Insights into the Latest Trends in Industrial Motors

Electric motors are used almost in every piece of equipment you see out there, from industrial pumps to table saws. This is why the market for motors has always been high. In 2020, the market stood at US$142.7 billion, which was a slowdown occasioned by the COVID-19 pandemic. As the global economy roars back after discovering COVID-19 vaccines, rapid-paced urbanization and faster adoption of electric cars, among other attributes, are likely to push growth up the demand for motors in the coming years. By 2028, the market is expected to reach US$235.5 billion. 

Demand from Residential and Commercial Sectors to Increase Motors Growth

In 2020, the energy-related CO2 emissions fell by about 5.8% because of lower energy demand, which was occasioned by intensifying COVID-19-related lockdowns across the globe. However, the problem of vehicular emissions still exists, prompting manufacturers to go for renewable equipment. This has resulted in the growing demand for electric motors to try and cut down emissions. 

Rapid-paced urbanization has also increased the demand for the adoption of HVAC applications, from washing machines to vacuum cleaners. These developments are expected to contribute to the fast-growing electric motor market between 2021 and 2028. 

Regional Electric Motor Insights

In 2020 Asia-Pacific region’s motor market stood at US$ 37.77 billion, a significant portion of the total US$142.7-billion market for the year. Now, it is expected to grow even further because of rapid urbanization in most Asian countries, especially China and India. The development of industrial equipment, from pumps to angle grinders, among others in China, will further push the number to a higher level. 

In Europe, the motor market is also expected to grow rapidly because of the increasing demand for electric vehicles and industrial equipment. Crossing over to North America, the market was also pretty vibrant in 2020, reaching US$19.3 billion. Between 2021 and 2028, it is expected to grow by about 6%. 

Motor Type Trends

When it comes to specific motors, the AC motor models dominated the market in 2020, accounting for more than 70.7%. This is attributed to AC motors' diverse applications, which range from modern-day robotics that work alongside programmable logic controllers to home electronics. Another attribute of AC motors is that they are light, small, and cheap. 

The adoption of electric motors in the auto manufacturing niche has further pushed the demand exponentially. As more countries emphasize cutting down emissions, research & development in electric cars is expected to further push for more effective electric motors. For example, we are now seeing more improvements in permanent magnet materials. 

Still, in the auto industry, advances in specific features, such as adjustable mirrors, sunroof systems, and motorized seats, are expected to keep the demand for brushless DC motors high. DC motors are also the preferred motors for traction in electric toys.  

Other Highlights about Electric Motors

• The global industrial motors market is raw material intensive. Raw materials account for about 50% of the motor production costs. 

• The main raw materials used for the production of industrial motors are copper and steel. 

• Unlike the DC motors used for non-industrial purposes, the industrial motors are capital intensive. They are also required to adhere to strict safety guidelines during production, installation, and use. 

• Industrial motor manufacturers are required to be experts in the field of electric motors. They have to be approved by consultants, get the required licenses, and follow international standards for motors production. For example, motor production efficiency in the US is regulated by the Energy Efficiency Provision of the Energy Policy Act (EPAct). These standards are expected to ensure the motors getting into the market are of the highest possible quality. 

The rapid development in most economic segments, from industrial equipment to electric cars, is likely to push the demand for electric motors up in the coming years. We are also likely to see new types of more efficient motors entering the market as the demand for eco-friendly living intensifies.