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From: David Murphy <david.murphy@researchandmarkets.org>
Date: Mon, 24 Jul 2023 13:28:41 +0100
Subject: Industrial Motors Market - Growth, Trends, COVID-19 Impact, and
Forecasts (2023-2028)
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The Industrial Motors Market is expected to register a CAGR of 2.62% o=
ver the forecast period. Industrial motors have numerous applications =
in oil and gas, power generation, mining and metal, water and wastewat=
er management, and manufacturing industries. AC motors are known for b=
eing able to cope with and deliver high speeds, making them suitable f=
or various demanding industry applications.
Key Highlights
- Motors are the significant driving force of industrial production. T=
he new and advanced approaches for designing and developing industrial=
motors include factors like alignment, motor monitoring, connections,=
testing, and saving costs and time while improving safety and securit=
y. Energy-saving motors and intelligent drives also boost efficiency a=
nd performance while facilitating troubleshooting.
- The growing focus on industry 4.0 primarily drives the market for in=
dustrial motors. Industrial automation drives the manufacturing sector=
toward more productivity in several regions, expecting to show strong=
demand. According to Industrial Energy Accelerator, nearly 70% of all=
electrical energy consumed by several industries is used by the milli=
ons of electrical motors installed globally. Motors are critical to al=
most every industry and responsible for driving core industrial proces=
ses and auxiliary systems such as compressed air generation, ventilati=
on, and water pumping.
- AC motors are generally more reliable with low maintenance requireme=
nts, and the bearing life frequently limits the service life of AC mot=
ors. Since the motors do not need commutators, brushes, or slip rings,=
they don't have parts that wear out regularly. This factor makes the =
motors ideal for applications that are not easily accessible, continuo=
usly available to operate, or will work without supervision for long p=
eriods.
- The motors' size depends on the voltage and electric supply at the s=
ite of applications. Therefore, the weight and size are needed to be m=
aintained. The critical trend in the market is the development of high=
power-to-weight ratio industrial motors. Several manufacturers are de=
veloping electric motors with a high power-to-weight ratio, as large e=
lectric motors have portability and high energy consumption issues.
- COVID-19 has negatively impacted market growth due to stoppage in di=
screte manufacturing industry operations. For instance, according to t=
he Monthly Survey of Manufacturing by the Government of Canada, manufa=
cturing sales fell 2.1% to USD 57.1 billion recently on lower sales in=
11 of 21 industries. Technological advancement is a crucial trend gai=
ning popularity in the industrial motors market post-pandemic. While i=
ndustrial motors have been in use for many years, there is still room =
for improvement in technology and energy efficiency.
Industrial Motors Market Trends
- The industry standards for low-voltage motors vary broadly. Several =
manufacturers have different motor classifications that are considered=
low-voltage motors. According to the IEC 600038 standard (Internation=
al Electro-technical Commission=E2=80=99s), any motor with a rating up=
to 1000 volts is regarded as a low voltage (LV).
- Compared to other motors in the market, low-voltage motors have a wi=
de range of applications across multiple industries. Some of the prima=
ry applications of low-voltage motors are in the mid-stream and downst=
ream oil and gas, water, wastewater, food, and beverage industries, et=
c.
- Recently, the EU (European Commission) Ecodesign Regulation addresse=
d this for low-voltage motors by enforcing and establishing (IE) Inter=
national Efficiency classes defined by the IEC (International Electrot=
echnical Commission). It set IE3 as the minimum standard and IE5 as a =
unique ultra-premium rating, including motors with variable-speed driv=
es.
- Additionally, over the forecast period, rising oil prices are expect=
ed to create a strong rebound in demand for LV motors from the oil and=
gas industry. The companies are now taking up several large projects =
previously delayed due to higher operational costs and pending equipme=
nt purchases.
- To expand the product offering into international markets, General E=
lectric sold its mid, low-voltage motor business, known as SIM, to Wol=
ong Electric. The Wolong industry signed a 10-year trademark license a=
greement with General Electric to sell Mexico-manufactured products, M=
onterrey, under General Electric (GE) Industrial Motors, a Wolong busi=
ness, to the United States.
Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Find out more:
https://www.researchandmarkets.com/reports/4591864/industrial-motors-m=
arket-growth-trends-covid?utm_source=3DMC&utm_medium=3DEmail&utm_code=3D=
mhnnhj5dz&utm_ss=3D10&utm_campaign=3D1870493+-+Industrial+Motors+Marke=
t+-+Growth%2c+Trends%2c+COVID-19+Impact%2c+and+Forecasts+(2023-2028)&u=
tm_exec=3Drore169mtd
If you require any assistance, please do not hesitate to contact me.
Thank you for your consideration.
