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Industrial Motor Market- By Product Type [AC Motors, DC Motors], By Product Category (Permanent Magnet, Non-Permanent Magnet),By Voltage (Low Voltage, Medium Voltage, High Voltage),By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030
Industrial Motor Market Overview
The global Industrial Motor Market size is forecasted to reach $47.3 billion by 2030, growing at a CAGR of 3.8% during the forecast period from 2024-2030. Globally, increasing demand for industrial motors in the Automotive and Oil and Gas industries is set to drive the Industrial Motor Market during the forecast period 2024-2030. Increasing investments for the expansion of oil and gas production across the world owing to the rising energy demands also triggers the growth of the market. Moreover increasing production of electric vehicles has accelerated the demand for industrial motors for higher efficiency and good speed regulation during the forecast period is also boosting the growth of the market. Furthermore, rising number of government incentives to encourage use of energy efficient industrial motors for safeguarding the environment from carbon emissions is also expected to drive the market growth during the forecast period.
The industrial robot market is experiencing dynamic growth driven by several converging trends that are reshaping manufacturing and production processes globally. Technological advancements are significantly enhancing the capabilities of industrial robots, with artificial intelligence (AI), machine learning (ML), and advanced sensors improving their precision, adaptability, and efficiency. The integration of these technologies enables robots to perform complex tasks, such as predictive maintenance and quality inspection, autonomously. The rise of collaborative robots, or cobots, is transforming production lines by allowing humans and robots to work side by side safely, increasing flexibility and efficiency. Additionally, there is a growing demand for customization and modularity in robotic solutions, enabling manufacturers to quickly adapt to changing production needs and market demands. The trend towards smart factories and Industry 4.0 is driving the adoption of connected robots that communicate and coordinate seamlessly with other machines and systems, optimizing the entire production process. Moreover, the emphasis on sustainability is leading to the development of energy-efficient robots that reduce the environmental impact of manufacturing. These trends collectively are pushing the boundaries of what industrial robots can achieve, making them integral to the future of manufacturing.
Industrial Motor Market Report Coverage
The report based on: “Industrial Motor Market-Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of Industrial Motor Market Industry Outlook.
By Product Type: AC (Phase Type: Single Phase, Three Phase; Operation: Asynchronous, Synchronous); DC (Brushed (BDC), Brushless (BLDC))
By Power Rating: <1kW, >1kW<2,2kW, >2,2kW < 3,5kW, 3.5-25 kW25-100 kW, Above 100 kW
By Voltage: Low Voltage (IE1, IE2, IE3, IE4); Medium Voltage (IE1, IE2, IE3, IE4);
High Voltage (IE1, IE2, IE3, IE4)
By Applications: Oil and Gas (Upstream, Midstream, Downstream); Aerospace
(Actuation, Air and Thermal System, Aircraft Engines, Auxiliary Power Unit, Wheels and Breaking System, Others); Automotive; HVAC (Heating, Ventilating, Air Conditioning); Paper and Pulp (Feed and Conveyor Systems, Fans and Blowers, Reeling and Rolling Machines, Mixers, Others); Food and Beverage (Milling, Grinding and Mixers, Conveyor Systems, Pumping Systems, Packaging, Others); Textile (Mixing and Beating Machines, Carding Machines, Winding Machines, Washers and Pumps, Blowers, Others); Transportation (Logistics and Warehousing (Manual Cranes and Hoists, ASRS Systems, Belt Conveyors, Others);Railways (Traction, Blowers, Others)); Power Generation (Coal, Gas and Oil-Fired Plants, Nuclear Power Plants, Geothermal Power Plants, Hydro Power Plants, Wind Mills, Others); Agriculture ( Pumping Systems, Grain Handling and Conveyor System, Aeration and Conditioning, Feed Delivery Systems, Others); Chemical (Pumps, Fans, Blowers and Compressors, Centrifuges, Agitators and Mixers, Others); Industrial Machinery (Machine Tools, Assembly Line and Conveyor Systems, Others); Plastics and Packaging; Industrial Automation; Others.
