Rolled Steel Motor Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of 6.3 % during forecast period of 2019 to 2027.
AC induction motors are widely used to blowers, conveyors, power pumps and other industrial machinery. New launch in the rolled steel motor market have facilitated the initiation of electrical steel. A rolled steel motor is usually lighter and cooler than cast iron, which increases its demand in different industry verticals. Heavy utilization of electrical steel motors in the Electric Vehicle (EV) market has triggered their rising prominence in battery powered and hybrid electric vehicles (HEVs). Therefore, with the increasing implementation of electric vehicles by customers expected in the coming era, manufacturers in the rolled steel motor market can profit from this drift.
Rolled Steel Motor Market Drivers and Restrains
Manufacturers in the rolled steel motor market are evolving high performance electrical steel motors that shorten production cycles with less pressure and low temperature for curing in the EV landscape. For example, Voestalpine is a steel industry company announced the launch of backlack-v and isovac products that offer excellent stamping properties and minimal magnetization losses for constructors in the EV space. There is increasing demand for durable wash-down motors for numerous food & beverage applications. To address this rising demand, manufacturers in the rolled steel motor market are engineering efficient wash-down motors that stand up against the rigors of food processing and beverage manufacturing.
Manufacturers are increasing the application of rolled steel motors in other end markets such as pharmaceutical packaging, meat packaging, and sugar refining. Rolled steel motors have a stabilized market growth in the heating, ventilation, and air conditioning (HVAC) sector. HVAC systems are becoming gradually conventional in new real estate and construction projects. The mandate for cast aluminum and iron rolled motors is growing significantly as compared to rolled steel motors. Furthermore, the choice of materials for manufacturing these motors can pose as a complicated challenge for manufacturers in the rolled steel motor market.
Manufacturers in the Rolled Steel Motor are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Rolled Steel Motor Market Segmentation Analysis
In terms of phase market is categorized into single phase and three phase. In single phase motors with feature of 1.15 service factor, high starting torque and IP55 protection. Furthermore, three phase motors are also inverter duty rated 3:1 CT and 5:1 VT. Industrial equipment requires single-phase or three-phase rolled steel motors for its working. Simplification of steel trade barriers in developing countries is expected to boost the sales of rolled steel motor products in the coming years. On the basis of power, rolled steel motor market segmented into 0 kW-7.5 kW, 5 kW-15.5 kW, 5 kW-29.5 kW and Above 29.5 kW. In terms of Industry, Rolled Steel Motor Market segmented into Food & Beverages, HVAC, and Marine, Mining, Pulp & Paper, Rubber & Plastics and Others. Heating, ventilation, and air conditioning (HVAC) sector segment is expected to grow at the highest XX% CAGR during the forecast period, by reasons of Rolled steel motors have a stabilized market growth in the HVAC sector. HVAC systems are becoming gradually conventional in new real estate and construction projects. Also, the production of rolled steel motors is projected to be the second-highest for the food & beverage sector.
Rolled Steel Motor Market Regional Analysis
According to report highest production in the rolled steel motor market is projected for an estimated output of XX Mn units by 2027. As a result of exception on custom duties for the manufacturing of steel products in India, market key players can rise their production abilities in a rapidly growing economy like India. Manufacturers should develop strategic links with stakeholders in the HVAC landscape, as HVAC systems have become the required industry standard for the construction of new buildings. North America is the second largest market in the rolled steel motor market and accounted for 27% shares in 2018, nearly follows Asia Pacific in terms of profits.
The objective of the report is to present comprehensive analysis of Rolled Steel Motor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Rolled Steel Motor Market dynamics, structure by analyzing the market segments, and project the Rolled Steel Motor Market size. Clear representation of competitive analysis of key players by Rolled Steel Motor Type, price, financial position, product portfolio, growth strategies, and regional presence in the Rolled Steel Motor Market make the report investor’s guide.
Scope of the Rolled Steel Motor Market
Rolled Steel Motor Market, by Phase
• Single Phase
• Three Phase
Rolled Steel Motor Market, by Power
• 0 kW-7.5 kW
• 5 kW-15.5 kW
• 5 kW-29.5 kW
• Above 29.5 kW
Rolled Steel Motor Market, by Industry
• Food & Beverages
• Pulp & Paper
• Rubber & Plastics
Rolled Steel Motor Market, by Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Rolled Steel Motor Market, Major Players
• ABB Ltd.
• Rockwell Automation
• Regal Beloit
• CG Power
• Industrial Solutions Limited
• General Electric
• Nidec Motor
• Marathon Electric
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