#Industrial Motors Market Share

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Industrial Motor Market - Forecast(2022 - 2027)

Industrial Motor Market Overview

The global Industrial Motor Market size is expected to reach $42.19 billion by 2027, growing at a CAGR of 4.20% during the forecast period from 2022 to 2027. Globally, increasing demand for industrial motors in the Automotive and Oil & Gas industries is set to drive the Industrial Motor Market during the forecast period. Increasing investments for the expansion of oil and gas production across the world owing to the rising energy demands also triggers the growth of the market. Moreover, increasing production ofelectric vehicleshas accelerated the demand for industrial motors for higher efficiency and good speed regulation during the forecast period is also boosting the growth of the market. Furthermore, rising number of government incentives to encourage use of energy efficient industrial motors for safeguarding the environment from carbon emissions is also expected to drive the market growth during the forecast period.

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Industrial Motor Market Report Coverage

The report based on: “Industrial Motor Market-Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of Industrial Motor Market Industry Outlook. By Product Type: AC (Phase Type: Single Phase, Three Phase; Operation: Asynchronous, Synchronous); DC (Brushed (BDC), Brushless (BLDC)) By Power Rating: <1kW, >1kW<2,2kW, >2,2kW < 3,5kW, 3.5-25 kW25-100 kW, Above 100 kW By Voltage: Low Voltage (IE1, IE2, IE3, IE4); Medium Voltage (IE1, IE2, IE3, IE4); High Voltage (IE1, IE2, IE3, IE4) By Applications: Oil and Gas (Upstream, Midstream, Downstream); Aerospace (Actuation, Air and Thermal System, Aircraft Engines, Auxiliary Power Unit, Wheels and Breaking System, Others); Automotive; HVAC (Heating, Ventilating, Air Conditioning); Paper and Pulp (Feed and Conveyor Systems, Fans and Blowers, Reeling and Rolling Machines, Mixers, Others); Food and Beverage (Milling, Grinding and Mixers, Conveyor Systems, Pumping Systems, Packaging, Others); Textile (Mixing and Beating Machines, Carding Machines, Winding Machines, Washers and Pumps, Blowers, Others); Transportation (Logistics and Warehousing (Manual Cranes and Hoists, ASRS Systems, Belt Conveyors, Others);Railways (Traction, Blowers, Others)); Power Generation (Coal, Gas and Oil-Fired Plants, Nuclear Power Plants, Geothermal Power Plants, Hydro Power Plants, Wind Mills, Others); Agriculture ( Pumping Systems, Grain Handling and Conveyor System, Aeration and Conditioning, Feed Delivery Systems, Others); Chemical (Pumps, Fans, Blowers and Compressors, Centrifuges, Agitators and Mixers, Others); Industrial Machinery (Machine Tools, Assembly Line and Conveyor Systems, Others); Plastics and Packaging; Industrial Automation; Others. By Geography: North America (US, Canada, Mexico), South America (Brazil, Argentina,Chile, Colombia & Others),Europe (Germany, France, UK, Italy, Spain, Russia, Netherlands & Others), APAC (China, Japan, South Korea, India, Australia, Indonesia, Malaysia & Others) ,RoW (Middle East & Africa)

Key Takeaways

AC Motor dominated the global Industrial Motor market with a share of 84% in 2021 and is also anticipated to witness a significant growth during 2022-2027, owing to its use for various industrial applications such as in Appliances, Compressor drives and systems, Conveyor systems. Industrial Automation dominated the global Industrial Motor market with a share of 24.61% in 2021, owing to growing use of motors in collaborative robots. North America held the largest share of 30.65% in the global Industrial Motor market in 2021 and growing at CAGR of 3.64% during 2022-2027, owing to rising number of government incentives to encourage use of energy efficient industrial motors. Increasing demand for industrial motors in chemical & petrochemical industries is set to be one of the major factor that is analyzed to drive the market during the forecast period.

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Industrial Motor Market Segment Analysis-By Product Type

Based on product type, AC Motor dominated the global Industrial Motor market with a share of 84% in 2021 and is also anticipated to witness a significant growth during 2022-2027, owing to its use for various industrial applications such as in Appliances, Compressor drives and systems, Conveyor systems. AC motors have been classified into induction or asynchronous and synchronous motors. Asynchronous motors held the share of 65.45% in the AC motor market in 2021 and growing at CAGR of 4.64% during 2022-2027. These motors are the major type of industrial motors used in industrial applications like used in conveyors, cranes, pumps, elevators, compressors, drilling machines, oil extracting mills and others. Asynchronous motors have lot of advantages such as less cost, easy to maintain, efficiency in partial-load operation and others. Owing to its advantages, the adoption rate is higher among industries, thus supporting the growth of the Industrial Motor Market. In 2020, ABB Ltd launched a new range of low voltage IEC induction motors i.e. M3BP motors for industries metals, cement, pulp & paper, water & wastewater in India. These motors are compactly designed for applications such as fan, pump, compressor, crusher and crane and helps the industrial customers to save space and cost. Such developments will positively impact the growth of the market.

Industrial Motor Market Segment Analysis-By Application

Based on Application, Oil and gas dominated the global Industrial Motor market with a share of 24.61% in 2021 and is also anticipated to witness highest growth during the forecast period 2022-2027. Industrial motors serve an extensive range of applications in industrial automation vertical including food, packaging, logistics systems, tool machines and robots, among others. Stepper, servo, ac, and dc motors are the ideal motors to meet most industrial automation requirements. In industrial automation, robotics is the major trend in recent years and coming years. Robots are used for various handling purposes for precise and better quality of production. In recent years, the need for industrial automation to mitigate labour shortages in the industrial sector has become a prime concern. In addition, COVID-19 pandemic has posed new risks for workers working in close proximity. Under these circumstances, there is an increasing demand for collaborative robots that can safely work side by side with humans at sites without safety barriers and can flexibly handle multiple tasks which in turn boost the demand for industrial motors. In October 2021, Japanese electronics manufacturer, Omron announced to invest in Tech-man Robot, a manufacturer of collaborative robots in Taiwan and a subsidiary of Quanta Computer. This investment will boost robot business which is the driving force behind the growth of industrial automation This will further create opportunities for the growth of the Industrial Motor market.

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Industrial Motor Market Segment Analysis-By Geography

North America held the largest share of 30.65% in the global Industrial Motor market in 2020 and growing at CAGR of 3.64% during 2022-2027. The increasing adoption of industrial motors in power generation, aerospace, automotive and chemical industries is analyzed to expand Industrial Motor Market in this region. USA, Canada and Mexico are the top contributors in industrial motor market growth in this region. Moreover, a rising number of government incentives to encourage use of energy efficient industrial motors for safeguarding the environment from carbon emissions is expected to drive the market growth. For instance, USA has planned to increase carbon-free power generation from 27% to 35% of total by 2024, thus increasing the scope of adoption of energy efficient motors among industries. Similarly, In December 2020, Federal Electricity Commission planned to construct four nuclear reactors for power generation, thus creating opportunities for the use of energy efficient motors in nuclear power plants. Furthermore, the rising investments for the expansion of chemical industry also triggers the growth of the market in this region. In May 2020, ExxonMobil announced a $2billion investment in Baytown chemical plant expansion project. Such investments can increase the use of industrial motors for the need of handling toxic and aggressive acids, which can influence the market growth of Industrial Motor in the long run.

