Panoramica di mercato

The global industrial motors market is projected to experience a compound annual growth rate (CAGR) Di 8.7% da 2021 A 2027. It is expected to reach $101 miliardi di dollari 2027, up from $61 miliardi di dollari 2021. Industrial electric motors are electromechanical machines found in various industrial products worldwide. They convert electrical energy into mechanical energy and are commonly used in conveyors, pompe, fans, and other industrial machinery. The market for industrial motors is divided into AC and DC motors, further classified into low, medium, and high voltage types, and distributed through different sales channels.

Several factors are expected to drive the growth of the global industrial motors market. These include increasing infrastructural development in emerging nations, residential construction in the U.S., growth in the oil & gas industry, and increased production in the chemical industry. China is anticipated to exhibit the highest CAGR during the forecast period due to its large population, industrial establishments, growing economy, and rising industrial expenditures.

With global electricity consumption projected to double by 2050, reducing CO2 emissions has become a priority to mitigate climate change. Electric motors account for approximately 40% of global energy use, and motors used in industrial plants consume between 65 E 80% of total plant electricity. Perciò, there is a rising demand for energy-efficient motors in the industrial motors market. In Europe, the shift from IE2 or IE3 motors to IE4 began in 2017 and is expected to continue during the forecast period. Inoltre, fitting Variable Frequency Drives (VFDs) with ratings equivalent to IE3 has been allowed to increase the efficiency of IE3 motors.

The demand for integrated and scalable products is driving the continuous growth of the global industrial motors market. This trend is observed in highly industrialized economies as well as developing countries, where companies are adopting the latest technologies and concepts like digital manufacturing works or factory to gain a competitive edge. Automation has also gained prominence, leading to increased demand for motors that provide higher frequency, accuracy, and automation capabilities, such as servomotors and electric motors.

Fluctuations in steel prices have become a concern for the industrial motors market since steel is a dominant raw material. Price volatility affects input costs for many industries, including those that consume steel, and can disrupt growth strategies. Raw material cost fluctuations, particularly for steel and aluminum, may hinder the growth of the global industrial motors market.

The COVID-19 crisis had a significant impact on the industrial motors market, with economic activities coming to a halt in 2020. Major revenue-generating end-users, including mining, warehousing, and manufacturing, were affected, resulting in a decline in sales. Lockdown measures restricted the application of industrial motors, impacting overall revenue generation. The outbreak of COVID-19 also caused a decline in global foreign direct investment (FDI) by 5-15%, primarily due to the slowdown in the manufacturing sector and the shutdown of non-essential factories and production lines. Industries such as automotive, energia, and aerospace experienced a negative impact on domestic and foreign investments.

The demand for new industrial motors declined as major end-user sectors, including HVAC, automotive, machinery, food and beverage, and aerospace manufacturing, were affected by the pandemic. This decline in demand affected both the fulfillment of previous orders and the placement of new orders by maintenance, repair, and operations (MRO) clients. Complete lockdowns in China and South Korea during Q1 2020 had residual negative effects on demand in Q2 as well, as major automotive parts and electronic component manufacturing markets were affected. Temporarily halted factories, such as those of Hyundai, Kia, and Ssang Yong in South Korea, negatively impacted the industrial motors market.

Segmentazione del mercato

Il mercato è segmentato in base a vari fattori, including product, power output, voltage, efficiency, sales channel, utente finale, e geografia.

