Inverter Duty Motor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Inverter Duty Motor Market

The Inverter Duty Motor market size was valued at USD 3.42 billion in 2018, and the market is now projected tgrow from USD 3.42 billion in 2018 tUSD 12.62 billion by 2032, exhibiting a CAGR of 9.84% during the forecast period of 2019-2032.

The COVID-19 pandemic had a mixed impact on the Inverter Duty Motor market growth, with initial disruptions in manufacturing, supply chains, and venture delays throughout industries like automotive, oil and fuel, and production due tlockdowns and financial slowdowns. However, the growing awareness of electricity-green solutions and automation in the course of the recovery segment supported marketplace resilience. Sectors like meals and beverages, prescribed drugs, and crucial items manufacturing, which prioritised operational continuity, persisted in calling for inverter obligation vehicles for efficient operations. As industries tailored tput up-pandemic challenges and resumed sports, the marketplace started trecover, driven by investments in business automation and energy-saving technology.

There has been a huge upward thrust inside the urbanisation fee in the past few years; moreover, growing industrialisation and massive investments in leveraging the performance of industries are the main elements attributed tthe inverter obligation motor market traits. The automotive and oil and gas enterprise alscontributes tthe increase of the market, inclusive of the establishment of the producing plant of electric cars and growing refineries and exploration activities. For instance, In April 2019, Nidec Corporation had planned tconstruct a manufacturing enterprise well worth USD 500 million tmake motors for electric-powered vehicles in Dalian, China. Hence, improved funding in industrialisation would upsurge the Inverter Duty Motor market share at some point in the forecast duration.

Additionally, The developing demand for power-efficient automobiles will bring about the growing adoption of inverter-duty automobiles, which might propel the call for inverter-obligation automobiles in the course of the approaching duration.

Comprehensive Analysis of the Inverter Duty Motor Market

The inverter obligation motor marketplace is segmented primarily based on construction fabric, software, and quit-consumer. The production of cloth consists of laminated metallic, forged iron, and aluminium, with solid iron dominating because of its machinability, wear resistance, and applications in the chemical, textile, and pharmaceutical sectors. Laminated metallic is valued for its mechanical strength, while aluminium is gaining call for its fee effectiveness in industrial use. By utility, the marketplace covers pumps, fans, conveyors, extruders, and others (e.g., elevators, commercial washing machines, textile vegetation). Key boom drivers include increased use in chemical processing, metallic and mining, and meals and beverage sectors, alongside growing demand for power performance and business automation. By quit-consumer, the market spans chemicals, oil and gas, metal and mining, paper and pulp, meals and beverage, and others, with oil and gasoline mainly because of investments in exploration and manufacturing, whilst industries like metal and mining and paper and pulp enjoy the torque and speed control provided by inverter obligation motors.

Asia Pacific is the quickest-developing place globally in phrases of building infrastructure, big investments, and developing fashion in industrialisation. These elements aid the boom of the industrial and commercial sectors, which brings the call for deploying inverter obligation automobiles.

Key gamers in the inverter duty motor market consist of Regal Beloit Corporation (USA), ABB (Switzerland), Siemens (Germany), GE (General Electric) (USA), Nidec Motor Corporation (Japan), Havells India Ltd. (India), Rockwell Automation (USA), and Adlee Powertronic Co. Ltd. (Taiwan). These organisations are leading innovators, offering advanced motor answers tsatisfy the growing demands of industrial and industrial applications globally.

In November 2019, Nidec Motor Corporation had planned tincrease its production operation in Monterrey, Mexico, for business electric automobiles. The growth is really worth USD 2.3 million, which helped tboost its manufacturing capacity and improve its operations.

Segmentation Table

Global Inverter Duty Motor Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 9.84% from 2024-2032

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By construction material, application, End-User, and Region

By construction material

Laminated Steel

Cast Iron

Aluminum

By application

Pumps

Fans

Conveyors

Extruders

Others

By End-User

Chemicals

Oil & Gas

Metal & Mining

Paper & Pulp

Food & Beverage

Others

By Region

North America (U.S. and Canada)

Latin America (Brazil, Mexico, and Rest of Latin America)

Europe (UK, Germany, France, Italy, Spain, The Netherlands, and Rest of Europe)

Asia-Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia-Pacific)

The Middle East & Africa (GCC, South Africa, and Rest of The Middle East & Africa)