How big is the Industrial Motors Market?

The Industrial Motors Market size is expected to reach USD 21.29 billion in 2024 and grow at a CAGR of 4.77% to reach USD 28.17 billion by 2029. Read More

What is the current Industrial Motors Market size?

In 2024, the Industrial Motors Market size is expected to reach USD 21.29 billion. Read More

Who are the key players in Industrial Motors Market?

ABB Ltd., Emerson Electric Co., Nidec Industrial Solutions, Johnson Electric Holdings Limited and Siemens AG are the major companies operating in the Industrial Motors Market. Read More

Which is the fastest growing region in Industrial Motors Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Industrial Motors Market?

In 2024, the Asia Pacific accounts for the largest market share in Industrial Motors Market. Read More

What years does this Industrial Motors Market cover, and what was the market size in 2023?

In 2023, the Industrial Motors Market size was estimated at USD 20.27 billion. The report covers the Industrial Motors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Motors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Industrial Motors Market - Research, Size & Report

Industrial Motors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Industrial Motor Market Manufacturers and is Segmented by Type of Motor (Alternating Current (AC) Motors, Direct Current (DC) Motors), by Voltage (High Voltage, Medium Voltage, Low Voltage), by End-User (Oil and Gas, Power Generation, Mining and Metals, Water and Wastewater Management, Chemicals and Petrochemicals, Discrete Manufacturing), and by Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Industrial Motors Industry Overview

The industrial motor market is moving towards a fragmented stage, owing to the presence of a large number of companies, such as the ABB Group, Siemens AG, Emerson Electric Co. Inc., and Johnson Electric. Through innovation, sustainable competitive advantage can be attained, but it has become increasingly challenging for firms to differentiate themselves from market competition. Because the concentration of suppliers is high, buyers can choose among different vendors. Although the market comprises various players, a handful of them are still prominent for their high standards, excellent quality, and global reach.

In July 2023, Electrified Automation launched a new range of electric motors. The new motor architecture is designed to maximize the potential of automation and high-volume production for OEMs looking for a reliable, responsive supply chain. Furthermore, the new EA 193 Series permanent magnet electric motors will support a range of applications from industrial to two-wheel-on-road.

In June 2023, ABB developed the new generation AMI 5800 NEMA modular induction motor. Designed to offer reliability and energy efficiency in demanding applications such as pumps, fans, compressors, extruders, conveyors, and crushers, the AMI 5800 motor's power output of up to 1750 HP offers the capability of a high degree of customization and modularity to suit applications in a wide range of industries including mining, chemical oil and gas, conventional power generation, and cement and metals.