Induction Motor Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Induction motor, also called as asynchronous motor is an AC electric motor based on the principle of induction where the electric current required in the rotor to generate torque is obtained by electromagnetic induction from the magnetic field of stator winding. Hence an induction motor can be made without electrical connection to the rotor. It is one of the most commonly used electric motor. The global demand for induction motor market is poised to flourish because it is economic cost and low maintenance.

MARKET DYNAMCS

The growing market for induction motor is driven by factors like reliability, carry smaller loads, low maintenance, growing demand of electric vehicles, increase in need for power saving households, manufacturing and energy infrastructure. Further reducing greenhouse gas emission is driving the market of induction motor. The global market of induction motor is expected to boom because of government's initiatives and benefits developed and developing countries, which in turn is encouraging the manufactures to invest in induction motor market.

MARKET SCOPE

The "Global Induction Motor Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of induction motor market with detailed market segmentation by product type, end-user, repair type, and geography. The global induction motor market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading induction motor market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global induction motor market is segmented on the basis of product type, application, and efficiency class. Based on product type, the market is segmented as single phase induction motor and three phase induction motor. On the basis of application the market is sub-segmented into residential, industrial, commercial, agriculture and transportation. Similarly, based on efficiency class the market is segmented into IE1, IE2, IE3 and IE4.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Induction motor market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Induction motor market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting Induction motor market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Induction motor market in these regions.

MARKET PLAYERS

The reports cover key developments in the Induction motor market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Induction motor market are anticipated to lucrative growth opportunities in the future with the rising demand for Induction motor in the global market. Below mentioned is the list of few companies engaged in the Induction motor market.

The report also includes the profiles of key Induction motor companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years

• ABB Ltd.
• Baldor Electric Company
• Emerson Electric Company
• Kirloskar Electric Company
• Marathon Electric
• Nidec Motor Corporation
• Regal Beloit Corporation
• Schneider Electric SE
• Siemens AG
• Toshiba Corporation

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Induction Motor Report Scope