The European industrial motor market is expected to grow at a CAGR of 4.57% from an initial value of US$8.124 billion in 2021 and is estimated to reach a market size of US$11.111 billion in 2028.
The ongoing replacement of gas turbines with electric motors in large industrial plants coupled with expanding applications of industrial motors across the sectors drives the market growth. Moreover, strong automobile production and the rising popularity of electric vehicles further propel the demand for industrial motors in the European region. The rising popularity of energy-efficient industrial motors owing to growing concern among people regarding energy conservation coupled with the influential German market and developed economy are also some of the major growth factors. The primary source of power for industrial production in the region is industrial motors. Alignment, motor monitoring, connections, testing, and cost- and time-saving techniques are only a few of the cutting-edge methods used in the design and development of industrial motors.
Smart drives and energy-saving motors also improve productivity and effectiveness while streamlining troubleshooting. The market for industrial motors is primarily driven by the increased attention to industry 4.0. For instance, the Move to 4.0 project in the region is expected to bring about a revolutionary change to the manufacturing industry in the country, boosting the demand for industrial motors in the region, which is expected to drive the market to a great extent during the forecast period.
Rising EV adoption and growing government initiatives
The government of the UK has committed to reducing greenhouse gas emissions by 28% by 2035 and achieving a Net Zero by 2050. According to the government, transport, in particular, cars, is the largest source of emissions accounting for about 27%. Thus, transitioning from petrol and diesel cars to electric EVs is considered to be the key to reducing emissions and meeting Net Zero. Reflecting this, the UK Government has committed to ending the sale of new petrol and diesel cars/vans from 2030. This has also boosted the sales of EVs in the country, which is expected to augment industrial motor market growth in the region.
Recent Developments in the market
In Switzerland, in February 2021, ABB announced the launch of the company’s new Novolink™ smart device modules as an initiative to integrate industrial motor starting solutions into smart manufacturing strategies. The product delivers high-grade motor protection. It has been launched to enable predictive maintenance and real-time optimization at smart factory systems.
The European industrial motor market for the manufacturing segment is set to expand.
In Europe, over the past few years, the value added by the manufacturing sector has increased steadily. For instance, as per the World Bank, value added (manufacturing) by the countries in the European Union reached US$2,422,175.23 million in 2018. As of 2021, this value is estimated to be US$ 2,530,151.81 million. The expansion of the manufacturing sector in the region can be witnessed due to continuous business strategies undertaken by the market players as well as government agencies. For instance, the ‘Made in Europe’ partnership was launched by the European Commission in June 2021. The aim of the partnership is to maintain Europe’s sovereignty and technological leadership in the manufacturing sector. The initiative focuses on helping the respective companies to move toward sustainability, resilience, and digitalization.
Germany accounted for a sizeable market share owing to the favorable government strategies to boost industrial productivity in the country.
Based on country, Europe’s industrial motor market is divided into the United Kingdom, Germany, France, Italy, and others. In 2019, Germany’s Ministry of Economic Affairs issued its Industrial Strategy 2030 which aimed to strengthen the country’s industrial activity and improve technological autonomy. The implementation of new policies and initiatives by the German government to boost industrial production is also expected to provide a positive outlook to the overall market.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2021 | US$8.124 billion |
| Market Size Value in 2028 | US$11.111 billion |
| Growth Rate | CAGR of 4.57% from 2021 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2023–2028 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Motor Type, Voltage, Distribution Channel, Efficiency Classes, End-User Industry, And Countty |
| Regions Covered | United Kingdom, Germany, France, Italy, Others |
| Companies Covered | ABB, Ametek.Inc, Emerson Electric Co., Rockwell Automation, Inc., Siemens, Schneider Electric, Toshiba Corporation, Technosoft, Fuji Electric Co., Ltd, RobotShop Europe |
| Customization Scope | Free report customization with purchase |
Market Segmentation: