Industrial Motors Market
Industrial Motors Market Forecasts to 2030 - Global Analysis By Product Type (AC Motors, DC Motors, Servo Motors and Stepper Motors), Phase (Single-Phase and Three-Phase), Voltage, Efficiency, Power Rating, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $21.5 BN |
|
Projected Year Value (2030) |
US $31.8 BN |
|
CAGR (2024-2030) |
6.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Industrial Motors Market is accounted for $21.5 billion in 2024 and is expected to reach $31.8 billion by 2030 growing at a CAGR of 6.7% during the forecast period. Industrial motors are powerful electric engines driving machinery in factories, plants, and utilities. They are designed to meet the demanding conditions of industrial environments, offering durability, efficiency, and reliability. They provide reliable performance, enhance productivity, and minimize downtime. With various types available, they can be tailored to specific applications, ensuring optimal performance. Their durability and robust design make them suitable for harsh industrial environments. Additionally, advancements in technology have improved their control, speed, and torque capabilities, boosting overall efficiency.
According to the United Nations Industrial Development Organization (UNIDO), industrial electric motors consume around 70% of the total industrial electricity consumption in developing countries and emerging economies.
Market Dynamics:
Driver:
Increasing industrial automation
The increasing industrial automation is a significant driver for the industrial motors market. As industries strive for higher efficiency, productivity, and precision, the adoption of automation technologies is on the rise. Industrial motors are essential components in automated systems, powering machinery, conveyors, and robotic arms. The shift towards smart factories and Industry 4.0 further accelerates the demand for advanced motors that can integrate with IoT and AI systems. This trend is expected to continue, driving the growth of the industrial motors market.
Restraint:
Maintenance and operational costs
The costs associated with maintenance, repairs, and downtime can be substantial, especially for large-scale operations. Additionally, the operational costs, including energy consumption, can be high, particularly for older, less efficient motors. These factors can deter companies from investing in new motor technologies, impacting market growth.
Opportunity:
Rise of industry 4.0 and smart manufacturing
The rise of Industry 4.0 and smart manufacturing presents significant opportunities for the industrial motors market. Industry 4.0 emphasizes the integration of digital technologies, such as IoT, AI, and big data analytics, into manufacturing processes. Smart manufacturing relies on advanced motor systems that can communicate, monitor, and optimize performance in real-time. The demand for intelligent, energy-efficient, and connected motors is growing as industries adopt these technologies to enhance productivity, reduce downtime, and improve overall operational efficiency. This trend is expected to drive innovation and growth in the industrial motors market.
Threat:
Increasingly stringent environmental regulations
Governments worldwide are implementing stricter regulations to reduce carbon emissions and promote energy efficiency. Compliance with these regulations often requires significant investments in new technologies and retrofitting existing systems. The cost and complexity of meeting these standards can be a burden for manufacturers, potentially slowing down the adoption of new motor technologies. Additionally, non-compliance can result in penalties and reputational damage, further impacting market growth.
Covid-19 Impact:
The COVID-19 pandemic had a mixed impact on the industrial motors market. Initially, disruptions in supply chains and manufacturing operations led to a decline in demand. However, the pandemic also accelerated the adoption of automation and digital technologies as companies sought to enhance resilience and efficiency. As industries recover and adapt to the new normal, the demand for advanced industrial motors is expected to rebound, driven by the need for automation and smart manufacturing solutions.
The AC motors segment is expected to be the largest during the forecast period
The AC Motors segment is expected to be the largest during the forecast period. AC motors are widely used across various industries due to their reliability, efficiency, and low maintenance requirements. They are essential for applications requiring constant speed and high power, such as pumps, compressors, and conveyor systems. The versatility and cost-effectiveness of AC motors make them a preferred choice for industrial applications. The ongoing advancements in AC motor technologies, including the integration of smart features and energy-efficient designs, further drive their adoption and market growth.
The IE4 segment is expected to have the highest CAGR during the forecast period
The IE4 segment is expected to have the highest CAGR during the forecast period. IE4 motors, also known as Super Premium Efficiency motors, offer superior energy efficiency compared to lower efficiency classes. The growing emphasis on energy conservation and sustainability drives the demand for IE4 motors, as they help reduce energy consumption and operational costs. Industries are increasingly adopting IE4 motors to comply with stringent energy efficiency regulations and achieve long-term cost savings. The rising awareness of environmental impact and the benefits of high-efficiency motors contribute to the rapid growth of the IE4 segment.
Region with largest share:
The Asia Pacific region is positioned to dominate the industrial motors market. The region's leadership is driven by rapid industrialization, infrastructure development, and the expansion of manufacturing activities in countries like China, India, and Japan. The growing demand for energy-efficient and high-performance motors in various industries, including automotive, electronics, and construction, fuels market growth. Additionally, government initiatives to promote smart manufacturing and energy conservation further boost the adoption of advanced industrial motors in the Asia Pacific region.
