At 7.6% CAGR, Global Industrial (AC/DC) Motor Market to Surpass US$ 2,893 Million

The report on Industrial Motor Market highlights:

• Assessment of the market

• Premium Insights

• Competitive Landscape

• COVID Impact Analysis

• Value Chain Analysis

• Historic Data, Estimates and Forecast

• Company Profiles

• Porter’s Five Forces Analysis

• SWOT Analysis

• Global and Regional Dynamics

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Market Overview:

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