The market for integrated motors is set to experience impressive growth over the next half decade on the back of the cost reductions they can bring to large-scale machinery employed by industry.
According to a new report by industry consultancy IHS, the total market revenue for suppliers of integrated motors is set to rise from US$400 million in 2012 to US$553 million by 2017, for a near 40 per cent gain.
IHS says brushless motors will be a key driver of growth in the market, with AC brushless servo and DC brushless integrated motors accounting for over 70 per cent of the additional market revenue anticipated over the five-year period.
The packaging industry in particular will see a sharp rise in demand for AC brushless servo integrated motors given that they can reduce costs related to the cabling and central cabinets used for large-scale machines which possess multiple axes in the low- to mid-power range.
The IHS report, entitled Integrated Motors – World – 2013, predicts especially high growth during the period from 2014 to 2017, with the recession in Europe – which accounts for 65 per cent of total market revenue – stifling demand in 2012 and only weak growth expected this year as a consequence.
Despite expectations of an impressive annual growth rate of over seven per cent from 2014 to 2017, these levels remain well below the historical rate of expansion for the integrated motor market.
According to IHS’s figures yearly growth rates averaged in the double digits for much of the past decade, with the market expanding by over 300 per cent from 2002 to 2011.
“With a much higher global market size, the amount of revenue gained in the market each year would have to increase significantly for the historical growth rates to be maintained and this has not occurred,” said Michelle Figgs, analyst for motor controls and switchgear with IHS.
Figgs points out that integrated motors are continuing to erode the market share of conventional devices as a result of advantages including their compact size.
“Integrated motors continue to take share away from traditional motor and drive solutions, and motor suppliers are increasingly recognising the importance of including an integrated-motor option in their product portfolios to prevent loss of market share,” she said.