Increasing Usage of Motors in Production Process Equipment to Propel the Growth of Industrial Motors Market at a CAGR Of 3.63% in the Next Five Years
Browse 21 Market Tables, 72 figures spread through 146 Slides and an in-depth TOC on “Industrial Motors Market Analysis”
Electrical motors are machines capable of converting electrical energy into mechanical energy through an interaction between magnetic and electrical fields to generate a force inside them. The market study by IndustryARC on industrial motors segments the market based on the product type, voltage range, end-user industry and geography. Based on the product type industrial motors have been classified into IE1, IE2, IE3 and IE4. Based on the voltage range the industrial motors market has been segmented into low voltage motors, medium voltage motors and high voltage motors. Under rotor type the market has been classified into Asynchronous, Synchronous and DC motors. The market on their application in different end user industrial has been segmented to oil & gas, mining, power generation and chemical industry among others.
The global market for industrial motors is estimated to reach $37.8 billion by 2021. Increasing regulations in the waste water manager industry in Southeast Asian countries coupled with new infrastructure developments in China and India is estimated to drive the market for industrial motors. Countries such as China and India has witnessed rapid infrastructural developments in various industries such as mining, automotive, food & beverage and chemical industries which attributes to further growth of industrial motors market.
Among the major end-user industries for industrial motors, Oil and Gas industry remains the most dominant end user which held nearly 28% of the overall market followed by Mining & Metal Industry. Power and Utilities segment remains the fastest growing industry closely followed by waste water management industry. Globally various manufacturing sectors are facing several issues due to scarcity of water which are ultimately affecting their productivity. Along with this depletion of water resources and increasing awareness of users about recycle water usage are also attributing to the growth in the coming years.
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