Industrial Motor Market Drivers

Growing demand for industrial motors in the Automotive and Oil and Gas industries will positively impact the market growth

Increasing demand for industrial motors in the Automotive and Oil and Gas industries will positively impact the market growth. In oil & gas industry, industrial motors are used for wide range of applications such as in off shore cranes, Compressors, Gas pumps, Winches and many others, thus raising its adoptability. Additionally, industrial motors play a vital role for drilling and bringing oil and natural gas resources to the surface and other applications in upstream part of this industry. Furthermore, rising investments for the expansion of oil and gas production across the world owing to the rising energy demands also triggers the growth of the market. In December 2021, the Government of India planned to invest $2.86 billion in the upstream oil and gas production to double natural gas production to 60 bcm and drill more than 120 exploration wells by the end of 2022. These major investments tend to bring significant growth in the demand of industrial motors for Upstream Oil and Gas industry, further driving its market growth during the forecast period. Increasing production of electric vehicles has accelerated the demand for industrial motors during the forecast period. The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. Increasing use of three phase induction motors in electric vehicles because of high efficiency and good speed regulation and absence is also anticipated to drive the growth of Industrial Motor Market. Additionally, increasing investments in production electric vehicles will increase the use of motors, thus contributing to the growth of the market. In 2021, Ford Motor announced to invest in production of electric vehicles to $30 billion by 2025, up from a previous spend of $22 billion by 2023. Such investments can increase the use of industrial motors for the need of good speed regulation, which can influence the market growth of Industrial Motor in the long run.

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Growth of Chemicals & Petrochemicals industries leading to the adoption of industrial motors is analyzed to drive the market growth in the forecast period

Growing demand for industrial motors in chemical & petrochemical industries is set to be one of the major factors analyzed to drive the market during the forecast period. The Chemical & Petrochemical Industries have transformed tremendously at evolving several new technologies for processing chemicals along with automating these processes. The current challenge for the industries include to expand their market while maintaining optimum levels of profit. This has led to the rapid automation of the sector, particularly in the process automation segments which creates demand for industrial motors in the industry. The Chemical industry comprises of the facilities to process the raw materials derived from minerals, oil and natural gas, minerals and several other sources into industrial chemicals. This sector will be most influential in terms of growth prospects for LV and MV Industrial Motors in the forecast period as the chemicals are at the core of every demand either in industrial or consumer perspective. Moreover, induction motors are the major type of industrial motors that are used in wide variety of applications such as pumps, Compressors, Fans and blowers, centrifuges machines and mixers in chemical industry. The demand for pumps, compressors, fans and blowers, centrifuges machines and mixers in these industries are always high, owing to usage in handling toxic and aggressive acids, as well as highly flammable and explosive liquid. For instance, the chemical industry is a major sector that contributes towards the Spain’s GDP. In 2020, Spain's chemical sector accounted for 5.5% of their national gross domestic product (GDP) and 13.4% of the industrial GDP. The total revenue of the chemical sector was 64.519 billion euros, from which 36.57 billion were exported in 2020. This increasing growth was mostly due to rising local demand for chemicals coupled with engage in R&D cooperation with customers and institutes. These factors play significant role to develop higher demands for Industrial Motors in these industries resulting into the market growth.

Industrial Motor Market Challenges

  High cost of raw materials to manufacture industrial motors can hamper the market growth

High cost of raw materials to manufacture industrial motors can act as a major challenge restraining the growth of Industrial Motor Market. The cost of raw material such as metals which includes steel, aluminium and insulation materials are quite expensive. Moreover, these industrial motors consume more electricity which results into rise of cost per unit. Furthermore, availability of low quality industrial motors is another factor that can hamper the market growth. Leading industrial motor manufacturing companies are facing intense competition from local motor manufacturers supplying inexpensive and low-quality AC and DC Motors to tap local markets, thus competing strongly with the global suppliers in the respective markets. Owing to the above mentioned factors, use of energy efficient industrial motor will be significantly impacted, thus hampering its market growth.

Industrial Motor Market Landscape

Partnership, Acquisitions, Collaboration, technology launches and R&D activities are key strategies adopted by players in the Industrial Motor Market. The Industrial Motor Market top 20 companies include: ABB Ltd Siemens AG Nidec Corporation Brook Crompton UK LIMITED WEG S.A. Emerson Electric Co Rockwell Automation Inc TECO Electric & Machinery Co., Ltd Danfoss Toshiba Corporation Regal Rexnord Corporation Parker-Hannifin Corporation Fuji Electric Co., Ltd Eaton Corporation plc General Electric FANUC CORPORATION AMETEK, Inc Allied Motion Technologies Inc Hitachi, Ltd Bosch Rexroth AG

Recent Developments

In December, 2021, WEG S.A , the traditional supplier of electric motors, frequency drives, automation systems, paints and digital solutions (IOT and IA), signed partnership with Marcopolo for the development of Attivi, which is the first electric bus manufactured with its own chassis. Thus, the partnership is formed as Marcopolo Attivi is equipped with a WEG Powertrain and consist of a 395 kW and 2800 Nm of torque three-phase motor and a frequency drive. The WEG Powertrain is designed with the environmental protection principles, and thus, partnership is developed to adapt the vehicle to the demands for urban and intercity transports. In April 2021, Siemens announced the addition of the latest servo motors to its proven Sinamics S210 single-cable servo drive system. The Simotics S-1FS2 is a motor version with a stainless-steel housing, and featured with the highest degree of protection IP67/IP69, as well as high-resolution 22-bit absolute multi-turn encoders, resulting into the expansion of the range of applications across the food and beverage sector and pharmaceutical industry. In March 2020, Rockwell Automation launched New Fanless Kinetix VPC Servo Motor to offer better performance and higher energy efficiencies. The new fanless version of the Allen-Bradley Kinetix VPC enables Printers and other industrial operators to enhance their energy efficiency and reduce machine complexity with a continuous-duty servo motor from Rockwell Automation.

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The Tractors and Motors Industry: A Comprehensive Overview

Introduction 

The tractors and motors industry plays a pivotal role in the global agricultural sector, offering essential machinery that enhances productivity and efficiency. As demand for food increases and agricultural practices evolve, this industry has witnessed significant transformations. This blog will explore current trends, market dynamics, challenges, and future prospects in the tractors and motors market based on recent market research. The tractors market is projected to reach USD 84.80 billion in 2024 and is expected to grow to USD 114.5 billion by 2029, with a compound annual growth rate (CAGR) of 5.90% during the forecast period from 2024 to 2029. 

Current Market Trends 

1. Technological Advancements 

The integration of advanced technologies like GPS, IoT, and AI has revolutionized the tractors and motors industry. Precision agriculture is on the rise, allowing farmers to optimize their operations through data-driven insights. Features such as automated steering, remote monitoring, and predictive maintenance are becoming standard in modern tractors, increasing efficiency and reducing downtime. 

2. Sustainability and Eco-Friendly Solutions 

With a growing focus on sustainability, manufacturers are developing eco-friendly tractors that minimize carbon footprints. Electric and hybrid tractors are gaining traction, driven by regulatory pressures and changing consumer preferences. Companies are investing in research to create biofuel-compatible engines, paving the way for a greener future. 

3. Market Consolidation 

The tractors and motors market has seen significant consolidation in recent years, with mergers and acquisitions reshaping the competitive landscape. Major players are acquiring smaller firms to enhance their product portfolios, expand market reach, and leverage innovative technologies. 

4. Rising Demand in Emerging Markets 

Emerging economies, particularly in Asia and Africa, are witnessing a surge in demand for agricultural machinery. As these regions modernize their agricultural practices, there is a growing need for reliable and efficient tractors to boost productivity. The rising middle class and increased investment in agriculture are key drivers of this demand. 

Market Dynamics 

1. Drivers 

Increasing Agricultural Production: The need to feed a growing global population is propelling demand for tractors that can enhance farm productivity. 

Government Initiatives: Many governments are promoting mechanization in agriculture through subsidies and financial incentives, further driving market growth. 

2. Challenges 

High Initial Investment: The cost of modern tractors can be a barrier for small-scale farmers, limiting market penetration in some regions. 

Maintenance and Repair: The need for skilled technicians to maintain advanced machinery can pose challenges, especially in rural areas with limited access to services. 

Future Prospects 

1. Digital Transformation 

The future of the tractors and motors industry will be heavily influenced by digital technologies. Expect increased connectivity between machines and the cloud, enabling farmers to make informed decisions based on real-time data. This digital transformation will enhance efficiency and help farmers better manage resources. 

2. Focus on Customization 

As farmers' needs vary greatly, the demand for customized tractors equipped with specific features will grow. Manufacturers will need to adapt their offerings to cater to diverse agricultural practices and local conditions. 

