Vertical Motor Market Size, Share, Growth, and Industry Analysis, By Type (Vertical Hollow Shaft (VHS) Motor, Vertical Solid Shaft (VSS) motor and Others), By Application (Chemical, Oil & Gas, Water and Wastewater Treatment and Others.), Regional Forecast To 2031

Updated On: 29 April 2024

Vertical Motor Market REPORT OVERVIEW

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The global vertical motor market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Because they are designed to withstand significant axial loading but not significant radial loading, vertical motors can only be placed vertically on their flanged base. In essence, vertical engines are designed to power syphons. This suggests that they were specifically designed to handle axial or radial thrust. In contrast to outward and non-stop up syphons, which often require a combination of outspread and pivotal push, turbine, mixed flow, and propeller pumps typically have significant axial thrust. A gear system is used on the motor's output in this particular sort of electric motor. Costs and design complexity are reduced when a gear reducer or gearbox is integrated into an electric motor, especially when the machine is made for low speed and high torque applications.

Constant technological improvements in industrial sectors such as mining and agriculture keep demand for appropriate machinery healthy. Furthermore, a healthy increase in demand for packaged food and beverage goods worldwide, particularly in emerging nations, has had a substantial impact on the use of advanced food processing and packaging technology.

COVID-19 Impact: The COVID-19 Underlying Condition Crippled the Market Growth

The COVID-19 virus has been spreading since December 2019 to a large number of countries. A public health emergency was declared by the World Health Organization. Due to the lockdown ordered and social isolation requirements brought on by the virus's spread, the demand for vertical motor market share globally has drastically decreased in the first half of 2020. Due to the outbreak's global spread, both small and large businesses experienced significant losses and went through a very trying time.

LATEST TRENDS

"Energy Efficiency, Highest Quality and Renewable Energy Projects to Attract the Market Share"

When compared to traditional pump drive methods, vertical gear motors are significantly more advantageous for low-speed vertical pumping applications due to their great efficiency. These are the main driving forces behind the market expansion for vertical gear motors. The expansion of the vertical gear motor market is also anticipated to benefit from lower capital and maintenance expenses. Manufacturers of vertical gear motors are putting a lot of effort into product innovation using cutting-edge technology to provide the highest-quality and energy-efficient products, which might increase the market's profitability. With a rise in the number of renewable energy projects, the vertical gear motor market is anticipated to experience rapid expansion in the upcoming years.

Vertical Motor Market SEGMENTATION

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• By Type

Based on type the vertical motor market is classified as vertical hollow shaft (VHS) motor, vertical solid shaft (VSS) motor and others.

Vertical hollow shaft (VHS) is the leading part of the type segment.

• By Application

Based on application the vertical motor market is classified as chemical, oil & gas, water and wastewater treatment  and others.

Chemical is the leading part of the application segment.

DRIVING FACTORS

"Applications in Food and Beverages, Construction, Metal Processing to Boost the Market Share"

A major factor driving the expansion of the global market for vertical gear motors is the rising use of these motors in machinery for a variety of industries, including food and beverage, construction, and metal processing. For agricultural, domestic, and industrial uses, the extraction of river water has remained essential. For purposes ranging from paper production to energy production, industries have continued to rely on water drawn from nearby streams and rivers since well before the industrial revolution. Modern water extraction systems, on the other hand, include treatment procedures to guarantee that the water is in conformity with standards for process control, quality, and safety.

"Growing Demand for Industrial Machinery to Impact Growth in the Motor Market"

In many industrial industries, including construction & metal processing, food & beverage, transport & packaging, verticals motors are a standard part of the machinery. Recent years have shown that political unpredictability and slack in the energy markets are reducing industrial demand. Now, synchronised global expansion is having an impact on the cyclical nature of demand for industrial machines. The International Monetary Fund (IMF) released its assessment of the state of the world economy, forecasting a 3.6% expansion in 2017. Moreover, the projected worldwide economic growth for 2018 is 3.7%, with developing countries expected to have 4.9% growth and developed countries to experience 2%.

RESTRAINING FACTORS

"The Oil-Bath Lubrication to Restrain the Market from Product Utilization"

Vertical motors are exceptional in that they can support external thrust. To ensure optimum service and performance, the thrust bearings that enable this must be properly maintained. Viscosity changes in the oil can lead to leaks or overheating. It is advised against mixing different oils because they might not get along. Checking for water leaks in water cooling coils if they are being used. The vertical motors market growth is however constrained by the oil-bath lubrication, which is a unique factor for these motors and must be properly understood and maintained.

Vertical Motor Market REGIONAL INSIGHTS

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"The Asia Pacific region to Lead the Market With  Rising Agricultural Activities and River Water Extraction"

Due to the region's extensive industrialisation and infrastructure development, Asia-Pacific dominated the global market for gear motors. Asia-Pacific governments are actively concentrating on enhancing the current infrastructure. The two markets in the region that are expected to develop the fastest are India and China. The increment in the demand of rising agricultural activities, river water extraction and many more sectors in the North American region results in stimulating the vertical motor market growth.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players ,and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.

List of Market Players Profiled

• Toshiba (Japan)
• Siemens (Germany)
• GE (U.S.A)
• Nidec (Japan)
• Kirloskar Electric (India)
• WEG (Brazil)
• WorldWide Electric (U.S.A)
• ABB Motors and Mechanical (U.S.A)
• Leuco SpA (Thailand)
• Regal Beloit (U.S.A)
• Ecotech Machinery (U.S.A)
• Aurora Motors (U.S.A).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players,  recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.