Press release
Segment Evaluation and Major Growth Areas in the Industrial Electrification Market
Industrial Electrification Market
Forecasted Growth and Size of the Industrial Electrification Market by 2030
The industrial electrification market is projected to experience strong growth over the next several years, reaching a valuation of $212.82 billion by 2030. This expansion corresponds to a compound annual growth rate (CAGR) of 7.9%. The projected growth is largely fueled by factors such as rising decarbonization targets within industries, increasing investments in electric process technologies, the spread of smart factory initiatives, greater demand for power quality management, and the growing adoption of predictive maintenance solutions. Key trends driving this market include heightened electrification of industrial heating processes, wider deployment of electric motors and drives, integration of smart power management systems, an increase in retrofit electrification projects, and a stronger focus on optimizing energy efficiency.
Download a free sample of the industrial electrification market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=33182&type=smp&utm_source=OpenPR&utm_medium=Paid&utm_campaign=Feb_PR
Leading Companies Influencing the Industrial Electrification Market
Several prominent organizations dominate the industrial electrification landscape. Notable companies include Siemens Aktiengesellschaft, Hitachi Energy Ltd., Panasonic Holdings Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Incorporated, Asea Brown Boveri Ltd., Larsen & Toubro Limited, Eaton Corporation plc, Nidec Corporation, Emerson Electric Company, Legrand Société Anonyme, Rockwell Automation Inc., Fuji Electric Co. Ltd., Vertiv Holdings Co., WEG Sociedade Anônima, Omron Corporation, Inovance Technology Co. Ltd., Yokogawa Electric Corporation, and Bharat Heavy Electricals Limited.
A recent collaboration highlights the market's momentum: in May 2023, US-based Polaris Inc., a producer of powersports vehicles, partnered with Sweden's Micropower Group. Through this partnership, both companies aim to accelerate the adoption of electrification technologies, promoting sustainable industrial transformation and enhancing energy efficiency. Micropower Group specializes in high-efficiency industrial electrification solutions, making this collaboration particularly strategic.
View the full industrial electrification market report:
https://www.thebusinessresearchcompany.com/report/industrial-electrification-market-report?utm_source=OpenPR&utm_medium=Paid&utm_campaign=Feb_PR
Emerging Trends that Will Shape the Industrial Electrification Market
Market leaders are investing heavily in developing cutting-edge solutions such as integrated digital electrification platforms. These platforms combine hardware, software, and analytics to optimize energy distribution, monitor system performance, and enable predictive maintenance, thereby improving overall system reliability and energy efficiency.
For example, in April 2024, Siemens introduced Electrification X, part of its Xcelerator portfolio designed to support smart buildings, grids, and industrial operations. This innovative platform delivers real-time energy monitoring, automated controls, and advanced analytics to reduce energy losses and boost operational efficiency. By leveraging connected devices and digital twin technology, Electrification X facilitates proactive decision-making, seamless integration with existing infrastructure, and enhanced system resilience tailored for complex industrial and commercial environments.
Detailed Segmentation of the Industrial Electrification Market
This report segments the industrial electrification market into several categories to provide a comprehensive understanding:
1) Component: Equipment; Services; Software
2) Technology: Electrification of Heat; Electrification of Mobility; Electrification of Processes
3) Application: Manufacturing; Oil and Gas; Chemicals; Mining; Food and Beverage; Pulp and Paper; Other Applications
4) End User: Heavy Industry; Light Industry
Further breakdowns include:
- Equipment: Electric Motors, Power Distribution Panels, Transformers, Switchgear, Power Converters, Industrial Control Devices
- Services: Installation, Maintenance and Repair, Consulting and Engineering, System Integration, Training and Support
- Software: Energy Management, Power Monitoring, Supervisory Control and Data Management, Industrial Automation, Predictive Maintenance
This detailed segmentation highlights the diverse and multifaceted nature of the industrial electrification market, positioning it for robust growth and innovation in the coming years.
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Segment Evaluation and Major Growth Areas in the Industrial Electrification Market here
News-ID: 4402278 • Views: …
More Releases from The Business Research Company
Emerging Growth Patterns, Segment Analysis, and Competitive Approaches Influenci …
The artificial intelligence (AI) guardrails platform market is positioned for remarkable expansion in the coming years as organizations increasingly prioritize safe and responsible AI usage. With rising regulatory requirements and enterprise demands for transparency and oversight, this market is set to grow significantly, offering innovative solutions that help businesses implement effective AI governance and risk management strategies.
