Motor is a crucial piece of machinery used in the working of any industrial sector. Due to the existence of number of hazardous zones in the industrial sectors, the need for safety drives and motors have become imperative.
Safety motors possess features which provides resistance to hazards by controlling speed and torque of the system. These devices also lead to optimal process control and significant energy savings.
The safety drives provide features that help reduce & minimize machine time and increase productivity while keeping both the personnel as well as the equipment safe from any kind of damage.Market Dynamics
Over the forecasted period, the global market for Safety drives and motors is expected to grow at a CAGR of approximately 6.7% .
The primary factors contributing to the growth of Global market of Safety drives and Motors are surging demand forIndustry Safety Standards, Safe Equipment, and need for cost-effective systems. Also, technological innovation and designing of flexible systems that can offer reliable functionality as well as the high degree of cost-effectiveness, further fuels the growth of global market.
The complexity of industry- wide standards that are referred top globally, posed the biggest challenge for the industry in terms of usability & acceptability.Market Segmentation
The Global market for Safety Drives market can be broadly segmented on the basis of:
Types - includes AC Drives, DC Drives and others. Over the forecasted period, this segment is expected to witness the largest growth, accounting for the maximum market share.
Application - consist of different industries like: Pharmaceutical, Energy & Power, Petroleum & Chemicals, Oil & Gas, Construction and others. In the years to come, with all the major developments in Energy & Power and construction industry, demand for safety drives & motor is expected to grow at a tremendous rate.
Globally, North America accounts for the largest market for safety drives and motors, followed by Europe, Africa and Asia Pacific. Over the forecasted period, emerging economies are expected to witness the fastest growth due to increased awareness and demand coming as a result of increased urbanisation.Key Players
Some of the major players in the global market for safety drives and motors are as follows : Rockwell Automation, ABB Limited, Beckhoff, SIGMATEK Safety Systems, Siemens, B&R, Hoerbiger, Pilz, WEG,KOLLMORGEN, GE, Schneider Electric, Solomon, KEBA, CG Global and others,Report Contents
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key PlayersRegional Analysis:
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.Report Highlights:
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology
> Extensive Industry Structure Coverage
Publisher Name : Market Litmus