Region with highest CAGR:
The Asia Pacific region anticipates rapid growth in the industrial motors market. The region's high growth rate is attributed to the increasing investments in industrial automation, smart manufacturing, and infrastructure projects. The rising demand for efficient and reliable motor solutions in emerging economies, coupled with supportive government policies, drives market expansion. The presence of major manufacturing hubs and the continuous advancements in motor technologies further contribute to the region's rapid growth, making it a key market for industrial motors.
Key players in the market
Some of the key players in Industrial Motors Market include ABB Ltd, Siemens AG, General Electric Company, Nidec Corporation, WEG S.A., Toshiba Corporation, Regal Beloit Corporation, Rockwell Automation, Inc., Schneider Electric SE, Mitsubishi Electric Corporation, Hitachi, Ltd., Johnson Electric Holdings Limited, TECO Electric & Machinery Co., Ltd., Emerson Electric Co., Bosch Rexroth AG, SEW-Eurodrive GmbH & Co KG, Yaskawa Electric Corporation, Baldor Electric Company, Brook Crompton and Leroy-Somer.
Key Developments:
In June 2024, Nidec Corporation announced that Nidec Motor (Dalian) Limited (“Nidec Motor (Dalian)”), a corporation that the Company owns in China, has developed a new air suspension motor for automobiles. By utilizing its long-nurtured technologies for brake and power steering motors and other drivetrain products, Nidec Motor (Dalian) has developed this latest air suspension motor.
In May 2024, Siemens, a leading technology company, announced a breakthrough in the longstanding challenge of closely managing numerous hardware control points throughout the factory. The solution is the new Siemens Simatic Automation Workstation, which allows manufacturers to replace a hardware PLC, a conventional HMI and an edge device with a single, software-based workstation. This ushers in Information Technology (IT) workflows to Operational Technology (OT) environments.
In April 2024, Regal Rexnord Corporation announced that it closed the previously announced sale of its Industrial Motors and Generators business that comprises the substantial majority of its Industrial Systems segment to certain subsidiaries of WEG S.A.
Product Types Covered:
• AC Motors
• DC Motors
• Servo Motors
• Stepper Motors
Phases Covered:
• Single-Phase
• Three-Phase
Voltages Covered:
• Low Voltage Motors
• Medium Voltage Motors
• High Voltage Motors
Efficiencies Covered:
• IE1
• IE2
• IE3
• IE4
Power Ratings Covered:
• Fractional Horsepower (FHP)
• Integral Horsepower (IHP)
End Users Covered:
• Automotive
• Aerospace
• HVAC
• Food Processing Equipment
• Textile
• Transportation
• Oil & Gas
• Power Generation
• Industrial Machinery
• Plastics and Packaging
• Industrial Automation
• Water and Wastewater Treatment
• Chemicals and Petrochemicals
• Mining and Metals
• Infrastructure and Construction
• Pulp and Paper
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Industrial Motors Market, By Product Type
