This site uses cookies, including third-party cookies, that help us to provide and improve our services. Privacy Policy

Industrial Motor Market

Industrial Motor Market

Industrial Motor Market Analysis by Efficiency (IE1, IE2, IE3, IE4), by Motor Type (DC Brushed motor, DC Brushless motor, Stepper motor, Traction Motor), by Application, by End Use Vertical & Regional Forecast 2022-2032

Industrial Motor Market
FACT355MR

Global Industrial Motor Market Snapshot

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.

Report Attribute

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

  • ABB Limited
  • Siemens Aktiengesellschaft.
  • WEG SA
  • TECO Electric & Machinery Co., Ltd.
  • Toshiba Corporation
  • Hyosung Corporation
  • Nidec Corporation
  • Regal Beloit Corporation
  • CG Power and Industrial Solutions Limited
  • Shandong Huali Electric Motor Group Co. Ltd.

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.

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.

Avail customized purchase options for your needs

Industrial Motor Market Historical Overview (2017-2021) Vs. Forecast Outlook (2022-2032)

  • East Asia industrial motor market have been generating maximum revenue for industrial motor manufacturers from past half-decade. Around 37.8% of overall market valuation for industrial motor was generated by Asian countries in 2021 which is forecast to surpass valuation of USD 10.2 Billion by 2032 end, growing with 3.1% CAGR. Industrial motor business in China generated around 67.6% share of total business in 2021 and is projected to grow with exciting CAGR of 3.5% during 2022-2032.
  • Global industrial motor market grew with CAGR of 2.1% with an absolute $ opportunity of USD 8.2 Billion during 2017-2021.
  • DC brushless motor segment held the maximum market share ~34.2% in 2021 and is expected to gain 460 BPS within the forecast period by contributing the market with share of ~38.9% by end of 2032 that is around USD 10.1 Billion.
  • Under end use for industrial motor, its use in pump and fan is estimated to hold market share of ~23.4% in 2022 and is likely to provide an absolute $ opportunity of USD 2.6 Billion by reaching a market valuation of USD 6.7 Billion in 2032.

An Adaptive Approach to Modern-day Research Needs

Region-wise Insights

How East Asia is projected to Witness Largest Share for Market of Industrial Motor during the Forecast Period?

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.

Industrial Motor Market forecast analysis by Fact.MR

Category-wise Insights

Why DC Brushless Motor to be the Highly Preferred Motor Type?

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.

Which End Use of Industrial Motor Driving the Demand for This Market?

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.

What is the Scenario of Industrial Motors in Application of Pumps and Fans?

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.

Interested to Procure The Data

Competitive Landscape: Top Companies in Industrial Motor Market

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.

Global Industrial Motor Market Segments

  • By Efficiency :

    • IE1
    • IE2
    • IE3
    • IE4
    • DC and others
  • By Application :

    • Compressors
    • Pumps & Fans
    • Conveyors
    • Crushers
    • Extruders
    • Other Applications
  • By Motor Type :

    • DC Brushed motor
    • DC Brushless motor
    • Stepper motor
    • Traction Motor
  • By End Use Vertical :

    • Commercial HVAC
    • F&B Manufacturing
    • Mining
    • Utilities
    • Other Sectors
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

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.

Need an Exclusive Report for your Unique Requirement?

- Related Reports -

Vibration Motors Market

Vibration Motors Market is expected to grow at a CAGR of 14.1% during 2022-2032. Sales of brushed co...

Motor Lamination Material Market

Motor Lamination Material Market is expected to witness notable growth during 2021-2031. Increasing ...

Gear reduction motor Market

Gear reduction motor Market research report covers detailed information on Global Gear reduction mot...

Drone Motor Market

Drone Motor Market research report covers detailed information on Global Drone Motor Market Size, Sh...

- Our Clients -

Report Client