Industrial Motors Market Disrupted By Environment-Friendly Electric Motors

IndustryARC has recently published a fresh business intelligence report on the global industrial motors market, outlining recent developments by ten key market players of automation and instrumentation worldwide. The report covers a multitude of topics comprehensively with a descriptive framework that provides assessment of demand share expansion, segmentation, company profiles, and market forces.

According to the report, the global industrial motors market will expand at a compound annual growth rate (CAGR) of 2.9% during the forecast period of 2019-2025, and attain a sizable revenue of $36.6 billion in the year 2025. “Machine technology has been developed and increasing rapidly and has provided the manufacturing and service industry with highly diversified types of industrial motors. The selection and features of the industrial motors vary widely with the nature of the application and the type of duty they are expected to perform,” says the analyst of the report.

The report is titled ‘Industrial Motors Market: By Voltage (Very Low, Low, Medium, High), By Product Type (AC, DC, EMC); By End User (Oil and Gas, Power Generation, Mining, Others) & Geography - Forecast (2019-2025).’

The ten companies assessed in the industrial motors market report include ABB Group Ltd., Emerson Electric Co., Siemens AG, Teco Electric And Machinery Co. Ltd. Company, Weg S.A., Rockwell Automation, Nidec Motor Corporation, Danfoss Industries Pvt. Ltd., Regal Beloit Corporation, and Toshiba Corporation. 

While evaluating the key market players, IndustryARC observed diverse forces and disruptive trends influencing the industrial motors market. Rapid industrialization coupled with rising expansion and production in end-user industries, technological advancement transforming industrial equipment composition, incessantly increasing electricity rates, and stringent energy standards will collectively impact industrial motors market. Inanimate products including industrial fans, conveyors, fan blowers, and others have observed a subtle increase in industrial motors including, thereby providing impetus to the market.  

APAC region houses three of the world’s ten topmost emerging economies- Singapore, Japan, and Hong Kong. Additionally, China and India have contributed distinguishable developments to industrial production worldwide. Inadvertently, APAC held $12.1 billion demand share of industrial motors market in 2018. Some contributing factors include China’s mandated usage of energy efficient production techniques, upgradation of Minimum Energy Performance Standards in China and India, and consistently growing automotive industry in major APAC countries.       

The industrial motors market is disrupted by ABB Ltd. motors functioning in explosive atmospheres including dust ignition protection motors, non-sparking motors, flameproof generators, and pressurized motors. Further evaluation of the report brings forth the rising demand for environment-friendly industrial motors. Industries are experiencing a gradual shift from traditional diesel and oil motors to electric motors. Electric motors exhibit several characteristics including less energy consumption, longevity, and minimal voltage issues.