{"product_id":"industrial-motors-market-global-outlook-forecast-2023-2028","title":"Industrial Motors Market - Global Outlook \u0026 Forecast 2023-2028","description":"\u003cp\u003eIndustrial Motors Market - Global Outlook \u0026amp; Forecast 2023-2028\u003cbr\u003e\nThe global industrial motors market is expected to grow at a CAGR of 6.39% from 2022-2028.\u003c\/p\u003e\n\n\u003cp\u003eMARKET TRENDS \u0026amp; OPPORTUNITIES\u003c\/p\u003e\n\n\u003cp\u003eDemand for IE4 Efficiency Low Voltage Motors\u003c\/p\u003e\n\n\u003cp\u003eThere is a growing focus on energy efficiency and sustainability across industries worldwide. In response, manufacturers seek more energy-efficient motor options to reduce energy consumption and operating costs. IE4 efficiency motors offer significant energy savings compared to older, less efficient models. Apart from this, several regulations and standards are in place that mandate or incentivize the use of more energy-efficient motors. For example, the European Union's Eco-design Directive has set minimum efficiency standards for electric motors sold within the EU, which are becoming increasingly stringent. Similar regulations exist in other parts of the world, such as the US Energy Policy Act (EPAct) and China's Minimum Energy Performance Standards (MEPS).\u003c\/p\u003e\n\n\u003cp\u003eExpansion of Warehouses in the APAC Region\u003c\/p\u003e\n\n\u003cp\u003eRecently, warehousing and logistics facilities have been increasing due to a boost in e-commerce platforms. The warehousing sector has been strong for a few years in many countries of the APAC region. Several organizations are growing through omnichannel distribution networks and increasing their workforce to retain productivity. The requirement for warehouses is increasing rapidly due to the rise in demand for online delivery of goods. Demand for one-day delivery led to significant demand for warehouses, contributing to the industrial motors market. Increasing warehouses are expected to generate demand for industrial motors in the market. Warehousing and logistics facilities are transforming into modern warehouses. They are implementing automation \u0026amp; IoT solutions for accuracy, reducing error, saving time, and enhancing productivity. Thus, the demand for industrial motors will likely be generated from countries or regions with large warehousing facilities.\u003c\/p\u003e\n\n\u003cp\u003eINDUSTRY RESTRAINTS\u003c\/p\u003e\n\n\u003cp\u003eSupply Shortage of Electric Steel\u003c\/p\u003e\n\n\u003cp\u003eIndustrial and commercial motors suppliers are dealing with a serious issue, i.e., lack of electric steel. In the past, suppliers like Nidec Corporation, Siemens, ABB, and others haven’t had much trouble acquiring supplies of essential raw materials needed to make their motors. Numerous supply disruptions have undoubtedly occurred throughout the industry's history, but relatively few have become long-term issues. The industrial motors market heavily relies on electric steel, which is used to manufacture the cores of the electric motors that power a wide range of industrial equipment, from manufacturing machinery to HVAC systems. However, there has been a recent supply shortage of electric steel, which has led to difficulties in meeting the demand for electric motors and has hampered the growth of the industrial motors market.\u003c\/p\u003e\n\n\u003cp\u003eSEGMENTATION INSIGHTS\u003c\/p\u003e\n\n\u003cp\u003eINSIGHTS BY PRODUCT\u003c\/p\u003e\n\n\u003cp\u003eThe industrial motors market includes two major types of motors – AC and DC motors. These motors are categorized into different types and used in various applications. The AC motor market is expected to grow at a CAGR of over 6% during the forecast period. There is a need to improve the efficiency and precision of motors to reduce the environmental impact. With the increased use of elevators, conveyors, compellers, and other industrial machinery, the adoption of IE4 and higher-efficiency motors is expected to flourish in the market.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by ProductAC MotorDC MotorINSIGHTS BY POWER OUTPUT\u003c\/p\u003e\n\n\u003cp\u003eThe global industrial motors market by power output segments as IHP and FHP. IHP dominated the market share in revenue as they are commonly used in heavy-duty applications requiring higher power output, such as large-scale manufacturing, mining, oil and gas, and heavy machinery. These industries often require motors with greater horsepower to drive heavy loads and operate machinery efficiently. As a result, demand for IHP motors is generally higher in these sectors, contributing to their dominance. The end-users of FHP motors include food \u0026amp; beverage, electrical, and mechanical machinery components such as power drills and routers, among others.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by Power OutputIHPFHPINSIGHTS BY VOLTAGE\u003c\/p\u003e\n\n\u003cp\u003eThe industrial motors market comprises various voltage brackets, including low, medium, and high-voltage. The low voltage motor market is governed by energy efficiency legislation in each of four types – IE1, IE2, IE3, and IE4 and accounts for the highest share in the market. The regional efficiency transition regulations in countries will require buyers of low voltage motors to purchase higher efficiency low voltage motors, which are more expensive. This dramatically affects revenue growth but not necessarily unit growth. During the forecast period, medium and high voltage are expected to thrive due to advantages such as suitability for advanced machines and long life.