By Geography: North America (US, Canada, Mexico), South America (Brazil, Argentina,Chile, Colombia & Others),Europe (Germany, France, UK, Italy, Spain, Russia, Netherlands & Others), APAC (China, Japan, South Korea, India, Australia, Indonesia, Malaysia & Others) ,RoW (Middle East & Africa)
Key Takeaways
- AC Motor dominated the global Industrial Motor market with a share of 82% in 2023 and is also anticipated to witness a significant growth during 2024-2030, owing to its use for various industrial applications such as in Appliances, Compressor drives and systems, Conveyor systems.
- Industrial Automation dominated the global Industrial Motor market with a share of 24.4% in 2023, owing to growing use of motors in collaborative robots.
- North America held the largest share of 33.9% in the global Industrial Motor market in 2023 and growing at CAGR of 3.2% during 2024-2030, owing to rising number of government incentives to encourage use of energy efficient industrial motors.
- Increasing demand for industrial motors in chemical & petrochemical industries is set to be one of the major factor that is analyzed to drive the market during the forecast period.
Industrial Motor Market Segment Analysis-By Product Type
Based on product type, AC Motor dominated the global Industrial Motor market with a share of 82% in 2023 and is also anticipated to witness a significant growth during 2024-2030, owing to its use for various industrial applications such as in Appliances, Compressor drives and systems, Conveyor systems. AC motors have been classified into induction or asynchronous and synchronous motors. Asynchronous motors held the share of 65.4% in the AC motor market in 2023 and growing at CAGR of 4.2% during 2024-2030. These motors are the major type of industrial motors used in industrial applications like used in conveyors, cranes, pumps, elevators, compressors, drilling machines, oil extracting mills and others. Asynchronous motors have lot of advantages such as less cost, easy to maintain, efficiency in partial-load operation and others. Owing to its advantages, the adoption rate is higher among industries, thus supporting the growth of the Industrial Motor Market. Such developments will positively impact the growth of the market.
Industrial Motor Market Segment Analysis-By Application
Based on Application, Oil and gas dominated the global Industrial Motor market with a share of 24.8% in 2023 and is also anticipated to witness highest growth during the forecast period 2024-2030. Industrial motors serve an extensive range of applications in industrial automation vertical including food, packaging, logistics systems, tool machines and robots, among others. Stepper, servo, ac, and dc motors are the ideal motors to meet most industrial automation requirements. In industrial automation, robotics is the major trend in recent years and coming years. Robots are used for various handling purposes for precise and better quality of production. In recent years, the need for industrial automation to mitigate labour shortages in the industrial sector has become a prime concern. In addition, COVID-19 pandemic has posed new risks for workers working in close proximity. Under these circumstances, there is an increasing demand for collaborative robots that can safely work side by side with humans at sites without safety barriers and can flexibly handle multiple tasks which in turn boost the demand for industrial motors. This will further create opportunities for the growth of the Industrial Motor market.
Industrial Motor Market Segment Analysis-By Geography
North America held the largest share of 33.9% in the global Industrial Motor market in 2023 and growing at CAGR of 3.2% during 2024-2030. The increasing adoption of industrial motors in power generation, aerospace, automotive and chemical industries is analyzed to expand Industrial Motor Market in this region. USA, Canada and Mexico are the top contributors in industrial motor market growth in this region. Moreover a rising number of government incentives to encourage use of energy efficient industrial motors for safeguarding the environment from carbon emissions is expected to drive the market growth. For instance, the U.S has planned to increase carbon-free power generation from 27% in 2020 to 35% of total by 2024, thus increasing the scope of adoption of energy efficient motors among industries. Similarly, In December 2020, Federal Electricity Commission planned to construct four nuclear reactors for power generation by 2025, thus creating opportunities for the use of energy efficient motors in nuclear power plants. Furthermore, rising investments for the expansion of chemical industry also triggers the growth of the market in this region. Such investments can increase the use of industrial motors for the need of handling toxic and aggressive acids, which can influence the market growth of Industrial Motor in the long run.
