Feb 8, 2021   SOURCE: BusinessWire

Worldwide Industrial Motors Industry to 2026 - Prominent Vendors Include ABB, Allied Motion Technologies and Eaton Among Others - ResearchAndMarkets.com

The "Industrial Motors Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Industrial Motors Market Report

The industrial motors market by revenue is expected to grow at a CAGR of over 8% during the period 2021-2026.

The global industrial motors industry is expected to grow with the growth in industrial production, enhancement in technological advancement, increase in urbanization, and expansion of manufacturing industries. The industrial motor sales in the APAC region are anticipated to experience steady growth, and key drivers include an increase in infrastructure expenditure and a focus on industrial production growth. Several APAC countries, including China and India, are expected to observe remarkable gains in the industrial motors market with key infrastructure expansions in the industrial sector and building services during the forecast period.

The following factors are likely to contribute to the growth of the industrial motors market during the forecast period:

  • Increase in Infrastructure Development Projects in the Middle East
  • Demand for IE4 Efficiency, Low-voltage Motors
  • Growth in Usage of VFD in IE2/IE3 AC LV Motors

The study considers the present scenario of the industrial motors market and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

INSIGHTS BY GEOGRAPHY

Pegged as a manufacturing and industrial hub of the world, the APAC industrial motors market is expected to reach over $29 billion by 2026. The demand for industrial motors in the region can be attributed to rapidly increasing urbanization and industrialization. The presence of several developed countries, which are witnessing high demand for industrial motors in several end-user applications, is expected to drive the growth of the region during the forecast period. Being a global manufacturing center, with access to low labor cost, highly skilled workers, an abundance of raw materials, China accounts for the highest share in the industrial motors market in the region as well as across the globe. However, with the outbreak of the COVID-19 pandemic and the increasing trade concerns with the US, the manufacturing industry in China is currently going through a decline for a short-term period.

Geography

  • North America
  • US
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • APAC
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Latin America
  • Mexico
  • Brazil
  • Chile
  • Argentina
  • Middle East & Africa
  • Saudi Arabia
  • Turkey
  • Rest of Middle East & Africa

INSIGHTS BY VENDORS

The competitive scenario in the global industrial motors market is currently intensifying. The entry of large motor companies in the market poses a significant threat to domestic vendors. Large companies such as ABB, Siemens, Eaton, Johnson Electric, and Mitsubishi are set to explore the market worldwide. All these companies have a global presence in three major geographical regions - North America, APAC, and Europe. However, there are local vendors providing products with similar specifications at low prices. This has intensified price wars among the key players.

Prominent Vendors

  • ABB
  • Allied Motion Technologies
  • CG Power and Industrial Solutions
  • Eaton
  • Johnson Electric
  • Nidec
  • Regal Beloit Corporation
  • Siemens
  • WEG

Other Prominent Vendors

  • ARC Systems
  • Ametek
  • Bonfiglioli
  • Brook Crompton
  • Dana Brevini Power Transmission
  • Fuji Electric
  • Maxon
  • Rockwell Automation
  • Sew- Eurodrive
  • TECO-Westinghouse

KEY QUESTIONS ANSWERED

1. What is the value of the global industrial motors market during 2021-2026?

2. What are the key growth strategies of industrial motors market players?

3. What is the growth of Europe's industrial motors market, and which countries are likely to emerge as major revenue contributors?

4. Which government regulations are likely to challenge the growth of key regional markets?

5. Which region could observe the maturity in demand in near future?

6. What opportunities the market offer for new players?

For more information about this report visit https://www.researchandmarkets.com/r/b6inm3