Industrial Motors Market Outlook, Scope, Trends and Forecast 2024-2032

  2. by vishalguptaimarc
  3. September 12, 2024

Global Industrial Motors Industry: Key Statistics and Insights in 2024-2032

Summary:

  • The global industrial motors market size reached USD 23.5 Billion in 2023.

  • The market is expected to reach USD 32.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.6% during 2024-2032.

  • Asia Pacific leads the market, accounting for the largest industrial motors market share.

  • The largest category was represented by alternating current (AC) motors, which are widely used in industrial applications and provide adaptability, efficiency, and compatibility.

  • Low voltage accounted for the greatest market share because it is widely employed in industrial applications, providing a balance of safety, cost-effectiveness, and efficient performance.

  • As countries industrialize, the demand for goods and services increases.

  • Government agencies around the world are enforcing severe energy efficiency standards and restrictions for industrial equipment, including motors.

Industry Trends and Drivers:

  • Industrialization and Manufacturing:

As countries are undergoing industrialization, there is a growing demand to produce goods and services. This increased production necessitates the use of industrial motors in various applications, including conveyor systems, pumps, compressors, and manufacturing machinery. With the advancements of industrialization, there is a shift towards automation in manufacturing processes. Industrial motors are integral components of automated systems, powering robots, conveyor belts, and assembly lines, which enhance productivity and efficiency. Furthermore, industrial motors are used in various infrastructure projects, such as HVAC systems in commercial buildings, elevators, and escalators in urban centers, and water pumps for municipal water supply systems.

  • Energy Efficiency:

Government agencies worldwide are implementing strict energy efficiency standards and regulations for industrial equipment, including motors. Manufacturers must comply with these regulations, which require the use of energy-efficient motors in industrial applications. Energy-efficient motors consume less electricity for the same level of output, leading to substantial energy cost savings for industrial users. Businesses recognize the long-term financial benefits of investing in energy-efficient motors, making them a preferred choice. Industries are under increasing pressure to reduce their carbon footprint and environmental impact. Energy-efficient motors produce fewer greenhouse gas emissions and consume fewer resources, aligning with sustainability goals and corporate responsibility initiatives.

  • Technological Advancements:

Technological advancements are leading to the development of high-efficiency motors. These motors consume less energy and produce less heat, resulting in cost savings and reduced environmental impact for industrial users. Energy efficiency standards and regulations are also driving the adoption of these motors. Variable frequency drives (VFDs) technology allows for precise control of motor speed and power output. This not only enhances energy efficiency but also enables smoother operation and reduced wear and tear on motors.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/industrial-motors-market/requestsample

Industrial Motors Market Report Segmentation:

By Type of Motor:

  • Alternating Current (AC) Motor

  • Direct Current (DC) Motor

  • Others

Alternating current (AC) motor represented the largest segment due to its widespread use in industrial applications, offering versatility, efficiency, and compatibility.

By Voltage:

  • Low Voltage

  • Medium Voltage

  • High Voltage

Low voltage accounted for the largest market share as it is commonly used for most industrial applications, providing a balance between safety, cost-effectiveness, and efficient performance.

Regional Insights:

  • North America (United States, Canada)

  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

  • Latin America (Brazil, Mexico, Others)

  • Middle East and Africa

Asia Pacific enjoys the leading position in the industrial motors market, which can be attributed to its robust industrialization, rapid economic growth, and extensive manufacturing activities.

Top Industrial Motors Market Leaders:

The industrial motors market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:



  • ABB Ltd.

  • Brook Crompton

  • Hitachi Ltd.

  • Johnson Electric Holdings Limited

  • Menzel Elektromotoren GmbH

  • Nidec Corporation

  • Regal Rexnord Corporation

  • Rockwell Automation Inc.

  • Siemens AG

  • Toshiba Corporation

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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