The Global Industrial Motors market is valued at USD XX . XX billion in 2016 and is expected to reach a value of USD XX . XX billion by the end of 2022 , growing at a projected CAGR of 6.89 % during the forecast period of 2017 – 2022 . Motors are electrical equipment which converts electrical energy into mechanical energy due to the interface between the magnetic fields set up in stator and rotor windings . Growing demand for energy conservation and energy-efficient appliances has led to an increased adoption of industrial motors . AC motors , which are used across numerous applications such as heating and cooling equipment will drive the market growth over the next five years on account of it being the major market segment .
The global Industrial motors market growth is being boosted by factors such as increasing electricity price , advancement in energy efficient industrial motors , improved efficiency and others . The development of the global industrial motors market depends on the growth in the industrial production and expansion .
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The industrial motors market is segmented broadly on the basis of voltage , product type , voltage range , electric source and end-users . The market is categorized into high-voltage motors , medium-voltage motors , and low-voltage motors in terms of voltage . Further , it is segmented on the basis of product type such as standard efficiency , premium efficiency , high efficiency , super premium efficiency and others .
Numerous products are available in the industrial motors market such as general purpose motors , harsh environment motors , vector motors and others . The industrial motors market is highly competitive with some of the key participants being ABB Group , Mitsubishi Electric , General Electric , Siemens AG , Rockwell Automation , Toshiba International Corporation , Emerson Electric Co and others .
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Key Deliverables in the Study : 1 . Market analysis for the global industrial motors market , with region-specific assessments and competition analysis on a global and regional scale . 2 . Market definition along with the identification of key drivers and restraints .
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