According to Future Market Insights, the crane motors market is projected to reach a value pool of US$ 30 billion by 2023’s end. Crane motor demand is anticipated to increase globally, reaching US$ 60 billion in 2033 at a CAGR of 7.2%.
Future Market Insights upcoming report on global Crane Motors market uncovers hidden opportunities and potential threats. The report gives an incisive coverage on the Crane Motors market through a detailed segmentation on its key growth drivers, opportunities, restraints and challenges expected to prevail the market in the upcoming years. According to FMI, the industrial automation industry is expected to have a positive outlook through 2021 and beyond.
Increasing usage of machines and demand for high-quality products in various industries coupled with the installation of smart devices in the machinery are some of the factors propelling the growth of Crane Motors market in the industrial automation industry. Industries are implementing automation to increase productivity and reduce labor costs. FMI provides detailed insights about the industry for the market players to craft their long-term strategies to maintain the competitive edge in the industry.
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To receive the detailed insights about the Crane Motors market, our experts relies on the primary and secondary research, and various wide range of data set gathered from organic and inorganic sources to provide estimates for the upcoming decade.
Understanding the Impact of Covid-19 on Industrial Automation Industry
The COVID-19 outbreak has been posing staggering challenges for the industry. Like other industries, the industrial automation industry has been particularly affected due to the lack of equipment and availability of the products. Furthermore, dearth of labor, factory closures, and supply restrictions induced by the pandemic crisis resulted in slight setback in 2020.
Lack of human assistance and key player’s hesitation in investing for high-end machineries during the pandemic has negatively impacted the industrial automation industry in 2020. However, with relaxation in lockdown, the Crane Motors market has picked up the pace.
The FMI’s recent report talks about the market scenario in the chapter on the Covid-19 impact analysis to aid the market players for the upcoming years. The report gives a detailed market analysis surrounding the market condition and its impact on the Crane Motors market.
Key Questions Answered in the Report
- What are the key trends and challenges that will affect global Crane Motors market in upcoming years?
- What are the factors that will influence the Crane Motors market demand?
- Which region will be the most lucrative for Crane Motors market throughout the forecast period?
- How will evolving regulatory policies impact the market growth?
- What is the impact of Covid-19 on the Crane Motors market?
Who are the Key Manufacturers and Suppliers of Crane Motors
Some of the leading manufacturers and suppliers of crane motors include
- Toshiba Corporation
- ABB Ltd
- Siemens AG
- WEG SA
- Regal Beloit
- Hyosung Ltd
- Nidec Corporation
- TECO- Westinghouse
- Kollmorgen Inc
- Lafert Group
- Brook Crompton
- Wolong Inc
- Jiamusi Electric Machine among others.
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Key Segments
By Motor Type:
- DC Motors
- AC motors
By Safety Type:
- EXd Type
- Increased-Safety Type
- Others
By Crane Type:
- Single Girder Overhead
- Double Girder Overhead
- Workstation
- Others
By End Use Industry:
- Construction
- Oil & Gas
- Mining
- Chemicals & Petrochemicals
- Industrial Processes
- Others
By Region:
- North America
- USA & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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