IMARC Group, a leading market research company, has recently releases report titled “Industrial Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global industrial motors market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is Industrial Motors?

The Industrial Motors Market refers to the global industry dedicated to the production, distribution, and sales of motors used in various industrial applications. These motors are essential components in a wide range of industrial equipment and machinery, playing a crucial role in powering different processes and operations. Industrial motors are designed to convert electrical energy into mechanical energy, enabling the efficient movement and operation of equipment in industries such as manufacturing, automotive, mining, construction, oil and gas, and more. The market for industrial motors is driven by several factors, including the continuous growth of industrialization and automation across various sectors. As industries seek to enhance their production capacity and efficiency, there is a rising demand for more advanced and energy-efficient motor solutions. Additionally, the increasing focus on environmental sustainability and energy conservation has led to the adoption of high-efficiency industrial motors, which not only reduce energy consumption but also contribute to cost savings and reduced carbon emissions.

How Big Is the Industrial Motors Market?

The global industrial motors market size reached US$ 22.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.52% during 2023-2028.

What Are the Growth Prospects and Trends in The Industrial Motors Market?

The Industrial Motors Market is experiencing significant trends and growth driven by various factors. One of the key trends in the market is the increasing adoption of smart and energy-efficient motors. Industries are increasingly looking for motor solutions that not only offer higher performance and reliability but also contribute to energy conservation and cost savings. As a result, manufacturers are investing in the development of smart motors integrated with advanced technologies like IoT, allowing for remote monitoring and predictive maintenance, which enhances overall operational efficiency. Another trend driving the industrial motors market is the growing demand for electric and hybrid vehicles. The automotive industry’s shift towards electric mobility has led to an increased need for electric motors for vehicle propulsion and various components. Moreover, the rising focus on sustainable transportation and strict emissions regulations have further fueled the demand for efficient and eco-friendly motor solutions. Furthermore, the industrial motors market is witnessing growth due to the expansion of various industrial sectors. With the growth of manufacturing, construction, and infrastructure industries across the globe, there is a higher demand for industrial motors to power machinery and equipment. Additionally, the increasing adoption of automation and robotics in industries is boosting the demand for motors used in automated processes.

What Is Included in Market Segmentation?

The report has segmented the market into the following categories:

Breakup by Type of Motor:

• Alternating Current (AC) Motor
• Direct Current (DC) Motor
• Others

Breakup by Voltage:

• Low Voltage
• Medium Voltage
• High Voltage

Breakup by End User:

• Oil and Gas
• Power Generation
• Mining and Metals
• Water and Wastewater Management
• Chemicals and Petrochemicals
• Discrete Manufacturing
• Others

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Who are the key players operating in the industry?

ABB Ltd., Brook Crompton, Hitachi Ltd., Johnson Electric Holdings Limited, Menzel Elektromotoren GmbH, Nidec Corporation, Regal Rexnord Corporation, Rockwell Automation Inc., Siemens AG and Toshiba Corporation.