Industrial Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Industrial Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A5850
Buy Now

Market Overview:

The global industrial motors market 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.

Global Industrial Motors Market

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 motors market 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
  • Others
     

Breakup by Voltage:

  • Low Voltage
  • Medium Voltage
  • High Voltage
     

Breakup by End User:

  • Oil and Gas
  • Power Generation
  • Mining and Metals
  • Water and Wastewater Management
  • Chemicals and Petrochemicals
  • Discrete Manufacturing
  • Others
     

Breakup by Region:

  • 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

Competitive Landscape:

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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type of Motor, Voltage, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Industrial Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Select License Type



Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More