Industrial Motor Market Overview:
Industrial Motor Market size is estimated to reach $33 billion by 2030, growing at a CAGR of 4.24% during the forecast period 2024-2030. Growing demand for industrial motors in the Automotive and Oil and Gas industries, Growth of Chemicals & Petrochemicals industries leading to the adoption of industrial motors and Ongoing technological advancements in industrial motors, including improvements in efficiency, smart motor technologies, and IoT integration are propelling the Industrial Motor Market growth.
Additionally, increasing production of electric vehicles has accelerated the demand for industrial motors for higher efficiency and good speed regulation during the forecast period is also boosting the growth of the market. The demand for industrial motors is being propelled by increased manufacturing activities, especially in emerging economies. In May 2023, ABB ltd. acquired the Siemens low voltage NEMA motor business. The acquisition of this business area’s profitable growth strategy. The rising focus on sustainable energy sources and initiatives for green manufacturing are further driving market growth. Manufacturers are emphasizing the development of more reliable, efficient, and environmentally friendly motor solutions to meet evolving industry demands. Furthermore, rising number of government incentives to encourage use of energy efficient industrial motors for safeguarding the environment from carbon emissions is also expected to drive the market growth during the forecast period.
Industrial Motor Market - Report Coverage:
The “Industrial Motor Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Industrial Motor Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
- The COVID-19 pandemic significantly impacted the Industrial Motors Market, catalyzing a shift toward Industry 4.0 and enhancing manufacturing productivity. This crisis accelerated changes in logistics, emphasizing the importance of resilient supply chains and driving the adoption of advanced AC motors.
- The Russia-Ukraine war significantly disrupted the Industrial Motors Market due to supply chain interruptions, heightened geopolitical tensions, and trade restrictions. Increased uncertainty led to fluctuating prices, limited access to raw materials, and challenges in manufacturing, impacting the market's stability and growth prospects.
Key Takeaways:
Fastest Growth of North America Region
Geographically, in the global Industrial Motor market share, North America is analyzed to grow with the highest CAGR of 5.5% during the forecast period 2024-2030. The increasing adoption of industrial motors in power generation, aerospace, automotive and chemical industries is analyzed to expand Industrial Motor Market in this region. USA, Canada and Mexico are the top contributors in industrial motor market growth in this region. Moreover, a rising number of government incentives to encourage use of energy efficient industrial motors for safeguarding the environment from carbon emissions is expected to drive the market growth. For instance, USA has planned to increase carbon-free power generation from 27% to 35% of total by 2025, thus increasing the scope of adoption of energy efficient motors among industries.
AC Motors to Register the Fastest Growth
In the Industrial Motor Market analysis, the AC motors segment is estimated to grow with the highest CAGR of 4.5% during the forecast period. These motors are the major type of industrial motors used in industrial applications like used in conveyors, cranes, pumps, elevators, compressors, drilling machines, oil extracting mills and others. Asynchronous motors have lot of advantages such as less cost, easy to maintain, efficiency in partial-load operation and others. Owing to its advantages, the adoption rate is higher among industries, thus supporting the growth of the Industrial Motor Market. In June 2023, ABB Ltd. developed the new generation AMI 5800 NEMA modular induction motor to offer exceptional energy efficiency and reliability in demanding such as pumps, compressors and conveyors.
Oil & Gas is Leading the Market
According to the Industrial Motor Market forecast, the Oil & Gas held the largest market valuation of 23% in 2023. The growth of industrial motors in the Oil & Gas industry is majorly driven by rising investment for the expansion id Oil & Gas production owing to the rising energy demands. The government of India invested $2.86 billion in upstream oil & gas production to double natural gas production to 60 cm and drill more than 120 exploration wells in 2022.
Growing demand for industrial motors in the Automotive and Oil and Gas industries will positively impact the market growth
Increasing demand for industrial motors in the Automotive and Oil and Gas industries will positively impact the market growth. Rising investments for the expansion of oil and gas production across the world owing to the rising energy demands also triggers the growth of the market. In 2022, the Government of India invested $2.86 billion in the upstream oil and gas production to double natural gas production to 60 bcm and drill more than 120 exploration wells. These major investments tend to bring significant growth in the demand of industrial motors for Upstream Oil and Gas industry, further driving its market growth during the forecast period.
Growth of Chemicals & Petrochemicals industries leading to the adoption of industrial motors is analyzed to drive the market growth in the forecast period
The Industrial Motors Market is set to expand owing to the escalating Chemicals & Petrochemicals industries. As these sectors burgeon, there's a heightened demand for motors, driven by factors such as automation, machinery modernization, and energy efficiency initiatives. Rising production levels, stringent regulations mandating energy-efficient equipment, and technological advancements amplifying motor performance are pivotal growth catalysts. With the Chemicals & Petrochemicals sectors requiring robust motor systems for various applications, this surge in demand is projected to propel the Industrial Motors Market in the forecast period.
