Due to rapid industrialization, there has been significant growth in manufacturing industries all around the world. As a result, the demand for industrial motors has witnessed a significant increase over the years. As per industrial motors market analysis, it is expected that the global industrial motors market will reach the total value of $58.9 billion by the end of 2019 with an average growth rate of 7 percent. In the emerging economies, the increasing demand for motors by downstream industries is going to be a major driver of the industrial motor market. The regulations being placed by statutory authorities for replacing existing outdated motors with highly efficient motors are also going to be a major driver of the industrial motor market in the developed economies.

Due to its lower manufacturing cost and higher end-user demand, the Asia Pacific region is the fastest growing motor market. China is shifting towards IE2/GB3 motors that will lead to the highest growth rate of motor sales in China. Japan is also shifting towards IE3 industrial motors.

What is an Industrial motor?

A motor is a device that changes electrical energy into mechanical energy. The magnetic motors involve current carrying conductors and magnetic fields. Electric motors are widely used for commercial, industrial and residential applications like pumps, fans, elevators, compressors, and refrigerators. The electric motor also finds its application in heating, ventilation, motor vehicles, cooling equipment, and many other house appliances as well.

Many strict rules such as lower electricity consumption and raising awareness of reducing greenhouse gases are leading to an increase in the demand for new generation energy efficient motors all across the world.

Market size and analysis

In the coming years, the Asia Pacific region will continue to dominate the industrial motor market. Many developing countries are seeing a substantial increase in the demand for industrial motors from industrial consumers. Additionally, the growth in the infrastructure sector is also contributing to the rise in demand for motors.

In North America and Europe, the regulations of replacing the existing motors with high-efficiency new generation motors are also expected to contribute to the growing demand for motors. The demand in downstream industries in emerging economies is also set to boost the market for industrial motors in these regions.

In 2017, the global industrial motors market revenue was approximately $51.5 billion and by the end of 2019, it is predicted to reach a total valuation of $58.8 billion. The continuing trend of replacement of old motors with new motors also contributes to the expansion of the industrial motor market. The most common applications of industrial motors are blowers, pumps, industrial fans, material handling, and processing

As per latest research, around 193 million units of industrial motors were shipped in the year 2013 and the number is predicted to reach a total value of around 257 million units by 2019 with an average annual growth rate of 5 percent from 2014-2019. The integral horsepower motors that are the motors with power above 0.75 KW holds a large share of industrial motors market i.e. around 56 percent.

There is also a huge demand for custom made motors because of the extreme operating conditions and space constraints across various industries. Many industries such as cotton & pulp, paper & mining industry are registering impressive growth and are expected to boost motor sales substantially.

Drivers of the Motor market

The cost of electricity is increasing steadily across the world. As a result, it is important for manufacturing industries to ensure that they replace their old motors with new generation motors. This awareness has encouraged many manufacturers to purchase new industrial motors, thereby contributing to the growth of the market across the world.

The increase in energy costs will also contribute to the increasing demand for highly efficient motors. The ongoing research and development in motor technologies are predicted to expand its use in many other applications as well as leading to higher sales.

Constraints of Industrial motor market

There are many barriers in the adoption of highly efficient motors such as buyers or consumers being cost-oriented and thinking in terms of short term saving rather than focussing on the long term cost assessments. Also, in spite of buying a new motor, the consumers try to repair the existing motors.

Additionally, the low barriers to entry have led to many small manufacturers entering the industrial motors market. Thus, creating intense competition which drives down the profitability of the sector. It could lead manufacturers to use cheap quality raw materials to keep the costs down, thereby reducing the quality on offer.

Moreover, the standard life of an industrial motor is around 15 years, this means the frequency of repeat orders is reduced, restricting growth potential for small manufacturers.

There are various constraints posing a challenge to the growth of the industrial motor market but with growing usage across various industries, the future for the industrial motors market seems promising. 

Building a successful business depends on marketing and presenting your products and services in front of the right audience. So, how can you get the word out about your business most affordably and effectively? To help you with these questions, here are some proven marketing ideas. These ideas will help promote your business, attracting more customers, and generating more sales.

1. Referrals, give and take

If you send customers to other businesses, they will do the same. They will keep you in mind and will send customers to you. One of the best ideas to improve the relationship with customers, get new customers, and boost revenue is to give referrals and ask for the same.

2. Help other businesses by handing out their cards and flyers.

Again, when you hand out the business cards and flyers of your relatives, colleagues, friends, and other businesses, they will return the favor. Partnerships in your local market will be beneficial. If you help connect with other merchants, you will earn a good relationship and, as a result, customers. It is one of the many proven marketing ideas and should be used to grow the customer base and business relations.

3. Posters at the front counters of local merchants

Display your posters, cards, or flyers at the front counter of the local merchants. Of course, you will need to do the same for them in return. Mutual support is the key to success.

4. Send Letters/SMS/Email

Make your customers feel important by sending letters or SMS or Emails on their special days like birthday, marriage anniversary, festivals. They will remember you and will keep coming back to you. Create a Hotmail account if you have not done it yet.

5. Use social media - This is one of the latest marketing ideas.

Be active on social media. Let your customers know whenever you launch a new product, service, and offer. Join local Facebook groups and post your product images and special offers regularly on them. Remember, people do not log in to Facebook to buy things! Social media is a place for connecting with customers, creating awareness about your brand, products, and services, and building relationships. However, posting regularly and running ads that provide value will eventually lead to sales.

6. Sponsor a local sports team, or a charity, or an annual event.

Sponsoring events, teams, or causes will attract the attention of the people. Offer discounts on a specific day or a duration after that event.

7. Make local employees your VIPs

Do you have large businesses around you employing a large number of people? Offering a discount to workers seems like a good idea. Offer VIP cards of your business to each of their employees. It is one of the best marketing techniques. This way, they will feel important, and most of them will pay attention to your card. Many of them will give you a try. For example, a restaurant might offer a percent discount or free dessert. Generally, you can offer something to the VIP cardholders repeatedly and regularly.

8. Get some bounce-back action.

Sometimes you provide your products or services to a group of people who are not your customers. But they can become your customers. For example, if you are catering 200 guests at a birthday party, provide each of the guests with a certificate or discount coupon offering them each a % discount on their next meal at your restaurant. Even if 20% of the guests come to your restaurant, you will get 40 customers from it, and maybe many of them are first-time customers. You can impress these new customers who might turn into regulars.

9. Host marketing forums and seminars

Marketing forums and seminars are useful for sharing the knowledge and ideas of marketing. Host forums and invite the marketing experts and small business owners to share their ideas that have worked in their area. It will not only allow you to learn new techniques but also get new clients as one business can be a customer of others. Such forums and seminars can become a bridge between a seller and new clients.

10. Participate in trade fairs and shows

Trade fairs and shows are great ways to meet other business owners and potential customers. Collect the contact information of your stall visitors and approach them later with your offer. You can offer a discount for on the spot purchase or order/booking of your product or service. You can also give away discount coupons and certificates to motivate them for the purchase later, within a specific time, like within 30 or 60 days.

11. Creatively support charity events.

Do you have a charity event in your business area? You can offer a special certificate to each person that attends the event. Each certificate promises a donation of some % or a fixed amount to the charity when the person spends at least a minimum set amount. Your business will not only achieve exposure and goodwill but, more importantly, will get new people in the front door spending money on your products or services.

I hope these marketing ideas will be useful in growing your customers and revenue. Share your thoughts in the comment box given at the bottom.

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