Industrial Motor Market Report Discloses the Overall Market Statistics, Upcoming Trends, Company Shares and Geographic Market Diversities and Highlights Key Vendors - Shandong Huali Electric Motor Group Co. Ltd., Regal Beloit Corporation, Nidec Corporatio

Increasing number of industries across the globe use industrial motor in order to run their manufacturing units. Hence, manufacturers of industrial motor are introducing energy efficient motors with better design offering efficiency. New technologies are also being integrated in industrial motor to make it work more smartly. This FactMR report discusses key prospects for growth of global Industrial Motor Market during the forecast period, 2017-2026, offering pragmatic insights to lead market players towards devising & implementing informed strategies. The scope of the report is to analyze the global industrial motors market for the period 2017-2026 and give readers an accurate, unbiased analysis. Industrial motor manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines. The report begins with a concise summary of the global industrial motors market. This executive summary sets the tone for the rest of the report, giving users the scope of the report. The executive summary includes important facts and statistics on the global industrial motors market.

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Companies are moving towards using technically advanced industrial motors that can save energy as well as reduce operation cost. Among various motor designs used in industrial applications, DC motors are being used in servo applications on a large scale where accuracy and speed are important. Meanwhile, AC motors are being largely used in heating and cooling equipment. 

As per the new study by FactMR, the global market for industrial motor is likely to experience slow growth during 2017-2026. By 2026 end, the global market for industrial motor is projected to bring in US$ 14,959.1 million revenue. Stringent regulations on energy conservation and rising prices of electricity are driving the demand for energy-efficient industrial motor. However, the high cost of industrial motor as compared to the conventional motor, and high cost of installation are some of the factors hampering the global market for industrial motor.

IE2 Industrial Motor to Gain Maximum Traction in the Market

IE2 industrial motor is likely to gain maximum traction in the global market for industrial motor. Accounting for nearly one-third of the revenue share, IE2 industrial motor is projected to reach close to US$ 4,900 million revenue. Increasing use of IE2 industrial motor in industrial applications such as pumps, hydraulics, mixers, gears, HVAC and fans is driving the growth. Moreover, IE2 low voltage motors are also witnessing significant growth.

Industrial Motors to Find Largest Application in Pumps and Fans

Industrial motors are likely to find the largest application in pumps and fans. Towards 2026 end, pumps and fans are projected to create an absolute dollar opportunity of over US$ 2,300 million between 2017 and 2026. Energy efficient motors are being used on a large scale in the pumps and fans as it affects both the amount of mechanical power required by entire system and overall energy consumption.

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DC Brushless Motor to be the Highly Preferred Motor Type

Compared to the various types of industrial motors, DC brushless are likely to emerge as the highly preferred motor type. DC brushless is projected to exceed US$ 6,900 million revenue by 2026 end. Brushless motor help in alleviating various issues related to the more common brushed motors. Moreover, these motors have much simple design. Brushless motors also offer various advantages such as high efficiency, minimum maintenance, and long life. These motors are finding high application in compressors, pumps and fans, where ruggedness and reliability are required.

Commercial HVAC to Emerge as the Largest User of Industrial Motor

Commercial HVAC is likely to emerge as the biggest user of the industrial motor. Commercial HVAC is projected to create an incremental opportunity exceeding US$ 1,000 million between 2017 and 2026. HVAC systems are the largest consumers of energy in the building, hence, the demand for energy-efficient industrial motor in HVAC is growing. Manufacturers are also developing smart industrial motors that reduce payback time and offer high energy saving.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global industrial motor market through 2026, which include Shandong Huali Electric Motor Group Co. Ltd., CG Power and Industrial Solutions Limited, Regal Beloit Corporation, Nidec Corporation, Hyosung Corporation, Toshiba Corporation, TECO Electric & Machinery Co., Ltd., WEG SA, Siemens Aktiengesellschaft, and ABB Limited.

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This release was published on openPR.