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Global Explosion-proof Electric Motors and Actuators Market 2019-2023

Global Explosion-proof Electric Motors and Actuators Market 2019-2023

About this market

Growing need for customized and compact explosion-proof motors to drive growth in the market. Vendors are constantly trying to differentiate their products. The stringent regulations norms regarding the equipment safety in harsh environments have prompted the vendors to constantly improve their explosion-proof motors products. The growing variations of applications, varying climatic conditions, and the severity of operations have encouraged vendors to expand their product portfolios. Technavio’ s analysts have predicted that the explosion-proof electric motors and actuators market will register a CAGR of almost 5% by 2023.

Market Overview

Increasing demand for servo and brushless explosion-proof motors

Servo and brushless type of explosion-proof motors are used in a wide range of applications in process and discrete industries such as robotics, conveyers, compressors, and material handling equipment. The growing robotic and automation technologies in industries have increased the need for integrated servo and brushless explosion-proof motors. Most of these robotics and automation activities are carried out in potentially explosive atmospheres.

Volatility in raw material prices affecting profit margins

Instability in the prices of raw materials affects the cost of production. Therefore, many key vendors have long-term contracts with suppliers to reduce the impact of the fluctuation in the prices of raw materials on their businesses. However, small vendors do not have such contracts.

For the detailed list of factors that will drive and challenge the growth of the explosion-proof electric motors and actuators market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including Siemens and WEG the competitive environment is quite intense. Factors such as the rising need for customized and increasing demand for servo and brushless explosion-proof motors, will provide considerable growth opportunities to explosion-proof electric motors and actuators manufactures. ABB, Emerson Electric, Flowserve, Rockwell Automation, Siemens, and WEG are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Explosion-Proof Electric Motors and Actuators Market 2019-2023

Technavio recognizes the following companies as the key players in the global explosion-proof electric motors and actuators market: ABB, Emerson Electric, Flowserve, Rockwell Automation, Siemens, and WEG.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising need for customized and compact explosion-proof motors.”

According to the report, one of the major drivers for this market is the increasing demand for servo and brushless explosion-proof motors.

Further, the report states that one of the major factors hindering the growth of this market is the volatility in raw material prices affecting profit margins.

Companies Mentioned

ABB
Emerson Electric
Flowserve
Rockwell Automation
Siemens
WEG

  • Executive Summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global industrial chain drives market
      • Table Segments of global industrial chain drives market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • Electric motors - Market size and forecast 2018-2023
      • Table Electric motors - Market size and forecast 2018-2023 ($ millions)
      • Table Major instances of explosion due to dust in process industry 2016
      • Table Electric motors - Year-over-year growth 2019-2023 (%)
    • Actuators - Market size and forecast 2018-2023
      • Table Actuators - Market size and forecast 2018-2023 ($ millions)
      • Table Actuators - Year-over-year growth 2019-2023 (%)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Market segmentation by end-user
    • Table End-user - Market share 2018-2023 (%)
    • Comparison by end-user
      • Table Comparison by end-user
    • Oil and gas - Market size and forecast 2018-2023
      • Table Oil and gas - Market size and forecast 2018-2023 ($ millions)
      • Table Oil and gas - Year-over-year growth 2019-2023 (%)
    • C&P - Market size and forecast 2018-2023
      • Table C&P - Market size and forecast 2018-2023 ($ millions)
      • Table C&P - Year-over-year growth 2019-2023 (%)
    • M&M - Market size and forecast 2018-2023
      • Table M&M - Market size and forecast 2018-2023 ($ millions)
      • Table M&M - Year-over-year growth 2019-2023 (%)
    • Power - Market size and forecast 2018-2023
      • Table Power - Market size and forecast 2018-2023 ($ millions)
      • Table Power - Year-over-year growth 2019-2023 (%)
    • Others - Market size and forecast 2018-2023
      • Table Others - Market size and forecast 2018-2023 ($ millions)
      • Table Others - Year-over-year growth 2019-2023 (%)
    • Market opportunity by end-user
      • Table Market opportunity by end-user
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 ($ millions)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 ($ millions)
      • Table Americas - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Method of classification of hazardous location
    • Market challenges
      • Table Cumulative growth in raw material prices (June 2016-Mar 2017)
      • Table Decline in global commodity metal price index 2012-2015 (%)
      • Table Impact of drivers and challenges
  • Market Trends
    • Development of smart actuators
    • Growing need for customized and compact explosion-proof motors
    • Gradual recovery in up-stream activity
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • ABB
      • Table ABB - Vendor overview
      • Table ABB - Business segments
      • Table ABB - Organizational developments
      • Table ABB - Geographic focus
      • Table ABB - Segment focus
      • Table ABB - Key offerings
    • Emerson Electric
      • Table Emerson Electric - Vendor overview
      • Table Emerson Electric - Business segments
      • Table Emerson Electric - Organizational developments
      • Table Emerson Electric - Geographic focus
      • Table Emerson Electric - Segment focus
      • Table Emerson Electric - Key offerings
    • Flowserve
      • Table Flowserve - Vendor overview
      • Table Flowserve - Business segments
      • Table Flowserve - Organizational developments
      • Table Flowserve - Geographic focus
      • Table Flowserve - Segment focus
      • Table Flowserve - Key offerings
    • Rockwell Automation
      • Table Rockwell Automation - Vendor overview
      • Table Rockwell Automation - Business segments
      • Table Rockwell Automation - Organizational developments
      • Table Rockwell Automation - Geographic focus
      • Table Rockwell Automation - Segment focus
      • Table Rockwell Automation - Key offerings
    • Siemens
      • Table Siemens - Vendor overview
      • Table Siemens - Business segments
      • Table Siemens - Organizational developments
      • Table Siemens - Geographic focus
      • Table Siemens - Segment focus
      • Table Siemens - Key offerings
    • WEG
      • Table WEG - Vendor overview
      • Table WEG - Business segments
      • Table WEG - Organizational developments
      • Table WEG - Geographic focus
      • Table WEG - Segment focus
      • Table WEG - Key offerings
  • Appendix
    • Research methodology
    • List of abbreviations
  • Explore Technavio

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