Segmentation by Product
AC Motor
DC Motor

Segmentation by Power Output
Integral Horsepower
Fractional Horsepower

Segmentation by Voltage
Low
Medium
High

Segmentation by Efficiency
IE1
IE2
IE3
IE4

Segmentation by Sales Channel
Direct to End-user
Direct to OEM
Direct to System Integrator
Distributor to End-user
Distributor to OEM
Distributor to System Integrator

Segmentazione per utente finale
HVAC
F&B
Power Generation
Mining
Settore automobilistico
Machine Tools
Elevators and Escalators
Warehousing
Carta & Paperboard
Oil & Gas
Metal Processing
Pharmaceutical
Chemical
Confezione
Altri

Segmentazione per geografia
Nord America – NOI, Canada
Europa – Germania, Francia, UK, Italia, Spagna
APAC – Cina, Giappone, India, Corea del Sud, Australia
America Latina – Brasile, Messico, Argentina, Chile
Medio Oriente & Africa – Arabia Saudita, Tacchino, Rest of the Middle East & Africa

The global industrial motors market comprises two main types of motors: AC and DC motors. These motors are further categorized into various types and find applications in different industries. The AC motor market is expected to grow at a compound annual growth rate (CAGR) of over 9% durante il periodo di previsione. To minimize the environmental impact, there is a growing need to enhance the efficiency and precision of motors. With the increasing use of industrial machinery like elevators, conveyors, and compellers, the adoption of IE4 and higher-efficiency motors is expected to flourish in the market.

The industrial motors market can be categorized by power output into integral horsepower (IHP) and fractional horsepower (FHP) motors. IHP motors are widely used in automotive, mining, power generation, food & beverage, and HVAC industries. FHP motors, d'altra parte, are used in food & beverage, electrical, and mechanical machinery components such as power drills and routers. The automotive market has significant potential for IHP motors, although there might be a temporary decline due to the COVID-19 pandemic. Tuttavia, it is expected to gradually recover over the forecast period. The Asia-Pacific region is projected to experience robust growth, driven by developing nations like India and China, which have witnessed aggressive industrial development.

The global industrial motors market consists of various voltage brackets, including low, medium, and high voltage motors. During the forecast period, the low voltage market is anticipated to dominate, with a projected CAGR of 9.24% and reaching USD 63.04 miliardi di 2027. The low voltage motor market is influenced by energy efficiency legislation, classified into four types – IE1, IE2, IE3, and IE4. Regional regulations focused on enhancing energy efficiency will require buyers to opt for higher efficiency low voltage motors, which are more expensive. This will have a significant impact on revenue growth, although not necessarily on unit growth. Medium and high voltage motors are expected to thrive in the industrial motors market during the forecast period due to their suitability for advanced machines and long lifespan.

The growth of the energy-efficient motor industry is driven by factors such as energy savings and cost reduction compared to conventional motors, increased funding from policymakers for energy-efficient solutions, the need to reduce greenhouse gas emissions, and the implementation of energy-efficient motors in the manufacturing sector. Tuttavia, the high cost of premium performance (IE4) motors remains a critical limiting factor for market development.

Countries like Australia, Canada, and the United States have achieved a higher penetration rate of industrial motors. This trend is expected to motivate other countries to upgrade their motors to IE4 levels, leading to increased demand for IE4 motors in the future. Di conseguenza, the industrial motors market is likely to witness significant growth opportunities in the forecast period. Government agencies have been encouraging the adoption of IE4 motors in the industrial sector to promote electricity savings.

The global industrial motors market can be categorized based on sales channels into two segments: direct channel and indirect channel. Direct sales channels enable consumers to purchase goods directly from vendors, eliminating the need for third parties like dealers or distributors and reducing extra costs. Strategic partnerships are expected to further reduce operational costs in the market. In the direct sales channel, three scenarios exist: direct to original equipment manufacturer (OEM), direct to end-user, and direct to system integrator.

The indirect sales channel involves purchasing through a distributor or dealer. Customers may choose the indirect method due to factors such as lack of brand awareness, variety, prezzi, and long-term contracts. In the distribution sales channel, three scenarios exist: distributor to OEM, utente finale, and system integrator. The distributor to OEM scenario is expected to capture the majority of the market share and grow at a CAGR of 5.35% in terms of revenue during the forecast period.

