Asia Pacific (APAC) Industrial Motors Market Size, Share, Opportunities, And Trends By Motor Type (Direct Current, Alternating Current, Others), By Voltage (High, Medium, Low), By End-User (Oil And Gas, Mining, Food And Beverage, Construction, Manufacturing, Pulp And Paper, Water And Wastewater, Others), And By Country - Forecasts From 2023 To 2028

The Asia Pacific (APAC) industrial motor market is estimated to grow at a CAGR of 5.22%, reaching US$15.156 billion in 2028 from US$10.611 billion in 2021.

One of the primary factors driving the market in the APAC region is the increasing use of electric motors in industrial processes and auxiliary systems such as compressed air generation, ventilation, and water pumping. Initiatives for smart manufacturing are also anticipated to be a major factor in the use of industrial motors in the nation.

The government started several smart manufacturing pilot projects. For instance, in October 2022, the Indian government declared that it had opened 42 oil and gas blocks to worldwide competitive bidding for exploration and development. To increase local output and reduce dependency on imported fuel, India will more than quadruple the area under research for oil and gas extraction to 0.5 million square kilometers by 2025 and 1 million square kilometers by 2030. This would increase the need for industrial motors in the oil and gas sector.

Growing oil and gas industry

According to the Asia Investor Group on Climate Change's Asia's Net Zero Energy Investment Potential report, this industry is the world's largest and fastest-growing energy consumer and CO2 emitter. The continent has evolved into the biggest threat to the world's efforts to achieve net zero due to a single factor: the total dominance of the fossil fuel industry, with coal serving as the main source of electricity. Another key contribution is Asia's oil and gas sector, which will grow dramatically over the following years. Since industrial motors are utilized extensively in the petroleum business, their demand will rise in the coming years as Asia's oil and gas industry expands along with an increase in oil and gas consumption. For instance, as per the BP Statistical Review of World Energy 2021, total gas consumption in Asia Pacific increased from 866.9 thousand barrels per day in 2020 to 918.3 thousand in 2021.

Governmental Initiatives to drive market growth.

Further, government initiatives like "Make in India" and "Make in China" are also expected to promote and expand the use of industrial motors and accelerate the region's development. A Chinese corporation, Sinopec, is anticipated to invest over USD 31 billion in upstream exploitation in 2022, particularly for the crude oil in the Shunbei and Tahe areas and natural gas reserves in the Sichuan province and the Inner Mongolia region.

Additionally, an order enabling 100% foreign investment in oil and gas public sector Units was granted by the Indian government in July 2021. Furthermore, upstream and private sector processing projects for 100% foreign direct investment from investors.

The oil and gas segment end-user segment is expected to grow steadily over the forecast period.

The increasing use of industrial motors in the oil and gas sector is anticipated to increase demand for industrial motors in the coming years. Majorly these industrial motors are used for powering pumps and drilling rigs in refineries. The growing investment in oil and gas refineries in countries such as India and China will provide an edge for the market growth of industrial motors.

China remains the dominant market in the Asia Pacific region. 

The growing demand for industrial motors by enterprises operating across different industry verticals in China is anticipated to be one of the key factors augmenting the market growth. According to the Integrated Report 2021 by industrial motor manufacturer Mabuchi Motor, the company stated the sales of its motors, including industrial motors. China held the major share with about 33% of the company's total global sales, which was way ahead of the Americas at 18.1% and Europe at 21.3%.  

The major share of China in sales of globally renowned industrial motor manufacturers is one of the major reasons for the market propulsion in the coming years. In another instance, according to the September 2022 Resources and Energy Quarterly Report by the Department of Industry, Science and Resources, Australian Government, the consumption of refined copper by China increased from about 2.4 K tons in June 2021 to approximately 3.5 K tons by June 2022, which resulted in more than half of the total global consumption.

The growing consumption of refined copper correlates with the ever-increasing demand for crucial raw materials like copper for industrial motor manufacturing in China, implying market potential.

