About Industrial Motors
The industrial motor is construction equipment majorly used from the various countries. It provides monitoring current, sensing temperature, high accuracy for motor control. This industry demands majorly for electric motors. The manufacturing companies are highly focusing on investing in new motor control technologies that reduce energy consumption.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on the production technologies, efficiency enhancement, and product life. There is a various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Industrial Motors market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Siemens (Germany), Mitsubishi (Japan), General Electric (United States), Hitachi (Japan), Nidec (Japan), Toshiba (Japan), Regal Beloit (United States), WEG (Brazil) and Teco (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Emerson (United States), Meidensha (Japan) and Franklin Electric (United States).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Motors market by Type (High Voltage Motor and Low Voltage Motor), Application (Oil & Gas, Power Generation, Mining & Metal, Industrial Machinery and Others) and Region.
On the basis of geography, the market of Industrial Motors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Power Source, the sub-segment i.e. AC will boost the Industrial Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Distributors will boost the Industrial Motors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in Market Competency and High Availability on Online Platforms
Market Growth Drivers:
Increased Demand from Major Industries, Development in Commercial and Residential Sectors and Rising Presence of Energy-Efficient Motors
Challenges:
High Cost Required in Maintenance and Installation
Restraints:
Gray Market Providing Low-Quality and Inexpensive Products and Slowdown in Construction Industry Because Coronavirus Pandemic
Opportunities:
Huge Growth Potential for Electric Vehicles in Emerging Countries and Development in Robotics Technology
Market Leaders and their expansionary development strategies
In September 2023, World's second-largest low voltage ac motor manufacturer, WEG, announced it would acquire the industrial electric motors and generators business from Regal Rexnord for USD 400 million.
In Oct 2020, Tekwell Services revealed its service for industrial electric motors and pumps. The company is aggressively investing its new testing equipment to its customers. Through this strategic initiative, the company is aiming to capture market growth opportunities.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Industrial Motors Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.