High Cost of Raw Materials to Manufacture Industrial Motors Can Hamper the Market Growth
High cost of raw materials to manufacture industrial motors can act as a major challenge restraining the growth of Industrial Motor Market. The cost of raw material such as metals which includes steel, aluminium and insulation materials are quite expensive. Moreover, these industrial motors consume more electricity which results into rise of cost per unit. Furthermore, availability of low-quality industrial motors is another factor that can hamper the market growth. Leading industrial motor manufacturing companies are facing intense competition from local motor manufacturers supplying inexpensive and low-quality AC and DC Motors to tap local markets, thus competing strongly with the global suppliers in the respective markets. Owing to the above-mentioned factors, use of energy efficient industrial motor will be significantly impacted, thus hampering its market growth.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Industrial Motor Market. The top 10 companies in this industry are listed below:
- ABB Ltd
- Bosch Electric
- Nidec Corporation
- Regal Rexnord
- Franklin Electric Company Inc.
- Teco electric & machinery co. ltd.
- Johnson Electric
- Woolong (General Electric Company)
- Vybronics
- Mabuchi Motor Co., Ltd.
- Bonfiglioli Group
- Siemens AG
- General Electric
- Toshiba Corporation
- Rockwell Automation Inc
1.Industrial Motor Market - Market Overview 1.1 Definitions and Scope
2. Industrial Motor Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by Product type
2.3 Key trends by End User
2.4 Market share
2.5 Key trends by Geography
3. Industrial Motor Market– Market Landscape
3.1 Comparative Analysis
3.1.1 Product Benchmarking-Top 4 Companies
3.1.2 Top 4 Financial Analysis
3.1.3 Patent Analysis
3.1.4 Market Share
3.1.5 Pricing Analysis
4. Industrial Motor Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints/Challenges
4.3 Porters five force model
4.3.1 Bargaining power of suppliers
4.3.2 Bargaining powers of customers
4.3.3 Threat of new entrants
4.3.4 Threat of substitutes
4.3.5 Rivalry among existing players
5. Industrial Motor Market – By Strategic Analysis (Market Size -$Million/Billion)
5.1 Value Chain Analysis
5.2 Opportunities Analysis
5.3 Market Life Cycle Analysis
6. Industrial Motor Market – Startup companies Scenario Premium
6.1 Top 10 startup company Analysis by
6.1.1 Investment
6.1.2 Revenue
6.1.3 Market Shares
6.1.4 Market Size and Application Analysis
6.1.5 Venture Capital and Funding Scenario
7. Industrial Motor Market – Industry Market Entry Scenario Premium
7.1 Regulatory Framework Overview
7.2 New Business and Ease of Doing business index
7.3 Case studies of successful ventures
7.4 Customer Analysis – Top 4 companies
8. Industrial Motor Market- By Product Type
8.1 AC
8.1.1 By Phase
8.1.1.1 Single Phase
8.1.1.2 Three Phase
8.1.2 By Operation
8.1.2.1 Asynchronous
8.1.2.2 Synchronous
8.2 DC
8.2.1 Brushed (BDC)
8.2.2 Brushless (BLDC))
9. Industrial Motor Market- By Power Rating
9.1 <1kW
9.2 >1kW<2,2kW
9.3 >2,2kW< 3,5kW
9.4 3.5-25 kW
9.5 25-100 kW
9.6 Above 100 kW
10. Industrial Motor Market - By Voltage
10.1 Low Voltage
10.1.1 IE1
10.1.2 IE2
10.1.3 IE3
10.1.4 IE4
10.2 Medium Voltage
10.2.1 IE1
10.2.2 IE2
10.2.3 IE3
10.2.4 IE4
10.3 High Voltage
10.3.1 IE1
10.3.2 IE2
10.3.3 IE3
10.3.4 IE4
11. Industrial Motor Market - By Applications
11.1 Oil & Gas
11.1.1 Upstream
11.1.2 Midstream
11.1.3 Downstream
11.2 Aerospace
11.2.1 Actuation
11.2.2 Air and Thermal System
11.2.3 Aircraft Engines
11.3 Automotive
11.4 HVAC
11.4.1 Heating
11.4.2 Ventilating
11.4.3 Air Conditioning
11.5 Paper and Pulp
11.5.1 Feed and Conveyor Systems
11.5.2 Fans and Blowers
11.5.3 Reeling and Rolling Machines
11.5.4 Mixers
11.5.5 Others
11.6 Food and Beverage
11.6.1 Milling
