June 19, 2019 by Steve Blade
As per the new study by Fact.MR, the global market for industrial motor is likely to experience slow growth during 2017-2026. By 2026 end, the global market for industrial motor is projected to bring in US$ 14,959.1 million revenue. Stringent regulations on energy conservation and rising prices of electricity are driving the demand for energy-efficient industrial motor. However, the high cost of industrial motor as compared to the conventional motor, and high cost of installation are some of the factors hampering the global market for industrial motor.
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.
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Table of Content
1. Global Economic Outlook
2. Global Industrial Motor Market - Executive Summary
3. Global Industrial Motor Market Overview
To be Continue.....
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.
Commercial HVAC to Emerge as the Largest User of Industrial Motor
Commercial HVAC is likely to emerge as the biggest user of the industrial motor. Commercial HVAC is projected to create an incremental opportunity exceeding US$ 1,000 million between 2017 and 2026. 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.
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Industrial Motor Market: Competitive Landscape
The report also offers detailed analysis of the leading market players in the global market for industrial motor. These players are expected to remain active through 2026. These include companies such as 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, and Shandong Huali Electric Motor Group Co. Ltd.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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