Industrial Motors Size, Share, Trends 2022-2027

The latest research study "Industrial Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the Global Industrial Motors Market size reached US$ 21.11 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.45 Billion by 2027 exhibiting a CAGR of 4.80% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

An industrial motor is used to convert electrical energy into mechanical energy. It relies on alternating current (AC) resources, such as power generators or grids, to work efficiently. It also eliminates the need for fuel, requires engine-oil maintenance and comprises few moving parts compared to other electrical devices. In addition, it is highly efficient, durable, and has a longer lifespan. Owing to these properties, industrial motors are used in pumps, power tools, compressors, turbines, blowers, industrial fans, machine tools, ships, movers, paper mills, alternators, and rolling mills.

Industrial Motors Market Trends and Drivers:

The market is primarily driven by the rising adoption of electric motors in auxiliary systems and industrial processes such as compressed air generation, water pumping, and ventilation. In addition, alternating current (AC) motors are widely utilized in ovens, pumps, water heaters, and garden equipment, which represent another major growth-inducing factor.

Moreover, manufacturers are substantially investing in research and development (R&D) activities to develop electric motors with a high power-to-weight ratio for decreasing energy consumption and resolving portability issues. This, coupled with the rising number of smart manufacturing pilot projects initiated by governments of numerous countries, is escalating the demand for industrial motors.

Furthermore, the surging need for water recycling owing to the depletion of water resources is expected to accelerate market growth in the coming years.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type of Motor:

• Alternating Current (AC) Motor

• Direct Current (DC) Motor

• Others

Breakup by Voltage:

• Low Voltage

• Medium Voltage

• High Voltage

Breakup by End User:

• Oil and Gas

• Power Generation

• Mining and Metals

• Water and Wastewater Management

• Chemicals and Petrochemicals

• Discrete Manufacturing

• Others

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This release was published on openPR.