IMARC Group’s latest research report, titled “Induction Motor Market Analysis: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global induction motor market reached a value of US$ 18.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2027, exhibiting at a CAGR of 8.48% during 2022-2027. An induction motor refers to an alternating current (AC) electric motor, wherein electric current in the rotor is obtained by electromagnetic induction from the magnetic field generated in the stator. It is widely utilized in various industrial applications due to its robustness, affordability, durability, and high starting torque. Due to its ability to work under extreme environmental conditions and low maintenance costs, it is increasingly replacing direct current (DC) motors for numerous applications.
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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
The global market is primarily driven by the widespread adoption of induction motors across the commercial, industrial, and residential sectors. Furthermore, due to an enhanced focus on sustainable development, there has been a considerable rise in the adoption of these motors by end users. Moreover, numerous stringent regulations imposed by the governments of several countries regarding carbon emissions have also positively influenced the market growth as induction motors consume lesser energy as compared to their conventional counterparts. Additionally, the increasing sales of electric vehicles and extensive research and development (R&D) activities are further providing an impetus to market growth across the globe.
Key Players Included in Global Induction Motor Market Research Report:
- ABB
- Ametek
- Emerson Electric
- Siemens
- WEG
- Brook Crompton
- Danaher Corporation
- Johnson Electric Holdings
- Regal Beloit
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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
Based on the product type, the market has been segmented as single phase induction motor and three phase induction motor.
Breakup by End-Use Sector
- Industrial
- Commercial
- Residential
Based on the end use, the market has been segmented into industrial, commercial and residential. The industrial sector currently represents the largest segment.
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)
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market.
TOC for the Induction Motor Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Induction Motor Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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