Projected Growth and Market Size for the AI Guardrails Platform Market
The AI…
Segmentation, Major Trends, and Competitive Overview of the Banking Data Lake Pl …
The banking data lake platform market is poised for remarkable expansion over the coming years, driven by technological advancements and increasing demand for efficient data management in the financial sector. As banks and financial institutions seek better ways to handle vast amounts of complex data, this market is set to witness strong growth and innovation through 2030.
Banking Data Lake Platform Market Size and Long-Term Growth Outlook
The market for…
Leading Companies Enhancing Their Roles in the AI Infrastructure Security Market
The AI infrastructure security sector is rapidly gaining importance as organizations increasingly rely on artificial intelligence systems. Ensuring these systems remain protected from evolving cyber threats is becoming a priority, driving investment and innovation in this specialized market. Let's explore the current market size, leading players, key trends, and market segmentation to understand where this industry is headed.
AI Infrastructure Security Market Size and Growth Projections
The AI infrastructure security…
Market Driver Insights: The Impact of Recent Advancements on the Artificial Inte …
The artificial intelligence large language models market is set to undergo rapid expansion in the coming years, driven by technological advancements and growing enterprise adoption. As organizations increasingly incorporate AI into their operations, the demand for sophisticated language models is rising sharply. Let's delve into the market's current size, key players, emerging trends, and the segmentation that defines this fast-moving industry.
Projected Growth and Market Size of Artificial Intelligence Large Language…
More Releases for Electrification
Advanced Magnetic Materials Market Electrification Boost
According to The Insights Partners Global Advanced Magnetic Materials Market is witnessing sustained double-digit demand growth, driven by electrification, renewable energy, and miniaturized electronics across global manufacturing hubs. Rising investments in high‐performance magnets for electric vehicles, industrial automation, and medical technologies are reshaping competitive dynamics and innovation priorities for leading players.
Market overview
Advanced magnetic materials are engineered soft, semi‐hard, and permanent magnets designed to deliver high energy density, thermal stability, and…
Evolving Market Trends In The Military Vehicle Electrification Industry: Innovat …
The Military Vehicle Electrification Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Military Vehicle Electrification Market Size During the Forecast Period?
Over the past few years, the military vehicle electrification market size has seen rapid expansion. The market, valued at $6.82 billion…
Military Vehicle Electrification Market Report 2024 - Military Vehicle Electrifi …
"The Business Research Company recently released a comprehensive report on the Global Military Vehicle Electrification Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
Ready to Dive into Something Exciting? Get Your Free Exclusive…
ElectroRevolution: Accelerating the Era of Vehicle Electrification
According to a recent report published by Allied Market Research, titled, "Vehicle Electrification Market by Product Type, Sales Channel, and Vehicle Type: Opportunity Analysis and Industry Forecast, 2020-2027,"the global vehicle electrification market was valued at $70.14 billion in 2019, and is projected to reach $140.29 billion by 2027, registering a CAGR of 11.3%.
𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/2548
Vehicle electrification is associated with the range of electric-powered technologies used to drive the…
Airbags and Vehicle Electrification: Integration and Compatibility
According to a new report published by Allied Market Research, titled, "Airbag Market," by Module, by Type, by Vehicle Type, by Material, by Sales Channel: Global Opportunity Analysis and Industry Forecast, 2020-2030," The airbag market was valued at $27.6 billion in 2020, and is estimated to reach $47.0 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.
An airbag is a vehicle safety device consisting of a…
Aircraft Electrification Market Size - Forecasts to 2027
According to a new market research report published by Global Market Estimates, the Global Aircraft Electrification Market is projected to grow at a CAGR value of 14.5% from 2022 to 2027.
Honeywell International Inc., Safran, Thales Group, Raytheon Technologies, GE Aviation, Ametek, Meggitt PLC, BAE Systems, United Technologies Corporation, Radiant Power, among others, are the major players in the global aircraft electrification market.
Browse 151 Market Data Tables and 111 Figures…
