Induction Motor Market Overview:
According to the latest report by IMARC Group, titled “Induction Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global induction motor market reached a value of US$ 18.4 Billion in 2021. These motors are simple and robust, can easily operate in harsh conditions and require less maintenance, due to which they are gaining widespread prominence among the masses. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 30.2 Billion by 2027, expanding at a CAGR of 8.48% during 2022-2027.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by product type and end-use sector.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Induction Motor Market
- Strategies of major players and product offerings
Global Induction Motor Market Trends:
The global market is primarily driven by the rising demand from the automotive industry. This is supported by the escalating utilization of three-phase induction motors in the manufacturing of vehicles since it offers enhanced speed regulation and high efficiency. In line with this, the widespread preference for electric vehicles (EVs) due to an enhanced focus on sustainable development among the masses is further propelling the market growth.
Moreover, continual technological advancements in the product manufacturing processes and the integration of smart induction motor monitoring systems (SEMS) in vehicles are acting as major growth-inducing factors. Additionally, the increasing investments in infrastructural development projects across multiple countries are creating a positive market outlook.
Other factors, including rapid industrialization and urbanization, the growing need for power savings across manufacturing hubs, households and energy infrastructure, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the product sales.
Key Players Included in Global Induction Motor Market Research Report:
- Emerson Electric
- Brook Crompton
- Danaher Corporation
- Johnson Electric Holdings
- Regal Beloit
COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Product Type
- Single Phase Induction Motors
- Three Phase Induction Motors
Breakup by End-Use Sector
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
- Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Induction Motor Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Induction Motor Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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