Friday 24 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Industrial Motors Market in the APAC Region: ABB Ltd., Mitsubishi Electric Corp. and Siemens AG.
Other Prominent Vendors in the market are: Fuji Electric, General Electric, Rockwell Automation and TECO.
The report said: “The major trend positively influencing the Industrial Motors market in the APAC region is the development of infrastructure and urbanization in the developing regions of the world such as Brazil, India, and China. The automation of the process in end-user plants has also led to higher demand for electric process equipment over fluid power technology because of benefits such as remote operation and diagnostics.”
According to the report, the most important driver leading to higher growth of the Industrial Motors market in the APAC region is the continuous growth of end-user industries across the world. The Oil and Gas, Food and Beverage, and Power Generation industries are a few of the major customers of industrial motors that have been expanding in regions of North America and Asia, growing the demand for industrial motor sales.
Further, the report states that emphasis on refurbishment of old equipment over purchase of new equipment and the high level of competiveness between the low-cost suppliers is one of the key challenges in the market. The increased level of competiveness between the market players has led to lower margins and decreasing overall market revenue.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.