3. Investment in Research and Development 

To stay competitive, companies will need to prioritize R&D, focusing on innovative solutions that address the evolving challenges in agriculture. This includes enhancing power output, fuel efficiency, and durability while also considering environmental impacts. 

Conclusion 

The tractors and motors industry is at a pivotal juncture, shaped by technological advancements, sustainability efforts, and changing consumer demands. As the market continues to evolve, key players will need to navigate challenges while seizing opportunities for growth. By embracing innovation and focusing on sustainable practices, the industry can play a crucial role in meeting the world’s agricultural needs in the years to come.    For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/tractors-market 

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Electric Motor Market - Forecast(2024 - 2030)

 Electric Motor Market Overview

Electric Motor Market Size is forecast to reach $169 billion by 2030, at a CAGR of 5.6% during 2024-2030. The increase in global electricity consumption and the use of electrical equipment and machines in different industries and the renewables sector are major factors driving the growth in the electric motor market during the forecast period. An increase in awareness of green vehicles among customers has been a key factor leading the market. Besides this, a rising number of government incentives to encourage sales of green vehicles for safeguarding the environment from carbon emissions is analysed to drive the market. The growing interest in sustainable transportation has driven the demand for electric vehicles. Electric motors play a crucial role in powering EVs, and advancements in motor technology contribute to increased efficiency and range. The industrial sector is witnessing the integration of electric motors with the Internet of Things (IoT) and Industry 4.0 technologies. This integration allows for real-time monitoring, predictive maintenance, and improved efficiency in industrial processes.

Smart motor technologies, incorporating features like connectivity, sensors, and advanced control systems, are becoming more prevalent. These innovations contribute to better performance, remote monitoring, and enhanced automation in various applications. Developments in motor control systems, including advanced algorithms and power electronics, contribute to improved motor performance, reduced energy losses, and enhanced control precision. There is an increasing emphasis on developing more energy-efficient electric motors to meet sustainability goals and reduce energy consumption. Regulations and standards promoting energy efficiency also influence the design and manufacturing of electric motors. Additionally, Electric motors have been observing several advancements in technology over the past few years, owing to which its demand is set to gain higher traction during the forecast period 2024-2030.

Report Coverage

The report: “Electric Motor Market Report– Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Electric Motor market

By Product Type: AC Motor (Induction Motor, Synchronous Motor, Servo Motor, Stepper Motor), DC Motor (Brushed DC Motor, Brushless DC Motor, Servo Motor, Series Motor, Stepper motor, Compound Motor).

By Product Category: Permanent Magnet, Non-Permanent Magnet.

By Phase: Single Phase, Three Phase.

By Power Rating: Below 0.5W, 0.5W-1W, 1W to 100W, 100W to 1KW, 1KW to 10KW, 10KW and Above.

By Efficiency: IE1, IE2, IE3, IE4.

By Application: Commercial (Automated Doors, Elevators & Escalators, Blowers, Electric Sweepers, Hand Dryers, Data Center & UPS, Pumps, Power Tools, Water Coolers, Camera PTZ Control, Drones, Others), Consumer Products (Pumps, Hair Dryers, Lawn Mowers, Boilers, Dishwashers, Vacuum Cleaners, washing machine, Blenders & Mixers, Fans & Chimneys, Desktop & Laptops, Smartphones, Refrigerators, Others), Automotive (Body Control motors, EPS Motors, Brake Booster BLDC Motor, Seat Adjustment, Belt Tensioner, Car Window Motor, Door Lock Motors, Wiper Motor, Others), Medical & Healthcare (Diagnostic Equipment (CT Scanners, MRI, Biopsy Systems, Diagnostics Analyzers, Ultrasound Transducers, X-Ray, Others), Medical Centrifuges, Medical Pumps, Blowers and Compressors, Surgical Instruments (Saws, Drills, Surgical Robots, Others), Dental CAD/CAM Milling Machines, Exoskeleton & Prosthetics, Microscopes, Wheelchairs & Scooters, Stair Lifts, Hospital Beds & Exam Tables, Others).

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia, Netherlands, Poland, Czechia, Belgium, Sweden  and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa)

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Key Takeaways

• The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the electric motor market in APAC.

• The DC Motor segment is growing at a significant CAGR of 7.6% in the forecast period 2024-2030. A DC motor consists of a stator and a rotor.

• Medical & Healthcare sector is expected to witness a highest CAGR of 8.5% the forecast period 2024-2030, due to its extensive reliance on electrically powered devices and equipment. Diagnostic imaging equipment, such as MRI and CT scanners, demands high-performance electric motors for precise movements and accurate imaging. 

• Electric Motor companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers. 

Electric Motor Market Segment Analysis - By Product Type

The DC Motor segment is expected to grow at a significant CAGR of 7.6% during the forecast period 2024-2030. Owing to the growing penetration of brushless DC motors across various industry verticals substituting brushed dc and even ac induction motors in certain applications such as home appliances. DC motors are used in electric vehicles in the automotive industry for various non-traction applications, contributing to the ongoing shift towards sustainable transportation. As the demand for electric vehicles grows, so does the demand for efficient and dependable DC motors. DC motors are also widely used in industrial automation, powering conveyor systems, robotics, and manufacturing equipment. Owing to the ease of control, they are suitable for accurate and regulated movements in automated processes.

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Electric Motor Market Segment Analysis - By Application

Medical & Healthcare sector is expected to witness a highest growth of CAGR 8.5% during the forecast period 2024-2030, owing to the increase in investments in healthcare and medical sector, along with growing penetration of advanced medical devices & equipment in the sector such as surgical robots, advanced imaging & diagnostic equipment, prosthetics and so on. Medical advances and technical improvements have resulted in the development of a wide range of medical instruments and gear that significantly rely on the precision and efficiency provided by electric motors. High-performance electric motors are required for precise motions and accurate imaging in diagnostic imaging equipment such as MRI and CT scanners. Electric motors provide stability and consistency to patient care and monitoring systems such as infusion pumps and monitoring equipment. Furthermore, the incorporation of electric motors in mobility aids such as electric wheelchairs and patient lifts improves accessibility for people who have mobility issues. Electric motors are used in laboratory equipment, robotic surgical systems, and a variety of medical tools, all of which contribute to the overall efficiency and improvement of healthcare techniques. The demand for electric motors is on the rise as the healthcare industry evolves and adopts more technologically sophisticated solutions, fueling additional innovation in this critical sector.

Electric Motor Market Segment Analysis - By Geography 

Electric Motor market in Asia-Pacific region held significant market share of 38% in 2023. Increasing compliance for energy efficient motors and rising adoption of motor-driven electric vehicles are the key factors driving market growth.  The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the electric motor market. In addition, advancements in the agriculture sector and enormous investments in industrialization in countries such as China, India, South Korea, and Australia is driving the market growth. Further, the increasing production and sales of electric vehicles in countries including China and Japan is also analyzed to drive the market growth. 

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Electric Motor Market Drivers

Rise in demand for Electric Vehicles

The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. Major manufacturers such as General Motors, Toyota, and BMW plan to release a potential of 400 models and estimated global sales of 25 million by 2025. In 2022, Ford Motor has committed to increase its investments in electric vehicles to $50 billion by 2026, up from a previous spend of $30 billion by 2025. Similarly, in 2020, Volkswagen, Chinese ventures has committed to invest $17.5 billion in electric vehicles by 2025. As electric vehicles use various types of electric motors for traction & auxiliary applications, the rising demand for electric vehicles globally is set to assist the market growth for electric motors used in the same.

Growing R&D activities 

Manufacturers are continuously focusing on R&D to develop new and effective electric motors to meet consumer demand. Increasing concerns, such as environmental pollution and regulations, are forcing manufacturers to develop electric motors that reduce vibration and increase efficiency. For instance, a synchronous electric motor is around 80% more efficient than an induction electric motor. Similarly, the development of a new type of steel for electric motors, which reduces the weight of the electric motor and makes it more efficient and powerful. This new type of electric motor will be small in size and cost effective, which will raise demand from residential and commercial applications. Moreover growing developments from various companies is also analysed to drive the market growth. Hence these factors are analysed to drive the market growth in the forecast period 2024-2030.

