The Global Inverter Duty Motors Market is projected to grow at a CAGR of 9.6% during 2016–2021, to reach a value of USD 4.08 Billion by 2021. This growth is attributed to increasing demand for energy efficiency, energy density of motors, and growing urbanization leading to infrastructural growth across the globe.
Browse 73 market data tables with 49 figures spread through 142 pages and in-depth TOC on "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"
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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.
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.
The report includes profile of some of the leading players in the Inverter Duty Motors market, namely, 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. Dominant players are trying to penetrate developing economies and adopting various methods to grab the market share.
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Decrease in Greenfield investments by oil & gas industry is one of the restraining factors for the Inverter Duty Motors Market, globally. The recent oil price slump has resulted in contraction of exploration & production company budgets, which led to the decrease in revenues for inverter duty motors market as well. Another factor restraining the growth of inverter duty motors is lack of information among end-users of these kinds of motors. It has been observed that the information related to benefits associated with inverter duty motors lacks between end-users. This restrains them from adopting inverter duty motors over comparatively cheaper general purpose motors. These are some of the factors which have proved to be a restraining factor in the inverter duty motors market.
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