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Industrial Motor Market Drivers
Growing demand for industrial motors in the Automotive and Oil and Gas industries will positively impacts the market growth
Increasing demand for industrial motors in the Automotive and Oil and Gas industries will positively impacts the market growth. In oil & gas industry, industrial motors are used for wide range of applications such as in off shore cranes, Compressors, Gas pumps, Winches and many others, thus raising its adoptability. Additionally industrial motors plays a vital role for drilling and bringing oil and natural gas resources to the surface and other applications in upstream part of this industry. Furthermore, rising investments for the expansion of oil and gas production across the world owing to the rising energy demands also triggers the growth of the market. In December 2021, the Government of India planned to invest $2.86 billion in the upstream oil and gas production to double natural gas production to 60 bcm and drill more than 120 exploration wells by the end of 2023. These major investments tends to bring significant growth in the demand of industrial motors for Upstream Oil and Gas industry, further driving its market growth during the forecast period. Increasing production of electric vehicles has accelerated the demand for industrial motors during the forecast period. The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. Increasing use of three phase induction motors in electric vehicles because of high efficiency and good speed regulation and absence is also anticipated to drive the growth of Industrial Motor Market. Additionally increasing investments in production electric vehicles will increase the use of motors, thus contributing to the growth of the market. In 2021, Ford Motor announced to invest in production of electric vehicles to $30 billion by 2025, up from a previous spend of $22 billion by 2023. Such investments can increase the use of industrial motors for the need of good speed regulation, which can influence the market growth of Industrial Motor in the long run.
Labor Shortages and Cost Reduction
A major driver in the industrial robot market is the increasing labor shortages and the need to reduce operational costs. As many industries face challenges in finding skilled labor, particularly in regions with aging populations, industrial robots provide a reliable solution to maintain productivity levels. Robots can perform repetitive and physically demanding tasks with high precision, reducing the reliance on human labor and minimizing the risk of human error. This shift not only addresses the issue of labor shortages but also significantly lowers production costs by enhancing efficiency and reducing the need for rework. The ability of robots to work continuously without breaks further contributes to higher productivity and cost savings, making them an attractive investment for manufacturers looking to optimize their operations in the face of labor constraints.
Industrial Motor Market Challenges
High cost of raw materials to manufacture industrial motors can hamper the market growth.
High cost of raw materials to manufacture industrial motors can act as a major challenge restraining the growth of Industrial Motor Market. The cost of raw material such as metals which includes steel, aluminium and insulation materials are quite expensive. Moreover, these industrial motors consume more electricity which results into rise of cost per unit. Furthermore, availability of low quality industrial motors is another factor that can hamper the market growth. Leading industrial motor manufacturing companies are facing intense competition from local motor manufacturers supplying inexpensive and low-quality AC and DC Motors to tap local markets, thus competing strongly with the global suppliers in the respective markets. Owing to the above mentioned factors, use of energy efficient industrial motor will be significantly impacted, thus hampering its market growth.
Industrial Motor Market Landscape
Partnership, Acquisitions, Collaboration, technology launches and R&D activities are key strategies adopted by players in the Industrial Motor Market. The Industrial Motor Market top 20 companies include:
- ABB Ltd
- Siemens AG
- Nidec Corporation
- Brook Crompton UK LIMITED
- WEG S.A.