Electric Motor Market Challenges 

Easy availability of low-quality electric motors

The market for electric motors is highly fragmented, with a significant number of domestic and international manufacturers. Product quality is a primary parameter for differentiation in this market. The organized sector in the market mainly targets industrial buyers and maintains excellent product quality, while the unorganized sector offers low-cost alternatives to tap local markets. Local manufacturers of electric motors in most countries target the unorganized sector and compete strongly with the global suppliers in the respective markets. Leading market players are currently exposed to intense competition from such unorganized players supplying inexpensive and low-quality electric motors. This acts as a key challenge for the growth of the market.

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Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Electric Motor market. Electric Motor top 10 companies include:

ABB Ltd

Johnson Electric Holdings Limited

Siemens AG

Rockwell Automation

Nidec Corporation

Bosch Electric

Regal Rexnord

Franklin Electric Company Inc.

Teco Electric & Machinery Co. Ltd.

Wolong Electric Group co. ltd.

Acquisitions/Product Launches

• In July 2023, Nidec Corporation announced that it has successfully developed a new electric power steering motor power pack*1 (“EPS-PP”).

• In July 2023, WEG announced new investments for its motor manufacturing plant located in Manaus, Brazil. The Company will invest R$ 48 million, in the next three years, to expand production capacity and adapt the plant to produce a new line of permanent magnet electric motors for split-type air conditioners

• In December 2023, Johnson Electric Launches 48-Volt Cooling Fan Module with High Power and Efficiency. Johnson Electric is pleased to announce the launch of the 48-Volt Cooling Fan Module with power up to 1.5kW to meet the most demanding cooling requirements.  The need to reduce emissions and increase the electrification of the vehicle, requires higher cooling performance and efficiency.

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Industrial Electric Motors Market is expected to grow at a CAGR of 4.28% By 2029

According to TechSci Research report, “Global Industrial Electric Motors Market – By Region, Competition, Forecast and Opportunities, 2019-2029”, the Global Industrial Electric Motors Market is expected to register robust growth during the forecast period. Increasing awareness of energy efficiency and environmental sustainability has led to a growing demand for high-efficiency electric motors. Businesses and industries seek to reduce energy consumption and operating costs by adopting energy-efficient motors.

With a growing focus on energy efficiency and environmental sustainability, there is a substantial opportunity for high-efficiency electric motors. These motors help businesses reduce energy consumption and operating costs, aligning with global efforts to reduce carbon emissions. Manufacturers that offer energy-efficient Industrial Electric Motors can capitalize on this trend.

Browse over XX market data Figures spread through 86 Pages and an in-depth TOC on the "Global Industrial Electric Motors Market." https://www.techsciresearch.com/report/industrial-electric-motors-market/23103.html

The Industrial Electric Motors Market exhibits a comprehensive segmentation structure, encompassing various parameters to cater to the diverse requirements of industries worldwide. Segmented by Motor Type into AC Motors and DC Motors, this market provides solutions tailored to different applications and operational needs. Moreover, the segmentation based on Output Power distinguishes between Integral Horsepower and Fractional Horsepower motors, catering to varying power requirements across industries.

Additionally, Voltage Rating segmentation categorizes motors into Low Voltage (Up to 690V), Medium Voltage (691V - 3300V), and High Voltage (Above 3300V), reflecting the diverse voltage needs in industrial operations. End-Use Industry segmentation further delineates the market based on sectors such as Manufacturing, Oil and Gas, Mining, Chemicals, Automotive, and Others, capturing the specific demands and applications within each industry vertical. Geographically, the market is divided into regions to account for regional variations in demand and preferences. Dominant segments often include AC Motors due to their widespread adoption across industries, particularly in manufacturing and automotive sectors, where they serve as the primary propulsion source for machinery and equipment.

Additionally, the Manufacturing industry emerges as a dominant end-use segment, fueled by continuous industrial expansion and automation initiatives worldwide. However, the fastest-growing segments are often observed in emerging industries such as renewable energy and electric vehicles, which drive demand for high-efficiency motors with specific voltage and power requirements. Overall, the Industrial Electric Motors Market presents a robust segmentation framework, with dominant segments driven by widespread adoption in key industries, while the fastest-growing segments are propelled by emerging trends and technological advancements.

Key market players in the Global Industrial Electric Motors Market are:-

ABB Sakti Industries

Siemens

WEG Industries

Teco Electric & Machinery

TMEIC Industrial Systems Indonesia

Menara Sinar Agung

Dynatech International

Lautan Luas Tbk

Bhumi Raya Electric

Surya Timur Sakti Jaya   

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“Industrial Electric Motors Market shows positive growth in the forecast period. The increasing emphasis on energy efficiency and sustainability across industries. Industrial electric motors are integral components of various applications, and the demand for energy-efficient motors is expected to surge as companies strive to reduce operating costs and comply with stringent environmental regulations.

Additionally, advancements in motor design and technology, such as the development of high-efficiency motors and the integration of smart features for remote monitoring and control, are anticipated to bolster market growth.

Furthermore, the expansion of key end-use industries such as manufacturing, automotive, and energy is projected to drive the demand for industrial electric motors globally. Moreover, the rising adoption of automation and robotics in industrial processes necessitates reliable and high-performance motors, further contributing to market growth. Additionally, increasing investments in infrastructure development, particularly in emerging economies, are expected to create lucrative opportunities for market players.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Industrial Electric Motors Market Segmented By Motor Type (AC Motor and DC Motor), By Output Power (Integral Horsepower and Fractional Horsepower), By Voltage Rating (Low Voltage (Up to 690V), Medium Voltage (691V - 3300V) and High Voltage (Above 3300V)), By End-Use Industry (Manufacturing, Oil and Gas, Mining, Chemicals, Automotive, Others), By Region, Competition 2019-2029,” has evaluated the future growth potential of Global Industrial Electric Motors Marketand provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Industrial Electric Motors Market.

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Automotive Motors Market 2024 will touch New Level in the Upcoming Year by 2030

Global Automotive Motors Market research report published by Exactitude Constancy reveals the current outlook of the global and key regions from the following perspectives: Key players, countries, product types, and end industries. The report studies the top companies in the global market and divides the market into several parameters. This Automotive Motors Market research report pinpoints the industry's competitive landscape to understand the international competition. This report study explains the expected growth of the global market for the upcoming years from 2024 to 2030. This research report is accumulated based on static and dynamic perspectives on business.

The global Automotive Motors market was valued at 34.79 billion in 2022 and is projected to reach 54.42 billion by 2029, growing at a CAGR of 6.6% from 2022 to 2029.

Browse the Complete Summary and Table of Contents @

https://exactitudeconsultancy.com/ja/reports/28375/automotive-motors-market/

[bishtmeenakshi]

Future Outlook of KSA Automotive Industry: Ken Research

KSA Automotive Industry: Overview & Ecosystem

Kingdom of Saudi Arabia, currently enjoys a strategic position in terms of geography & development of industries with growing economy & improving trade participation in the world. Their automotive industry provides opportunity of high growth with the absence of domestic manufacturing & core dependence on imports for domestic vehicle needs. However, rapid digitization along with various government incentives are set to change the gears of development in the coming years.

KSA is looking forward to develop domestic manufacturing & exporting capabilities for South Africa & other African & gulf nations with stronger tax & driving policies, development of industrial hubs, efficient bilateral relationships & allies, technological competence & its enhancement.

Saudi Arabia Imports & Sales Industry

KSA Automotive industry imports& export volume for automotive vehicles is majorly driven by International OEMS from countries like USA, Japan, Korea, Germany, China & India. The overall ecosystem of KSA automotive industry includes global auto manufacturers like Toyota, Mazda, Hyundai & more, along with many sports & luxury car manufacturers. They are facilitated by local dealers & agents as there is a lack of domestic assembling & major vehicle needs are currently fulfilled via imports.

