ultra-premium rating, including motors used with VSDs.

This market titled “Industrial Motor Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2019
Forecast Years 2021 - 2028
Segments Covered
  • Type of Motors
    • Alternating Current (AC) Motors
    • Direct Current (DC) Motors
    • Others
  • Voltage
    • High Voltage
    • Medium Voltage
    • Low Voltage
  • End-User
    • Oil & Gas
    • Power Generation
    • Mining & Metals
    • Water & Wastewater Management
    • Chemicals & Petrochemicals
    • Others
Quantitative Data - Units Revenue in USD Million/Million and CAGR
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

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Table of Content –

  1. Chapter No. 1: Introduction
    1. Report Scope
    2. Objectives of the Study
    3. USP & Key Offerings
    4. Target Audience
    5. Vantage Market Research Report Guidance/Walk-through
  2. Chapter No. 2: Premium Insights
    1. Market Snapshot
    2. Top Investment Pockets
      1. Market Attractiveness Analysis, By Type
      2. Market Attractiveness Analysis, By Application
      3. Market Attractiveness Analysis, By Asia Pacific
    3. Insights from Primary Respondents

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