The demand for industrial motors is expected to grow due to increased industrial production and the replacement of old motors with new energy-efficient models. The expansion and investments by both private and public players are expected to drive demand in the industrial motors market. Industries such as oil & gas, chemical, mining, and others have strengthened their position in the Middle East, Nord America, and Asia-Pacific, expanding their operations in various countries.

Asia-Pacific holds the highest share in the global industrial motors market in terms of value (34%) and volume (48%). Industrial automation adoption in the region’s manufacturing, construction, power generation, and mining sectors is driving its market growth. While some countries experienced lower motor demand in 2020 due to economic disruptions and reduced industrial productivity, countries like Germany, the U.S., and the U.K. have embraced higher-efficiency motors like IE3 and IE4 AC motors, thereby driving market growth. Investor confidence in most countries across the globe has been affected by the COVID-19 pandemic.

There is a strong focus on expanding oil reserves, particularly through the exploration of unconventional sources. This drives the demand for industrial motors while supporting industry development. The United States holds a significant share in the global industrial motors market, contributing over one-third of the revenues generated in North America. The demand for packaging machinery in North America is expected to continuously rise due to concerns about food safety, healthy lifestyles, and regulatory bodies’ requirements for superior-quality food packaging. This will boost the demand for industrial motors in the packaging industry.

Panorama competitivo

The global industrial motors market is currently experiencing a heightened level of competition. Vendors in this industry are facing challenges due to the rapid advancements in technology and the continuous development and improvement of products in accordance with government policies and schemes. The competition among vendors to gain market share is intense, and the entry of large motor companies poses a significant challenge to domestic sellers. To maintain a strong market presence, suppliers are compelled to adapt and refine their unique value propositions.

The market is characterized by a high degree of fragmentation, with numerous manufacturers operating and selling industrial motors on a global scale. While there is a diverse mix of international and regional suppliers in the industry, global players are expanding their presence, making it increasingly difficult for regional suppliers to compete, particularly in terms of quality, tecnologia, and pricing. Major companies such as ABB, Siemens, Eaton, Johnson Electric, and Mitsubishi have a global footprint, with operations in key geographical areas such as North America, APAC, and Europe.

Tuttavia, local vendors are able to offer similar products at lower prices, thereby creating a competitive advantage in the market.

Key companies profiled in this report include ABB, Allied Motion Technologies, CG Power and Industrial Solutions, Eaton, Johnson Electric, Nidec, Regal Beloit Corporation, Siemens, WEG, ARC Systems, Ametek, Bonfiglioli, Brook Crompton, Dana Brevini Power Transmission, Fuji Electric, Maxon, Rockwell Automation, Sew- Eurodrive, TECO-Westinghouse.

Risposte alle domande chiave

What is the revenue generated by the global industrial motors market?

The global industrial motors market achieved a revenue of USD 61.07 miliardi di dollari 2021. Factors such as infrastructure development in emerging economies, residential construction in the U.S., growth in the oil & gas industry, and increased production in the chemical industry contribute to the rising demand for industrial motors.

What is the projected market share of the global industrial motors market by 2027?

By 2027, the global industrial motors market is projected to reach a market share of USD 101.10 miliardi.

What is the growth rate of the industrial motors market?

The industrial motors market is expected to grow at a compound annual growth rate (CAGR) Di 8.76% da 2021 A 2027.

Which region dominates the global industrial motors market?

The Asia-Pacific (APAC) region holds the largest market share in both value (approximately 34%) and volume (approximately 48%) in the global industrial motors market. The adoption of industrial automation in APAC, along with sectors like manufacturing, construction, power generation, and mining, contributes to the region’s market dominance.

What are the key drivers in the global industrial motors market?

Key driving factors in the global industrial motors market include the demand for IE4 efficiency low voltage motors, increased utilization of variable frequency drives (VFD) in IE2/IE3 AC LV motors, and growing investments in data centers.

Who are the key players in the global industrial motors market?

The key players in the industrial motors market include ABB, Allied Motion Technologies, CG Power and Industrial Solutions, EATON, Johnson Electric, and NIDEC CORPORATION.