The global inverter duty motors market size reached US$ 5.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.0 Billion by 2032, exhibiting a growth rate (CAGR) of 8% during 2024-2032. Escalating demand for energy-efficient and high-performance motors in various end-use industries, continual technological developments in motor design and technology, and the accelerating demand for electric vehicles (EVs) represent some of the key factors driving the market.
|Market Size in 2023
||US$ 5.0 Billion
|Market Forecast in 2032
||US$ 10.0 Billion
|Market Growth Rate 2024-2032
Inverter duty motors are a type of electric motor that are designed to operate efficiently and reliably with variable frequency drives (VFDs) that control the speed and torque effectively. These motors are made up of materials such as stainless steel or cast iron that can withstand high temperatures and corrosive environments with specialized windings and insulation systems. Inverter duty motors can withstand high voltage spikes, voltage surges, and other electrical stresses that can occur when operating with VFDs. These motors are also well-equipped to withstand several environmental conditions, including high temperatures, humidity, and corrosive environments. These motors provide numerous advantages over standard motors, which includes enhanced energy efficiency, increased reliability and higher durability. As a result, they are used in a wide range of applications and are available in different sizes, speeds, and power ratings that are customized according to a particular end-use industry.
Inverter Duty Motors Market Trends:
The escalating demand for energy-efficient and high-performance motors in various end-use industries is a significant factor driving the market. This can be attributed to the growing need for heavy-duty motors that can operate under highly demanding conditions. In line with this, the rapid utilization of variable frequency drives (VFDs) in numerous industrial applications is resulting in a higher uptake of inverter duty motors. Moreover, continual technological developments in motor design and technology such as the advent of anti-corrosive, high-precision, and automated motors are also creating lucrative growth opportunities in the market. In addition to this, the emerging trend of industrial automation leading to a higher adoption of high-speed and high-precision motors are providing an impetus to the market. The market is further fueled by the growing number of construction and infrastructure development activities across the globe. Apart from this, the increasing need for inverter duty motors in the manufacturing of various HVAC appliances is also acting as a significant growth-inducing factor. Besides this, the accelerating demand for electric vehicles (EVs) and the expansion of EV manufacturing facilities are also propelling the demand for inverter duty motors on a global level. Some of the other factors contributing to the market include rapid urbanization, inflating disposable income levels and extensive research and development (R&D) activities conducted by the key players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global inverter duty motors market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on construction material, standard, application, and end user.
Construction Material Insights:
- Laminated Steel
- Cast Iron
The report has provided a detailed breakup and analysis of the inverter duty motors market based on the construction material. This includes laminated steel, cast iron, and aluminium. According to the report, cast iron represented the largest segment.
The report has provided a detailed breakup and analysis of the inverter duty motors market based on the standard. This includes IEEE, NEMA, and others. According to the report, IEEE represented the largest segment.
The report has provided a detailed breakup and analysis of the inverter duty motors market based on the application. This includes pumps, conveyors, fans, extruders, and others. According to the report, pumps represented the largest segment.
End User Insights:
- Metal and Mining
- Chemicals and Oil and Gas
- Paper and Pulp
- Food and Beverage
A detailed breakup and analysis of the inverter duty motors market based on the end user has also been provided in the report. This includes metal and mining, chemicals and oil and gas, paper and pulp, food and beverage, and others. According to the report, chemicals and oil and gas accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for inverter duty motors. Some of the factors driving the North America inverter duty motors market include continual technological advancements in motor design and functions, rapid industrialization, growing number of construction and infrastructure development activities, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global inverter duty motors market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, Detailed profiles of all major companies have been provided. Some of the companies covered include ABB Ltd., Adlee Powertronic Co. Ltd., Bison Gear & Engineering Corporation, Bodine Electric Company, Fukuta Elec. & Mach. Co. Ltd., Havells India Limited, Megha Roto-Tech Pvt. Ltd., Nidec Corporation, Regal Rexnord Corporation, Rockwell Automation Inc., TECO Electric & Machinery Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Inverter Duty Motors Market Report Scope:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Construction Material
- End User
|Construction Materials Covered
||Laminated Steel, Cast Iron, Aluminium
||IEEE, NEMA, Others
||Pumps, Conveyors, Fans, Extruders, Others
|End Users Covered
||Metal and Mining, Chemicals and Oil and Gas, Paper and Pulp, Food and Beverage, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ABB Ltd., Adlee Powertronic Co. Ltd., Bison Gear & Engineering Corporation, Bodine Electric Company, Fukuta Elec. & Mach. Co. Ltd., Havells India Limited, Megha Roto-Tech Pvt. Ltd., Nidec Corporation, Regal Rexnord Corporation, Rockwell Automation Inc., TECO Electric & Machinery Co. Ltd., etc.
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Key Questions Answered in This Report:
- How has the global inverter duty motors market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global inverter duty motors market?
- What is the impact of each driver, restraint, and opportunity on the global inverter duty motors market?
- What are the key regional markets?
- Which countries represent the most attractive inverter duty motors markets?
- What is the breakup of the market based on the construction material?
- Which is the most attractive construction material in the inverter duty motors market?
- What is the breakup of the market based on the standard?
- Which is the most attractive standard in the inverter duty motors market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the inverter duty motors market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the inverter duty motors market?
- What is the competitive structure of the global inverter duty motors market?
- Who are the key players/companies in the global inverter duty motors market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the inverter duty motors market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global inverter duty motors market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the inverter duty motors industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.