The global industrial motorsmarket size reached US$ 22.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.52% during 2023-2028.
An industrial motor relies on alternating current (AC) resources, such as power grids or generators, to work efficiently and transform electrical energy into mechanical energy. It is highly efficient as it does not use fuel and requires engine-oil maintenance compared to other electrical devices. In addition, it is highly durable with a long lifespan as an industrial motor contains few moving parts that operate smoothly. As a result, it is used in blowers, industrial fans, machine tools, pumps, power tools, compressors, turbines, rolling mills, alternators, ships, movers, and paper mills.
Industrial Motors Market Trends:
The growing utilization of electric motors in industrial processes and auxiliary systems, such as compressed air generation, ventilation, and water pumping, represents one of the key factors driving the market. Moreover, there is a rise in the demand for alternating current (AC) motors as they are more reliable with low maintenance costs. This, along with the increasing utilization of AC motors in pumps, water heaters, ovens, and off-road motorized and garden equipment, is propelling the growth of the market. In addition, key market players are extensively investing in research and development (R&D) activities to introduce electric motors with a high power-to-weight ratio for reducing energy consumption and resolving portability issues. This, coupled with the growing number of smart manufacturing pilot projects by governments of several countries, is catalyzing the demand for industrial motors. Besides this, the escalating demand for industrial motors that can save energy and reduce operational costs in organizations is contributing to the growth of the market. Furthermore, the rising need for water recycling due to the depletion of water resources across the globe is expected to bolster the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial motorsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type of motor, voltage and end user.
Breakup by Type of Motor:
Alternating Current (AC) Motor
Direct Current (DC) Motor
Breakup by Voltage:
Breakup by End User:
Oil and Gas
Mining and Metals
Water and Wastewater Management
Chemicals and Petrochemicals
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Base Year of the Analysis
Type of Motor, Voltage, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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.
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Key Questions Answered in This Report
The global industrial motors market was valued at US$ 22.5 Billion in 2022.
We expect the global industrial motors market to exhibit a CAGR of 4.52% during 2023-2028.
The rising demand for industrial motors in commercial processes and auxiliary systems, such as ventilation, compressed air generation, water pumping, etc., is primarily driving the global industrial motors market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for industrial motors.
Based on the type of motor, the global industrial motors market can be segmented into Alternating Current (AC) motor, Direct Current (DC) motor, and others. Currently, Alternating Current (AC) motor holds the majority of the total market share.
Based on the voltage, the global industrial motors market has been divided into low voltage, medium voltage, and high voltage. Among these, low voltage currently exhibits a clear dominance in the market.
Based on the end user, the global industrial motors market can be categorized into oil and gas, power generation, mining and metals, water and wastewater management, chemicals and petrochemicals, discrete manufacturing, and others. Currently, oil and gas accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global industrial motors market 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.
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