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by VoltageLow VoltageMedium VoltageHigh VoltageINSIGHTS BY LOW VOLTAGE AC MOTOR BY EFFICIENCY\u003c\/p\u003e\n\n\u003cp\u003eKey factors driving the growth of the energy-efficient motor industry are energy savings and resulting costs over conventional motors, growing funding from policymakers worldwide for energy-efficient motors, increasing need to reduce the greenhouse effect, and implementing energy-efficient motors in the manufacturing sector. However, the high cost of premium performance (IE4) motors is the key limiting factor for developing the industrial motors market.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by EfficiencyIE1IE2IE3IE4INSIGHTS BY SALES CHANNEL\u003c\/p\u003e\n\n\u003cp\u003eThe global industrial motors market by sales channel is categorized as direct and indirect. Direct sales channels allow the consumer to buy goods directly. Many customers prefer to buy directly from vendors to reduce the extra cost incurred via third parties in the sales channel, such as dealers or distributors. Strategic partnerships are expected to reduce operational costs in the market. In the industrial motors market, there are three scenarios in the direct sales channel – direct to OEM, direct to end-user, and direct to system integrator. Direct-to-OEM sales channel held the largest segmental share in 2022. The indirect sales channel involves a third-party purchase through a distributor or dealer.\u003c\/p\u003e \n\n\u003cp\u003eSegmentation by Sales ChannelDirect to OEMDirect to End-userDistributor to End-userDistributor to OEMDirect to System IntegratorDistributor to System IntegratorINSIGHTS BY END-USER\u003c\/p\u003e\n\n\u003cp\u003eThe HVAC end-user segment will hold the largest global industrial motors market share in 2022. The HVAC industry consists of motors used in heavy-duty applications such as ventilators, fans, exhaust fans, unit heaters, air conditioning units, smoke ventilation fans, and other applications. VFD (variable frequency drives) has increased in the HVAC industry, driving the demand for high-efficiency motors. The demand for industrial motors is anticipated to grow due to increased industrial production and replacing old motors with new energy-efficient motors.\u003c\/p\u003e \n\n\u003cp\u003eSegmentation by End-UserHVACF\u0026amp;BPower GenerationWarehousingMiningPaper \u0026amp; PaperboardAutomotiveOil \u0026amp; GasPackagingMetal ProcessingElevators and EscalatorsPharmaceuticalMachine ToolsChemicalOthersGEOGRAPHICAL ANALYSIS\u003c\/p\u003e\n\n\u003cp\u003eAPAC accounted for the highest share of the global industrial motors market, accounting for over 33% in 2022, mostly due to the presence of leading manufacturing countries, such as China and Japan, and rapidly boosting industrialization in India. APAC was led by China, Japan, India, and South Korea, the significant industrial motors markets. Urbanization and industrialization in emerging countries like India are raising the demand for vehicles, thereby boosting the demand for industrial motors from the automotive industry.\u003c\/p\u003e\n\n\u003cp\u003eSegmentation by GeographyAPACChinaJapanIndiaSouth KoreaAustraliaIndonesiaMalaysiaEuropeGermanyItalyFranceSpainThe UKPolandNetherlandsNorth AmericaThe U.S.CanadaLatin AmericaBrazilMexicoChileArgentinaMiddle East \u0026amp; AfricaSaudi ArabiaTurkeyUAESouth AfricaEgyptCOMPETITIVE LANDSCAPE\u003c\/p\u003e\n\n\u003cp\u003eThere is currently an intensification of the competitive scenario in the global industrial motors market. Vendors are likely to be adversely affected by the rapidly evolving technological climate, as the characteristics of this sector are continuous developments and improvements according to schemes and government policies. The rivalry between vendors for market share is severe. The entrance into the industry of large motor firms presents a big challenge to domestic sellers. The present scenario pushes suppliers to adjust and refine their specific value propositions to maintain a strong industry presence.\u003c\/p\u003e \n\n\u003cp\u003eKey Company ProfilesABBAllied MotionAmetekCG Power and Industrial SolutionsDanfossJohnson Electric GroupNIDEC CORPORATIONRegal RexnordSiemensWEGOther Prominent VendorsAddison ElectricARC SystemsBonfiglioliBrook CromptonDana Brevini Power TransmissionEatonElectroCraftFuji ElectricGeneral ElectricGroschoppHankscraft OEM DivisionMaxonMoogMitsubishi Electric CorporationParker Hannifin CorporationRockwell AutomationSEW-EURODRIVESumitomo Heavy IndustriesTECO-WestinghouseToshiba International CorporationKEY QUESTIONS ANSWERED:\u003c\/p\u003e\n\n\u003cp\u003e1. How big is the industrial motors market?\u003c\/p\u003e\n\n\u003cp\u003e2. What is the growth rate of the global industrial motors market?\u003c\/p\u003e\n\n\u003cp\u003e3. What are the growing trends in the industrial motors market?\u003c\/p\u003e\n\n\u003cp\u003e4. Which region holds the most significant global industrial motors market share?\u003c\/p\u003e\n\n\u003cp\u003e5. Who are the key players in the global industrial motors market?\u003c\/p\u003e","brand":"Heavy Industry","offers":[{"title":"September, 2023 \/ 469 Pages \/ MCW16223168","offer_id":47637894103346,"sku":null,"price":6600.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/industrial-motors-market-global-outlook-forecast-2023-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}