Pune, 19, April 2023: As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Induction Motor Market” was USD 14.76 Bn in 2021 and is expected to grow at a CAGR of 3.72 percent over the forecast period to reach USD 19.77 Bn by 2029.
Induction Motor Market Report Scope and Research Methodology
The Induction Motor Market report is a combination of primary and secondary data. The primary research method includes e-mail interactions, telephonic and face-to-face interviews while secondary data was collected from various sources such as annual or financial reports, government documents, company websites, industry white papers and investor presentations with paid and free databases, which helped to get the immense knowledge of the Induction Motor market. Primary data was conducted from Induction Motor industry experts and experts in order to validate the data and analysis of the market. PESTLE analysis used for the report helps to understand the impact of the political, economic, social and technological factors on the Induction Motor market. The bottom-up approach was used to estimate the global and regional Induction Motor market size. In-depth information of drivers, restraints, challenges and opportunities has been provided in the report with the SWOT analysis to provide strengths and weaknesses of the Induction Motor key players in the industry.
Induction Motor Market Dynamics
Induction motors consume less energy compared to conventional motors and represent a better alternative for the environment, which is increasing the demand for the product. The demand for induction motors is majorly driven by their ability to work in different climatic conditions. The primary driver of the Induction Motor Market is the increasing number of equipment, systems and devices driven by an induction motor. The factor that is contributing to the market growth is the increasing awareness of environmental protection across industries. The availability of alternative technology for induction motors is the main restraint to the growth of the market.
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Induction Motor Market Regional Insights
During the forecast period, the Asia Pacific region is expected to grow at a CAGR of 4.8 percent. The regional market is growing due to the increasing investments to automate various processing steps in many industries.
The North America region is expected to grow at a CAGR of 6.8 percent during the forecast period. The regional market is growing majorly due to the increasing applications of induction motors in automotive, consumer electronics and HVAC.
Induction Motor Market Segmentation
By Product Type
- Three Phase Induction Motor
- Single Phase Induction Motor
Induction Motor Market Key Competitors include:
- Rockwell Automation, Inc. (US)
- CAG Electric Machinery s.r.o. (US)
- Regal Rexnord Corporation (US)
- ATB (Canada)
- ABB (Switzerland)
- Cantoni Motor ( Poland)
- Bosch Rexroth. (Germany)
- Siemens AG (Germany)
- AC– Motoren (Germany)
- Schneider Electric (France)
- Elprom Harmanli (Bulgaria)
- Nidec Corporation (Japan)
- TMEIC ( Japan)
- CG Power Systems (India)
- Changzhou Duowei Electric Co.,Ltd (China)
- Chinabase Machinery (Hangzhou) (China)
- CRRC Zhuzhou Electric Co., Ltd (China)
- Fujian Mindong Electric Co., Ltd., GE (China)
- WEG Industries (Brazil)
- FIMET Motori & Riduttori S.p.a. (Argentina)
Table of Content for Induction Motor Market
- Global Induction Motor Market: Research Methodology
- Global Induction Motor Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Market
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Induction Motor Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- Regulatory Landscape by region
- North America
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Induction Motor Market Segmentation
- Global Market, by Product Type (2021-2029)
- Global Market, by Application (2021-2029)
- Regional Induction Motor Market (2021-2029)
- Regional Market, by Product Type (2021-2029)
- Regional Market, by Application (2021-2029)
- Regional Market, by Country (2021-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
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Key questions answered in the Induction Motor Market are:
- What is Induction Motor?
- What are the global trends in the Induction Motor Market?
- What are the upcoming industry applications and trends for the Induction Motor Market?
- What are the factors contributing to the final price of an Induction Motor?
- How is the intervention from regulatory authority is shaping the Induction Motor Market?
- What growth strategies are the players considering to increase their presence in Induction Motor?
- Who are the leading manufacturers and what are their portfolios in Induction Motor Market?
- What are the major challenges that the Induction Motor Market could face in the future?
- Who held the largest market share in Induction Motor Market?
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Product Type, Application and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
Maximize Market Research is leading Electronics research firm, has also published the following reports:
Automotive Induction Motor Market – The market size is expected to reach USD 30.96 billion by 2029 at a CAGR of 4.8 percent during the forecast period. The market is expected to be driven by the increasing production of electric vehicles.
Electric AC Motors Market – The market size is expected to reach USD 197.23 billion by 2029 at a CAGR of 7.5 percent during the forecast period. The market is expected to be driven by the increasing demand for HVAC equipment and industrial machinery.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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