Largest importing country in terms of vehicles is Japan, home to Toyota, which amounts to the biggest share of vehicle sales in KSA. USA, Korea & china along with Germany, Thailand & India are the other major countries who imports vehicles in KSA. The development of various ports on east & west coast provides ease of importing & connected road network with other gulf countries, helps in providing cross country movements as well Sales & distributing efforts are undertaken by local trading partners in KSA like Abdul Latif Jameel (Toyota), Mohammad Yusuf Naghi (Hyundai) & more, who utilizes their local networks to provide the effeciency & optimization in sales.

Marker segmentation of KSA automotive industry explains the geographical consistency across the country. It was witnessed that Central, Eastern and western region of KSA dominate the market with more than 80% share of sales and are majorly driven by cities like Riyadh, Jeddah, Dammam and Medina/Makkah.

To learn more about this report Download A Free Sample Report

KSA Automotive Aftermarket Spare Parts & Service Industry

KSA Automotive spare parts industry is largely dominated by small retailers selling parts across the country. It was witnessed that there are ~7,000 small retailers in the country with majority of them situated around Jeddah, Dammam & Makkah/Medina.

In terms of car workshops, organized players cater to tier 1 & 2 cities, while other areas are dominated by local & unorganized crash repair & other service providers Value chain & busieness models further provides analysis of various entities available in the market & defines their roles, sourcing habits, retail & dealership networks along with revenue sharing & earning models/pathways & specifies margins at various intervals along with growth potential & strategic ways of diversifying into new business streams.

The Market size of KSA Spare Parts market grew by a CAGR of ~11% for 2014-2019, helping the market grow ~1.7X. It was also witnessed that imports made up more than 50% of the market in terms of volume. With increased ownership period and advanced used to new car ration of 2:1, total car parc in KSA is set to grow a north of 12 mn by the end of 2021.

KSA government is also making genuine efforts to kick start the domestic manufacturing process to include further entities in the ecosystem and sustain the current manufacturers as well to provide them various incentives to grow operations Import & Export analysis of the automotive industry in KSA gives a higher-level idea regarding the annual throughputs at all the major ports, identifies the major commercial hubs & areas of importance while indulging in to international trade.

Key Segments Covered:

KSA Imports & Sales Industry (Distributors & Dealerships)

Import & Export Analysis

Competition Analysis of Major OEM Brands

Future Trends & Developments & Growth Factors

KSA Automotive Aftermarket Spare Parts & Service Industry

Spare parts Industry

Aftermarket Service Industry

Competition Analysis of Major Players via Cross Comparisons & Heat Maps

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KSA Automotive Leasing & Rental Industry

KSA Rental Industry (Market Size, Competition & Segmentation)

KSA Leasing Industry (Market Size, Competition & Segmentation)

Impact of Covid-19 on KSA Automotive Industry

Impact of Covid 19 on KSA Automotive Industry

Mobility Industry looks forward to Utilize Digital Platforms

Post Covid KSA Automotive Industry Outlook

Technology Adoption & Usage Trends in KSA Automotive Industry

Overview of Industry

KSA Automotive Technology Trends, Adoption & Recommendations

Key Target Audience

KSA Car Dealerships

KSA Automotive Industry

KSA Automotive Workshops

KSA Spare Parts Retailers

KSA Automotive Logistic Service Providers

KSA Car Rental Players

KSA Car Leasing Players

KSA ERP Service Providers

KSA Technology Consultants

KSA Foreign Relation Ministry

KSA Customs Department

KSA Ports Authority

KSA Automotive Industry

KSA Imports & Export Authority

KSA Hardware Technology Manufacturers

KSA Software Technology Manufacturers

KSA Cloud Storage Providing Enterprises

KSA Public Institutions

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Time Period Captured in the Report:

Historical Period: 2014-2019

Forecast Period: 2019-2025

Companies Mentioned:

Importers/Car Dealership

Abdul Latif Jameel Motors

Almajdouie Automotive

Wallan Trading Co.

Mohamed Yousuf Naghi Motors

Haji Husain Alireza & Co.

(Mazda, MAN, Aston Martin)

Nissan Petromin

Manahil International

Aljomaih Automotive Company

Universal Motors Agencies

Kia Al Jabr

Al Yemni Motors

Alissa Universal Motors Co.

Bakhashab Brothers Co.

Alesayi Motor Company

Al Jazirah Vehicles Agency

Juffali Automotive Company

Spare Part Retailers/Wholesalers

Balubaid

Barik International

Babatin Auto Parts

Speero

Juffali Auto Parts Company (JAPCO)

Samaco

M S Almeshri & Bros Co.

AL-OLIAH Auto Spare Parts

Delmon Group of Companies

SNAM

Ubuy

Munif Al Nahdi Group (Mize)

Odiggo

Accidom

Bawazeer Auto Parts

Bin sahib

AHQ Parts

Danya Auto Parts

Rezayat Automotive

Saudi Parts Center Company (Al Khorayef Group)

Aftermarket Service Providers

Branded Workshops

AutoFix

SAC Motor

Castrol

BEC (Best Engine Centre)

Sheikh Center (SKBMW)

Abu Jihad Car Maintenance Center

Ac Delco Service Centres

Tyre Plus

3M Authorized Centre

Mize

AdinLub

Car Spa

Car Hub

Ezhalha

Petromin Express

Auto Hub

Exxon Mobil

Autoworld

Castrol Branded Workshops

Shell Fastlube

Fuchs One

NAFT

Ziebart

Grease Monkey

Quick Car Service

Morni

Agency Repair

Samaco

United Motors Express Service Lane

Al Jazeera

Renault

Kia Motors

Fast Auto Technic

Mohammed Yousaf Naghi Motors

Porsche

Land Rover

Quick lane

Nissan Petromin

Haji Husain Alireza & Co.

Universal Motors Agencies

Aljomaih Automotive Company Ltd.

Alesayi Motors

Al Yemni Motors

Alissa Universal Motors Co.

Bakhashab Brothers Co

Al Juffali & Brothers Automotive Ltd.

Wallan Hyundai

Un-Organized/ Independent Players

Middle East Auto Services

Carzzone

German Centre

Cartech

Alod Haib

Al-Aruba Sinnaiyah

Saudi Chinese Vehicle Repair

Al Shamel Car Maintenance Center

Al Nafie Car Maintenance Workshop

Alsajow Center for Car Maintenance

Red Car

Saudi Egyptian Center for Car Maintenance

SRT 8

Al Bayan Car Maintenance

Mujahid Garage

1 Check Car Services (One Examination Workshop)

Saudi radiators

Global Auto Maintenance

Mohammed Al- Tkhais Abu Rakan

Anwar Al Mamlaka Center

Quick Cars Service

Best Corner Car Maintenance

American Diamond Specialist Center

Cars electricity and air conditioning

Badr Sentop workshop BST

Grace Monkey (International Company)

Super Service Auto Center

XEOEX

German Centre

AutoGard

Rental & Leasing Industry

Rental Players

Budget rent a car

Theeb rent a car

Al Wefaq rent a car

Autoworld rent a car

Key rent a car

Avis rent a car

Hanco rent a car

Samara rent a car

Hertz rent a car

Autorent a car

Leasing Players

Ford Aljazirah

Budget Rent a Car

Universal Motors

Al Jomaih

Best rent a car

Al Tayyar rent a car

Enterprise rent a car

Hanco rent a car

Theeb rent a car

Shary rent a car

ERP & CRM Providing Technical Consultants

Britehouse

Techedge

Saudi Business Machine

Tyconz

Accenture

Tata Consultancy Services

Tech Mahindra

HCL

Unitrans

NTT Data

Deloitte

CDK Connect

Seidor

Wipro

Key Topics Covered in the Report:

Saudi Arabia Automotive Industry Overview

Saudi Arabia Imports & Sales Industry (Distributors & Dealerships)

