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I AgreeAnalysis of Industrial Motor market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global industrial motor market is estimated at USD 17.7 Billion in 2022 and is forecast to reach USD 25.9 Billion by 2032, growing at a CAGR of 3.9% during 2022-2032.
Fact.MR estimates that industrial motor market accounted around ~16% of the global motors market in 2021 due to the fact that companies started moving towards using technically advanced industrial motors that can save energy as well as reduce operation cost in recent past.
Report Attributes |
Details |
Market size value in 2021A |
USD 17.5 Billion |
Market estimated value in 2022E |
USD 17.7 Billion |
Market forecast value in 2032F |
USD 25.9 Billion |
Global Growth Rate (2022-2032) |
CAGR 3.9% |
East Asia Market Size in 2021 |
USD 6.6 Billion |
East Asia Market Growth Rate (2022-2032) |
CAGR 3.1% |
Top 5 Companies Market Share in 2021 |
~34% |
Key Companies Profiled |
|
Also among various motor designs used in industrial applications, DC motors being used in servo applications on a large scale where accuracy and speed are important uplifted this market. Meanwhile, AC motors were also being largely used in heating and cooling equipment.
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The East Asia industrial motor market is expected to provide maximum absolute $ opportunity to its manufacturers comprehended by the availability of strong supply chain networks of industrial motor manufacturers in this region.
Various industrial motors end use industries such as mixers, HVAC, pumps, hydraulics, and fans ha ve been expanding on a remarkable rate over past half-decade and similar trend is to be followed for upcoming decade. Thus, this region is expected to act as a constant source of demand for industrial motor manufacturers over the forecast period and generate considerable revenue for them.
Comprehending the aforementioned factors, China industrial motor market is estimated at USD 4.5 Billion in 2022 and is forecast to surpass market valuation of USD 7.3 Billion by end of 2032, growing at an exciting rate of 3.5% during the forecast period.
In addition, East Asia industrial motor market is forecast to surpass USD 10.2 Billion in 2032 out of which ~80% share is projected to be generated through China and Japan industrial motor markets during the same year.
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The report has estimated that during the forecast period, sales of DC brushless motor will gain highest traction.
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 USD 10.1 Billion revenue by 2032 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.
Comprehending the aforementioned factors, DC brushless motor segment in motor type of industrial motors is projected to grow at 3.7% CAGR during 2022-2032 and is estimated to value around USD 6.7 Billion in 2022. This segment is projected to cover share around ~34.3% market valuation for industrial motor by 2022.
Commercial HVAC is likely to emerge as the biggest user of the industrial motor. Commercial HVAC is projected to create an incremental opportunity exceeding USD 2.6 Billion during 2022-2032.
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. Due to which, this particular end use is projected to provide maximum revenue generating opportunities for manufacturers.
Industrial motors are likely to find the largest application in pumps and fans. Towards 2032 end, pumps and fans segment in industrial motors market is forecast to value around USD 6.7 Billion and is projected to create an absolute dollar opportunity of over USD 2.6 Billion during 2022-2032.
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. Thus, demand of industrial motors in pumps and fans is projected to gain 460 BPS during the forecast period of 2022-2032 and grow with CAGR of 4.2% during the same.
The global industrial motor market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced industrial motor.
Fact.MR has provided detailed information about price points of top manufacturers of industrial motor positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
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The global value of industrial motor market is estimated to be worth over USD 17.7 Billion in 2022.
Value of industrial motor market in 2032 is forecast to surpass USD 25.9 Billion by 2032 end.
During 2017-2021, global industrial motor market grew at 2.1% CAGR.
DC brushless motor segment is estimated to provide an absolute $ opportunity of USD 4.0 Billion during the forecast period (2022-2032).
East Asia topped the global industrial motor market by accounting around ~37.8% of the total market valuation for industrial motors in 2021.