Press release
Motor Monitoring Global Market Report 2025: Thriving on Electric Vehicle Adoption, Technological Advancements, and Agricultural Expansion
Agricultural expansion, temperature regulation, and the adoption of electric vehicles are set to drive the Motor Monitoring Global Market to $194.85 billion in 2025.What Is The Projected Market Size Of The Global Motor Monitoring Global Market Report 2025 And Its Growth Rate?
- The motor home market size has notably grown in recent years, growing from $181.06 billion in 2024 to a projected $194.85 billion in 2025.
- This indicates a compound annual growth rate (CAGR) of 7.6% over the course of one year, and can be attributed to factors such as agricultural expansion, water conservation, temperature regulation; as well as improvements in crop quality and yield.
- Looking ahead, the motor home market size is expected to see further growth. It is predicted to reach $249.6 billion in 2029, equating to a CAGR of 6.4%.
- The growth in this forecast can be attributed to climate change mitigation, organic farming practices, precision agriculture, a growing population coupled with increasing concerns about food security, an emphasis on soil health, and support from government subsidies.
What Is Driving The Growth In The Motor Monitoring Global Market Report 2025?
The synergistic increase in the adoption and proliferation of electric vehicles (EVs) globally is expected to catalyze the growth of the motor monitoring market. The rationale behind this is that an electric vehicle can be propelled by one or more electric motors - Motor monitoring can heighten the longevity of these systems by detecting prematurely deteriorated ones, thus providing invaluable insight into streamlining and improving quality. Citing data from the International Energy Agency, electric car sales saw an increase of 3.5 million in 2023 compared to the previous year. Therefore, it is logical to deduce that the soaring adoption of electric vehicles is driving the growth of the motor monitoring market.
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Who Are the Key Players Driving Motor Monitoring Global Market Report 2025 Growth?
Major companies operating in the motor monitoring market include:
- ABB Ltd.
- General Electric Company
- Siemens AG
- Honeywell International Inc.
- Schneider Electric SE
- Banner Engineering Corp.
- National Instruments Corp.
- AB SKF
- Emerson Electric Co.
- Rockwell Automation Inc.
- Mitsubishi Electric Corporation
- Eaton Corporation plc
- WEG Group
- KCF Technologies Inc.
- Advantech Co. Ltd
- Dynapar Corporation
- Phoenix Contact GmbH & Co. KG
- Parker Hannifin Corporation
- Analog Devices Inc.
- Texas Instruments Incorporated
- STMicroelectronics N.V.
- NXP Semiconductors N.V.
- Infineon Technologies AG
- Renesas Electronics Corporation
- Maxim Integrated Products Inc.
- ON Semiconductor Corporation
- Microchip Technology Inc.
- Broadcom Inc.
- TE Connectivity Ltd.
- Mouser Electronics Inc.
- Amphenol Corporation
- RS Components Ltd.
- Vishay Intertechnology Inc.
- Murata Manufacturing Co. Ltd.
- Panasonic Corporation
What Are The Key Trends In The Motor Monitoring Global Market Report 2025?
Key trends in the forecast period include:
- Technological advancements in mulch film materials
- Increasing role of mulch films in organic farming
- Initiatives for film recycling
- Development of smart mulch technologies
- Use of biodegradable mulch films.
What Are The Segments Of The Global Motor Monitoring Global Market Report 2025?
- By Offering: Hardware, Software, Services
- By Deployment: On-Premise, Cloud
- By Monitoring Process: Oil Analysis, Motor Current Analysis, Ultrasound, Thermography, Vibration Analysis, Other Monitoring Process
- By End User: Automotive, Oil And Gas, Metals And Mining, Power Generation, Water And Wastewater Treatment, Food And Beverages, Chemicals, Other End Users
Which Region Leads The Motor Monitoring Global Market Report 2025?
North America was the largest region in the motor monitoring market in 2024, with Asia-Pacific set to be the fastest-growing region during the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Motor Monitoring Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Motor Monitoring Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Motor Monitoring Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Motor Monitoring Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Motor Monitoring Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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