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By 2030, it's estimated that the worldwide market for induction motors will be worth $40.5 billion. It is expected to grow at a healthy compound annual rate (CAGR) of 7.4% between 2023 and 2030. In 2022, its estimated value was $19.9 billion.
Motors are essential to almost every activity performed by humans. Numerous machines, tools, and infrastructures all rely on motors. As more machinery, gadgets, and systems are put into use, so too is the demand for motors. More than 80% of all motors in use are induction motors. Because of this, induction motors are becoming increasingly popular. The induction motor market can be broken down into single-phase and three-phase submarkets based on the different types of induction motors available. Single-phase motors can be separated into four categories: those that use a capacitor to start the motor; those that use a capacitor to start and run the motor; and those that use a shaded pole to start the motor. Three-phase induction motors come in two flavours: squirrel cage and slip ring. While three-phase induction motors are utilised for severe loads, single-phase induction motors are more commonly used in everyday settings due to their lower cost and greater reliability. The induction motor market can be broken down into several subsets based on end use: home, business, transportation, and others.
Unlike other types of motors, induction motors require almost no upkeep. One of the key factors increasing demand for these motors is the absence of slide rings, commuters, and brushes. An induction motor, a type of alternating current (AC) electric motor, generates torque when the current flowing through its rotor coils interacts with the fluctuating magnetic field produced by its stator. In most applications, this motor is the standard rather than the alternative. It has greater efficacy and less of an impact on the natural world than its predecessors. Industries like the automotive and manufacturing sectors can benefit from its long lifespan and low maintenance requirements. Its adaptability to many climates is also a contributing factor to its rising appeal.
When it comes to electrical motors, induction motors are by far the most ubiquitous. Induction motors are commonly used in industrial machinery. Due to their durability and adaptability, they are the go-to choice in many different sectors. The electro-magnetic field (EMF) is induced in the rotor conductors by the stator's spinning magnetic field cutting the rotor's stationary conductors, making the induction motor work. Induction motors are increasingly widely employed in industrial settings, where DC motors were once standard. Single-phase and three-phase induction motors are distinguished by the number of phases present in their input power. Three-phase induction motors enjoy greater popularity and find widespread use. The global induction motor market is broken down and segmented in this study based on induction motor type, induction motor application, and geographic region. Both single-phase and three-phase induction motors are represented in this classification. The three phase market is expected to increase at a double-digit CAGR from 2014 to 2019, when it will account for over 70% of the global market. The market is broken down into three different submarkets based on end use: residential, industrial, and commercial. North America, Europe, Asia-Pacific, and the Rest of the World (RoW) are some of the geographical segments that make up the market.
Water pumps, kitchen appliances, fans, air conditioners, vehicles, etc. are just few of the everyday uses for induction motors. Sales of induction motor have risen as the number of power plants has grown. The induction motor market is expected to grow at the fastest rate in Africa, with Latin America following closely behind. Like the Asia-Pacific region, the induction motor market in Latin America and Africa will expand rapidly for the same reasons and under the same conditions. The induction motor industry will expand steadily in Europe and North America.
Report Coverage
Global Induction Motors research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Induction Motors report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Induction Motors competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Induction Motors market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Induction Motors market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Induction Motors market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Emerson Electric Company, Regal Beloit Corporation ABB Ltd. Schneider Electric SE Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Induction Motors market based on the below-mentioned segments:
Global Induction Motors Market, By Type
Single Phase
Three Phase
Global Induction Motors market, By Application
Pumps
HVAC Fans
Material processing
Compressed air
Material handling
Others
Global Induction Motors Market, By End User
Residential
Industrial
Agricultural sector
Transportation
Others
Global Induction Motors market, Regional Analysis
Motors are essential to almost every activity performed by humans. Numerous machines, tools, and infrastructures all rely on motors. As more machinery, gadgets, and systems are put into use, so too is the demand for motors. More than 80% of all motors in use are induction motors. Because of this, induction motors are becoming increasingly popular. The induction motor market can be broken down into single-phase and three-phase submarkets based on the different types of induction motors available. Single-phase motors can be separated into four categories: those that use a capacitor to start the motor; those that use a capacitor to start and run the motor; and those that use a shaded pole to start the motor. Three-phase induction motors come in two flavours: squirrel cage and slip ring. While three-phase induction motors are utilised for severe loads, single-phase induction motors are more commonly used in everyday settings due to their lower cost and greater reliability. The induction motor market can be broken down into several subsets based on end use: home, business, transportation, and others.
Unlike other types of motors, induction motors require almost no upkeep. One of the key factors increasing demand for these motors is the absence of slide rings, commuters, and brushes. An induction motor, a type of alternating current (AC) electric motor, generates torque when the current flowing through its rotor coils interacts with the fluctuating magnetic field produced by its stator. In most applications, this motor is the standard rather than the alternative. It has greater efficacy and less of an impact on the natural world than its predecessors. Industries like the automotive and manufacturing sectors can benefit from its long lifespan and low maintenance requirements. Its adaptability to many climates is also a contributing factor to its rising appeal.
When it comes to electrical motors, induction motors are by far the most ubiquitous. Induction motors are commonly used in industrial machinery. Due to their durability and adaptability, they are the go-to choice in many different sectors. The electro-magnetic field (EMF) is induced in the rotor conductors by the stator's spinning magnetic field cutting the rotor's stationary conductors, making the induction motor work. Induction motors are increasingly widely employed in industrial settings, where DC motors were once standard. Single-phase and three-phase induction motors are distinguished by the number of phases present in their input power. Three-phase induction motors enjoy greater popularity and find widespread use. The global induction motor market is broken down and segmented in this study based on induction motor type, induction motor application, and geographic region. Both single-phase and three-phase induction motors are represented in this classification. The three phase market is expected to increase at a double-digit CAGR from 2014 to 2019, when it will account for over 70% of the global market. The market is broken down into three different submarkets based on end use: residential, industrial, and commercial. North America, Europe, Asia-Pacific, and the Rest of the World (RoW) are some of the geographical segments that make up the market.
Water pumps, kitchen appliances, fans, air conditioners, vehicles, etc. are just few of the everyday uses for induction motors. Sales of induction motor have risen as the number of power plants has grown. The induction motor market is expected to grow at the fastest rate in Africa, with Latin America following closely behind. Like the Asia-Pacific region, the induction motor market in Latin America and Africa will expand rapidly for the same reasons and under the same conditions. The induction motor industry will expand steadily in Europe and North America.
Report Coverage
Global Induction Motors research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Induction Motors report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Induction Motors competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Induction Motors market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Emerson Electric Company, Regal Beloit Corporation ABB Ltd. Schneider Electric SE Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Induction Motors Market from 2021 to 2030.
- Market Forecast for Induction Motors Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Induction Motors competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Induction Motors
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Induction Motors market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Induction Motors market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Emerson Electric Company, Regal Beloit Corporation ABB Ltd. Schneider Electric SE Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company.
Primary Target Market
- Market Players of Induction Motors
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Induction Motors market based on the below-mentioned segments:
Global Induction Motors Market, By Type
Single Phase
Three Phase
Global Induction Motors market, By Application
Pumps
HVAC Fans
Material processing
Compressed air
Material handling
Others
Global Induction Motors Market, By End User
Residential
Industrial
Agricultural sector
Transportation
Others
Global Induction Motors market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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