- Emerson Electric Co
- Rockwell Automation Inc
- TECO Electric & Machinery Co., Ltd
- Danfoss
- Toshiba Corporation
- Regal Rexnord Corporation
- Parker-Hannifin Corporation
- Fuji Electric Co., Ltd
- Eaton Corporation plc
- General Electric
- FANUC CORPORATION
- AMETEK, Inc
- Allied Motion Technologies Inc
- Hitachi, Ltd
- Bosch Rexroth AG
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1.1 Definitions and Scope
2. Industrial Motor Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by Product type
2.3 Key trends by End User
2.4 Market share
2.5 Key trends by Geography
3. Industrial Motor Market– Market Landscape
3.1 Comparative Analysis
3.1.1 Product Benchmarking-Top 4 Companies
3.1.2 Top 4 Financial Analysis
3.1.3 Patent Analysis
3.1.4 Market Share
3.1.5 Pricing Analysis
4. Industrial Motor Market - Market Forces
4.1 Market Drivers
4.2 Market Constraints/Challenges
4.3 Porters five force model
4.3.1 Bargaining power of suppliers
4.3.2 Bargaining powers of customers
4.3.3 Threat of new entrants
4.3.4 Threat of substitutes
4.3.5 Rivalry among existing players
5. Industrial Motor Market – By Strategic Analysis (Market Size -$Million/Billion)
5.1 Value Chain Analysis
5.2 Opportunities Analysis
5.3 Market Life Cycle Analysis
6. Industrial Motor Market – Startup companies Scenario Premium
6.1 Top 10 startup company Analysis by
6.1.1 Investment
6.1.2 Revenue
6.1.3 Market Shares
6.1.4 Market Size and Application Analysis
6.1.5 Venture Capital and Funding Scenario
7. Industrial Motor Market – Industry Market Entry Scenario Premium
7.1 Regulatory Framework Overview
7.2 New Business and Ease of Doing business index
7.3 Case studies of successful ventures
7.4 Customer Analysis – Top 4 companies
8. Industrial Motor Market- By Product Type
8.1 AC
8.1.1 By Phase
8.1.1.1 Single Phase
8.1.1.2 Three Phase
8.1.2 By Operation
8.1.2.1 Asynchronous
8.1.2.2 Synchronous
8.2 DC
8.2.1 Brushed (BDC)
8.2.2 Brushless (BLDC))
9. Industrial Motor Market- By Power Rating
9.1 <1kW
9.2 >1kW<2,2kW
9.3 >2,2kW< 3,5kW
9.4 3.5-25 kW
9.5 25-100 kW
9.6 Above 100 kW
10. Industrial Motor Market - By Voltage
10.1 Low Voltage
10.1.1 IE1
10.1.2 IE2
10.1.3 IE3
10.1.4 IE4
10.2 Medium Voltage
10.2.1 IE1
10.2.2 IE2
10.2.3 IE3
10.2.4 IE4
10.3 High Voltage
10.3.1 IE1
10.3.2 IE2
10.3.3 IE3
10.3.4 IE4
11. Industrial Motor Market - By Applications
11.1 Oil & Gas
11.1.1 Upstream
11.1.2 Midstream
11.1.3 Downstream
11.2 Aerospace
11.2.1 Actuation
11.2.2 Air and Thermal System
11.2.3 Aircraft Engines
11.3 Automotive
11.4 HVAC
11.4.1 Heating
11.4.2 Ventilating
11.4.3 Air Conditioning
11.5 Paper and Pulp
11.5.1 Feed and Conveyor Systems
11.5.2 Fans and Blowers
11.5.3 Reeling and Rolling Machines
11.5.4 Mixers
11.5.5 Others
11.6 Food and Beverage
11.6.1 Milling
11.6.2 Grinding and Mixers
11.6.3 Conveyor Systems
11.6.4 Pumping Systems
11.6.5 Packaging
11.6.6 Others
11.7 Textile
11.7.1 Mixing and Beating Machines
11.7.2 Carding Machines
11.7.3 Winding Machines
11.7.4 Washers and Pumps
11.7.5 Blowers
11.7.6 Others
11.8 Transportation
11.8.1 Logistics and Warehousing
11.8.1.1 Manual Cranes and Hoists
11.8.1.2 ASRS Systems
11.8.1.3 Belt Conveyors
11.8.1.4 Others
11.8.2 Railways
11.8.2.1 Traction
11.8.2.2 Blowers
11.8.2.3 Others
11.9 Power Generation
11.9.1 Coal, Gas and Oil-Fired Plants
11.9.2 Nuclear Power Plants
11.9.3 Geothermal Power Plants
11.9.4 Hydro Power Plants
11.9.5 Wind Mills
11.9.6 Others
11.10 Agriculture
11.10.1 Pumping Systems
11.10.2 Grain Handling and Conveyor System
11.10.3 Aeration and Conditioning
11.10.4 Feed Delivery Systems
11.10.5 Others
11.11 Chemical
11.11.1 Pumps
11.11.2 Fans
11.11.3 Blowers and Compressors
11.11.4 Centrifuges
