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Global Industrial Motors Market Report 2021-2026 - Intense Competitive Rivalry with GE, ABB, and Siemens Dominating

·6-min read

Dublin, Dec. 31, 2021 (GLOBE NEWSWIRE) -- The "Industrial Motors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.

The global industrial motors market was valued at USD 19.81 billion in 2020, and it is expected to reach USD 23.48 billion by 2026, registering a CAGR of 2.97%, from 2021 to 2026.

Motors are the driving force of industrial production. New approaches to motor monitoring, alignment, testing, and connections save time and costs while improving safety. At the same time, energy-saving motors and intelligent drives are boosting efficiency and performance while facilitating troubleshooting.

The market for industrial motors is primarily driven by the growing focus towards industry 4.0. Industrial automation drives the manufacturing sector toward more efficient productivity in various regions, which is expected to show strong growth during the forecast period. As per Industrial Energy Accelerator, approximately 70% of all electrical energy consumed by industry is used by the millions of electrical motors installed worldwide. Responsible for driving both core industrial processes as well as auxiliary systems such as compressed air generation, ventilation, and water pumping, motors are critical to almost every industry.

AC motors are generally more reliable with low maintenance requirements, and their service life is often limited only by the bearing life. Since they do not need commutators, brushes, or slip rings, they don't have parts that wear out regularly. This makes them ideal for applications where the motor must be continuously available to operate, is not easily accessible, or will operate without supervision for long periods of time.

The size of motors is dependent on the electric supply and voltage at the site of applications; therefore, their size and weight are needed to be maintained. The key trend exhibited in the market is the development of high power to weight ratio electric motors. Manufacturers are developing electric motors with a high power-to-weight ratio, as large electric motors have portability and high energy consumption issues.

COVID-19 has negatively impacted the market growth, mainly due to stoppage in discrete manufacturing industry operations. For instance, according to the Monthly Survey of Manufacturing, 2021 by the Government of Canada, Manufacturing sales fell 2.1% to USD 57.1 billion in April 2021, on lower sales in 11 of 21 industries.

Key Market Trends

  • Low Voltage Has the Largest Share in the Market

  • Asia-Pacific Holds the Largest Market Share

Competitive Landscape

The intensity of competitive rivalry in the industrial motors market is high, owing to the presence of large-scale companies, such as the General Electric Company, ABB Group, Siemens AG, Emerson Electric Co. Inc., and Johnson electric. Sustainable competitive advantage can be attained through innovation, but it has become increasingly difficult for firms to differentiate themselves from market competition. Because the concentration of buyers is high, people have the option to choose different buyers. Although the market comprises various players, only a handful are prominent in the market for their high standards and excellent quality.

Some of the key players in the industry are GE, ABB, and Siemens AG. Some of the recent developments in the industrial motors market are:

  • February 2020 - GE successfully delivered the variable-speed drive system (VSDS) and an e-house to a petrochemical plant by Shell Nederland Chemie BV. GE's VSDS, comprising a high-speed induction motor and a variable speed drive, can steadily reach over 90% energy efficiency for the compressor train.

  • June 2020 - ABB launched its AXW 315 and 400 IEC water-cooled motors, which offer more watts per kilogram than conventional totally-enclosed fan-cooled (TEFC) motors. These motors deliver an average of 40% more power over conventional fan-cooled designs. With the increasing requirement for energy-efficient motors in the industry, these products create a point of difference in the market.

Key Topics Covered

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview (Includes Impact of COVID-19 on the market)
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Industry Value Chain Analysis

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Demand for Energy Efficiency Owning to Government Regulations
5.1.2 Growing Shift towards Smart Motors
5.2 Market Restraint
5.2.1 Portability Issues
5.2.2 High Initial Investment for Procuring New Equipment and Upgrading Existing Equipment

6 MARKET SEGMENTATION
6.1 By Type of Motor
6.1.1 Alternating Current (AC) Motors
6.1.2 Direct Current (DC) Motor
6.1.3 Other Types of Motors (Servo and Electronically Commutated Motors (EC))
6.2 By Voltage
6.2.1 High Voltage
6.2.2 Medium Voltage
6.2.3 Low Voltage
6.3 By End User
6.3.1 Oil and Gas
6.3.2 Power Generation
6.3.3 Mining and Metals
6.3.4 Water and Wastewater Management
6.3.5 Chemicals and Petrochemicals
6.3.6 Discrete Manufacturing
6.3.7 Other End Users
6.4 Geography
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 Germany
6.4.2.2 United Kingdom
6.4.2.3 France
6.4.2.4 Russia
6.4.2.5 Rest of Europe
6.4.3 Asia Pacific
6.4.3.1 China
6.4.3.2 Japan
6.4.3.3 India
6.4.3.4 South Korea
6.4.3.5 Rest of Asia Pacific
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Rest of Latin America
6.4.5 Middle East and Africa
6.4.5.1 Saudi Arabia
6.4.5.2 South Africa
6.4.5.3 Rest of Middle East and Africa

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 General Electric Company
7.1.2 ABB Ltd.
7.1.3 Allen - Bradly Co. LLC (Rockwell Automation Inc.)
7.1.4 Siemens AG
7.1.5 Ametek Inc.
7.1.6 Arc Systems Inc.
7.1.7 Johnson Electric Holdings Limited
7.1.8 Emerson Electric Co.
7.1.9 Toshiba International Corporation
7.1.10 Nidec Corporation
7.1.11 Maxon Motor AG
7.1.12 Franklin Electric Co. Inc.
7.1.13 Fuji Electric Co. Ltd.
7.1.14 ATB Austria Antriebstechnik AG
7.1.15 Menzel Elektromotoren GmbH

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/xkqw6

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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