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Global Industrial Fractional Horse Power Motors Market - Top 3 Trends

 

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Fractional Horse Power Motors Market - Top 3 Trends

London, England - Technavio’s latest market research report on the global industrial fractional horse power motors marketprovides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global industrial fractional horse power motors market will grow at a CAGR close to 5% during the forecast period. The growing adoption of energy-efficient equipment across industries is a major factor driving the market’s growth.

To address the concern of rising energy costs worldwide, industries are increasingly focusing on using energy-efficient equipment in production processes as well as end-products. Motors are one of the biggest energy consumers in industries, comprising more than 60% of industrial energy, which incurs high energy cost and releases harmful carbon emissions. Energy consumption accounts for a large share of overhead costs in end-user industries such as oil and gas, pulp and paper and food and beverage.

Even though regulatory bodies have set standards for manufacturing motors, the energy and carbon emission limits vary from country to country. The designing of motor circuits is very challenging for manufacturers of motors to cater to these standards. Therefore, manufacturers are more focused on developing motors that simplify the requirements of various end-users in any region. High energy-efficiency and low carbon emissions are attributes of the industrial fractional horsepower motor. This trait of industrial fractional horsepower motors has helped the process and discrete industries in saving a large amount of energy, thereby reducing the variable overheads.

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The three emerging market trends driving the global industrial fractional horse power motors market according to Technavio research analysts are:

  • Predictive maintenance of motors using smart sensors
  • Improvement in motor efficiency
  • Growing demand for miniaturized motors

Predictive maintenance of motors using smart sensors

The overall productivity has increased due to the rise in adoption of IIOT in process and discrete industries. IIOT has helped industries to convert themselves into smart industries. Each component in these industries is connected to cloud technology, so that predictive maintenance can be performed. It becomes very difficult to keep a regular check on motors as industrial fractional horsepower motors are deployed inside the equipment.

“Motors are connected with smart sensors that send the information of a motor’s working condition to the cloud system. This system notifies plant offices about the need for maintenance of motors based on the automated algorithm. These smart sensors can be attached to the existing equipment and end-users need not revamp the infrastructure in order to deploy sensors and connect the motor to the entire plant through IoT,” says a senior analyst at Technavio for research on automation.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Global industrial fractional horse power motors market segmentation

This market research report segments the global industrial fractional horse power motors market into the following four major end-users (food and beverage, oil and gas, paper and pulp, and mining and metals) and three major regions (the Americas, APAC, and EMEA).

EMEA was the leading region for the global industrial fractional horse power motors market in 2017, accounting for a market share of 39%. EMEA is expected to increase its market share and register a positive growth during the forecast period.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

 

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