11.11.5 Agitators and Mixers
11.11.6 Others
11.12 Industrial Machinery
11.12.1 Machine Tools
11.12.2 Assembly Line and Conveyor Systems,
11.12.3 Others
11.13 Plastics and Packaging
11.14 Industrial Automation
11.15 Others
12. Suppliers Analysis (Market information will be given for each Company with various End-User Vertical, By Value ($Mn) and Volume (Thousand Units)
12.1 ABB
12.2 Bosch
12.3 Delphi
12.4 Fanuc
12.5 Maxcon
12.6 Nidec
12.7 Omron
*Note: 20 companies information will be provided for above supplier analysis
13. Spend Analysis by Consumers (Market information will be given for each Company with various End-User Vertical, By Value ($Mn) and Volume (Thousand Units)
13.1 Audi
13.2 Tesla
13.3 GE
13.4 Fanuc
13.5 Pratt & Whitney
13.6 Rolls Royce
13.7 Omron
*Note: 15 companies information will be provided for above spend analysis by consumers
14. Industrial Motors Bill of Material (BOM) component breakdown analysis (Analysis will be given for each type of AC/DC motor with their sub-segments
14.1 Bearing
14.2 Connector
14.3 Housing
14.4 Insulation
14.5 Magnets
14.6 Retainer
14.7 Rotor Fe
14.8 Rotor Wire
14.9 Shaft
14.10 Stator Fe
14.11 Stator Wire
14.12 Wire Harness
14.13 Others ( Will be added in the project execution stage)
15. Industrial Motors Market - By Geography (Market Size -$Million/ Billion)
15.1 North America
15.1.1 US
15.1.2 Canada
15.1.3 Mexico
15.2 South America
15.2.1 Brazil
15.2.2 Argentina
15.2.3 Chile
15.2.4 Colombia
15.2.5 Others
15.3 Europe
15.3.1 UK
15.3.2 Italy
15.3.3 France
15.3.4 Germany
15.3.5 Spain
15.3.6 Russia
15.3.7 Netherland
15.3.8 Others/ Rest of Europe
15.4 Asia Pacific ( APAC)
15.4.1 China
15.4.2 South Korea
15.4.3 India
15.4.4 Japan
15.4.5 Australia
15.4.6 Indonesia
15.4.7 Malaysia
15.4.8 Others
15.5 ROW
15.5.1 Middle East
15.5.2 Africa
16. Industrial Motor Market - Market Entropy
17. Industrial Motor Market – Industry / Segment Competition landscape Premium
17.1 Market Share Analysis
17.2 Market Share by Country- Top companies
17.3 Market Share by region – Top 10 companies
17.4 Market share by type of Application- Top 10 Companies
17.5 Market share by type of Product- Top 10 companies
17.6 Market share at global level- Top 10 Companies
17.7 Best Practices for Companies
18. Industrial Motor Market – Key Company List by Country Premium
19. Industrial Motor Market - Company Analysis
19.1 ABB Ltd
19.2 Siemens AG
19.3 Nidec Corporation
19.4 Brook Crompton UK LIMITED
19.5 WEG S.A.
19.6 Emerson Electric Co
19.7 Rockwell Automation Inc
19.8 TECO Electric & Machinery Co., Ltd
19.9 Danfoss
19.10 Toshiba Corporation
19.11 Regal Rexnord Corporation
19.12 Parker-Hannifin Corporation
19.13 Fuji Electric Co., Ltd
19.14 Eaton Corporation plc
19.15 General Electric
19.16 FANUC CORPORATION
19.17 AMETEK, Inc
19.18 Allied Motion Technologies Inc
19.19 Hitachi, Ltd
19.20 Bosch Rexroth AG
The Industrial Motors Market is projected to grow at 4.2% CAGR during the forecast period 2023-2030.
Global Industrial Motors Market size is estimated to be $24.46 billion in 2023 and is projected to reach $32.72 billion by 2030
The leading players in the Industrial Motor Market are ABB Ltd, Bosch Electric, Nidec Corporation, Regal Rexnord, Franklin Electric Company Inc. and others.
Rising industrialization, increased adoption of energy-efficient motors, technological advancements in Industry 4.0, are some of the major Industrial Motor Market trends in the industry which will create growth opportunities for the market during the forecast period.
Growing demand for industrial motors in the Automotive and Oil and Gas industries, Growth of Chemicals & Petrochemicals industries are the driving factors of the market.