Best Regards,
David Murphy
Senior Manager
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<h1 style=3D"w=
ord-break: normal; text-align: left; line-height: 24px; font-size: 20p=
x; margin-bottom: 10px;color: #256B9F;" align=3D"left">Industrial Moto=
rs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)=
</h1> The Industrial Motors Market is expected to register a CAGR of 2=
.62% over the forecast period. Industrial motors have numerous applica=
tions in oil and gas, power generation, mining and metal, water and wa=
stewater management, and manufacturing industries. AC motors are known=
for being able to cope with and deliver high speeds, making them suit=
able for various demanding industry applications.<br /><br />Key Highl=
ights<br /><br />- Motors are the significant driving force of industr=
ial production. The new and advanced approaches for designing and deve=
loping industrial motors include factors like alignment, motor monitor=
ing, connections, testing, and saving costs and time while improving s=
afety and security. Energy-saving motors and intelligent drives also b=
oost efficiency and performance while facilitating troubleshooting.<br=
/><br />- The growing focus on industry 4.0 primarily drives the mark=
et for industrial motors. Industrial automation drives the manufacturi=
ng sector toward more productivity in several regions, expecting to sh=
ow strong demand. According to Industrial Energy Accelerator, nearly 7=
0% of all electrical energy consumed by several industries is used by =
the millions of electrical motors installed globally. Motors are criti=
cal to almost every industry and responsible for driving core industri=
al processes and auxiliary systems such as compressed air generation, =
ventilation, and water pumping.<br /><br />- AC motors are generally m=
ore reliable with low maintenance requirements, and the bearing life f=
requently limits the service life of AC motors. Since the motors do no=
t need commutators, brushes, or slip rings, they don't have parts that=
wear out regularly. This factor makes the motors ideal for applicatio=
ns that are not easily accessible, continuously available to operate, =
or will work without supervision for long periods.<br /><br />- The mo=
tors' size depends on the voltage and electric supply at the site of a=
pplications. Therefore, the weight and size are needed to be maintaine=
d. The critical trend in the market is the development of high power-t=
o-weight ratio industrial motors. Several manufacturers are developing=
electric motors with a high power-to-weight ratio, as large electric =
motors have portability and high energy consumption issues.<br /><br /=
>- COVID-19 has negatively impacted market growth due to stoppage in d=
iscrete manufacturing industry operations. For instance, according to =
the Monthly Survey of Manufacturing by the Government of Canada, manuf=
acturing sales fell 2.1% to USD 57.1 billion recently on lower sales i=
n 11 of 21 industries. Technological advancement is a crucial trend ga=
ining popularity in the industrial motors market post-pandemic. While =
industrial motors have been in use for many years, there is still room=
for improvement in technology and energy efficiency.<br /><br />Indus=
trial Motors Market Trends<br /><br />- The industry standards for low=
-voltage motors vary broadly. Several manufacturers have different mot=
or classifications that are considered low-voltage motors. According t=
o the IEC 600038 standard (International Electro-technical Commission=E2=
=80=99s), any motor with a rating up to 1000 volts is regarded as a lo=
w voltage (LV).<br /><br />- Compared to other motors in the market, l=
ow-voltage motors have a wide range of applications across multiple in=
dustries. Some of the primary applications of low-voltage motors are i=
n the mid-stream and downstream oil and gas, water, wastewater, food, =
and beverage industries, etc.<br /><br />- Recently, the EU (European =
Commission) Ecodesign Regulation addressed this for low-voltage motors=
by enforcing and establishing (IE) International Efficiency classes d=
efined by the IEC (International Electrotechnical Commission). It set =
IE3 as the minimum standard and IE5 as a unique ultra-premium rating, =
including motors with variable-speed drives.<br /><br />- Additionally=
, over the forecast period, rising oil prices are expected to create a=
strong rebound in demand for LV motors from the oil and gas industry.=
The companies are now taking up several large projects previously del=
ayed due to higher operational costs and pending equipment purchases.<=
br /><br />- To expand the product offering into international markets=
, General Electric sold its mid, low-voltage motor business, known as =
SIM, to Wolong Electric. The Wolong industry signed a 10-year trademar=
k license agreement with General Electric to sell Mexico-manufactured =
products, Monterrey, under General Electric (GE) Industrial Motors, a =
Wolong business, to the United States.<br /><br />Additional benefits =
of purchasing the report:<br />- The market estimate (ME) sheet in Exc=
el format<br />- 3 months of analyst support<br /><br />Find out more:=
<br />
<a href=3D"https://www.researchandmarkets.com/reports/4591864/industri=
al-motors-market-growth-trends-covid?utm_source=3DMC&utm_medium=3DEmai=
l&utm_code=3Dmhnnhj5dz&utm_ss=3D10&utm_campaign=3D1870493+-+Industrial=
+Motors+Market+-+Growth%2c+Trends%2c+COVID-19+Impact%2c+and+Forecasts+=
(2023-2028)&utm_exec=3Drore169mtd">Industrial Motors Market - Growth, =
Trends, COVID-19 Impact, and Forecasts (2023-2028)</a><br /><br />It m=
ay be possible to have this report customised. If you require any assi=
stance or would like to discuss this further, please don=E2=80=99t hes=
itate to contact me.<br /><br />Thank you for your consideration.<br /=
><br />Best Regards,<br /><br />David Murphy<br />Senior Manager </td>
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