The new report by Expert Market Research titled, ‘Global Inverter Duty Motors Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Inverter Duty Motors Market, assessing the market based on its segments like construction material, standard, application, end-use, and region. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
• Forecast CAGR (2021-2026): 6%
Market Overview (2016-2026)
Manufacturing is one of the most energy-intensive industries on the planet. As motors are large energy consumers, a range of energy-saving strategies are being offered, such as the use of high-efficiency motors, variable speed drives (VSD), and capacitor banks, to raise the power factor. Motors with better service, reduced waste heat output, longer insulation and bearing life, and less friction are often more energy efficient. As a result, the market for inverter duty motors is being driven by the growing demand for energy-efficient motors. Leading corporations are expanding their investments in the development of energy-efficient engines, which is a good thing.
Industry Definition and Major Segments
A motor whose speed is controlled by an inverter or variable frequency drive is frequently referred to as “inverter-duty” (VFD). Although both inverter-duty and ordinary motors can use VFDs, there are some fundamental distinctions in construction and functionality. The increased warmth induced by harmonics is tolerated by inverter duty motors. At lower speeds than recommended, the shaft-mounted fans are unable to provide enough cooling air. The inverter motors include added features that allow for adequate cooling even at low speeds.
Based on their construction material, they can be categorised as:
• Cast Iron
• Laminated Steel
On the basis of standard, the market is segmented into:
By application, the industry is bifurcated into:
Based on end use, the market is categorised into:
• Metal and Mining
• Chemicals and Oil and Gas
• Paper and Pulp
• Food and Beverage
On the basis of region, the market is segmented into:
• North America
• Latin America
• Middle East and Africa
Pumps account for a considerable portion of the sector in terms of application. The chemical production, metal and mining, and food and beverage industries are all seeing an increase in the use of inverter duty motors for pump applications. Meanwhile, extruders are widely utilised in the rubber, plastic, and food processing industries, where manufacturers rely on decreased energy costs, increased manufacturing capacity, and reliability, all of which are likely to boost demand for inverter duty motors in the projection timeframe. The use of energy-efficient motors is mostly concentrated in developing economies, which is likely to fuel market growth. As a result, rising demand for energy-efficient motors is expected to lead to higher acceptance of inverter duty motors, propelling the global market for inverter duty motors in the future period.
Key Market Players
The major players in the market are Rockwell Automation, Inc., Regal Beloit Corporation, Nidec Motor Corporation, Havells India Ltd., ABB Ltd., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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