July 7, 2016 - 12:20 PM EDT
Print Email Article Font Down Font Up
Emerging Factory Automation Services Predicted to Drive the Global Motors and Drives Market in Process Industries Through 2020, Says Technavio

According to the latest research study released by Technavio, the global motors and drives market in process industries is expected to record a CAGR of around 7% until 2020.

This research report titled ‘Global Motors and Drives Market in Process Industries 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.

Request sample report: http://bit.ly/291Tt0I

“A large number of companies are investing in factory automation that needs installation of multiple high-end motors in various applications such as conveyer belts, compressors, and fans. Japan and China have invested heavily in automating most of their factories with high-end industrial robots. Companies are looking for a substitute to manual workforce because of aging population, shrinking workforce, and immigration control. Hence, industrial robotics has become an area of opportunity for motors and drives vendors,” said Bharath Kanniappan, one of Technavio’s lead analysts for automation.

Segmentation of global motors and drives market in process industries by end-users 2015

Oil and gas






Food and beverage




Source: Technavio research

Global motors and drives market in oil and gas industry

The global motors and drives market in the oil and gas industry was valued at USD 9.06 billion in 2015. The oil and gas industry is majorly driven by increased urbanization and the need to maintain the required level of oil repository to meet the B2B and B2C demand. However, some countries, such as China, are working to reduce reliance on coal to curb air pollution levels, leading to more investment in low voltage motors in the oil and gas refining process-lines. China has established market entry conditions for foreign players to encourage them to use clean energy such as natural gas. The government also announced a subsidy of USD 0.06 for every cubic meter of gas produced in the country.

China also holds the world’s largest shale gas reserves with more than 31 TCM of recoverable shale gas resources. The country is expected to invest USD 160 billion in shale gas development over the forecast period, which should increase its shale gas production from 1 BCM in 2014 to 3.5 BCM in 2015. These initiatives in China’s oil and gas industry should increase the demand for industrial valves.

Global motors and drives market in mining industry

The global motors and drives market in the mining industry was valued at USD 5.75 billion in 2015. Silver prices declined by 45.74% during 2011-2014. Similarly, gold, copper, and iron ore prices declined by 19.35%, 22.26%, and 42.25%, respectively, during the same time frame. Thus, shrinking prices and weakening global demand have turned away investors from the mining industry, putting projects on hold. These factors have muted the demand for low-voltage motors in the mining industry.

However, mining companies have started to make heavy investments in high-end machinery construction over the past two years as the industry is predicted to experience a positive growth during the forecast period. It has resulted in the development of high-end drives and motors for the extrusion and fracking machines.

Global motors and drives market in power industry

The global motors and drives market in the power industry was valued at USD 4.58 billion in 2015. The motors and drives market in the wind power industry is growing significantly due to large-scale installations of wind turbines in the US, China, Germany, Spain, and India. Globally, more than 53 GW of wind power installation were established in 2015 with China topping the list at 25 GW. In the first half of 2015, Germany installed 2 GW of offshore wind power. We note that government initiatives directed at environment-friendly clean energy power generation has expanded wind energy generation infrastructure in many countries. The governments in countries, such as Brazil, Mexico, South Africa, Canada, and Australia, are boosting such installations. High performance geared motor products, such as the 700-TW wind turbine pitch control gear motor from Bonfiglioli, are used in wind turbines to control the pitch and yaw drive systems.

Browse related reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
[email protected]

Source: Business Wire (July 7, 2016 - 12:20 PM EDT)

News by QuoteMedia

Legal Notice