Market Developments:

• In January 2022, ABB launched a new range of low voltage Flameproof (FLP) for the oil and gas industry. According to the company, these machines are a safe choice for applications in potentially explosive environments and are more suited to be used in the oil and gas industry.
• In March 2022, Aramco announced a joint venture with Panjin Xincheng Industrial Group and North Huajin Chemical Industries Group Corporation. Aramco will supply 2,10,000 barrels of crude oil per day as a feedstock to the refinery complex in China, and the refinery is expected to be operational in 2024. Such projects demand a large number of industrial motors, and many such projects are anticipated to be held in the Asia Pacific region, boosting the demand for industrial motors for the oil and gas industry.

Asia Pacific (APAC) Industrial Motors Market Scope:

 

Report Metric	Details
Market Size Value in 2021	US$10.611 billion
Market Size Value in 2028	US$15.156 billion
Growth Rate	CAGR of 5.22% from 2021 to 2028
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Motor Type, Voltage, End-User, and Country
Regions Covered	Japan, China, India, South Korea, Indonesia, Taiwan, Thailand, Others
Companies Covered	ABB, Ametek, Emerson Electric, Rockwell Automation, Siemens, Schneider Electric, Toshiba Corporation, Technosoft, Fuji Electric, Nidec Corporation
Customization Scope	Free report customization with purchase

 

Market Segmentation:

• By Motor Type
  • Direct Current
  • Alternating Current
  • Others
• By Voltage
  • High
  • Medium
  • Low
• By End-User
  • Oil and Gas
  • Mining
  • Food and Beverage
  • Construction
  • Manufacturing
  • Pulp and Paper
  • Water and Wastewater
  • Others
• By Country
  • Japan
  • China
  • India
  • South Korea
  • Indonesia
  • Taiwan
  • Thailand
  • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Sources

2.3. Research Design

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. ASIA PACIFIC (APAC) INDUSTRIAL MOTOR MARKET BY MOTOR TYPE

5.1. Introduction

5.2. Direct Current

5.3. Alternating Current

5.4. Others

6. ASIA PACIFIC (APAC) INDUSTRIAL MOTOR MARKET BY VOLTAGE

6.1. Introduction

6.2. High

6.3. Medium

6.4. Low

7. ASIA PACIFIC (APAC) INDUSTRIAL MOTOR MARKET BY END-USER

7.1. Introduction

7.2. Oil and Gas

7.3. Mining

7.4. Food and Beverage

7.5. Construction

7.6. Manufacturing

7.7. Pulp and Paper

7.8. Water and Wastewater

7.9. Others

8. ASIA PACIFIC (APAC) INDUSTRIAL MOTORS MARKET BY COUNTRY

8.1. Introduction

8.2. Japan

8.2.1. By Motor Type

8.2.2. By Voltage

8.2.3. By End-User

8.3. China

8.3.1. By Motor Type

8.3.2. By Voltage

8.3.3. By End-User

8.4. India

8.4.1. By Motor Type

8.4.2. By Voltage

8.4.3. By End-User

8.5. South Korea

8.5.1. By Motor Type

8.5.2. By Voltage

8.5.3. By End-User

8.6. Indonesia

8.6.1. By Motor Type

8.6.2. By Voltage

8.6.3. By End-User

8.7. Taiwan

8.7.1. By Motor Type

8.7.2. By Voltage

8.7.3. By End-User

8.8. Thailand

8.8.1. By Motor Type

8.8.2. By Voltage

8.8.3. By End-User

8.9. Others

8.9.1. By Motor Type

8.9.2. By Voltage

8.9.3. By End-User

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. ABB

10.2. Ametek

10.3. Emerson Electric

10.4. Rockwell Automation

10.5. Siemens

10.6. Schneider Electric

10.7. Toshiba Corporation

10.8. Technosoft

10.9. Fuji Electric

10.10. Nidec Corporation

ABB

Ametek

Emerson Electric

Rockwell Automation

Siemens

Schneider Electric

Toshiba Corporation

Technosoft

Fuji Electric

Nidec Corporation