INDUSTRIAL MOTORS MARKET ANALYSIS

Industrial Motors Market, By Type of Motor (Alternating Current (AC) Motors, Direct Current (DC) Motors, and Other Types of Motors), By Voltage (High Voltage, Medium Voltage, and Low Voltage), By End User (Oil and Gas Power, Generation, Mining and Metals, Water and Wastewater Management, Chemicals and Petrochemicals, Discrete Manufacturing, and Other End users), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : Apr 2023
Code : CMI5672
Pages :164
Formats :
Excel and PDF
Industry : Industrial Automation and Machinery

Industrial Motors MarketSize and Trends

The global industrial motors market size was valued at US$ 3,430 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 3.54% from 2023 to 2030. Key factors driving the Industrial Motors market include increasing oil and gas production, technological advancements, and a growing demand for energy-efficient solutions. Increasing demand for energy-efficient motors and government initiatives to address climate change are key factors driving the Industrial Motors market.

Figure 1: Global Industrial Motors Market Share (%), By Region, 2022