Asia-Pacific continues to lead the Industrial Motors Market share and growth during 2018-2025:
The APAC region is the largest market for industrial motors, with a market size of $14.99 billion in 2017. The American market is forecast to grow at a CAGR of 3.29% to reach $10.23 billion by 2023. The growth in the emerging countries is being consolidated by the mature markets such as the U.S. and Canada. The fastest growing geographical segment for the industrial motors market is the APAC region, which is projected to grow at a CAGR of 4.3% to reach revenue of $19.15 billion by 2021.
The increasing level of water pollution is likely to trigger the waste and water management measures in South East Asian countries, and also in developing countries such as China and India. The European market is projected to show a steady growth rate in the expansion of power generation sector and energy infrastructure. The North American market has attained the maturity stage and was forecast to bounce back by 2017, as per the life cycle of the industrial motors.
Selected / Sample Industrial Motors Market Analysis done in the full Report:
The Industrial Motors prices correspond to various factors, depending upon the structure and operational environment of motors. Some of the eminent influential aspects of pricing include motor positioning, phases, insulation, service factor, operating temperature, frame sizes, voltage and power ratings, energy efficiencies, frequency ratings, and several others.
This section deals with the pricing of General Purpose Low Voltage Industrial Motors that are taking into account what the eminent players are offering in the range of 575V in the Premium Efficiency Range.
The analysis has been performed for different Horse Power Ratings, considering the average selling prices (ASPs) based on speed, frame, weight, and current ratings. As the horsepower rating increases, so do the prices of motors, which will experience a surge accordingly.
The higher demand for oil from Asia due to the increasing transportation sector in China and India is projected to drive the demand and growth of Industrial Motors Market.
Excerpts on Market Growth Factors Mentioned in the Full Report:
Rising demand and investments in major end-user industries will drive the demand for Industrial Motors in this region.
The domestic demand in the APAC region is estimated to continue to drive the market due to declining oil prices and strong labor market conditions.
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Key Players of the Industrial Motors Market:
The key players in the market include ABB and Siemens. Both the manufacturers have a stronghold in the Low Voltage Industrial Motors segment. ABB’s acquisition of Baldor uplifted its market share in Industrial Motors across the globe. Industrial Motors have matured products that have led to the creation of the significant unorganized market, particularly in China.
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