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According to the latest research, the global Mining Motors market size was valued at USD 3762.0 million in 2022 and is expected to expand at a CAGR of 4.84% during the forecast period, reaching USD 4994.5 million by 2028.
A motor is an electrical device that converts electrical energy into mechanical energy, and can reuse mechanical energy to generate kinetic energy to drive other devices. Mining Motors mainly refers to motors used in the mining industry. Due to the specific operating conditions of mining, the deployed motors must meet high requirements.
Affect the normal operation of the industry
The unprecedented crisis brought about by COVID-19 in 2020 will continue to have a significant and significant impact on the global workforce, industries, countries and the global economy. In the short term, the management efficiency of mining motor companies has declined, commuting has been blocked, production plans have been blocked, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee income has fallen. The company's operating pressure will increase.
In the long run, as the epidemic gradually improves or ends, the global mining industry gradually recovers. The influence of the downstream mining industry on the mining motor industry will gradually weaken. Production and sales will return to the original level and gradually increase.
Logistics
Due to the epidemic situation, many countries have imposed controls on domestic transportation and the movement of people, and imposed restrictions on imported goods. This has led to various levels of logistics disruption, cargo accumulation and transportation delays. At present, the logistics industry in various countries is gradually recovering operations according to different national policies. It is expected that after the epidemic is further controlled, it will basically return to normal.
The development of online e-commerce promotes the sales of mining motors
For the mining motor industry, the increasing popularity of e-commerce has promoted the development of the industry. This is mainly due to online channels promoting product sales. As shoppers become more accustomed to buying goods online and retailers fine-tune e-commerce operations to deliver products faster, the share of online e-commerce in total retail sales is increasing every year. For manufacturers of mining motors, online sales can make the spread of product information wider and not restricted by time and space. Online e-commerce has broadened the sales channels of products due to its convenience and other characteristics, thereby promoting the development of mining motors.
The risk of full market competition
At present, there are a large number of companies engaged in mining motor related industries in the world, and the industry concentration is moderate. At the same time, the mining motor industry is in a state of full competition.
Although some companies temporarily present some advantages in the field of this product, they also show relatively strong competitiveness. But in the long run, it is not ruled out that other listed companies in the same industry and leading companies in the world may enter the industry. Under normal circumstances, listed companies or world-renowned companies have strong capital, scale and technological advantages. Based on the scale of production, popularity, production costs, product prices, upstream and downstream bargaining power, and customer bases, these enterprises may pose certain competitive pressures on small and medium-sized enterprises. At the same time, some small production companies that adopt low-price and low-quality competition strategies will disrupt the market order to a certain extent, posing a certain threat to enterprises in the industry.
Region Overview:
Geographically, China held the largest market share – 26.82% in 2022.
Company Overview:
ABB Ltd is one of the major players operating in the Mining Motors market, holding a share of 12.62% in 2023.
ABB Ltd
ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels.
Nidec Corporation
Based on "everything that rotates and moves", Nidec specializes in motor application products, focusing on the motor business, including a wide range of product lines from small precision motors to super large motors.
Segmentation Overview:
By type, Medium Voltage segment accounted for the largest share of market in 2022.
Application Overview:
By application, the Direct to OEM segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Mining Motors industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Mining Motors. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Mining Motors Market Report Include:
Market Size Estimates: Mining Motors market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Mining Motors market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Mining Motors market
Segment Market Analysis: Mining Motors market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Mining Motors market situations and prospects in major and top regions and countries
Mining Motors Market
Mining Motors Industry Chain: Mining Motors market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Mining Motors Industry News, Policies by regions
Mining Motors Industry Porters Five Forces Analysis
Key players in the global Mining Motors market are covered in Chapter 2:
Maxon Motor AG
Johnson Electric Holdings Limited
Toshiba International Corporation
ABB Ltd
Nidec Corporation
Siemens AG
Allen - Bradly Co. LLC (Rockwell Automation Inc.)
Ametek Inc.
Fuji Electric Co. Ltd
Franklin Electric Co. Inc.
WOLONG
Arc Systems Inc.
In Chapter 6 and Chapter 9, on the basis of types, the Mining Motors market from 2018 to 2028 is primarily split into:
High Voltage
Medium Voltage
Low Voltage
In Chapter 7 and Chapter 10, on the basis of applications, the Mining Motors market from 2018 to 2028 covers:
Direct to End User
Direct to OEM
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Mining Motors market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Mining Motors industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Mining Motors market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Mining Motors industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Mining Motors market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Mining Motors market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Mining Motors market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
A motor is an electrical device that converts electrical energy into mechanical energy, and can reuse mechanical energy to generate kinetic energy to drive other devices. Mining Motors mainly refers to motors used in the mining industry. Due to the specific operating conditions of mining, the deployed motors must meet high requirements.
