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Download Free sampleThe global Industrial Motors market was valued at 4899.48 Million USD in 2021 and will grow with a CAGR of 3.14% from 2021 to 2027, based on HNY Research newly published report.
The prime objective of Industrial Motors Market is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, Industrial Motors Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
Motor is a device that transfer power between electric power and mechanical power. Just as the name implies, industrial motors are motors used in the various industries.As an important device in various industries, the development of industrial motors have a close relationship with the development of manufacturing industries. The global average price of Industrial Motors is in the decreasing trend, from 41.1 USD/KW in 2012 to 38.8 USD/KW in 2016. With the situation of global economy, prices will be in decreasing trend in the following five years. North America and Europe account for 20.15% and 21.76% market share in 2016 respectively. As developed region, the growth rate of industrial motors are as low as less than 3%. On the other hand, the development speed of industrial motor in China and other Asian countries is relatively high. Besides, China is also the largest consumption market with market share of 29.59%. Market Concentration Rate is relative low though the top 10 manufacturers occupies nearly 41% market share in 2016. There are still thousands of manufacturers participated in this market.
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