11.6.2 Grinding and Mixers
11.6.3 Conveyor Systems
11.6.4 Pumping Systems
11.6.5 Packaging
11.6.6 Others
11.7 Textile
11.7.1 Mixing and Beating Machines
11.7.2 Carding Machines
11.7.3 Winding Machines
11.7.4 Washers and Pumps
11.7.5 Blowers
11.7.6 Others
11.8 Transportation
11.8.1 Logistics and Warehousing
11.8.1.1 Manual Cranes and Hoists
11.8.1.2 ASRS Systems
11.8.1.3 Belt Conveyors
11.8.1.4 Others
11.8.2 Railways
11.8.2.1 Traction
11.8.2.2 Blowers
11.8.2.3 Others
11.9 Power Generation
11.9.1 Coal, Gas and Oil-Fired Plants
11.9.2 Nuclear Power Plants
11.9.3 Geothermal Power Plants
11.9.4 Hydro Power Plants
11.9.5 Wind Mills
11.9.6 Others
11.10 Agriculture
11.10.1 Pumping Systems
11.10.2 Grain Handling and Conveyor System
11.10.3 Aeration and Conditioning
11.10.4 Feed Delivery Systems
11.10.5 Others
11.11 Chemical
11.11.1 Pumps
11.11.2 Fans
11.11.3 Blowers and Compressors
11.11.4 Centrifuges
11.11.5 Agitators and Mixers
11.11.6 Others
11.12 Industrial Machinery
11.12.1 Machine Tools
11.12.2 Assembly Line and Conveyor Systems,
11.12.3 Others
11.13 Plastics and Packaging
11.14 Industrial Automation
11.15 Others
12. Suppliers Analysis (Market information will be given for each Company with various End-User Vertical, By Value ($Mn) and Volume (Thousand Units)
12.1 ABB
12.2 Bosch
12.3 Delphi
12.4 Fanuc
12.5 Maxcon
12.6 Nidec
12.7 Omron
*Note: 20 companies information will be provided for above supplier analysis
13. Spend Analysis by Consumers (Market information will be given for each Company with various End-User Vertical, By Value ($Mn) and Volume (Thousand Units)
13.1 Audi
13.2 Tesla
13.3 GE
13.4 Fanuc
13.5 Pratt & Whitney
13.6 Rolls Royce
13.7 Omron
*Note: 15 companies information will be provided for above spend analysis by consumers
14. Industrial Motors Bill of Material (BOM) component breakdown analysis (Analysis will be given for each type of AC/DC motor with their sub-segments
14.1 Bearing
14.2 Connector
14.3 Housing
14.4 Insulation
14.5 Magnets
14.6 Retainer
14.7 Rotor Fe
14.8 Rotor Wire
14.9 Shaft
14.10 Stator Fe
14.11 Stator Wire
14.12 Wire Harness
14.13 Others ( Will be added in the project execution stage)
15. Industrial Motors Market - By Geography (Market Size -$Million/ Billion)
15.1 North America
15.1.1 US
15.1.2 Canada
15.1.3 Mexico
15.2 South America
15.2.1 Brazil
15.2.2 Argentina
15.2.3 Chile
15.2.4 Colombia
15.2.5 Others
15.3 Europe
15.3.1 UK
15.3.2 Italy
15.3.3 France
15.3.4 Germany
15.3.5 Spain
15.3.6 Russia
15.3.7 Netherland
15.3.8 Others/ Rest of Europe
15.4 Asia Pacific ( APAC)
15.4.1 China
15.4.2 South Korea
15.4.3 India
15.4.4 Japan
15.4.5 Australia
15.4.6 Indonesia
15.4.7 Malaysia
15.4.8 Others
15.5 ROW
15.5.1 Middle East
15.5.2 Africa
16. Industrial Motor Market - Market Entropy
17. Industrial Motor Market – Industry / Segment Competition landscape Premium
17.1 Market Share Analysis
17.2 Market Share by Country- Top companies
17.3 Market Share by region – Top 10 companies
17.4 Market share by type of Application- Top 10 Companies
17.5 Market share by type of Product- Top 10 companies
17.6 Market share at global level- Top 10 Companies
17.7 Best Practices for Companies
18. Industrial Motor Market – Key Company List by Country Premium
19. Industrial Motor Market - Company Analysis
19.1 ABB Ltd
19.2 Siemens AG
19.3 Nidec Corporation
19.4 Brook Crompton UK LIMITED
19.5 WEG S.A.
19.6 Emerson Electric Co
19.7 Rockwell Automation Inc
19.8 TECO Electric & Machinery Co., Ltd
19.9 Danfoss
19.10 Toshiba Corporation
19.11 Regal Rexnord Corporation
19.12 Parker-Hannifin Corporation
19.13 Fuji Electric Co., Ltd
19.14 Eaton Corporation plc
19.15 General Electric
19.16 FANUC CORPORATION
19.17 AMETEK, Inc
19.18 Allied Motion Technologies Inc
19.19 Hitachi, Ltd
19.20 Bosch Rexroth AG
"*Financials would be provided on a best efforts basis for private companies*"