Automotive Imports & Sales Industry Ecosystem, KSA

Value Chain Analysis of KSA Automotive Imports & Sales

Annual Automotive Imports Traffic for Major KSA Ports

Analysis of Imported Goods & Major Countries Importing in KSA

Value & Volume of Vehicles Imported, KSA

Segmentation of Imports on the basis of Vehicle Type, KSA

Automotive Vehicle Manufacturing Clusters Analysis, KSA

New Motor Vehicle Sales, KSA

Market Segmentation of Automotive Sales on the basis of Region, KSA

Demographics of KSA Citizens Supporting Automotive Industry, (2019)

Segmentation of Vehicle Sales on the basis of Brands & Vehicle Type, KSA

Market share of International OEMs in New Vehicle Sales, KSA (2019)

Competition Analysis of Automotive Imports & Sales Industry, KSA (2019)

Profiles of Major Dealerships & Distributors

Business Model & Revenue Stream of Importers/Distributors/Dealerships

Trends & Developments in Automotive Vehicle Industry

Future of Imports & Sales

KSA Automotive Aftermarket Spare Parts & Service Industry

KSA Aftermarket Industry Ecosystem

Aftermarket Spare Parts Industry

KSA Aftermarket Service Industry

Future Trends of Aftermarket Spare Parts & Service Industry

KSA Automotive Leasing & Rental Industry

Macroeconomic Overview of the Rental & Leasing Industry

KSA Automotive Leasing (Long Term) Industry

KSA Rental Industry

Future of Leasing & Rental Industry

For more information on the research report, refer to below link:

KSA Automotive Industry

Related Reports By Ken Research: -

Saudi Arabia Automotive & Spare Parts Logistics Market Outlook to 2025

Saudi Arabia Car Rental and Leasing Market Outlook to 2023

[tbrcresearchreport]

The Business Research Company offers two wheeler hub motor market research report 2023 with industry size, share, segments and market growth

[sharmapooja1234]

Leading Competitors And Growth Trends Heavy Duty Wiper Motor Market Top Players, Trends And Forecast To 2029B Hepworth, Valeo, Denso

The Heavy Duty Wiper Motor Market research delivers comprehensive research on the present stage of the market, covers market size with respect to assessment as sales volume, and provides a precise forecast of the market scenario over the estimated period. Also focuses on the product, application, manufacturers, suppliers, and regional segments of the market. Heavy Duty Wiper Motor report research highlights market driving factors, an overview of the market growth, industry size, and market share. Since this Heavy Duty Wiper Motor report depicts the constantly evolving needs of clients, vendors, and purchasers in different regions, it becomes simple to target specific products and generate large revenues in the global market.

“The Market For Heavy Duty Wiper Motor Market Is Expected to Reach Rise at A CAGR Of 5% During the Forecast Period.”

(Exclusive Offer: Flat 30% discount on this report)

Click Here to Get Free Sample PDF Copy of Latest Research on Heavy Duty Wiper Motor Market 2022 Before Purchase:

Top Key Players are covered in this report:

B Hepworth, Valeo, Denso, AutoTex, Marinco, West Marine, Boat Warehouse Australia, AM Equipment, Schmitt Marine, ROCA Industry, VETUS, WEXCO Industrie

On the Basis of Product, the Heavy Duty Wiper Motor Market Is Primarily Split Into

AC Motors

    DC Motors

On the Basis of End Users/Application, This Report Covers

Ship

    Train

    Automobile

    Others

 

The regions are further sub-divided into:

-North America (NA) – US, Canada, and Mexico

-Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe

-Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC

-Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America

-The Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa

Major Highlights of the Heavy Duty Wiper Motor Market report study:

A detailed look at the global Heavy Duty Wiper Motor Industry

The report analyzes the global Heavy Duty Wiper Motor market and provides its stakeholders with significant actionable insights

The report has considered all the major developments in the recent past, helping the users of the report with recent industry updates

The report study is expected to help the key decision-makers in the industry to assist them in the decision-making process

The study includes data on Heavy Duty Wiper Motor market intelligence, changing market dynamics, current and expected market trends, etc.

The report comprises an in-depth analysis of macroeconomic and microeconomic factors affecting the global Heavy Duty Wiper Motor market

Market Ecosystem and adoption across market regions

Major trends shaping the global Heavy Duty Wiper Motor market

Historical and forecast size of the Heavy Duty Wiper Motor market in terms of Revenue (USD Million)

SPECIAL OFFER: AVAIL UP TO 30% DISCOUNT ON THIS REPORT:

Market Segment Analysis:

The Heavy Duty Wiper Motor Report provides a primary review of the industry along with definitions, classifications, and enterprise chain shape. Market analysis is furnished for the worldwide markets which include improvement tendencies, hostile view evaluation, and key regions development. Development policies and plans are discussed in addition to manufacturing strategies and fee systems are also analyzed. This file additionally states import/export consumption, supply and demand, charge, sales and gross margins.

Browse Full Report at:

The Research covers the following objectives:

– To study and analyze the Global Heavy Duty Wiper Motor consumption by key regions/countries, product type and application, history data from 2016 to 2022, and forecast to 2028.

– To understand the structure of Heavy Duty Wiper Motor by identifying its various sub-segments.

– Focuses on the key global Heavy Duty Wiper Motor manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, Porter’s five forces analysis, SWOT analysis and development plans in the next few years.

– To analyze the Heavy Duty Wiper Motor with respect to individual growth trends, future prospects, and their contribution to the total market.

– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

– To project the consumption of Heavy Duty Wiper Motor submarkets, with respect to key regions (along with their respective key countries).

Report Customization:

Heavy Duty Wiper Motor, the report can be customized according to your business requirements as we recognize what our clients want, we have extended 25% customization at no additional cost to all our clients for any of our syndicated reports.

In addition to customization of our reports, we also offer fully tailored research solutions to our clients in all industries we track.

Our research and insights help our clients in identifying compatible business partners.

Note: All of the reports that we list have been tracking the impact of COVID-19 on the market. In doing this, both the upstream and downstream flow of the entire supply chain has been taken into account. In addition, where possible we will provide an additional COVID-19 update report/supplement to the report in Q3, please check with the sales team.

About us:

The Research Insights – A world leader in analysis, research and consulting that can help you renew your business and change your approach. With us you will learn to make decisions with fearlessness. We make sense of inconveniences, opportunities, circumstances, estimates and information using our experienced skills and verified methodologies. Our research reports will provide you with an exceptional experience of innovative solutions and results. We have effectively led companies around the world with our market research reports and are in an excellent position to lead digital transformations. Therefore, we create greater value for clients by presenting advanced opportunities in the global market.

Contact Us:

Robin

Sales Manager

Contact number: + 91-996-067-0000 

sales@theresearchinsights.com https://www.theresearchinsights.com

[coldpenguintaco]

Increasing Automation and Demand for Eco-friendly Lubricants support the Industrial Lubricants Market Growth| MarketsandMarkets™

Industrial lubricants are special fluids used to reduce friction and wear between two surfaces in contact with each other, such as the mating moving parts of an engine or a machine. They help reduce energy losses, improve machine efficiency, and extend equipment life. Commonly used industrial lubricants include mineral oils and synthetic fluids, greases, and waxes. Industrial lubricants are…

[mordorintelligencemarketresearch]

The Outboard Motors Industry: Navigating Trends and Opportunities 

The outboard motors industry is a vital segment of the broader marine market, encompassing a range of products designed for recreational boating, fishing, and commercial applications. As consumer preferences evolve and environmental regulations become more stringent, the industry is undergoing significant transformations. This blog explores key trends, challenges, and opportunities within the outboard motors market. 

Current Market Overview 

The global outboard motors market has shown robust growth in recent years, driven by increasing disposable incomes, a rise in recreational boating activities, and a growing interest in fishing. According to recent market research, the Outboard Motor Market is projected to reach a size of USD 6.11 billion in 2024, with expectations to grow to USD 7.37 billion by 2029. This represents a compound annual growth rate (CAGR) of 3.79% during the forecast period from 2024 to 2029.  

Key Drivers of Growth 

Rising Interest in Water Sports: The increasing popularity of water sports and recreational boating is propelling demand for outboard motors. Families and adventure enthusiasts are investing in boats equipped with powerful outboard engines for leisure and exploration. 

