Global Industrial Motors Market Outlook Report 2023-2028:

October 06, 2023 06:53 ET | Source: Research and Markets Research and Markets

Dublin, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Industrial Motors Market - Outlook & Forecast 2023-2028" report has been added to's offering. 400/690V AC MOTOR

Global Industrial Motors Market Outlook Report 2023-2028:

The global industrial motors market is expected to reach a value of $91.03 billion by 2028 from $62.76 billion in 2022, growing at a CAGR of 6.39%

This comprehensive analysis explores a multitude of parameters that have a profound impact on market growth, ranging from product lifecycle assessments to pricing and profit margin analyses. Our in-depth examination extends to the supplier and raw material landscape, delving into the intricacies of demand and supply factors that steer this market's course.

As we navigate through this report, you will find valuable value propositions for product development and gain valuable insights into the major vendors dominating the Industrial Motors Market. Additionally, we pinpoint regions experiencing exceptional demand and high growth, offering a holistic view of the industry's current landscape and future potential.

In a global landscape characterized by infrastructural growth in key markets such as the United States and emerging economies, coupled with a notable upsurge in production within the chemical and oil & gas sectors, the industrial motors market is poised for substantial expansion. Additionally, countries like China are demonstrating promising trajectories, marked by robust economic growth and heightened industrial expenditures.

The Asia-Pacific (APAC) region emerged as the frontrunner in the global industrial motors market, capturing a commanding share of over 33% in 2022. This dominance can be primarily attributed to the presence of industrial powerhouses like China and Japan, as well as the rapid acceleration of industrialization in India.

Within APAC, key players in the industrial motors market include China, Japan, India, and South Korea, all of which are significant markets for industrial motors. The ongoing urbanization and industrialization in emerging economies like India are fueling heightened demand for vehicles, consequently driving up the need for industrial motors, particularly within the automotive sector.

The competitive landscape of the global industrial motors market is currently undergoing intensification. Vendors operating in this space are facing the challenges posed by a rapidly evolving technological environment, characterized by continuous advancements and adaptations in accordance with regulatory frameworks and government policies.

The competition among these vendors for market share is fierce, and the entry of major motor corporations into the industry presents a significant hurdle for domestic sellers. In this evolving scenario, suppliers are compelled to fine-tune and enhance their unique value propositions to maintain a robust foothold in the industry.

Demand for IE4 Efficiency Low Voltage Motors There is a growing focus on energy efficiency and sustainability across industries worldwide. In response, manufacturers seek more energy-efficient motor options to reduce energy consumption and operating costs. IE4 efficiency motors offer significant energy savings compared to older, less efficient models.

Apart from this, several regulations and standards are in place that mandate or incentivize the use of more energy-efficient motors. For example, the European Union's Eco-design Directive has set minimum efficiency standards for electric motors sold within the EU, which are becoming increasingly stringent. Similar regulations exist in other parts of the world, such as the US Energy Policy Act (EPAct) and China's Minimum Energy Performance Standards (MEPS). Expansion of Warehouses in the APAC Region Recently, warehousing and logistics facilities have been increasing due to a boost in e-commerce platforms. The warehousing sector has been strong for a few years in many countries of the APAC region. Several organizations are growing through omnichannel distribution networks and increasing their workforce to retain productivity.

The requirement for warehouses is increasing rapidly due to the rise in demand for online delivery of goods. Demand for one-day delivery led to significant demand for warehouses, contributing to the industrial motors market. Increasing warehouses are expected to generate demand for industrial motors in the market. Warehousing and logistics facilities are transforming into modern warehouses.

They are implementing automation & IoT solutions for accuracy, reducing error, saving time, and enhancing productivity. Thus, the demand for industrial motors will likely be generated from countries or regions with large warehousing facilities. INDUSTRY RESTRAINTS

Supply Shortage of Electric Steel Industrial and commercial motors suppliers are dealing with a serious issue, i.e., lack of electric steel. In the past, suppliers like Nidec Corporation, Siemens, ABB, and others haven't had much trouble acquiring supplies of essential raw materials needed to make their motors.

Numerous supply disruptions have undoubtedly occurred throughout the industry's history, but relatively few have become long-term issues. The industrial motors market heavily relies on electric steel, which is used to manufacture the cores of the electric motors that power a wide range of industrial equipment, from manufacturing machinery to HVAC systems.

However, there has been a recent supply shortage of electric steel, which has led to difficulties in meeting the demand for electric motors and has hampered the growth of the industrial motors market. MARKET SEGMENTATION

The industrial motors market encompasses two main types of motors: AC and DC motors, both widely used across various applications. The AC motor segment is poised to exhibit a CAGR of over 6% during the forecast period, driven by the growing demand for improved motor efficiency and precision to reduce environmental impact. Elevated use of industrial machinery like elevators, conveyors, and compellers is expected to fuel the adoption of IE4 and higher-efficiency motors.

In terms of power output, the market classifies motors into IHP and FHP categories. IHP motors dominate the revenue share, finding common usage in heavy-duty applications such as large-scale manufacturing, mining, and heavy machinery. In contrast, FHP motors cater to industries like food & beverage, electrical, and mechanical machinery components.

Voltage brackets play a significant role, with low-voltage motors governed by energy efficiency legislation and accounting for the largest market share. Medium and high-voltage motors are expected to thrive due to their suitability for advanced machines and long lifespan.

Energy efficiency is a key driver for the growth of energy-efficient motors, fueled by cost savings, government funding, environmental concerns, and industrial sector adoption. However, the high cost of premium performance motors (IE4) presents a challenge.

Sales channels in the industrial motors market are categorized as direct and indirect. Direct channels, which allow consumers to purchase goods directly from vendors, are gaining popularity due to cost-saving benefits. Direct-to-OEM sales constitute the largest segment. Conversely, indirect sales involve third-party purchases through distributors or dealers.

Within the end-user segment, HVAC (Heating, Ventilation, and Air Conditioning) holds the largest market share. The HVAC industry relies on motors for various heavy-duty applications, driven by the increased use of variable frequency drives (VFDs) and the need to replace old motors with energy-efficient alternatives, fostering market growth.

For more information about this report visit

Global Industrial Motors Market Outlook Report 2023-2028:

50 Horsepower Three Phase Motor About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.