According to a report by Future Market Insights (FMI), the global inverter duty motor market is projected to reach USD 4.7 billion in 2024, driven by the expansion of renewable energy installations. This trend is expected to create new opportunities, with the market forecasted to grow at a CAGR of 12.1% between 2024 and 2034, reaching a total valuation of USD 14.7 billion by 2034.
A key driver of this growth is the continuous advancements in material science and motor design technologies, leading to the development of lighter, more compact, and high-performance inverter duty motors. These motors offer improved power density, efficiency, and durability, catering to the evolving needs of various applications and industries.
Collaborations between motor manufacturers, technology providers, and industry stakeholders are fostering innovation by developing integrated solutions tailored to specific market segments. These strategic partnerships promote knowledge sharing, technology transfer, and access to new markets, fueling growth in the inverter duty motor industry.
Additionally, the increasing electrification of industrial processes, spurred by environmental regulations and cost-saving initiatives, is boosting demand for inverter duty motors. These motors enable precise control and optimization of manufacturing processes, resulting in enhanced efficiency and productivity.
Key Takeaways from the Market Study:
- Global inverter duty motor market was valued at US$ 4.1 Billionin 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 1%.
- The market in Japan is expected to expand at a CAGR of 8%through 2034.
- By application, the pumps segment to account for a CAGR of 6%through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 10.0 Billionduring the forecast period.
- The market in the United Kingdom is expected to expand at a CAGR of 5%through 2034.
Competitive Landscape:
Prominent players in the inverter duty motor market are:
- Regal Beloit Corporation
- ABB
- Siemens
- GE
- Nidec Motor Corporation
- Havells India Ltd.
- Rockwell Automation
- Adlee Powertronic Co. Ltd.
- Bison Gear & Engineering
- North American Electric Inc.
- Nanyang Harward Ex Machinery and Electronics Co. Ltd.
- Fukuta Elec & Mach. Co. Ltd.
Inverter Duty Motor Market Segmentation Analysis:
By Construction Material:
- Laminated Steel
- Cast Iron
- Aluminum
By Application:
- Pumps
- Fans
- Conveyors
- Extruders
- Others
By End User:
- Chemicals
- Oil and Gas
- Metal and Mining
- Paper and Pulp
- Food and Beverage
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/inverter-duty-motor-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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