Affect the normal operation of the industry
The unprecedented crisis brought about by COVID-19 in 2020 will continue to have a significant and significant impact on the global workforce, industries, countries and the global economy. In the short term, the management efficiency of mining motor companies has declined, commuting has been blocked, production plans have been blocked, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee income has fallen. The company's operating pressure will increase.
In the long run, as the epidemic gradually improves or ends, the global mining industry gradually recovers. The influence of the downstream mining industry on the mining motor industry will gradually weaken. Production and sales will return to the original level and gradually increase.
Logistics
Due to the epidemic situation, many countries have imposed controls on domestic transportation and the movement of people, and imposed restrictions on imported goods. This has led to various levels of logistics disruption, cargo accumulation and transportation delays. At present, the logistics industry in various countries is gradually recovering operations according to different national policies. It is expected that after the epidemic is further controlled, it will basically return to normal.
The development of online e-commerce promotes the sales of mining motors
For the mining motor industry, the increasing popularity of e-commerce has promoted the development of the industry. This is mainly due to online channels promoting product sales. As shoppers become more accustomed to buying goods online and retailers fine-tune e-commerce operations to deliver products faster, the share of online e-commerce in total retail sales is increasing every year. For manufacturers of mining motors, online sales can make the spread of product information wider and not restricted by time and space. Online e-commerce has broadened the sales channels of products due to its convenience and other characteristics, thereby promoting the development of mining motors.
The risk of full market competition
At present, there are a large number of companies engaged in mining motor related industries in the world, and the industry concentration is moderate. At the same time, the mining motor industry is in a state of full competition.
Although some companies temporarily present some advantages in the field of this product, they also show relatively strong competitiveness. But in the long run, it is not ruled out that other listed companies in the same industry and leading companies in the world may enter the industry. Under normal circumstances, listed companies or world-renowned companies have strong capital, scale and technological advantages. Based on the scale of production, popularity, production costs, product prices, upstream and downstream bargaining power, and customer bases, these enterprises may pose certain competitive pressures on small and medium-sized enterprises. At the same time, some small production companies that adopt low-price and low-quality competition strategies will disrupt the market order to a certain extent, posing a certain threat to enterprises in the industry.
Region Overview:
Geographically, China held the largest market share – 26.82% in 2022.
Company Overview:
ABB Ltd is one of the major players operating in the Mining Motors market, holding a share of 12.62% in 2023.
ABB Ltd
ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels.
Nidec Corporation
Based on "everything that rotates and moves", Nidec specializes in motor application products, focusing on the motor business, including a wide range of product lines from small precision motors to super large motors.
Segmentation Overview:
By type, Medium Voltage segment accounted for the largest share of market in 2022.
Application Overview:
By application, the Direct to OEM segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Mining Motors industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Mining Motors. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Mining Motors Market Report Include:
Market Size Estimates: Mining Motors market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Mining Motors market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Mining Motors market
Segment Market Analysis: Mining Motors market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Mining Motors market situations and prospects in major and top regions and countries
Mining Motors Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Mining Motors Industry Chain: Mining Motors market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Mining Motors Industry News, Policies by regions
Mining Motors Industry Porters Five Forces Analysis
Key players in the global Mining Motors market are covered in Chapter 2:
Maxon Motor AG
Johnson Electric Holdings Limited
Toshiba International Corporation
ABB Ltd
Nidec Corporation
Siemens AG
Allen - Bradly Co. LLC (Rockwell Automation Inc.)
Ametek Inc.
Fuji Electric Co. Ltd
Franklin Electric Co. Inc.
WOLONG
Arc Systems Inc.
In Chapter 6 and Chapter 9, on the basis of types, the Mining Motors market from 2018 to 2028 is primarily split into:
High Voltage
Medium Voltage
Low Voltage
In Chapter 7 and Chapter 10, on the basis of applications, the Mining Motors market from 2018 to 2028 covers:
Direct to End User
Direct to OEM
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Mining Motors market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Mining Motors industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Mining Motors market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Mining Motors industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Mining Motors market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Mining Motors market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Mining Motors market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
