Global Motors and Drives Market in Process Industries 2016-2020

Overview of the global motors and drives market in process industries

Market research analysts at Technavio have predicted that the global motors and drives market in process industries will grow steadily at a moderate CAGR of around 7% by 2020. The growing demand for high-quality food products has driven the adoption of advanced refrigeration technologies in the food processing industry. These advanced refrigeration systems comprise of a complete set of automation equipment that requires high-end variable speed motors and drives to run the operation. The exponential rise in global population will subsequently increase the need for these advanced refrigeration systems which in turn will augment the demand for this market in the next four years.

As a result of the shrinking workforce and immigration control, a large number of industries are focusing on investing in factory automation practices. This involves the installation of multiple high-end motors in various applications such as conveyor belts, compressors, and fans. Automated factories will also require smart machinery that can be wirelessly controlled, remotely monitored, and are capable of diagnosing predictive maintenance, this, in turn, will have a positive impact on the growth of this market. This market study report has estimated that APAC will account for a major market share and dominate the market throughout the forecast period. Due to the availability of raw materials and cost-efficient labor, this region has emerged as a low-cost manufacturing hub for process industries, which will fuel the demand for the motors and drives market from this region.

Competitive landscape and key vendors

The market appears highly fragmented due to the presence of several large and small scale vendors. Major companies account for a considerable share of the market and have started undergoing strategic partnerships and channel partners to expand their global presence. Constant technological advancements have induced drives and electric motor manufacturers to invest heavily in R&D to design more affordable and energy-efficient motors and drives. This will result in the introduction of advanced products in the market, which will intensify vendor competition in the next four years.

The leading vendors in the market are -

• ABB
• Danfoss
• Rockwell Automation
• Siemens
• WEG

The other prominent vendors in the market are Allied Motion, ARC Systems, Asmo, Emerson CT, Franklin Electric, Fuji Electric, GE, Huali, KEB, Nidec, Schneider Electric, SEW Eurodrive, TECO-Westinghouse, Toshiba, and Yaskawa.

Segmentation by type and analysis of the motors and drives market in process industries

• Drives
• Motors

During 2015, the drives segment accounted for approximately 51% of the total market share and dominated this market. Drives are vital components in the construction of energy generation units and the increasing shift towards renewable sources of energy will augment the demand for industrial electric drives. Additionally, the adoption of VFDs (variable frequency drives) in water treatment systems and energy management sectors coupled with the estimated growth of the manufacturing, chemical processing, power generation industrial sectors will also fuel the demand for this market segment.

Segmentation by end-user and analysis of the motors and drives market in process industries

• Food and beverage
• Mining
• Oil and gas
• Power

According to this market study, the food and beverage segment will dominate the motors and drives market in process industries and will account for almost 37% of the total market share by 2020. The rise in per capita GDP in countries such as India, China, Qatar, Luxembourg, and Singapore is likely to increase the consumption of foods and beverages. This, in turn, will boost the demand for geared motors and drives used for operating ice and beverage dispensing units, food processing conveyors, and confectioner ovens.

Key questions answered in the report include

• What will the motors and drives market in process industries size and the growth rate be in 2020?
• What are the key factors driving the motors and drives market in process industries?
• What are the key motors and drives market in process industries trends impacting the growth of the market?
• What are the challenges to market growth?
• Who are the key vendors in the motors and drives market in process industries?
• What are the market opportunities and threats faced by the vendors in the motors and drives market in process 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 motors and drives market in process industries?

Technavio also offers customization on reports based on specific client requirement.

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• Global Motors and Drives Market in Discrete Industries 2016-2020
• Global Industrial Gear Motors and Drives Market 2015-2019