A Global Update on the Markets for Motors, Drives, and Motor-Driven Equipment

This chapter highlights the findings of the latest analysis by IHS Markit on the global markets for low-voltage (LV) motors, variable frequency drives (VFDs), and motor-driven equipment, such as pumps, fans, and compressors. It will summarize how these markets are segmented by technology, geographic region, industry sector, and other emerging trends. In addition to presenting market data, the presentation will include an analysis of the current competitive environment for these products, including market shares of leading suppliers. A discussion on the impact of recent and impending energy-efficiency regulation initiatives will also be included in this presentation. Specifically, emerging and lesser-used technologies like permanent magnet motors, sensors, and other energy-saving methods will be assessed in order to show how commonplace these promising products are adopted. The main goal of this presentation will be to help the reader understand how much of a disconnect exists between government-led agendas and market-generated demand. Has the Industrial Internet of Things (IIoT) and similar initiatives such as Industry 4.0 become more pressing a topic for end users compared to a more efficient component or even a more efficient motor-driven system?