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PUBLISHER: IMARC | PRODUCT CODE: 1370437
PUBLISHER: IMARC | PRODUCT CODE: 1370437
Industrial Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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Abstract
Market Overview:
The global industrial motors market size reached US$ 22.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.52% during 2023-2028.
An industrial motor relies on alternating current (AC) resources, such as power grids or generators, to work efficiently and transform electrical energy into mechanical energy. It is highly efficient as it does not use fuel and requires engine-oil maintenance compared to other electrical devices. In addition, it is highly durable with a long lifespan as an industrial motor contains few moving parts that operate smoothly. As a result, it is used in blowers, industrial fans, machine tools, pumps, power tools, compressors, turbines, rolling mills, alternators, ships, movers, and paper mills.
Industrial Motors Market Trends:
The growing utilization of electric motors in industrial processes and auxiliary systems, such as compressed air generation, ventilation, and water pumping, represents one of the key factors driving the market. Moreover, there is a rise in the demand for alternating current (AC) motors as they are more reliable with low maintenance costs. This, along with the increasing utilization of AC motors in pumps, water heaters, ovens, and off-road motorized and garden equipment, is propelling the growth of the market. In addition, key market players are extensively investing in research and development (R&D) activities to introduce electric motors with a high power-to-weight ratio for reducing energy consumption and resolving portability issues. This, coupled with the growing number of smart manufacturing pilot projects by governments of several countries, is catalyzing the demand for industrial motors. Besides this, the escalating demand for industrial motors that can save energy and reduce operational costs in organizations is contributing to the growth of the market. Furthermore, the rising need for water recycling due to the depletion of water resources across the globe is expected to bolster the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial motors market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type of motor, voltage and end user.
Breakup by Type of Motor:
Alternating Current (AC) Motor
Direct Current (DC) Motor
Others
Breakup by Voltage:
Low Voltage
Medium Voltage
High Voltage
Breakup by End User:
Oil and Gas
Power Generation
Mining and Metals
Water and Wastewater Management
Chemicals and Petrochemicals
Discrete Manufacturing
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Brook Crompton, Hitachi Ltd., Johnson Electric Holdings Limited, Menzel Elektromotoren GmbH, Nidec Corporation, Regal Rexnord Corporation, Rockwell Automation Inc., Siemens AG and Toshiba Corporation.
Key Questions Answered in This Report
- 1. How big is the global industrial motors market?
- 2. What is the expected growth rate of the global industrial motors market during 2023-2028?
- 3. What are the key factors driving the global industrial motors market?
- 4. What has been the impact of COVID-19 on the global industrial motors market?
- 5. What is the breakup of the global industrial motors market based on the type of motor?
- 6. What is the breakup of the global industrial motors market based on the voltage?
- 7. What is the breakup of the global industrial motors market based on end user?
- 8. What are the key regions in the global industrial motors market?
- 9. Who are the key players/companies in the global industrial motors market?
Product Code: SR112023A5850
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Industrial Motors Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type of Motor
- 6.1 Alternating Current (AC) Motor
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Direct Current (DC) Motor
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Others
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Voltage
- 7.1 Low Voltage
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Medium Voltage
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 High Voltage
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by End User
- 8.1 Oil and Gas
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Power Generation
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Mining and Metals
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Water and Wastewater Management
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Chemicals and Petrochemicals
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Discrete Manufacturing
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Others
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 ABB Ltd.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Brook Crompton
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Hitachi Ltd.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Johnson Electric Holdings Limited
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Menzel Elektromotoren GmbH
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Nidec Corporation
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Regal Rexnord Corporation
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.8 Rockwell Automation Inc.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Siemens AG
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Toshiba Corporation
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.1 ABB Ltd.
Product Code: SR112023A5850
List of Figures
- Figure 1: Global: Industrial Motors Market: Major Drivers and Challenges
- Figure 2: Global: Industrial Motors Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Industrial Motors Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Industrial Motors Market: Breakup by Type of Motor (in %), 2022
- Figure 5: Global: Industrial Motors Market: Breakup by Voltage (in %), 2022
- Figure 6: Global: Industrial Motors Market: Breakup by End User (in %), 2022
- Figure 7: Global: Industrial Motors Market: Breakup by Region (in %), 2022
- Figure 8: Global: Industrial Motors (Alternating Current (AC) Motor) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Industrial Motors (Alternating Current (AC) Motor) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Industrial Motors (Direct Current (DC) Motor) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Industrial Motors (Direct Current (DC) Motor) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Industrial Motors (Other Type of Motors) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Industrial Motors (Other Type of Motors) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Industrial Motors (Low Voltage) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Industrial Motors (Low Voltage) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Industrial Motors (Medium Voltage) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Industrial Motors (Medium Voltage) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Industrial Motors (High Voltage) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Industrial Motors (High Voltage) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Industrial Motors (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Industrial Motors (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Industrial Motors (Power Generation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Industrial Motors (Power Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Industrial Motors (Mining and Metals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Industrial Motors (Mining and Metals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Industrial Motors (Water and Wastewater Management) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Industrial Motors (Water and Wastewater Management) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Industrial Motors (Chemicals and Petrochemicals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Industrial Motors (Chemicals and Petrochemicals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Industrial Motors (Discrete Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Industrial Motors (Discrete Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: Industrial Motors (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: Industrial Motors (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: North America: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: North America: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: United States: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: United States: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Canada: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Canada: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Asia-Pacific: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Asia-Pacific: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: China: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: China: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Japan: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Japan: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: India: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: India: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: South Korea: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: South Korea: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Australia: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Australia: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Indonesia: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Indonesia: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Others: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Others: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Europe: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Europe: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Germany: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Germany: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: France: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: France: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: United Kingdom: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: United Kingdom: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Italy: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Italy: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Spain: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Spain: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Russia: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Russia: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Latin America: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Latin America: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Brazil: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Brazil: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Mexico: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Mexico: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Others: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Others: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Middle East and Africa: Industrial Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 81: Middle East and Africa: Industrial Motors Market: Breakup by Country (in %), 2022
- Figure 82: Middle East and Africa: Industrial Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 83: Global: Industrial Motors Industry: SWOT Analysis
- Figure 84: Global: Industrial Motors Industry: Value Chain Analysis
- Figure 85: Global: Industrial Motors Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Industrial Motors Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Industrial Motors Market Forecast: Breakup by Type of Motor (in Million US$), 2023-2028
- Table 3: Global: Industrial Motors Market Forecast: Breakup by Voltage (in Million US$), 2023-2028
- Table 4: Global: Industrial Motors Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 5: Global: Industrial Motors Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Industrial Motors Market: Competitive Structure
- Table 7: Global: Industrial Motors Market: Key Players
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