May 23, 2019 by Steve Blade
According to the report compiled by Fact.MR, the industrial motor market is expected to witness sluggish growth. The market is estimated to increase to 3.4% CAGR during the forecast period 2017-2026. By the end of 2026, the global industrial motor market is estimated to reach US$ 14,959.1 million revenue. Converting electrical energy into mechanical energy, industrial motor is used in manufacturing units. Improving standards in design and efficiency are driving manufacturers to develop and design new industrial motor that can reduce energy consumption and offer efficiency. Following are the insights on how the global industrial motor market will perform during the forecast period.
With the energy cost galloping solidly, industry is focused on cost-effective and energy efficient industrial motor. As such, manufacturers are concentrating on developing industrial motor with a novel design to make it easy to use across industries. Manufacturers have built an uncanny knack for offering a myriad of utilities on the go. Accordingly, smart sensors have grown in popularity in the wake of propelling the lifespan and lessening the downtime.
The rising electricity cost in pumps and fans sector has led to adoption of industrial motor in the sector. The accuracy with which a motor requires to be controlled hinges upon the system requirements. The accuracy requirements are high in applications such as industrial robotics or in bottling. For instance, a welding robot is known to operate with high precision and high speed. Similarly, manufacturers are eying to control the motors in a bottling factory accurately which will facilitate the stoppage of bottles at the right position for capping, filing and labeling. In order to monitor this, the use of analog sensors such as synchros, resolvers, RVDTS or rotary potentiometers.
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According to the study, pumps and fans are anticipated to be the largest application in the industrial motors market, with an absolute dollar opportunity of over USD 2,300 million between 2017 and 2026. Given motors have significant impact in the pumps and fans with the amount of mechanical power needed by entire system and overall energy consumption, its use in the pumps and fans has surged.
Industrial Motor Market: Overview
The report provides a robust analysis on the industrial motor market for the assessment period 2017-2026. The report sheds light on the segregation of the market to provide an in-depth view of the market. Further, the report delineates the dynamics of the market which have significant impact on the development of the lithography market: drivers, restraints, trends and opportunities.
Industrial Motors to Find Largest Application in Pumps and Fans
Industrial motors are likely to find the largest application in pumps and fans. Towards 2026 end, pumps and fans are projected to create an absolute dollar opportunity of over US$ 2,300 million between 2017 and 2026. 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.
DC Brushless Motor to be the Highly Preferred Motor Type
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 US$ 6,900 million revenue by 2026 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.
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The report includes preface and executive summary to offer an actionable insights on the industrial motor market. Furthermore, the report in the market overview section elucidates market indicators, key players. The overview section subsequently delineates Porters’ Five Force analysis that succors in showcasing the competitive landscape with respect to industrial motor market. The report also shed light on the market outlook section which elucidates reimbursement scenario with respect to region and peruses on technological development.
Primary research and secondary research offer a deep dive analysis on industrial motor market. Primary research focuses on veracious review from experts, telephonic interview, unbiased and honest views from surveys and seasoned analyst. On the other hand, the secondary research sheds light on Factiva, trade journals, EC filing, and resourceful database. The report also features absolute dollar opportunity analysis and Y-o-Y projections.
Industrial Motor Market: Competitive Landscape
The report focuses on the coherent assessment of competitive landscape of the industrial motor market propelled by the inclusion of Porters’ Five Force Analysis. As such, the Porters’ Five Force Analysis focuses on strategies deployed by pertinent companies in the industrial motor market. Additionally, the report is underpinned by the incorporation of company profile, recent development, SWOT analysis, company profile, annual revenue, key differentiation and strategic overview.
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