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The inverter duty motor market share is expected to increase by USD 2.31 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.33%.
This inverter duty motor market research will help companies evaluate their business approaches. Furthermore, this report extensively covers inverter duty motor market segmentation by application (pumps, fans, conveyors, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The inverter duty motor market report also offers information on several market vendors, including ABB Ltd., Adlee Powertronic Co.Ltd., Bison Gear And Engineering Corp., Bodine Electric Co., FUKUTA Elec. and Mach. Co. Ltd., Havells India Ltd., Megha Roto-Tech Pvt. Ltd, Nidec Corp., Nord Gear Ltd., North American Electric Inc., Regal Rexnord Corp., Rockwell Automation Inc., Siemens AG, TECO Electric and Machinery Co. Ltd., and WEG SA among others.
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The growing need for energy-efficient equipment is notably driving the inverter duty motor market growth, although factors such as the high cost of installation may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the inverter duty motor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Inverter Duty Motor Market Driver
The growing need for energy-efficient equipment is one of the key drivers supporting the inverter duty motor market growth. The governments in different countries are issuing clear directives for utility companies and industrial operators to implement power efficiency. Therefore, the use of energy-efficient devices has increased in the industrial sectors. Regulations on industrial energy consumption have compelled industrial operators to adopt energy-efficient equipment. This would help the operators in fulfilling the energy efficiency standards and mandates. For instance, Article 8 of the EU Energy Efficiency Directive 2012/27/EU (EU EED), which was adapted into the national legislation in all the EU member states, requires all large enterprises to comply with the energy audit obligations. In addition, the ISO 50001 standard ensures support to organizations across sectors to reduce power consumption by adopting energy-efficient equipment and support systems. Thus, this will propel the demand for the global inverter duty motor market during the forecast period.
Key Inverter Duty Motor Market Trend
The growing market of variable frequency drives is another factor supporting the inverter duty motor market growth. VFDs can facilitate superior speed control, even with variable loads of motors. Moreover, it also helps in saving energy in applications where the motor does not need to run continuously at full load. Further, VFDs have built-in soft-start capabilities to limit inrush currents. As the inverter duty motor is controlled by it, there is a less frequent cause of motor failure, i.e., the electrical current that goes through the bearing. The only solution to avoid this failure is all depends on pump and motor installation because the failure of pump bearing can be due to resonance, improper greasing, etc., which will propel the demand in the global inverter duty motor market during the forecast period.
Key Inverter Duty Motor Market Challenge
The high cost of installation is one of the factors hindering the inverter duty motor market growth. Major issues such as overvoltage and under voltage with respect to variable frequency drives while operating lead to an inappropriate power supply. These drives require a proper power supply to work efficiently. This is because the control panels in them can vary the frequency only when it receives a fixed voltage. To resolve this issue, the drives are integrated with harmonic mitigation devices. However, such devices increase the size and overall cost of the drives. In addition, cooling facilities are required to regulate the heat and improve the performance of the drives, leading to increased costs. The other factors that increase the cost of variable frequency drives include customized requirements and the rising horsepower capacity of the drives. Such an increase in cost will limit the market growth during the forecast period.
This inverter duty motor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global inverter duty motor market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the inverter duty motor market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the inverter duty motor market encompasses successful business strategies deployed by the key vendors. The inverter duty motor market is fragmented and the vendors are deploying growth strategies such as quality, durability, and technological innovations to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The inverter duty motor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the inverter duty motor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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35% of the market's growth will originate from North America during the forecast period. The US is the key market for inverter duty motors in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.
The initiation of many new chemical and petrochemical projects will facilitate the inverter duty motor market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 outbreak negatively impacted the growth of the regional variable frequency drives the market. However, the reopening of stores, malls, and other public places has increased the demand for power generation. Such factors will positively impact the regional inverter during the forecast period.
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The inverter duty motor market share growth by the pumps segment will be significant during the forecast period. The significant increase in the deployment of inverter duty motors for pump applications in the chemical manufacturing, metal and mining, and food and beverage industries, will drive the market growth through this segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the inverter duty motor market size and actionable market insights on post COVID-19 impact on each segment.
Severe duty motors market - The market share is expected to increase to USD 602.59 million from 2021 to 2026, at a CAGR of 4.3%.
Inverter market - the market size has the potential to grow by USD 20.22 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 4.89%.
Inverter Duty Motor Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.33% |
Market growth 2022-2026 |
$ 2.31 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.1 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., Adlee Powertronic Co.Ltd., Bison Gear And Engineering Corp., Bodine Electric Co., FUKUTA Elec. and Mach. Co. Ltd., Havells India Ltd., Megha Roto-Tech Pvt. Ltd, Nidec Corp., Nord Gear Ltd., North American Electric Inc., Regal Rexnord Corp., Rockwell Automation Inc., Siemens AG, TECO Electric and Machinery Co. Ltd., and WEG SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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