The report on Industrial Motor Market highlights:
Assessment of the market
COVID Impact Analysis
Value Chain Analysis
Historic Data, Estimates and Forecast
Porter’s Five Forces Analysis
Global and Regional Dynamics
Increasing Demand for Energy Efficient Electric Motors is Driving the Industrial Motor Market
Industrial Motors are generally used in manufacturing machines and industrial assemblies. Increasing prices of electricity and raw materials have generated a demand for energy-efficient motors. Rising industrial sector and increase in manufacturing processes had generated a demand for highly efficient motors. Motors generally are of various types such as AC, DC and Servo Motors. AC and DC motors are commonly used in major industries due to its requirement for high torque and power.
High focus on safety and low maintenance is expected from key manufacturing players. Companies are investing huge funds in R&D of Motor engineering just to reduce energy cost and provide high efficiency. Due to this factor there is high demand for electric motors which indirectly is helping the industrial motor market to grow.
Increasing Industrial Automation (Industry 4.0) & Technology Advancements is Fuelling the Growth of Market
As industry automation has gained huge importance in coming years, in countries such as the U.S, Canada, and Germany automation has a huge positive impact on the manufacturing process. Industrial automation requires special programmable servo motors. The demand for these motors has gained huge importance in the coming years due to their requirement in the automation sector. Medium-scale industries are investing huge funds in developing automation in their factories which is generating huge demand for the industrial motor market.
Edited by Lisa
Add: Longhua Area,Shenzhen City,China