Safety Drives And Motors Market 2021 Advancement Outlook – Rockwell Automation Inc., SIGMATEK Safety Systems, ABB Ltd, Beckhoff Automation GmbH

Safety Drives And Motors Market - Growth, Trends, And Forecast (2020 - 2025)

The Safety Drives And Motors Market covers important aspects of this market concerning fundamental parameters. The report explains outline of the business range, concentrating on the overall industry, development possibilities, types and application. It brief Safety Drives And Motors summary of the market considering the current and future scenarios. It also provides information in terms of development and its capacities.

The Global Safety Drives and Motors Market is projected to register a CAGR of nearly 6.63% during the forecast period (2020-2025).

The Safety Drives And Motors market is highly competitive and consists of a number of major players: Rockwell Automation Inc., SIGMATEK Safety Systems, ABB Ltd, Beckhoff Automation GmbH, KOLLMORGEN Corporation, Siemens AG, KEBA Corporation, Hoerbiger Holding AG, Pilz International, WEG SA

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Industry News:

- June 2019 - The Linz-based KEBA Group acquired LTI Motion Group, a pioneer of drive solutions from Germany. It serves customers in mechanical engineering sectors. The acquisition makes KEBA a total solution provider in the area of industrial automation.
- October 2018 - Rockwell Automation launched the Integrated Safety Functions Option Module which offers several safety functions based on IEC 61800-5-2 standards for Allen-Bradley PowerFlex 755 and 755T AC drives. It includes the ability to monitor speed, direction and position on an EtherNet/IP network.
- September 2019 - Beckhoff Automation expanded its footprint in the Northeast region with new offices in Greater Boston and Philadelphia. It now offers educational opportunities for Beckhoff customers who want to increase their expertise in PC-based control, advanced motion control, mechatronics and EtherCAT industrial Ethernet technology.

Scope of the Report

Oil and Gas, Petrochemicals and Chemicals, and Energy utility industries are the major sources of the demand for safety drives and motors in the current market scenario. Additionally, there is a considerable demand from manufacturing, mining and construction sectors owing to the rapid adoption of Industry 4.0 policies.

Key Market Trends

Oil & Gas to Occupy the Maximum Market Share

- Electric drives and motors play a major role in the oil & gas production and distribution, pumping systems for oil and compression drive trains for gas infrastructure.
- According to GE, unplanned outages from moto failure can cause a refinery revenue loss of USD 1.1 million for every half hour offline.
- With this, VFDs (Variable Frequency Drives) are increasingly being used in the oil & gas industry to control the flow, by adjusting speed that avoids energy wastage in the throttling valves.
- France-based Leroy Somer is a pioneer in drive system for oil & gas supply chain. Some of their products are Dyneo Permanent Magnet Synchronous Motors, ATEX Dust and Gas Safety Motors, Powerdrive MD2 AC Drives which are known for offering reliability, robustness, efficiency and flexibility.
- GE is providing a complete solution to drive the main refrigerant compressors using electrical motors (synchronous or induction) powered by high-power drives based on thyristor technology (for LCI) or IGBT technology. This would assist LNG supply chain in processing, transport and distribution network.
- There are many active and planned project work in the oil and gas sector across the Middle East, which is the largest producer of oil & gas.

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North America to Occupy Major Market Share

- North America is one of the largest markets for safety drives and motors globally. The region has a high demand form the upstream oil and gas sector and industrial segment. In fact it is one of the largest adopter of industry 4.0 policies in the world. Additionally, the US governments policies to increase production and depend less on exports is expected to be the primary driver for demand from the industrial sector.
- According to BP Statistical Review of World Energy 2019, global oil production rose by 2.2 million b/d. Maximum net increase was accounted for by the US, with their growth in production of 2.2 million b/d. Growth in gas consumption was also driven by the United States at 78 bcm.
- Moreover, with the United States Department of the Interior (DoI) planning to allow offshore exploratory drilling in about 90% of the outer continental shelf (OCS) acreage, under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, the oil and gas sector in the region is expected to open up new opportunities to the market.
- However declining mining industry in Canada is restraining the market growth in this region. According to the Mining Association of Canada, value of total mining projects planned and under construction from 2018 to 2028 has reduced by 55% since 2014. This was due to an increasing interest in Canadas emerging cannabis sector, which gained attention after recreational use of marijuana was legalized in October 2018.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Safety Drives And Motors Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs

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