Industrial Motors Market Size to Reach US$ 89.9 billion by 2027

The global industrial motors market size is expected to grow at USD 89.9 billion By 2027, from USD 54.8 billion in 2020, at a CAGR of 8.2% from 2021 to 2027.

The industrial motors market is a sector of the global manufacturing industry that focuses on the production and sale of motors specifically designed for industrial applications. These motors are used in various industries such as automotive, manufacturing, oil and gas, power generation, and others.

The industrial motors market has experienced steady growth over the years due to the increasing demand for automation and energy-efficient solutions in industries. Motors are essential components in industrial machinery and equipment, as they are responsible for converting electrical energy into mechanical energy to power various industrial processes.

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Industrial Motors Market Dynamics

The industrial motors market dynamics are influenced by various factors that shape its growth, trends, and challenges. Here are the key dynamics impacting the market:

Technological Advancements: The industrial motors market is driven by continuous technological advancements. Manufacturers are constantly developing motors with improved efficiency, higher power output, compact size, and enhanced control capabilities. Advanced technologies such as IoT integration, predictive maintenance, and smart motor systems are gaining traction, enabling remote monitoring, diagnostics, and optimization of motor performance.

Energy Efficiency and Environmental Regulations: Energy efficiency has become a significant focus in the industrial sector, driven by rising energy costs and environmental concerns. Governments and regulatory bodies worldwide have implemented stringent energy efficiency standards for industrial motors. Manufacturers are compelled to produce motors that meet these standards, leading to the adoption of energy-efficient designs, such as high-efficiency motors and variable speed drives.

Industrial Automation and Industry 4.0: The increasing adoption of industrial automation and the implementation of Industry 4.0 concepts are driving the demand for industrial motors. Automation and robotics require motors for precise control and movement. Integration of motors with intelligent systems and automation technologies enables optimized production processes, improved productivity, and reduced downtime.

Growing Industrialization and Infrastructure Development: Industrialization, particularly in emerging economies, fuels the demand for industrial motors. Developing countries are witnessing rapid growth in manufacturing industries, construction projects, and infrastructure development. Motors are vital components in various industrial applications such as machinery, pumps, fans, compressors, and conveyors, leading to increased motor demand.

Renewable Energy Integration: The global shift towards renewable energy sources, such as wind and solar power, is driving the demand for motors used in renewable energy systems. Industrial motors are required for wind turbine generators, solar tracking systems, and hydroelectric power generation. The expansion of renewable energy installations worldwide creates opportunities for motor manufacturers.

 

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Market Segmentation Analysis

The study categorizes the global Industrial Motors market based on equipment type, technology, type, installation method, distribution channel, application, and regions.

By Product Outlook (Revenue, USD Million, 2017-2027)

AC Motor

DC Motor

By Efficiency Outlook (Revenue, USD Million, 2017-2027)

IE1

IE2

IE3

IE4

By Voltage Outlook (Revenue, USD Million, 2017-2027)

Low

Medium

High

By Sales Channel Outlook (Revenue, USD Million, 2017-2027)

Direct Sales

Indirect Sales

By Power Output Outlook (Revenue, USD Million, 2017-2027)

Integral Horsepower

Fractional Horsepower

By Region Outlook (Sales, Production, USD Million, 2019-2033)

North America (Mexico, Canada, US)

South America (Peru, Brazil, Colombia, Argentina, Rest of Latin America)

Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)

Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)

The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

 

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REGIONAL ANALYSIS, 2023

Based on the region, the global Industrial Motors market has been analyzed and segmented into five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America has been a prominent market for Industrial Motorss due to high consumer spending on electronics and a strong demand for home entertainment systems. The United States, in particular, has a large market for Industrial Motorss, driven by the popularity of streaming services and the desire for immersive audio experiences.

The Asia Pacific region, including countries like China, Japan, and South Korea, has witnessed substantial growth in the Industrial Motors market. Factors contributing to this growth include the rising disposable income, increasing urbanization, and the growing popularity of home theater systems among consumers in the region.

 

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Major Key Players in the Industrial Motors Market

The global Industrial Motors market is fragmented into a few major players and other local, small, and mid-sized manufacturers/providers, they are –

The industrial motors market is mildly concentrated in nature with few numbers of global players operating in the market such as Siemens AG, Ametek Incorporation, Baldor Electric Incorporation, ARC Systems Incorporation, Allied Motion Technologies Inc., Asmo Corporation Limited, Franklin Electric Cooperative Incorporation, Rockwell Automation Incorporation, Brook Crompton UK Limited, and Johnson Electric Holdings Limited.

Every company follows its business strategy to attain the maximum market share. ABB Ltd, Siemens AG, Nidec Corp, Brook Crompton UK Ltd, Emerson Electric are leading players operating in the global industrial motors market.