Safety Drives and Motors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market can be segmented by Type (Drives (AC and DC), Motors (AC and DC)), End-user Industry (Energy & Power, Manufacturing, Mining, Oil & Gas, Chemical and Petrochemical, Construction) and Region.

Market Snapshot

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Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: North America
CAGR: 6.63 %

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Market Overview

The Global Safety Drives and Motors Market is projected to register a CAGR of nearly 6.63% during the forecast period (2020-2025). Drives and motors are used in many industrial operations, especially machinery and equipment. Most industrial operations rely on electric motors and drive systems to power and control machinery and equipment.

  • Electric motors are used to power a wide range of machinery, including conveyer systems and heavy industrial equipment. Growing adoption of automation has created a need for accurate control of industrial machinery to realize optimal use of resources and maintain predefined quality of operation.
  • Electric drives are deployed to control the movements and speeds of the machinery and other devices. This need is particularly high in manufacturing environments that deal with sensitive, fragile or explosive products. Growing focus on safety in such industries is driving the demand for safety drives and motor systems globally.
  • However, considerable slowdown in the mining industry is restraining the growth of the market. All the major mining giants, including countries, like Canada, Australia, Ukraine, Russia, etc., have recorded slow growth or in some case, decline in the mining market. Increasing regulatory constraints stand to be the major cause for slowdown in the market.

Scope of the Report

Oil and Gas, Petrochemicals and Chemicals, and Energy utility industries are the major sources of the demand for safety drives and motors in the current market scenario. Additionally, there is a considerable demand from manufacturing, mining and construction sectors owing to the rapid adoption of Industry 4.0 policies.

By Type
Drives
AC
DC
Motors
AC
DC
By End-user Vertical
Energy and Power
Manufacturing
Mining
Oil and Gas
Chemical and Petrochemical
Construction
Other End-user Verticals
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Oil & Gas to Occupy the Maximum Market Share

  • Electric drives and motors play a major role in the oil & gas production and distribution, pumping systems for oil and compression drive trains for gas infrastructure.
  • According to GE, unplanned outages from moto failure can cause a refinery revenue loss of USD 1.1 million for every half hour offline.
  • With this, VFDs (Variable Frequency Drives) are increasingly being used in the oil & gas industry to control the flow, by adjusting speed that avoids energy wastage in the throttling valves. 
  • France-based Leroy Somer is a pioneer in drive system for oil & gas supply chain. Some of their products are Dyneo® Permanent Magnet Synchronous Motors, ATEX Dust and Gas Safety Motors, Powerdrive MD2 AC Drives which are known for offering reliability, robustness, efficiency and flexibility.
  • GE is providing a complete solution to drive the main refrigerant compressors using electrical motors (synchronous or induction) powered by high-power drives based on thyristor technology (for LCI) or IGBT technology. This would assist LNG supply chain in processing, transport and distribution network. 
  • There are many active and planned project work in the oil and gas sector across the Middle East, which is the largest producer of oil & gas. 
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North America to Occupy Major Market Share

  • North America is one of the largest markets for safety drives and motors globally. The region has a high demand form the upstream oil and gas sector and industrial segment. In fact it is one of the largest adopter of industry 4.0 policies in the world. Additionally, the US government’s policies to increase production and depend less on exports is expected to be the primary driver for demand from the industrial sector.
  • According to BP Statistical Review of World Energy 2019, global oil production rose by 2.2 million b/d. Maximum net increase was accounted for by the US, with their growth in production of 2.2 million b/d. Growth in gas consumption was also driven by the United States at 78 bcm. 
  • Moreover, with the United States Department of the Interior (DoI) planning to allow offshore exploratory drilling in about 90% of the outer continental shelf (OCS) acreage, under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, the oil and gas sector in the region is expected to open up new opportunities to the market.
  • However declining mining industry in Canada is restraining the market growth in this region. According to the Mining Association of Canada, value of total mining projects planned and under construction from 2018 to 2028 has reduced by 55% since 2014. This was due to an increasing interest in Canada’s emerging cannabis sector, which gained attention after recreational use of marijuana was legalized in October 2018. 
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Competitive Landscape

The market is concentrated with some major players occupying maximum market share which are in demand by Oil and Gas, Petrochemicals and Chemicals, and Energy utility industries.  

  • June 2019 - The Linz-based KEBA Group acquired LTI Motion Group, a pioneer of drive solutions from Germany. It serves customers in mechanical engineering sectors. The acquisition makes KEBA a total solution provider in the area of industrial automation.
  • October 2018 - Rockwell Automation launched the Integrated Safety Functions Option Module which offers several safety functions based on IEC 61800-5-2 standards for Allen-Bradley PowerFlex 755 and 755T AC drives. It includes the ability to monitor speed, direction and position on an EtherNet/IP network.
  • September 2019 - Beckhoff Automation expanded its footprint in the Northeast region with new offices in Greater Boston and Philadelphia. It now offers educational opportunities for Beckhoff customers who want to increase their expertise in PC-based control, advanced motion control, mechatronics and EtherCAT industrial Ethernet technology.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Growing Adoption of automation has Created a Need for Accurate Control of Industrial Machinery, thus Helping in Market Growth

    4. 4.4 Market Restraints

      1. 4.4.1 Considerable Slowdown in Mining Industry due to Regulatory Constraints is Challenging the Market Growth

    5. 4.5 Value Chain n Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Drives

        1. 5.1.1.1 AC

        2. 5.1.1.2 DC

      2. 5.1.2 Motors

        1. 5.1.2.1 AC

        2. 5.1.2.2 DC

    2. 5.2 By End-user Vertical

      1. 5.2.1 Energy and Power

      2. 5.2.2 Manufacturing

      3. 5.2.3 Mining

      4. 5.2.4 Oil and Gas

      5. 5.2.5 Chemical and Petrochemical

      6. 5.2.6 Construction

      7. 5.2.7 Other End-user Verticals

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Rockwell Automation Inc.

      2. 6.1.2 SIGMATEK Safety Systems

      3. 6.1.3 ABB Ltd

      4. 6.1.4 Beckhoff Automation GmbH

      5. 6.1.5 KOLLMORGEN Corporation

      6. 6.1.6 Siemens AG

      7. 6.1.7 KEBA Corporation

      8. 6.1.8 Hoerbiger Holding AG

      9. 6.1.9 Pilz International

      10. 6.1.10 WEG SA

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Safety Drives and Motors Market market is studied from 2018 - 2026.

The Safety Drives and Motors Market is growing at a CAGR of 6.63% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Rockwell Automation Inc., SIGMATEK Safety Systems, ABB Ltd, Beckhoff Automation GmbH, KOLLMORGEN Corporation are the major companies operating in Safety Drives and Motors Market.

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