Global Safety Drives and Motors Market Growth 2024-2030

Global Safety Drives and Motors Market Growth 2024-2030

Safety Drives and Motors are electric drives and motors that are designed to prevent or minimize the risk of injury or damage to people, equipment, or the environment. They are used in various industrial applications, such as machinery, conveyors, pumps, compressors, and fans, where precise and reliable control of speed, torque, and position is required. Safety Drives and Motors can also monitor and detect faults, such as overcurrent, overvoltage, overspeed, overload, or loss of phase, and react accordingly by shutting off the power, reducing the speed, or activating an alarm. Safety Drives and Motors can be classified into two types: AC and DC. AC drives and motors use alternating current to power and control the speed and direction of AC motors, while DC drives and motors use direct current to do the same for DC motors. Some examples of safety drives and motors are: Dyneo® Permanent Magnet Synchronous Motors, ATEX Dust and Gas Safety Motors, Powerdrive MD2 AC Drives, and Safe Torque Off (STO) systems.

The global Safety Drives and Motors market size is projected to grow from US$ 651.5 million in 2023 to US$ 1123.2 million in 2030; it is expected to grow at a CAGR of 8.1% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Safety Drives and Motors Industry Forecast” looks at past sales and reviews total world Safety Drives and Motors sales in 2023, providing a comprehensive analysis by region and market sector of projected Safety Drives and Motors sales for 2024 through 2030. With Safety Drives and Motors sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Safety Drives and Motors industry.

This Insight Report provides a comprehensive analysis of the global Safety Drives and Motors landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Safety Drives and Motors portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Safety Drives and Motors market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Safety Drives and Motors and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Safety Drives and Motors.

The future market trends of Safety Drives and Motors are driven by the increasing demand for energy efficiency, automation, safety, and reliability in various industrial sectors, such as energy and power, manufacturing, mining, oil and gas, chemical and petrochemical, and construction. Some of the key trends are:

The adoption of variable frequency drives (VFDs) to optimize the performance and reduce the energy consumption of electric motors. VFDs can adjust the speed and torque of motors according to the load and process requirements, resulting in significant energy savings and lower maintenance costs. VFDs are especially useful in applications that involve variable loads, such as pumps, fans, and compressors.

The integration of safety drives and motors with advanced technologies, such as Internet of Things (IoT), artificial intelligence (AI), and cloud computing, to enable remote monitoring, diagnostics, and control of industrial processes. These technologies can enhance the safety, efficiency, and productivity of industrial operations, as well as provide real-time data and insights for decision making and optimization.

The development of new and innovative products and solutions to meet the specific needs and challenges of different industries and applications. For instance, GE has developed a complete solution to drive the main refrigerant compressors using electrical motors powered by high-power drives based on thyristor or IGBT technology, which can improve the performance and reliability of liquefied natural gas (LNG) supply chain. Leroy Somer has introduced a range of synchronous reluctance motors that combine the advantages of permanent magnet and induction technologies, offering high efficiency, low noise, and reduced maintenance for industrial applications.

This report presents a comprehensive overview, market shares, and growth opportunities of Safety Drives and Motors market by product type, application, key manufacturers and key regions and countries.

Segmentation by type
AC
DC

Segmentation by application
Energy and Power
Manufacturing
Mining
Oil and Gas
Chemical and Petrochemical
Construction
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Rockwell Automation Inc.
SIGMATEK Safety Systems
ABB Ltd
Beckhoff Automation GmbH
KOLLMORGEN Corporation
Siemens AG
KEBA Corporation
Hoerbiger Holding AG
Pilz International
WEG SA

Key Questions Addressed in this Report

What is the 10-year outlook for the global Safety Drives and Motors market?

What factors are driving Safety Drives and Motors market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Safety Drives and Motors market opportunities vary by end market size?

How does Safety Drives and Motors break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.