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According to the report compiled by Fact.MR, the global industrial motor marketis expected to witness sluggish growth. The market is estimated to increase to 3.4% CAGR during the forecast period 2017-2026. By the end of 2026, the global industrial motor market is estimated to reach US$ 14,959.1 million revenue. Converting electrical energy into mechanical energy, industrial motor is used in manufacturing units. Improving standards in design and efficiency are driving manufacturers to develop and design new industrial motor that can reduce energy consumption and offer efficiency. Following are the insights on how the global industrial motor market will perform during the forecast period.
- Forecast Highlights on Global Industrial Motor Market
- Asia Pacific Excluding Japan (APEJ) is expected to be the largest region in the global industrial motor market during the forecast period 2017-2026. Owing to the rapid infrastructure development and industrialization in the countries such as India and China, APEJ is anticipated to witness the growth.
- North America and Europe are also expected to witness the growth in the global industrial motor market. New oil reserves in North America is driving the demand for industrial motor in oil and gas industry. Also, stringent government regulation in the region for saving energy and electricity is driving the demand for energy-efficient industrial motor.
- IE2 industrial motor is expected to witness the highest growth in the global industrial motor market. By the end of 2026, IE2 is estimated to surpass US$ 4,800 million revenue.
- Pumps and Fans are expected to account for nearly half of the revenue share by the end of 2017. Pumps and fans are estimated to surpass US$ 7,600 million revenue by the end of 2026.
- Among various motors, DC Brushless is expected to be the largest type of industrial motor. Between 2017 and 2026, DC Brushless motor is estimated to surpass US$ 1,900 million incremental opportunity.
- Commercial HVAC is expected to emerge as the biggest end user in the global industrial motor market. Commercial HVAC is anticipated to surpass US$ 4,400 million revenue towards the end of 2026.
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Industrial Motors to Find Largest Application in Pumps and Fans
Industrial motors are likely to find the largest application in pumps and fans. Towards 2026 end, pumps and fans are projected to create an absolute dollar opportunity of over US$ 2,300 million between 2017 and 2026. Energy efficient motors are being used on a large scale in the pumps and fans as it affects both the amount of mechanical power required by entire system and overall energy consumption.
DC Brushless Motor to be the Highly Preferred Motor Type
Compared to the various types of industrial motors, DC brushless are likely to emerge as the highly preferred motor type. DC brushless is projected to exceed US$ 6,900 million revenue by 2026 end. Brushless motor help in alleviating various issues related to the more common brushed motors. Moreover, these motors have much simple design. Brushless motors also offer various advantages such as high efficiency, minimum maintenance, and long life. These motors are finding high application in compressors, pumps and fans, where ruggedness and reliability are required.
Commercial HVAC to Emerge as the Largest User of Industrial Motor
Commercial HVAC is likely to emerge as the biggest user of the industrial motor. Commercial HVAC is projected to create an incremental opportunity exceeding US$ 1,000 million between 2017 and 2026. HVAC systems are the largest consumers of energy in the building, hence, the demand for energy-efficient industrial motor in HVAC is growing. Manufacturers are also developing smart industrial motors that reduce payback time and offer high energy saving.
The report also profiles companies that are expected to remain active in the expansion of global industrial motor market through 2026, which include Shandong Huali Electric Motor Group Co. Ltd., CG Power and Industrial Solutions Limited, Regal Beloit Corporation, Nidec Corporation, Hyosung Corporation, Toshiba Corporation, TECO Electric & Machinery Co., Ltd., WEG SA, Siemens Aktiengesellschaft, and ABB Limited.
Table of Content:
- Global Economic Outlook
- Global Industrial Motor Market - Executive Summary
- Global Industrial Motor Market Overview
3.1.1. Global Industrial Motor Market Taxonomy
3.1.2. Global Industrial Motor Market Definition
3.2. Global Industrial Motor Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global Industrial Motor Market Y-o-Y Growth
3.3. Global Industrial Motor Market Dynamics
3.4. Supply Chain
3.5. Cost Structure
3.6. Global MEPS Timeline
3.7. Service Provider List
3.8. Product Lifecycle Analysis
3.9. Key Participants Market Presence (Intensity Map) By Region
- Global Industrial Motor Market Analysis and Forecast 2012-2026
4.1. Global Industrial Motor Market Size and Forecast By Efficiency, 2012-2026
4.1.1. IE1 Market Size and Forecast, 2012-2026
126.96.36.199. Revenue (US$ Mn) Comparison, By Region
188.8.131.52. Market Share Comparison, By Region
184.108.40.206. Y-o-Y growth Comparison, By Region
4.1.2. IE2 Market Size and Forecast, 2012-2026
220.127.116.11. Revenue (US$ Mn) Comparison, By Region
18.104.22.168. Market Share Comparison, By Region
22.214.171.124. Y-o-Y growth Comparison, By Region
4.1.3. IE3 Market Size and Forecast, 2012-2026
126.96.36.199. Revenue (US$ Mn) Comparison, By Region
188.8.131.52. Market Share Comparison, By Region
184.108.40.206. Y-o-Y growth Comparison, By Region
4.1.4. IE4 Market Size and Forecast, 2012-2026
220.127.116.11. Revenue (US$ Mn) Comparison, By Region
18.104.22.168. Market Share Comparison, By Region
22.214.171.124. Y-o-Y growth Comparison, By Region
4.1.5. DC and others Market Size and Forecast, 2012-2026
126.96.36.199. Revenue (US$ Mn) Comparison, By Region
188.8.131.52. Market Share Comparison, By Region
184.108.40.206. Y-o-Y growth Comparison, By Region
4.2. Global Industrial Motor Market Size and Forecast By Application Type, 2012-2026
4.2.1. Compressors Market Size and Forecast, 2012-2026
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