Industrial Motors Market Prophesied to Grow at a Faster Pace by 2028

Future Market Insights

Motors, being vital components in manufacturing units, have witnessed an increase in demand across several industries including construction, automotive, agriculture, and other industrial sectors. Application of electrical motors for being a power-source in steam-ships and industrial plants is a key factor pushing the application of industrial motors. Moreover, the overall industrial landscape witnessed a paradigm shift from traditional motors to full electric alternatives, thereby, pushing for compact and efficient industrial motors. Additionally, the last few decades saw a greater importance placed on environmental safety translating into stringent norms and regulations.

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Companies to Harness the Industrial Motors Market Potential

The industrial motors market has witnessed major transformations with the innovations introduced in the market. The manufacturers of industrial motors are leveraging the industrial transformations to develop enhanced industrial motors that could provide improved performance efficiency. With improved technological improvements, industrial motors manufacturers are also working toward reducing the size of the industrial motors. For instance, the supplier of industrial components, Kollmorgen recently started shipping its new compact-sized and powerful servo motors

Novel Innovations in Brushless DC Motors to Transform Industrial Motors Landscape

DC motors are likely to be highly used industrial motors as these motors have a simple design and they offer various benefits including low maintenance, high efficiency, and a longer life. Owing to this, various innovations are being made for the enhancement of such motors. For instance, Ablic, a Japanese chip-making company has developed a zero-crossing latch chip, which the company claims that it would significantly improve the design flexibility for brushless DC industrial motors.

Promising opportunities for Key Manufacturers Spotted in Asian Economies

The manufacturers of motors have been focusing on the key regions that allow them to gain major profits in the emerging countries. The use of motors in the flourishing industries and extensive application segments in major economies of regions such as North America, Europe, and Asia Pacific is expected to project major investment opportunities for the key players in the market.

For instance, Teco, a leading player in the industrial motors market is looking forward to expanding its capabilities for the Asia Pacific region, with their new manufacturing plant in the Vietnam. The company looks forward to tap into the market in South-east Asia with this plant whose annual production capability would be of 300,000 small industrial motors.

Manufacturers to Focus on the Flourishing European Region

Companies are seen targeting the European market for industrial motors owning to the increasing opportunities reflected in the region. With the help of key strategies such as expansion and acquisition, the industrial motors manufacturers are moving towards gaining a significant share in the European market. For example, the Nidec Corporation recently acquired complete ownership interest of 100 percent from its shareholders. This would create a crucial business combination, allowing the company to add new products while focusing on the European market to strengthen their motor sales.

Transforming Efficiency Standards to Push High-Efficiency Motors in the Market

Where countries such as India are banning the use of low efficiency motors, the manufacturers in the industrial motors market are focusing on new innovative technologies that could help the efficiency of the motors.

  • ABB Group, an industrial motors market player focuses on these changing standards of efficiency. This could also act as an opportunity for shifting towards IE2-efficiency versions of industrial motors.
  • Wolong Electric Group has went on to acquire the business of mid and low voltage industrial motors business of GE. This acquisition manufacturing, designing, development, and sales of these motors.
  • Emerson, a company recognized in the industrial motors market has gained major end-market sales, which showcases its continual growth.

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Other players in the industry motors market include ATB Austria Antriebstechnik AG, TECHNOSOFT SA, Rockwell Automation, Inc., AMETEK.Inc Schneider Electric SE, Fuji Electric Co., Ltd., MENZEL Elektromotoren GmbH, Siemens Ltd., TECO Electric Europe, Toshiba Corporation, and Marelli Motori.

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