Press release
Inverter Duty Motor Market Share, Size, Revenue, Latest Trends, CAGR Status, Growth Opportunities and Forecast 2026
Growing urbanization and recent infrastructure developments are likely to drive the global inverter duty motor market between 2018 and 2026. With the rising use of inverter duty motors, extraction of oil and gas has become simpler, helping companies to achieve cost-effective results. In addition to this, inverter duty motors help to improve operational efficiency, thereby making it imperative for oil & gas firms to invest in these products. These motors help to maintain variations in high voltage produced by variable frequency drives or VFDs by running at slow speeds without overheating. Moreover. the major difference between general-purpose motors and inverter duty motors is that the latter can withstand higher voltage spikes without overheating or insulation failing.Among applications, inverter duty motors can be divided as per fans, pumps, conveyor, winders, hoists, mixers, and cranes. Pumps to cover the major portion of the inverter duty motor market share owing to their rising demand from heating, ventilation & air-conditioning (HVAC) applications. Industries such as oil & gas, chemicals, paper & pulp, and metal & mining are increasingly investing in inverter duty motor systems, impacting the inverter duty motor market size. Of these, the oil & gas industry to exhibit the highest demand on the backdrop of rising need for upstream operations such as drilling.
Fortune Business Insights offers a detailed overview of the global inverter duty motor market in a report, titled The report aims to offer a detailed overview of the global inverter duty motor market with a detailed segmentation as per application, end-users, construction material, standard, and geography. Furthermore, the report provides insights into the competitive landscape by throwing light on leading companies operating in this market. The market witnesses' different growth opportunities and trends which will help our readers to stay up-to-date.
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https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/inverter-duty-motor-market-100796
List of Key Players Covered in this Market Report
• Wilson Electric
• Adlee Powertronic Co. Ltd
• WEG SA
• Nord Drivesystems
• Crompton Greaves Limited
• Bison Gear and Engineering Corporation
• Rockwell Automation Inc
• Regal Beloit Corporation
• Nidec Corporation
• ABB Ltd
• Havells India Ltd
• Toshiba
• Siemens AG
• Emerson
Report scope can be customized as per requirements. Click here:
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Key Advantages of Mining Equipment Market Report:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Mining Equipment Market industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter's Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Mining Equipment Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
COVID-19 Impacts:
The COVID-19 pandemic has had a great influence on numerous industries and the mining equipment industry also had a principal collapse. The demand for these machines observed a substantial drop owing to the supply chain commotions.
Moreover, even mining equipment producers observed the absence of raw materials owing to the import-export and travel limitations resulting in terminations or delays in mining assignments.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/inverter-duty-motor-market-100796
Introduction of IE3 Levels by EU to Stoke Demand for Inverter Duty Motors
Among regions, North America is anticipated to lead the global inverter duty motor market in the foreseeable future. The growth is primarily attributable to the presence of unconventional and large oil & gas industries. Following this, stringent regulations on motor efficiency are also expected to enable growth in the market. Owing to technological developments across industries, manufacturers have upgraded their inverter duty motors in terms of capacity, aiding the inverter duty motor market growth in North America.
The market in Europe is projected to exhibit growth at a considerable rate by 2026. European Union passed a regulation which says, "Electric motors have to mandatorily meet the IE3 efficiency levels and if they fail to do so, then these motors need to be equipped with variable speed drive." This shows that the demand for inverter duty motors will increase as these systems help to maintain minimum efficiency levels. The presence of large industrial base in developed countries such as Germany, the U.K, and France is expected to further drive the market growth in this region.
The rising focus on infrastructure development across manufacturing industries is the primary factor responsible for driving the market in the Asia Pacific. Other regions such as the Middle East & Africa and Latin America are expected to show enormous potential for the market over the projected horizon.
As per the report, some of the leading players operating in the global inverter duty motor market include:
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