5.1 Introduction
5.2 AC Motors
5.2.1 Induction Motors (AC Induction Motors)
5.2.1.1 Squirrel Cage Motors
5.2.1.2 Wound Rotor Motors
5.2.2 Synchronous Motors
5.2.2.1 Permanent Magnet Synchronous Motors (PMSM)
5.2.2.2 Wound-Rotor Synchronous Motors
5.2.3 Subsynchronous Motors
5.3 DC Motors
5.3.1 Brushed DC Motors
5.3.1.1 Permanent Magnet DC Motors (PMDC)
5.3.1.2 Series-Wound DC Motors
5.3.1.3 Shunt-Wound DC Motors
5.3.1.4 Compound Wound DC Motors
5.3.2 Brushless DC Motors (BLDC Motors)
5.4 Servo Motors
5.5 Stepper Motors
6 Global Industrial Motors Market, By Phase
6.1 Introduction
6.2 Single-Phase
6.3 Three-Phase
7 Global Industrial Motors Market, By Voltage
7.1 Introduction
7.2 Low Voltage Motors
7.3 Medium Voltage Motors
7.4 High Voltage Motors
8 Global Industrial Motors Market, By Efficiency
8.1 Introduction
8.2 IE1
8.3 IE2
8.4 IE3
8.5 IE4
9 Global Industrial Motors Market, By Power Rating
9.1 Introduction
9.2 Fractional Horsepower (FHP)
9.3 Integral Horsepower (IHP)
10 Global Industrial Motors Market, By End User
10.1 Introduction
10.2 Automotive
10.3 Aerospace
10.4 HVAC
10.5 Food Processing Equipment
10.6 Textile
10.7 Transportation
10.8 Oil & Gas
10.9 Power Generation
10.10 Industrial Machinery
10.11 Plastics and Packaging
10.12 Industrial Automation
10.13 Water and Wastewater Treatment
10.14 Chemicals and Petrochemicals
10.15 Mining and Metals
10.16 Infrastructure and Construction
10.17 Pulp and Paper
10.18 Other End Users
11 Global Industrial Motors Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13.1 Company Profiling
13.1 ABB Ltd
13.2 Siemens AG
13.3 General Electric Company
13.4 Nidec Corporation
13.5 WEG S.A.
13.6 Toshiba Corporation
13.7 Regal Beloit Corporation
13.8 Rockwell Automation, Inc.
13.9 Schneider Electric SE
13.10 Mitsubishi Electric Corporation
13.11 Hitachi, Ltd.
13.12 Johnson Electric Holdings Limited
13.13 TECO Electric & Machinery Co., Ltd.
13.14 Emerson Electric Co.
13.15 Bosch Rexroth AG
13.16 SEW-Eurodrive GmbH & Co KG
13.17 Yaskawa Electric Corporation
13.18 Baldor Electric Company
13.19 Brook Crompton
13.20 Leroy-Somer
List of Tables
1 Global Industrial Motors Market Outlook, By Region (2022-2030) ($MN)
2 Global Industrial Motors Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Industrial Motors Market Outlook, By AC Motors (2022-2030) ($MN)
4 Global Industrial Motors Market Outlook, By Induction Motors (AC Induction Motors) (2022-2030) ($MN)
5 Global Industrial Motors Market Outlook, By Synchronous Motors (2022-2030) ($MN)
6 Global Industrial Motors Market Outlook, By Subsynchronous Motors (2022-2030) ($MN)
7 Global Industrial Motors Market Outlook, By DC Motors (2022-2030) ($MN)
8 Global Industrial Motors Market Outlook, By Brushed DC Motors (2022-2030) ($MN)
9 Global Industrial Motors Market Outlook, By Brushless DC Motors (BLDC Motors) (2022-2030) ($MN)
10 Global Industrial Motors Market Outlook, By Servo Motors (2022-2030) ($MN)
11 Global Industrial Motors Market Outlook, By Stepper Motors (2022-2030) ($MN)
12 Global Industrial Motors Market Outlook, By Phase (2022-2030) ($MN)
13 Global Industrial Motors Market Outlook, By Single-Phase (2022-2030) ($MN)
14 Global Industrial Motors Market Outlook, By Three-Phase (2022-2030) ($MN)
15 Global Industrial Motors Market Outlook, By Voltage (2022-2030) ($MN)
16 Global Industrial Motors Market Outlook, By Low Voltage Motors (2022-2030) ($MN)
17 Global Industrial Motors Market Outlook, By Medium Voltage Motors (2022-2030) ($MN)
18 Global Industrial Motors Market Outlook, By High Voltage Motors (2022-2030) ($MN)
19 Global Industrial Motors Market Outlook, By Efficiency (2022-2030) ($MN)
20 Global Industrial Motors Market Outlook, By IE1 (2022-2030) ($MN)
21 Global Industrial Motors Market Outlook, By IE2 (2022-2030) ($MN)
22 Global Industrial Motors Market Outlook, By IE3 (2022-2030) ($MN)
23 Global Industrial Motors Market Outlook, By IE4 (2022-2030) ($MN)
24 Global Industrial Motors Market Outlook, By Power Rating (2022-2030) ($MN)
25 Global Industrial Motors Market Outlook, By Fractional Horsepower (FHP) (2022-2030) ($MN)
26 Global Industrial Motors Market Outlook, By Integral Horsepower (IHP) (2022-2030) ($MN)
27 Global Industrial Motors Market Outlook, By End User (2022-2030) ($MN)
28 Global Industrial Motors Market Outlook, By Automotive (2022-2030) ($MN)
29 Global Industrial Motors Market Outlook, By Aerospace (2022-2030) ($MN)
30 Global Industrial Motors Market Outlook, By HVAC (2022-2030) ($MN)
31 Global Industrial Motors Market Outlook, By Food Processing Equipment (2022-2030) ($MN)
32 Global Industrial Motors Market Outlook, By Textile (2022-2030) ($MN)
33 Global Industrial Motors Market Outlook, By Transportation (2022-2030) ($MN)
34 Global Industrial Motors Market Outlook, By Oil & Gas (2022-2030) ($MN)
35 Global Industrial Motors Market Outlook, By Power Generation (2022-2030) ($MN)
36 Global Industrial Motors Market Outlook, By Industrial Machinery (2022-2030) ($MN)
37 Global Industrial Motors Market Outlook, By Plastics and Packaging (2022-2030) ($MN)
38 Global Industrial Motors Market Outlook, By Industrial Automation (2022-2030) ($MN)
39 Global Industrial Motors Market Outlook, By Water and Wastewater Treatment (2022-2030) ($MN)
40 Global Industrial Motors Market Outlook, By Chemicals and Petrochemicals (2022-2030) ($MN)
41 Global Industrial Motors Market Outlook, By Mining and Metals (2022-2030) ($MN)
42 Global Industrial Motors Market Outlook, By Infrastructure and Construction (2022-2030) ($MN)
43 Global Industrial Motors Market Outlook, By Pulp and Paper (2022-2030) ($MN)
44 Global Industrial Motors Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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