Induction Motor Market Share, Size, Growth and Forecast 2022-2027
IMARC Group’s latest research report, titled “Induction Motor Market: 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. Induction motors, also called asynchronous motors, are alternating current (AC) motors in which the torque is generated by the reaction between the current and a varying magnetic field. They have a simple and rugged structure, require minimum and low-cost maintenance, and offer high dependability and proficiency. Induction motors have two parts – a stator and a rotor. Magnetic effects of currents generated by both these components help in producing the force that is required for creating a rotation in the motor. As compared to synchronous and direct current (DC) motors, induction motors offer various advantages, which include ease of operation in different environmental conditions, high starting torque, speed variation, and durability.
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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
Induction motors are primarily used for industrial purposes, which require steady state performance and good dynamics over a wide range of speeds. However, the speed variation causes the problem of real time flux estimation. In order to overcome this problem, market players have been investing in the introduction of sensorless control schemes for induction motors. Besides this, there has been a significant rise in environmental concerns, which has escalated the demand for electric vehicles (EVs) across the globe. This has positively influenced the demand for induction motors as they are considered suitable for different driving cycles, high power density, wide operating speed, high starting torque and improved power factor necessary for the proper functioning of EVs.
Key Players Included in Global Induction Motor Market Research Report:
Johnson Electric Holdings
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
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
Middle East and Africa
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:
Scope and Methodology
Global Induction Motor Market
Value Chain Analysis
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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