The global industrial motors market is driven by sustained growth and a steadfast Compound Annual Growth Rate (CAGR) of 3.5%. With an initial valuation of US$ 653.0 million in 2022, the market sets ambitious targets, aiming to reach a notable overall value of US$ 917.3 million by 2032.

This journey towards sustained growth is characterized by a harmonious blend of innovation, sustainability, and an unwavering commitment to enhancing operational efficiency. As industrial processes and machinery continue to evolve on a global scale, the resilience and persistence of the industrial motors market underscore its indispensable role in powering diverse industrial applications.

With a focus on innovation and efficiency, the industrial motors market is primed to navigate the complexities of the industrial landscape, driving forward with purpose towards its envisioned valuation by 2032.

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Key Takeaways from Market Study:

By product type, AC motors are projected to hold a market share of 71% in 2032.
By end use, the energy segment is anticipated to boost the demand for industrial motors globally, and demand from it is expected to grow at 4.1% from 2022 to 2032.
By power output, the 15 to 20 MW segment is expected to accelerate and create incremental opportunity of US$ 70.5 million between 2022 and 2032.
By 2032, Europe is expected to have the largest share of the global market, accounting for around 28.7%.
“The market for industrial motors is predicted to expand rapidly due to increasing demand for innovative and energy-efficient products across industries. Rising automation and digitalization in a variety of end-use sectors are driving demand. Industry participants are investing in strategic alliances, expansions, and cost-effective solutions to obtain a competitive advantage.” Says an FMI analyst.

Who is Winning?

Among the industry’s key players are ABB Group, Siemens AG, Hyundai Electric Co. Ltd., Toshiba Corporation, Nidec Corporation, Hitachi, Ltd., WEG S.A., General Electric Co., Bonfiglioli Riduttori S.p.A., Hyosung Corporation, Menzel Elektromotoren GmbH, Kirloskar Electric Company Ltd., and Regal Beloit Corporation.

Globally, the key market players are focused on developing and extending production technologies and expansion capacities to meet the industry demands.

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Future Market Insights, in its new offering, provides an unbiased analysis of the global industrial motors market, presenting historical demand data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.

About Future Market Insights – Industrial Automation

The industrial automation division of Future Market Insights offers a novel approach and innovative perspective in analysing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, grow and identify new revenue prospects.

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Global Industrial Motors Market by Category:

By Power Output:

1 to 5 MW
5 to 10 MW
10 to 15 MW
15 to 20 MW
20 to 25 MW
By Product Type:

AC Motors
Induction Motor
Synchronous Motor
DC Motors
Brushed DC
Brushless DC
By End Use:

Oil & Gas
Energy
Mining
Cement
Metal and Steel
Pulp and Paper
Chemical
Water and Wastewater
Marine
By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East and Africa
Read More: https://www.futuremarketinsights.com/reports/industrial-motors-market