Albany, NY -- (SBWIRE) -- 10/12/2018 -- Integral Horse Power Motors are electrical motors which have horse power rating of 1 or above. These motors are highly energy efficient in nature and used across various application areas. The market is expected to grow during the forecast period. The rising global awareness to save energy is driving the market for integral horsepower motors as these motors are highly energy efficient in nature. Furthermore, the industries are using these motors to save on their electrical expenditures and hence reducing their operating costs. The integral horsepower motors are divided in two categories, three phase and single phase integral horse power motors. Each of these types of motors have a wide area of applications such as refrigeration, heating and cooling, air conditioning, swimming pools, industrial applications and commercial HVAC among others. The improving economical conditions in the European regions are expected to the drive the market with the increasing demand for automotives and growing industrial applications. Furthermore, the changing government regulation in Europe and North America markets is encouraging the use of energy efficient motors. In addition, the growing awareness for alternate sources of energy such as water and waste water is also spurring the growth of integral horsepower motors. These factors are driving the growth for this market.
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However, the higher initial cost of installing these motors is acting as a major barrier in the growth of this market. The market is expected to witness growth during the forecast period due to the presence of developing regions such as India and China. The ongoing industrialization in these regions will act as an opportunity for the integral horsepower motors market. Furthermore, the schemes initiated by governments to encourage the companies to upgrade their motors for higher efficiency will also act as an opportunity for the integral horsepower motors market.
The integral horsepower motors market can be segmented into three categories: by types, application and region. By types the integral horsepower motors can be divided into small, medium and large motors. In terms of application, the market can be segregated into automotive industries, mining, power generation, food and beverages and HVAC segments. The automotive segment has major application for integral horsepower motors and is expected to witness steady growth during the forecast period.
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The integral horsepower motors are dominated by several players across the globe. Some of the key players in the market include ABB Ltd, Brook Crompton, Allied Motion Technologies, ARC Systems, Danaher Corporation, Rockwell Automation, TECO Westinghouse, Toshiba Corporation, Siemens AG, Emerson Electric and Regal Beloit among others.