Rolled Steel Motor Market Size, Share, Growth Analysis Report by 2028

Rolled Steel Motor Market Insights

According to Zion Market Research, the global Rolled Steel Motor Market was worth USD 17.50 Billion in 2023. The market is forecast to reach USD 29.31 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Rolled Steel Motor Market industry over the next decade.

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Rolled Steel Motor Market Size

The global Rolled Steel Motor market accrued earnings worth approximately 10.1 USD Billion in 2020 and is predicted to gain revenue of about 15.8 USD Billion by 2028, is set to record a CAGR of nearly 6.1% over the period from 2021 to 2028. The report offers an assessment and analysis of the Rolled Steel Motor market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue USD Billion.

Rolled Steel Motor Market: Outlook

Rolled steel motor is an electrical strip that form a critical component of electric motor along with determining the proficiency of electric vehicles. Massive utility of rolled steel motors in electric vehicles is likely to facilitate demand for the product in automotive industry in next decade. With need for reducing fuel emissions from vehicles due to environmental concerns, the market for rolled steel motor is anticipated to expand assiduously in coming years. Apart from this, producers of rolled steel motors develop high-performance products.

Rolled Steel Motor Market: Growth Dynamics

Escalating demand for product in food & beverages sector will steer growth of rolled steel motor market. Apart from this, rise in utility of rolled steel motor in meat packaging, sugar refining, and pharmaceutical packaging activities will embellish growth rate of rolled steel motor industry during forecast period. The need for waterproof motors is anticipated to create new growth avenues for rolled steel motor industry during the assessment period. With use of high quality alloy steel resulting in reduction of manufacturing costs & material costs can prop up expansion of rolled steel motor market in upcoming timespan. In addition to this, large-scale use of carbon and tensile steel in the production of rolled steel motors provides strength & resistance to them, thereby aiding & contributing notably to the expansion of rolled steel motor industry.

Moreover, favorable government schemes supporting production of rolled steel motors in both emerging countries and developed markets will drive business trends. In addition to this, development of special economic zones providing tax benefits for firms has prompted the later to set up their production units in these zones, thereby assisting rolled steel motor market explore new dimensions of growth. Furthermore, best wear & tear resisting ability, high machinability, and exceptional vibration damping capacity will crop up growth of rolled steel motors market over forthcoming years.

Regional Insights

Asia Pacific Market To Witness Lucrative Growth During 2021-2028

Rapid expansion of rolled steel motor industry in Asia Pacific can be attributed to rise in smart city initiatives in Tier II and Tier III cities of India and China. In addition to this, increment in corporate business houses and production bases of reputed multinational firms in region will embellish market scope over the upcoming years. Large-scale utility of rolled steel motors in marine, power generation, HVAC, and mining sectors will proliferate regional market size. Rolled steel motors are preferred more than automated devices in automotive industry and this is anticipated to culminate into high product sales, thereby adding substantially towards regional market revenue.

Rolled Steel Motor Market: Report Scope

 Some of the leading in the global market include

• ABB Limited
• Siemens AG
• Rockwell Automation Inc.
• General Electric
• Toshiba Corporation
• Hitachi Limited
• Regal Beloit
• WEG
• Nidec Motor
• CG Power
• Industrial Solutions Limited.

The global Rolled Steel Motor Market is segmented as follows:

By Phase

• SINGLE PHASE
• THREE PHASE

By Power

• 0kW-7.5kW
• 7.5kW-15.5kW
• 15.5kW-29.5kW
• More Than 29.5kW

By End-Use

• Food & Beverages
• HVAC
• Marine
• Mining
• Pulp & Paper
• Rubber & Plastics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa