Direct Current (DC) Motor Market Trends

Statistics for the 2023 & 2024 Direct Current (DC) Motor market trends, created by Mordor Intelligence™ Industry Reports. Direct Current (DC) Motor trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Direct Current (DC) Motor Industry

Oil & Gas to Witness Major Growth

  • Electric motors play a crucial role in the oil and gas industry by delivering a steady and dependable power source to drill rig systems and equipment. DC motors are specifically utilized to ensure a consistent and reliable power supply to drilling rig systems and equipment. These motors are instrumental in supporting various operations such as the extraction, processing, storage, and transportation of commodities like crude oil, petroleum, and natural gas.
  • The extraction of oil and natural gas from reservoirs in the oil and gas sector relies on drilling rig equipment for both onshore and offshore drilling activities. These drilling rig equipment extensively utilize DC motors as their power source. These DC motors are specifically designed to withstand the challenging conditions commonly found in oil and gas settings, such as vibration, extreme temperatures, frequent impacts, corrosive environments, and more. As a result of their exceptional performance, the utilization of DC electric motors in onshore oil and gas industries has a notable significance.
  • The International Energy Agency (IEA) has projected that the peak of global oil and gas demand will occur by 2030, despite the existing policy settings. According to the IEA, there will be an approximate increase of eight million barrels per day (bpd) in global demand by the end of the decade, which will lead to a greater requirement for offshore activities. Consequently, there is an anticipated surge in the demand for AC motors due to the growth in offshore operations and investments. These motors are utilized in various offshore applications, including powering winches and windlasses, cement pumps, propulsion, and thrusters.
  • DC motors are highly suitable for offshore drilling activities due to their ability to provide variable speeds to essential equipment such as mud pumps, drawworks, rotary tables, and top drives. Offshore drilling rigs play a significant role in the global oil rig count, with 272 active rigs worldwide in November 2023, over 91 of which are located in the Asia-Pacific region, as reported by Baker Hughes. The renewed search for offshore petroleum is driven by a combination of factors, including increased global energy demand, supply disruptions caused by the conflict in Ukraine, and crude oil prices that have remained elevated compared to pre-pandemic levels.
Direct Current (DC) Motor Market: Number of Oil and Gas Rigs Worldwide as of November 2023, by Region and Type

Asia-Pacific is Expected to Witness Significant Growth

  • The China DC motors market is poised for significant growth in the coming years. Several factors drive the market, including the increasing demand for EVs, the growing automation in the Chinese manufacturing sector, and the rising demand for consumer electronics in China.
  • In China, it is anticipated that smart manufacturing endeavors will facilitate the utilization of industrial DC motors. The Ministry of Information Technology has reported the initiation of numerous smart manufacturing pilot projects in the country. Furthermore, as outlined in the 13th smart manufacturing five-year plan, the government intends to enhance its smart manufacturing system and achieve a comprehensive transformation of key industries by 2025. Such initiatives are expected to drive the adoption of DC motors across the country's sectors.
  • With the rapid growth of both India's population and its industrial sector, there has been a significant increase in the volume of wastewater. This alarming rise has prompted the country's need for wastewater treatment plants. According to NITI Aayog, the market value of these treatment plants in India is projected to reach USD 4.3 billion by 2025. This growth is primarily driven by the rising demand for nationwide municipal and sewage water treatment facilities. To efficiently and effectively move water through the treatment process, water treatment plants heavily rely on pump and motor systems. Consequently, the increasing demand for these treatment plants nationwide will also drive the demand for DC motors.
  • Moreover, the market's expansion in this area is primarily due to technical advancements and the increased usage of automation technologies across various end-user industries. Other significant drivers driving the DC Motor demand in the country include rapid urbanization, complementary technical improvements, favorable government regulations, and robust FDI inflows.
Direct Current (DC) Motor Market: Market CAGR (%), By Region, Global

Direct Current (DC) Motor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)