Motors and Drives Market in Process Market: Global Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2021-2026” provides a deep and thorough evaluation of the global Motors and Drives Market in Process market based on its segments including type, end-use, and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter’s Five Forces models.
Historical Year: 2015-2020
Base Year: 2020
Forecast Year: 2021-2025
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Motors represent a mechanical or electrical system that generates linear or rotational force to power a machine, while drives are electronic devices that control and harness the electric energy sent to the motors. The drive feeds electricity into the motor in varying amounts and at varying frequencies, thereby indirectly controlling its speed and torque.
They offer several advantageous properties, such as high torque density, high-resolution precision feedback, and minimal energy consumption. Motors and drives also improve the efficiency of machinery. As a result, they find wide-ranging applications across numerous industries, including chemical, oil and gas, food and beverage, and textile and power.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience and overall performance of businesses.
Global Motors and Drives Market in Process Industry Trends and Drivers:
The expanding automobile sector is one of the key factors driving the motors and drives market in process market. Apart from this, the inflating utilization of automation techniques and energy-saving equipment in factories and other industrial units is further catalyzing the market growth.
Moreover, numerous technological advancements, such as the integration of connected devices with artificial intelligence (AI) and the Internet of Things (IoT), are acting as growth-inducing factors. Besides this, the growing requirement of lightweight materials to create gear systems for remotely assisted products, including drones and small-sized robots, is also augmenting the global market.
Additionally, several other factors, including the elevating adoption of advanced refrigeration systems in the food processing sector and the emerging trend of Industry 4.0, are anticipated to fuel the motors and drives market in the process market over the forecasted period.
Global Motors and Drives Market in Process Market Segmentation:
The market is segmented on the basis of type, end-use, and region.
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report also provides insights on the competitive landscape of the global motors and drives market in process with the leading players profiled in the report.
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