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
The inverter duty motors market, by application, in this report, has been divided into pumps, fans, extruders, conveyers, and others. Others include cranes & hoists, winders, and mixers. The pumps segment is estimated to dominate the inverter duty motors market during the forecast period. The major factors driving the growth of this market include higher energy efficiency and superior energy density offered by inverter duty motors. This comparison is in regard to general purpose motors with inverter duty motors.
Complete report on Inverter Duty Motors Market spread across 156 pages with 73 tables and 52 figures Profiling 12 Companies is now available at http://www.rnrmarketresearch.com/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-forecasts-to-2021-market-report.html
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.
On the basis of end-user industry, the report segments the inverter duty motors market into chemicals and oil & gas, metals & mining, pulp & paper, food & beverage, and others. Others include pharma, textile processing, and cement industries. Meanwhile, the global inverter duty motors market is expected to register a substantial growth rate during the forecast period. The European market is forecast to lead in terms of growth rate during the forecast period. This growth can be attributed to government initiatives to achieve higher energy-efficiency targets and regulation of industrial motors applications, which oblige to use standard-specific inverter duty motors in variable speed applications.
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.
In this report, the inverter duty motors market has been analyzed with respect to four regions, namely, North America, Europe, Asia-Pacific, and Rest of the World. Rest of the World includes South America, the Middle East, and Africa regions. North America is expected to dominate the global inverter duty motors market owing to its large unconventional oil & gas industry base, and stringent motor efficiency regulations in the region.
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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.
Gear Motors Market by Product (Gearbox & Gear Motor), by Gear Type (Helical, Planetary, Helical-Bevel, Worm, & Others), by Rated Power, by Torque (Up to 10,000 Nm, Above 10,000 Nm), by Industry & by Region - Global Trends & Forecast to 2021. Is available at Rnrmarketresearch.com at http://www.rnrmarketresearch.com/gear-motors-market-by-product-gearbox-gear-motor-by-gear-type-helical-planetary-helical-bevel-worm-others-by-rated-power-by-torque-up-to-10000-nm-above-10000-nm-by-industry-by-region-global-st-to-2021-market-report.html The report projects the The global gear motors market to grow at a CAGR of 5.8% from 2016 to 2021and reach USD 23.94 Billion by 2021. This growth is attributed due to increasing wind power installations and growing concerns regarding the efficiency and cost-effectiveness of mechanical power transmission technologies.