The global industrial motors market exhibited a valuation of US$ 653.0 million in the year 2022, setting the stage for a gradual yet steady expansion in the coming decade. Projections for the period spanning 2022 to 2032 suggest a compound annual growth rate (CAGR) of 3.5%, which is expected to propel the market's worth to a notable US$ 917.3 million by the year 2032.

Industrial motors represent a vital component in various industries, serving as electrically powered devices that transform electrical energy into mechanical energy. Predominantly, these motors draw their operational power from sources of alternating current (AC), which are commonly found in generators and power grids. Nevertheless, it's worth noting that some industrial motors are intentionally engineered to be compatible with direct current (DC), offering versatility in their applications.

The steady growth of the industrial motors market reflects their indispensable role in powering numerous industrial processes and machinery across the globe. As industries continue to evolve and modernize, the demand for efficient and adaptable industrial motors remains a driving force, contributing to the projected expansion of this market in the years to come.

Stay Informed: Discover the Impact of Rising Investments in Industrial Motors – Request Our Sample Report. https://www.futuremarketinsights.com/reports/sample/rep-gb-5117

Companies are forming strategic alliances to expand their reach into emerging and untapped markets. In the coming years, Future Market Insights (FMI) expects the United States, India, and China to emerge as the most dominant markets for industrial motors.

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.

Get More Valuable Insights

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.

Buy Now to Discover Vital Trends, Drivers, and Challenges in this Industry. https://www.futuremarketinsights.com/checkout/5117

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