Technological Advancements: Innovations in motor efficiency, lightweight materials, and integrated electronic systems are making outboard motors more appealing. Features such as fuel injection, electric start, and digital controls enhance user experience and performance. 

Sustainability and Environmental Regulations: With an increasing focus on sustainability, manufacturers are investing in cleaner and more efficient engines. The shift towards electric and hybrid outboard motors is gaining traction as consumers look for eco-friendly alternatives. 

Regional Insights 

North America is the largest market for outboard motors, driven by a strong culture of boating and fishing. The Asia-Pacific region is expected to exhibit the highest growth rate, fueled by rising disposable incomes and increased investment in water sports infrastructure. 

Challenges Facing the Industry 

Despite its growth, the outboard motors industry faces several challenges: 

Environmental Regulations: Stricter emissions standards and environmental regulations can pose challenges for manufacturers, necessitating significant investments in research and development. 

Competition from Alternative Propulsion Systems: The rise of electric propulsion systems is altering the competitive landscape, pushing traditional manufacturers to innovate or risk losing market share. 

Supply Chain Disruptions: The COVID-19 pandemic highlighted vulnerabilities in global supply chains, affecting production and distribution. 

Opportunities on the Horizon 

The future of the outboard motors industry is ripe with opportunities: 

Innovation in Electric Motors: The push towards sustainability opens doors for the development of electric and hybrid outboard motors. As battery technology improves, these options will become more viable for a broader range of consumers. 

Expansion into Emerging Markets: Countries in the Asia-Pacific region, Africa, and Latin America present untapped markets for outboard motors, driven by rising incomes and increasing leisure activities. 

Enhanced Customer Experience: Integrating smart technologies and connectivity features into outboard motors can significantly enhance user experience. Manufacturers can focus on creating systems that offer real-time performance data and remote diagnostics. 

Conclusion 

The outboard motors industry is at a crossroads, with technological advancements and changing consumer preferences reshaping its landscape. While challenges exist, the potential for growth and innovation is substantial. By focusing on sustainability and enhancing the user experience, companies can position themselves to thrive in this dynamic market. As we move forward, the key will be adaptability and a willingness to embrace the changes that define the future of boating and marine recreation.    For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/outboard-motor-market 

[custommarketinsights]

At 6.8%CAGR, Global Electric DC Motors Market Size & Share Surpass US$ 27.7 Bn By 2030, Forecast & Analysis Report | CMI

 According to the study, The Global Electric DC Motors Market was estimated at USD 18.6 Billion in 2021 and is anticipated to reach around USD 27.7 Billion by 2030, growing at a CAGR of roughly 6.8% between 2022 and 2030.

Electric DC Motors Market: Overview

Electric DC motors are frequently employed in various industrial applications to carry out various industrial operations. Electric DC motors are used for energy conversion in almost every mechanical advancement since they transform electrical energy into mechanical energy. The steady expansion of industrial automation primarily drives the market for electric DC motors.

Several industry sectors have incorporated industrial automation components in the past few years. Industries are changing their business procedures to compete in the fast-paced commercial environment. During the projected period, these factors are anticipated to support the expansion of the worldwide electric DC motor market.

Electric DC Motors Market: Growth Drivers Future demand for DC type is anticipated to be enormous because of factors including the concerted efforts of governments worldwide to promote manufacturing and the growing popularity of electric vehicles. Numerous countries have revised their energy regulation rules due to the excessive usage of conventional energy sources, such as fuels, and their quick depletion. Utilizing these motors results in cleaner consumption and cost-effective cost reduction.

The rate at which industrial industries are automating and modernizing their processes is dangerously high due to the increasing demand for goods. A significant level of modernization has also been achieved in conventional agricultural machinery, which makes considerable use of DC motors. Due to rising demand brought on by these factors, the electric DC motors market is anticipated to grow throughout the forecast period.

Get a sample of the report:https://www.custommarketinsights.com/request-for-free-sample/?reportid=18935

Key Insights: A) As per the analysis shared by our research analyst, the Electric DC Motors market is estimated to grow annually at a CAGR of around 10% over the forecast period (2022-2030). B) In terms of revenue, the Electric DC Motors market size was valued at around USD 18.6 billion in 2021 and is projected to reach USD 27.7 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate. C) Based on type segmentation, the brushed DC segment was predicted to show maximum market share in 2021. D) Based on the voltage segmentation, the 0 – 750-Watt segment was the leading revenue-generating category in 2021. E) Based on end-use industries segmentation, the industrial machinery segment was the leading revenue-generating category in 2021. F) Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Press Release For Electric DC Motors Market: https://www.custommarketinsights.com/press-releases/electric-dc-motor-market/

Regional Landscape The Asia Pacific region will lead the electric DC motor market in 2021. Over the projection period, developed regions like North America and Europe are anticipated to experience consistent expansion. The demand for these motors is anticipated to increase over the next several years as the U.S. government encourages the production of electric vehicles. The industry in Europe is also being driven by government subsidy programs for electric vehicles to protect the environment from carbon emissions.

[justinspoliticalcorner]

Dave Jamieson at HuffPost:

CHATTANOOGA, Tenn. — Roughly 4,000 Volkswagen workers here will decide this week on whether to form a union at their assembly plant. Their votes will shape more than just the future of their jobs — they could mark a turning point for both the United Auto Workers and the auto industry in the South. The election begins Wednesday and runs through Friday. The union previously lost two factorywide elections at the facility, including a stinging 833 to 776 defeat in 2019. Zachary Costello quietly supported that organizing effort. This time he’s made his feelings known to anyone who will listen, throwing himself into the campaign as a member of the organizing committee.

“I don’t want to narrowly lose again. This time, I’m not sitting on the sideline,” said Costello, 34. “To me it feels like the most important thing I’ve ever been a part of, to the point where it doesn’t even feel real.” The UAW already represents Ford and General Motors workers at auto plants in the South, but for decades the union has struggled to organize foreign-owned “transplant” automakers in the region, where union membership tends to be low and politicians are generally hostile to labor groups. As a result, the UAW has lost membership as a share of the industry, forcing the union into a more defensive posture in the places where it represents autoworkers — primarily Midwestern plants run by Ford, GM and Jeep parent company Stellantis. Meanwhile, much of the electric-vehicle boom is expected to take place down South, making the union’s inroads there all the more important.

[...] But organizing the likes of Volkswagen, Mercedes, Toyota and Hyundai would increase the union’s bargaining power across the sector, including in Detroit. Ford, GM and Stellantis like to point to their higher labor costs relative to the foreign automakers and the nonunion, Texas-based Tesla. So the UAW’s power will always be limited as long as the Big Three′s competitors remain nonunion, said Art Wheaton, an expert in labor negotiations at Cornell University. “This is a big deal, since you need to increase market share of the number of plants that are unionized to give you more leverage,” he said. “Really the UAW needs to have more than just the Detroit Three organized if they want to have the same sort of impact to lift wages and benefits.”

This week, a big union election looms in the VW plant in Chattanooga, Tennessee, as the UAW seeks to unionize the plant. The union lost the last two times, but this time could be different.

[metalmanauto]

Top 5 Automotive Companies and How Metalman Auto Ltd. Supports Them

The automotive industry is dominated by several key players that lead the market in terms of innovation, production, and market share. The top five automotive companies globally are typically considered to be Toyota, Volkswagen Group, Daimler AG (Mercedes-Benz), Ford Motor Company, and General Motors (GM).

How Metalman Auto Ltd. Supports These Automotive Giants

As a leading supplier of high-quality automotive components, Metalman Auto Ltd. is well-positioned to support these top automotive companies. Our expertise in metal fabrication and assembly allows us to provide critical components that meet the specific needs of these manufacturers.

Our Value Proposition:

High-Precision Components: We provide parts that are essential for the safety and performance of vehicles, adhering to the exact specifications required by these top manufacturers.

Collaborative Approach: We work closely with OEMs to understand their needs and provide innovative solutions that enhance vehicle performance and safety.

