According to a new report, published by KBV research, The Global Inverter Duty Motor Market size is expected to reach $9.7 billion by 2031, rising at a market growth of 9.4% CAGR during the forecast period.
The Laminated steel segment is registering a CAGR of 8.8 % during the forecast period. Laminated steel reduces eddy current losses, which are significant in motor cores. Eddy currents are loops of electrical current induced within conductors by a changing magnetic field. Laminating the steel (i.e., using thin sheets insulated from each other) limits these currents, leading to lower energy losses and improved efficiency.
The Chemicals segment led the Global Inverter Duty Motor Market by Industry Vertical in 2023; thereby, achieving a market value of $2.1 billion by 2031. Chemical processes can involve varying viscosities, flow rates, and load conditions. Inverter duty motors can handle these variable loads effectively, ensuring reliable operation and process stability.
The Pumps segment is growing at a CAGR of 8.5 % during the forecast period. Inverter duty motors offer precise control over motor speed and torque. This optimization helps maintain the pump’s efficiency across different operating conditions, leading to longer equipment life and reduced maintenance needs.
Full Report: https://www.kbvresearch.com/inverter-duty-motor-market/
The North America region dominated the Global Inverter Duty Motor Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.3 billion by 2031. The Europe region is anticipated to grow at a CAGR of 9% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 9.9% during (2024 - 2031).
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