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Industrial Motors Market: Overview

Industrial motors market has made notable strides in relation to design advancements and functionality. These strides have led to reduction of operation cost for end-use industries. More importantly, the launch of a variety of industrial motors has allowed these industries to garner energy savings. There is rapid demand for DC motors in applications for attaining high accuracy and speed. Substantial application of technologically advanced energy-efficient motors in wide spectrum of industries has been adding growth to the industrial motors market.

Some of the key application areas where motors technology find use in the industrial motors market are compressors, pumps and fans, conveyors, crushers, and extruders. Major technology types are DC brushed motors, DC brushless motors, stepper motor, and traction motors. Among the various end-use verticals the segment of commercial HVAC has made rapid strides. Some of the other verticals in the industrial motors market are F&B manufacturing, mining, and utilities. 

Industrial Motors Market: Key Trends

The industrial motors market has attracted revenues on the back of the growing popularity of electrical drives in wide range of industrial applications. Most prominently, manufacturers have been able to make sizable profits from sales of IE2 industrial motors, due to high reliability and accuracy. There has been rise in demand for hydraulics, mixers, pumps, gears, and HVAC in industrial environments. A great deal of the demand impetus is on the back of the increasing trend of mechanization in industrial processes. Further, end-use industries have been attracted to new launches in order to comply with the latest energy regulations.

The demand for energy-efficient pumps and fans that are used in industrial processes has bolstered the revenue potential of the industrial motors market. Moreover, the rising demand for DC motors in large-scale applications is a favorable trend. A large portion of the overall demand in the industrial motors market comes from the uptake of IE2 low voltage motors

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Industrial Motors Market: Competitive Analysis and Key Developments

Focus of meeting the recent energy regulations has also nudged manufacturers of industrial motors lean on constant technological advancements. The traction of DC brushless motors among end users has paved way to a huge scope of innovation in the industrial motors market. Though simple designs largely dominate, prominent players eye sizable revenue streams by unveiling advanced designs that are a confluence of functionality and energy savings. Some of the other characteristics that are being targeted are reliability, speed control mechanism, and ruggedness. They are making strategic moves to this end in order to gain competitive gains. Rising electricity cost has propelled industrial motors manufacturers new avenues.

Numerous industrial manufacturing companies are leaning on innovations in commercial HVAC. For instance, several of them are unveiling motors that claim to offer lower energy losses by as much as 50%. Leaning manufacturers of automated electrical drives are targeting smart industrial motors in commercial HVAC applications. Some of the well-entrenched players in the industrial motors market are ABB Limited, Siemens Aktiengesellschaft, WEG Industries, TECO Electric & Machinery Co., Ltd., Toshiba Corporation, Hyosung Corporation, Nidec Corporation, Regal Beloit Corporation, CG Power and Industrial Solutions Limited, and Shandong Huali Electric Motor Group Co. Ltd.

Industrial Motors Market: Regional Assessment

Some of the key regions in the industrial motors market are North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Of these, Asia Pacific has been prominent lucrative regional market for some of the top industrial manufacturing companies. They are witnessed rapidly rising revenue streams in emerging economies which have in recent decades seen rapidly growing demand for technologically advanced industrial motors in heavy industries. Further, Latin America has been noticeable rise in opportunities from the demand for commercial HVAC.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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