According to the new market research report by IndustryARC titled, “Industrial Motors Market: By Voltage (Very Low, Low, Medium, High), By Product Type (AC, DC, EMC), By End User (Oil and Gas, Power Generation, Mining, Others) & Geography – Forecast (2018-2025)”, the market is driven by the increasing demand for industrial motors across all the regions.
The global market for Industrial Motors was worth $32.9 billion in 2017, and is projected to reach $40.43 billion by 2023 with a CAGR of 3.63% in the forecast period. The Oil & Gas remained the dominant end-user industry category for Industrial Motors market in 2017, with 28% share, followed by Mining & Metal, with 12% share.















