Overview of the global motors and drives market in discrete industries
Technavio’s market research analyst predicts the global motors and drives market in discrete industries to grow at a CAGR of more than 9% by 2020. The rising production costs and demand for high-quality products at low prices have propelled manufacturers across various discrete industries to design automation solutions that boost productivity in plant operations. This has compelled them to implement highly efficient power transmission motor technologies. Additionally, several manufacturers are highly concerned about the motor efficiency benchmarks imposed by the US government regarding carbon emission and fuel efficiency. Many industries are replacing old electric motors with certified motors of higher operating efficiency because of these new regulations, which will boost the market for low-voltage multi-phase motors of power rating 0.75-375 kW during the forecast period.
According to the industry research report, this market is witnessing huge demand for customized motors. These motors provide special mechanical properties and systems solutions to end-users and have higher efficiency than standard motors. End-users demand custom-made motors for their tasks as a standard electric motor is insufficient in conjunction with a robust application. They are opting for more customized solutions as per their specific requirements. These motors are sophisticated in operations and have enhanced the market opportunities for low voltage motor and drives manufacturers.
Segmentation by type and analysis of the motors and drives market in discrete industries
During 2015, the motors segment dominated the motors and drives market in discrete industries and accounted for around 61% of the total market share. The majority of the segment’s revenue comes from the low voltage motors due to their increased applications in most of the discrete industries, such as HVAC, automobile, semiconductors, electronics, and mining. Recent fuel-related legislations in Europe and the Americas has prompted OEMs and end-users to use highly efficient motors, which has boosted the revenue for low-voltage motors manufacturers.
Geographical segmentation and analysis of the motors and drives market in discrete industries
APAC will continue its dominance in the market during the forecast period and is expected to occupy 44% of the overall market share by 2020. Many motor vehicles and electronic appliances manufacturers are shifting their manufacturing base to APAC, especially China and India, which is becoming a manufacturing hub of the world. This has propelled several investments in the automotive and consumer durables industries. The growing requirement for energy and fuel efficiency among industries will boost the growth prospects of the market in this region.
Competitive landscape and key vendors
This market is highly competitive and fragmented because of the presence of well-diversified international and regional providers. The major vendors have a strong market presence which has posed a tough challenge for the local vendors who are finding it difficult to compete with them in terms of quality, safety, and price. The end-users in the market are increasingly focusing toward energy efficiency as a key parameter while purchasing electric drives, which has increased the growth opportunities for the market players.
Key vendors in the market include -
Other prominent vendors in the motors and drives market in discrete industries are Allied Motion Technologies, ARC Systems, Asmo, Emerson CT, Franklin Electric, Fuji Electric, GE, Huali, KEB, Nidec, Schneider Electric, SEW Eurodrive, TECO-Westinghouse, Toshiba, and Yaskawa.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global motors and drives market in discrete industries?
What are the key market trends impacting the growth of the global motors and drives market in discrete industries?
What are the challenges to market growth?
Who are the key vendors in the global motors and drives market in discrete industries?
What are the market opportunities and threats faced by the vendors in the global motors and drives market in discrete industries?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global motors and drives market in discrete industries?
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