Industrial Motors Market - Forecast (2023 - 2028)

The global Industrial Motor Market size is expected to reach $33 billion by 2030, growing at a CAGR of 5.1% during the forecast period from 2023 to 2030.

Globally, increasing demand for industrial motors in the automotive and oil & gas industries is set to drive the Industrial Motor Market during the forecast period. Increasing investments for the expansion of oil and gas production across the world owing to the rising energy demands also trigger the growth of the market. Moreover, the increasing production of electric vehicles has accelerated the demand for industrial motors for higher efficiency and good speed regulation during the forecast period is also boosting the growth of the market.

Furthermore, the rising number of government incentives to encourage the use of energy-efficient industrial motors for safeguarding the environment from carbon emissions is also expected to drive market growth during the forecast period.



This product will be delivered within 2 business days.