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"Inverter Duty Motors Market, By Application, By End-User, By Standards, By Construction Material, and By Region (North America, Europe, Asia-Pacific, and Rest of the World): Global Forecast and Trends to 2021”
The global inverter duty motors market estimated at USD 4.08 billion by 2021, and is expected to grow at a CAGR of 9.6% during 2016–2021. Increasing need for motor efficiency, growing urbanization and infrastructure developments, and high demand for energy density of motors are driving the inverter duty motors market across the globe.
Pumps application segment dominates the global inverter duty motors market
An inverter duty motor is required for centrifugal pumping applications; it provides enormous potentials such as energy savings, improved performance, improved reliability, and reduced life cycle costs of motor operations. Increasing industrial activities and growing oil & gas sectors in the U.S. and the Middle East are driving the demand for inverter duty motors in the respective regions. The growth of the inverter duty motors market in the pumping segment in Africa and South America can be attributed to increasing oil & gas and mining activities in the respective regions.
Europe is the fastest growing region in the inverter duty motors market
Europe is the fastest growing market for inverter duty motors in terms of commercial and domestic applications. A number of European countries are aligning their regulations with IEC standards, which would boost the motor market and consequently the inverter duty motors market. For instance, the recently introduced EU Commission Regulation EU 4/2014 prescribes minimum efficiency levels (IE3) for electric motors in the European market. This would drive the demand for inverter duty motors market in the European region. Furthermore, developed economies of the region such as the U.K., Germany, and France have a wide industrial base. Other countries such as Poland, Greece, and Spain are also investing in industrial growth, which is likely to aid in the growth of the inverter duty motors market.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows:
- By Company Type: Tier 1?55%, Tier 2?20%, Tier 3?25%
- By Designation: C-Level?75%, Director Level?25%
- By Region: North America?10%, Europe?20%, Asia-Pacific?40%, RoW?30%
The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion, and Tier 3 = The leading players in the inverter duty motors market include ABB Ltd. (Switzerland), Nidec Corporation (Japan), Regal Beloit Corporation (U.S.), Rockwell Corporation (U.S.), Siemens AG (Germany), General Electric (U.S.), WEG SA (Brazil), Crompton Greaves (India), and Havells India Ltd. (India), among others.
Why buy this report?
- The report identifies and addresses key markets for inverter duty motors which is useful for suppliers and OEMs to review production and distribution plans.
- The report includes analysis for key countries by application and end-user of inverter duty motors. It analyzes historical trends and also forecast for 2021 assisting in strategic decision making.
- It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from the key global market players. It helps understand the competition strategies and plan respective initiatives.