Industrial Electric Motors Market is expected to grow at a CAGR of 4.28% By 2029

Written by Lisa Tate  »  Updated on: April 02nd, 2024

Industrial Electric Motors Market is expected to grow at a CAGR of 4.28% By 2029

 According to TechSci Research report, “Global Industrial Electric Motors Market – By Region, Competition, Forecast and Opportunities, 2019-2029”, the Global Industrial Electric Motors Market is expected to register robust growth during the forecast period. Increasing awareness of energy efficiency and environmental sustainability has led to a growing demand for high-efficiency electric motors. Businesses and industries seek to reduce energy consumption and operating costs by adopting energy-efficient motors.

With a growing focus on energy efficiency and environmental sustainability, there is a substantial opportunity for high-efficiency electric motors. These motors help businesses reduce energy consumption and operating costs, aligning with global efforts to reduce carbon emissions. Manufacturers that offer energy-efficient Industrial Electric Motors can capitalize on this trend.

Browse over XX market data Figures spread through 86 Pages and an in-depth TOC on the "Global Industrial Electric Motors Market."

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The Industrial Electric Motors Market exhibits a comprehensive segmentation structure, encompassing various parameters to cater to the diverse requirements of industries worldwide. Segmented by Motor Type into AC Motors and DC Motors, this market provides solutions tailored to different applications and operational needs. Moreover, the segmentation based on Output Power distinguishes between Integral Horsepower and Fractional Horsepower motors, catering to varying power requirements across industries.

Additionally, Voltage Rating segmentation categorizes motors into Low Voltage (Up to 690V), Medium Voltage (691V - 3300V), and High Voltage (Above 3300V), reflecting the diverse voltage needs in industrial operations. End-Use Industry segmentation further delineates the market based on sectors such as Manufacturing, Oil and Gas, Mining, Chemicals, Automotive, and Others, capturing the specific demands and applications within each industry vertical. Geographically, the market is divided into regions to account for regional variations in demand and preferences. Dominant segments often include AC Motors due to their widespread adoption across industries, particularly in manufacturing and automotive sectors, where they serve as the primary propulsion source for machinery and equipment.

Additionally, the Manufacturing industry emerges as a dominant end-use segment, fueled by continuous industrial expansion and automation initiatives worldwide. However, the fastest-growing segments are often observed in emerging industries such as renewable energy and electric vehicles, which drive demand for high-efficiency motors with specific voltage and power requirements. Overall, the Industrial Electric Motors Market presents a robust segmentation framework, with dominant segments driven by widespread adoption in key industries, while the fastest-growing segments are propelled by emerging trends and technological advancements.

Key market players in the Global Industrial Electric Motors Market are:-

ABB Sakti Industries

Siemens

WEG Industries

Teco Electric & Machinery

TMEIC Industrial Systems Indonesia

Menara Sinar Agung

Dynatech International

Lautan Luas Tbk

Bhumi Raya Electric

Surya Timur Sakti Jaya

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“Industrial Electric Motors Market shows positive growth in the forecast period. The increasing emphasis on energy efficiency and sustainability across industries. Industrial electric motors are integral components of various applications, and the demand for energy-efficient motors is expected to surge as companies strive to reduce operating costs and comply with stringent environmental regulations.

Additionally, advancements in motor design and technology, such as the development of high-efficiency motors and the integration of smart features for remote monitoring and control, are anticipated to bolster market growth.

Furthermore, the expansion of key end-use industries such as manufacturing, automotive, and energy is projected to drive the demand for industrial electric motors globally. Moreover, the rising adoption of automation and robotics in industrial processes necessitates reliable and high-performance motors, further contributing to market growth. Additionally, increasing investments in infrastructure development, particularly in emerging economies, are expected to create lucrative opportunities for market players.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Industrial Electric Motors Market Segmented By Motor Type (AC Motor and DC Motor), By Output Power (Integral Horsepower and Fractional Horsepower), By Voltage Rating (Low Voltage (Up to 690V), Medium Voltage (691V - 3300V) and High Voltage (Above 3300V)), By End-Use Industry (Manufacturing, Oil and Gas, Mining, Chemicals, Automotive, Others), By Region, Competition 2019-2029,” has evaluated the future growth potential of Global Industrial Electric Motors Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Industrial Electric Motors Market.

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Lisa Tate
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