The global industrial motor market is predicted to grow slowly, according to a report published by Fact. MR. During the projected period of 2017-2026, the market is expected to grow at a CAGR of 3.4 percent. The global industrial motor market is expected to generate US$ 14,959.1 million in sales by 2026. Industrial motors are utilized in production units to convert electrical energy into mechanical energy.
Manufacturers are developing and designing new industrial motors that can cut energy consumption and offer efficiency as design and efficiency standards improve. The following are forecasts for how the worldwide industrial motor market will fare over the next several years.
Global Industrial Motor Market: 6 Forecast Highlights
- During the forecast period 2017-2026, Asia Pacific Excluding Japan (APEJ) is predicted to be the largest region in the worldwide industrial motor market.
- The worldwide industrial motor market is predicted to develop in North America and Europe as well.
- In the worldwide industrial motor market, the IE2 industrial motor is predicted to develop at the fastest rate.
- By the end of 2017, Pumps and Fans are predicted to account for over half of the revenue share.
- DC Brushless motors are predicted to be the most common form of industrial motor.
- In the worldwide industrial motor market, commercial HVAC is predicted to be the largest end-user.
The study also includes a detailed analysis of the top market players in the global industrial motor market. These companies are predicted to be operational until 2026. ABB Limited, Siemens Aktiengesellschaft, WEG SA, TECO Electric & Machinery Co., Ltd., Toshiba Corporation, Hyosung Corporation, Nidec Corporation, Regal Beloit Corporation, CG Power and Industrial Solutions Limited, and Shandong Huali Electric Motor Group Co., Ltd. are among the firms involved.
Why DC Brushless Motor be the Highly Preferred Motor Type?
According to the analysis, sales of DC brushless motors would grow the most during the projection period.
When compared to other types of industrial motors, DC brushless motors are likely to be the most popular. By the end of 2032, sales from DC brushless are expected to exceed USD 10.1 billion.
Brushless motors help to solve several problems that are common with brushed motors. Furthermore, the design of these motors is quite straightforward. Brushless motors also have several benefits, including great efficiency, little maintenance, and long life. These motors are widely used in compressors, pumps, and fans, where durability and reliability are essential.
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