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Increasing Demand For Industrial Motors in The Automotive And Oil and Gas Industries Will Positively Impact The Industrial Motors Market Growth.
HYDERABAD, TELANGANA, INDIA, September 29, 2022 /EINPresswire.com/ — IndustryARC, in its newest report, predicts that The Global Industrial Motor Market dimension is anticipated to succeed in $42.19 billion by 2027, rising at a CAGR of 4.20% in the course of the forecast interval from 2022 to 2027. Globally, rising demand for industrial motors within the Automotive and Oil & Gas industries is ready to drive the Industrial Motor Market in the course of the forecast interval. Increasing investments for the enlargement of oil and gasoline manufacturing internationally owing to the rising power calls for additionally triggers the expansion of the market. The report gives an entire evaluation of the market, its main segments, development components, traits, drivers and challengers, key gamers and extra.
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https://www.industryarc.com/Report/7383/industrial-motors-market-report.html
Key takeaways :
1. AC Motor dominated the worldwide Industrial Motor market with a share of 84% in 2021 and can also be anticipated to witness a big development throughout 2022-2027, owing to its use for varied industrial functions reminiscent of in Appliances, Compressor drives and methods, Conveyor methods.
2. Industrial Automation dominated the worldwide Industrial Motor market with a share of 24.61% in 2021, owing to rising use of motors in collaborative robots.
3. North America held the most important share of 30.65% within the international Industrial Motor market in 2021 and rising at CAGR of 3.64% throughout 2022-2027, owing to rising quantity of authorities incentives to encourage use of power environment friendly industrial motors.
4. Increasing demand for industrial motors in chemical & petrochemical industries is ready to be one of the most important issue that’s analyzed to drive the market in the course of the forecast interval.
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Segmental Analysis :
1. Based on product kind, AC Motor dominated the worldwide Industrial Motor market with a share of 84% in 2021 and can also be anticipated to witness a big development throughout 2022-2027, owing to its use for varied industrial functions reminiscent of in Appliances, Compressor drives and methods, Conveyor methods. AC motors have been labeled into induction or asynchronous and synchronous motors.
2. Based on Application, Oil and gasoline dominated the worldwide Industrial Motor market with a share of 24.61% in 2021 and can also be anticipated to witness highest development in the course of the forecast interval 2022-2027. Industrial motors serve an in depth vary of functions in industrial automation vertical together with meals, packaging, logistics methods, instrument machines and robots, amongst others.
3. North America held the most important share of 30.65% within the international Industrial Motor market in 2020 and rising at CAGR of 3.64% throughout 2022-2027. The rising adoption of industrial motors in energy technology, aerospace, automotive and chemical industries is analyzed to broaden Industrial Motor Market on this area.
Competitive Landscape :
The prime 5 gamers within the Industrial Motor Industry are –
1. ABB Ltd
2. Siemens AG
3. Nidec Corporation
4.Brook Crompton UK LIMITED
5. WEG S.A.
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https://www.industryarc.com/reports/request-quote?id=7383
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Related Reports :
A. Electric Motor Market
https://www.industryarc.com/Report/19763/electric-motor-market.html
B. Induction Motor Market
https://www.industryarc.com/Report/15417/induction-motor-market.html
Venkat Reddy
IndustryARC
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