Industry Overview of Industrial Motors Market

An industrial motor is a mechanical device that converts electrical energy into mechanical energy. It is robustly built and designed to withstand harsh industrial environments. It has a longer shelf life and contributes to higher productivity due to its reliability and ability to support a range of industrial processes. It is used in the manufacturing industry for powering machinery that assist in cutting, shaping, and assembling products. It also finds applications in industries like mining, agriculture, and transportation for powering different equipment, such as conveyor belts and agricultural machinery.

How Big Is The Industrial Motors Market?

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.

What Are The Growth Prospects And Trends In The Industrial Motors Industry?

Rapid urbanization and the expansion of several industries represent one of the key factors catalyzing the demand for efficient and durable industrial motors. The advent of automation and Industry 4.0 trends are also accelerating the need for advanced and energy-efficient motors capable of integrating with modern manufacturing technologies. Apart from this, governing bodies of various countries are implementing stringent energy consumption regulations to replace conventional motors with energy-efficient variants, which is favoring the market growth. Additionally, the increasing adoption of electric vehicles equipped with industrial motors is positively influencing the market. Furthermore, the integration of the Internet of Things (IoT) in motor management for predictive maintenance and the rise of smart factories are propelling market growth.

What Is Included In Market Segmentation?

The report has segmented the market into the following categories:

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

Who Are The Key Players Operating In The Industry?

The report covers the major market players including: 

• 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.