Sustainable Manufacturing: Our commitment to sustainable practices ensures we contribute positively to the automotive industry’s environmental goals.

By partnering with Metalman Auto, these top automotive companies can enhance their supply chain efficiency and maintain their competitive edge in the global market.

[dailyanarchistposts]

E.3.3 Can capitalism’s focus on short-term profitability deal with the ecological crisis?

No a word, no. This is another key problem associated with capitalism’s ability to deal with the ecological crisis it helps create. Due to the nature of the market, firms are forced to focus on short-term profitability rather than long-term survival. This makes sense. If a company does not make money now, it will not be around later.

This, obviously, drives the creation of “externalities” discussed in previous sections. Harmful environmental effects such as pollution, global warming, ozone depletion, and destruction of wildlife habitat are not counted as “costs of production” in standard methods of accounting because they are borne by everyone in the society. This gives companies a strong incentive to ignore such costs as competition forces firms to cut as many costs as possible in order to boost short-term profits.

To give an obvious example, if a firm has to decide between installing a piece of costly equipment which reduces its pollution and continuing as it currently is, then it is more likely to do the latter. If the firm does invest then its costs are increased and it will lose its competitive edge compared to its rivals who do not make a similar investment. The “rational” decision is, therefore, not to invest, particularly if by externalising costs it can increase its profits or market share by cutting prices. In other words, the market rewards the polluters and this is a powerful incentive to maximise such activities. The market, in other words, provides incentives to firms to produce externalities as part their drive for short-term profitability. While this is rational from the firm’s position, it is collectively irrational as the planet’s ecology is harmed.

The short-term perspective can also be seen by the tendency of firms to under-invest in developing risky new technologies. This is because basic research which may take years, if not decades, to develop and most companies are unwilling to take on that burden. Unsurprisingly, most advanced capitalist countries see such work funded by the state (as we noted in section D.8, over 50% of total R&D funding has been provided by the federal state in the USA). Moreover, the state has provided markets for such products until such time as markets have appeared for them in the commercial sector. Thus capitalism, by itself, will tend to under-invest in long term projects:

“in a competitive system you do short-term planning only … Let’s take corporate managers, where there’s no real confusion about what they’re doing. They are maximising profit and market share in the short term. In fact, if they were not to do that, they would no longer exist. Let’s be concrete. Suppose that some automobile company, say General Motors, decides to devote their resources to planning for something that will be profitable ten years from now. Suppose that’s where they divert their resources: they want to think in some long-term conception of market dominance. Their rivals are going to maximising profit and power in the short term, and they’re going to take over the market, and General Motors won’t be in business. That’s true for the owners and also for the managers. The managers want to stay managers. They can fight off hostile take-over bids, they can keep from being replaced, as long as they contribute to short-term profitability. As a result, long-term considerations are rarely considered in competitive systems.” [Noam Chomsky, Language and Politics, p. 598]

This does not mean that firms will not look into future products nor do research and development. Many do (particularly if helped by the state). Nor does it imply that some industries do not have a longer-term perspective. It simply shows that such activity is not the normal state of affairs. Moreover, any such “long-term” perspective is rarely more than a decade while an ecological perspective demands much more than this. This also applies to agriculture, which is increasingly being turned into agribusiness as small farmers are being driven out of business. Short-termism means that progress in agriculture is whatever increases the current yield of a crop even if means destroying the sources of fertility in the long run in order to maintain current fertility by adding more and more chemicals (which run off into rivers, seep into the water table and end up in the food itself.

This kind of irrational short-term behaviour also afflicts capital markets as well. The process works in the same way Chomsky highlights. Suppose there are 3 companies, X, Y, and Z and suppose that company X invests in the project of developing a non-polluting technology within ten years. At the same time its competitors, Y and Z, will be putting their resources into increasing profits and market share in the coming days and months and over the next year. During that period, company X will be unable to attract enough capital from investors to carry out its plans, since investors will flock to the companies that are most immediately profitable. This means that the default position under capitalism is that the company (or country) with the lowest standards enjoys a competitive advantage, and drags down the standards of other companies (or countries). Sometimes, though, capital markets experience irrational bubbles. During the dot.com boom of the 1990s, investors did plough money into internet start-ups and losses were tolerated for a few years in the expectation of high profits in the near future. When that did not happen, the stock market crashed and investors turned away from that market in droves. If something similar happened to eco-technologies, the subsequent aftermath may mean that funding essential for redressing our interaction with the environment would not be forthcoming until the memories of the crash had disappeared in the next bubble frenzy.

Besides, thanks to compound interest benefits far in the future have a very small present value. If $1 were left in a bank at 5% annual interest, it would be worth more than $2 million after 300 years. So if it costs $1 today to prevent ecological damage worth $2 million in the 24th century then economic theory argues that our descendants would be better off with us putting that $1 in the bank. This would suggest that basing our responsibility to future generations on economics may not be the wisest course.

The supporter of capitalism may respond by arguing that business leaders are as able to see long-term negative environmental effects as the rest of us. But this is to misunderstand the nature of the objection. It is not that business leaders as individuals are any less able to see what’s happening to the environment. It is that if they want to keep their jobs they have to do what the system requires, which is to concentrate on what is most profitable in the short term. Thus if the president of company X has a mystical experience of oneness with nature and starts diverting profits into pollution control while the presidents of Y and Z continue with business as usual, the stockholders of company X will get a new president who is willing to focus on short-term profits like Y and Z. As Joel Bakan stresses, managers of corporations “have a legal duty to put shareholders’ interests above all others … Corporate social responsibility is thus illegal — at least when it is genuine.” Ones which “choose social and environmental goals over profits — who try and act morally — are, in fact, immoral” as their role in both the economy and economic ideology is to “make much as much money as possible for shareholders.” [The Corporation, pp. 36–7 and p. 34]

In general, then, if one company tries to devote resources to develop products or processes that are ecologically responsible, they will simply be undercut by other companies which are not doing so (assuming such products or processes are more expensive, as they generally are as the costs are not inflicted on other people and the planet). While some products may survive in small niche markets which reflect the fact that many people are willing and able to pay more to protect their world, in general they will not be competitive in the market and so the ecologically damaging products will have the advantage. In other words, capitalism has a built-in bias toward short-term gain, and this bias — along with its inherent need for growth — means the planet will continue its free-fall toward ecological disaster so long as capitalism exists.

This suggests that attempts to address ecological problems like pollution and depletion of resources by calling for public education are unlikely to work. While it is true that this will raise people’s awareness to the point of creating enough demand for environment-friendly technologies and products that they will be profitable to produce, it does not solve the problem that the costs involved in doing such research now cannot be met by a possible future demand. Moreover, the costs of such technology can initially be quite high and so the effective demand for such products may not be sufficient. For example, energy-saving light bulbs have been around for some time but have been far more expensive that traditional ones. This means that for those on lower-incomes who would, in theory, benefit most from lower-energy bills cannot afford them. Thus their short-term income constrains undermine long-term benefits.

Even if the research is completed, the market itself can stop products being used. For example, the ability to produce reasonably inexpensive solar photovoltaic power cells has existed for some time. The problem is that they are currently very expensive and so there is a limited demand for them. This means that no capitalist wants to risk investing in factory large enough to take advantage of the economies of scale possible. The net effect is that short-term considerations ensure that a viable eco-technology has been margainalised.

This means that no amount of education can countermand the effects of market forces and the short-term perspective they inflict on us all. If faced with a tight budget and relatively expensive “ecological” products and technology, consumers and companies may be forced to choose the cheaper, ecologically unfriendly product to make ends meet or survive in the market. Under capitalism, we may be free to choose, but the options are usually lousy choices, and not the only ones potentially available in theory (this is a key problem with green consumerism — see section E.5).

The short-termism of capitalism has produced, in effect, a system which is “a massive pyramid scheme that will collapse somewhere down the line when all the major players have already retired from the game. Of course when the last of these hustlers cash in their chips, there won’t be any place left to retire to.” [David Watson, Op. Cit., p. 57]