Hazardous Location Motor Trends and Forecast
The future of the global hazardous location motor market looks promising with opportunities in the petroleum refining plant, dry cleaning facility, spray painting and finishing area, utility gas plant, and fire work plant applications. The global hazardous location motor market is expected to reach an estimated $7.4 billion by 2030 with a CAGR of 4.7% from 2024 to 2030. The major drivers for this market are growing preference for industrial automation, expanding demand for integrated servo and explosion-proof brushless motors,and substantial use of this motor for thermal overload protection.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Hazardous Location Motor by Segment
The study includes a forecast for the global hazardous location motor by type, application, end use industry, technology, and region
Hazardous Location Motor Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Explosion-Proof General Purpose Motors
• Drill Rig Duty Motors
• Explosion-Proof Pump Motors
• Explosion-Proof Inverter Duty Motors
• Others
Hazardous Location Motor Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Petroleum Refining Plants
• Dry Cleaning Facilities
• Spray Painting and Finishing Areas
• Utility Gas Plants
• Fire Work Plants
• Others
Hazardous Location Motor Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Hazardous Location Motor Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies hazardous location motor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the hazardous location motor companies profiled in this report include-
• Brook Crompton
• ABB
• GE
• Stainless Motors
• Bluffton Motors Works
• Dietz Electric
• Emerson Industrial Automation
• WEG
• Rockwell Automation
• Nidec Motor
Hazardous Location Motor Market Insights
Lucintel forecast that explosion-proof general purpose is expected to witness highest growth over the forecast period.
Petroleum refining plant will remain the largest segment due to significant use of hazardous motors in this sector in order to handle highly flammable substances effectively and safely.
APAC is expected to witness highest growth over the forecast period due to rising number of oil and gas reserves, rapid industrialization, and continous expansion of manufacturing hubs in the region.
Features of the Global Hazardous Location Motor Market
Market Size Estimates: Hazardous location motor market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Hazardous location motor market size by type, application, and region in terms of value ($B).
Regional Analysis: Hazardous location motor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the hazardous location motor market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the hazardous location motor market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the hazardous location motor market size?
Answer: The global hazardous location motor market is expected to reach an estimated $7.4 billion by 2030.
Q.2 What is the growth forecast for hazardous location motor market?
Answer: The global hazardous location motor market is expected to grow with a CAGR of 4.7% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the hazardous location motor market?
Answer: The major drivers for this market are growing preference for industrial automation, expanding demand for integrated servo and explosion-proof brushless motors, and substantial use of this motor for thermal overload protection.
Q4. What are the major segments for hazardous location motor market?
Answer: The future of the hazardous location motor market looks promising with opportunities in the petroleum refining plant, dry cleaning facility, spray painting and finishing area, utility gas plant, and fire work plant applications.
Q5. Who are the key hazardous location motor market companies?
Answer: Some of the key hazardous location motor companies are as follows:
• Brook Crompton
• ABB
• GE
• Stainless Motors
• Bluffton Motors Works
• Dietz Electric
• Emerson Industrial Automation
• WEG
• Rockwell Automation
• Nidec Motor
Q6. Which hazardous location motor market segment will be the largest in future?
Answer: Lucintel forecast that explosion-proof general purpose is expected to witness highest growth over the forecast period.
Q7. In hazardous location motor market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to rising number of oil and gas reserves, rapid industrialization, and continous expansion of manufacturing hubs in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the hazardous location motor market by type (explosion-proof general purpose motors, drill rig duty motors, explosion-proof pump motors,explosion-proof inverter duty motors, and others), application (petroleum refining plants, dry cleaning facilities, spray painting and finishing areas, utility gas plants, fire work plants, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Hazardous Location Motor Market, Hazardous Location Motor Market Size, Hazardous Location Motor Market Growth, Hazardous Location Motor Market Analysis, Hazardous Location Motor Market Report, Hazardous Location Motor Market Share, Hazardous Location Motor Market Trends, Hazardous Location Motor Market Forecast, Hazardous Location Motor Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.