According to SPER Market Research, the Global Induction Motor Market is estimated to reach USD XX billion by 2033 with a CAGR of 5.2%.
Induction Motor Market Introduction and Overview
The report includes an in-depth analysis of the Global Induction Motor Market, including market size and trends, product mix, Applications, and supplier analysis. An induction motor is an AC electric motor that generates torque through the interaction of a fluctuating magnetic field created in the stator and current induced in the coils of the rotor. It is employed in most machines because it is more efficient and powerful than traditional motors. Because of its exceptional resilience, it is an excellent choice for manufacturing and automotive applications because it needs minimal maintenance. Another key element influencing demand is its capacity to function in a variety of climate situations.
- June 2022 - For the US market, Nidec Corporation introduced SynRA (Synchronous Reluctance Motor with Aluminium Cage Rotor), a high-efficiency synchronous reluctance (SR) motor that incorporates the fundamentals of both an SR motor and a cage-type induction motor. When turned on, Nidec's SynRA rotates like an induction motor but with less loss and greater efficiency than a cage-type induction motor.
- March 2022 - Havells India introduced 19 new models under the pedestal, ceiling, wall and ventilation fan categories to introduce its line of energy-efficient ECOACTIV fans. The newest line of fans is powered by an ECOACTIV induction and super-efficient BLDC motor.
Market Opportunities and Challenges
Opportunities: Induction motor demand is predicted to increase due to its low cost and simplicity of maintenance. Its adaptability to various environmental situations is a key factor driving its demand. Over the course of the projected period, the market is expected to have significant development prospects due to the expanding industrial bases of developing nations like China and India. Numerous market participants are employing a variety of methods, such as new technology, new product releases, existing technology update, mergers and acquisitions, to gain the greatest proportion of the induction motor market.
Challenges: The market for induction motors is being held back by the high cost of constructing a manufacturing facility. Several significant competitors dominate the induction motor market on a global level. Due to the low prices offered by local providers, customers from all over the world are attracted to the black market. As a result, the induction motor market as a whole is not acknowledged.
Market Competitive Landscape
Several prominent companies, including Rockwell Automation Inc., ABB Ltd, Siemens AG, WEG Electric Corporation, and Nidec Motor Corporation, dominate the induction motor market, which is competitive. These major market players are focusing on expanding their customer bases abroad. In order to increase their market shares and profitability, these companies engage in tactical joint ventures. However, mid-sized and smaller enterprises are increasing their market share by securing new clients and tapping unexplored markets as a result of product advances and technological advancements.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Application
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | ABB Ltd, Baldor Electric Company, CG (Comton & Greaves), Emerson Electric Co., Kirloskar Electric Company, Marathon Electric, Nidec Motor Corporation, Regal Beloit Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, ThomasNet, WEG Electric Corp, Others |
COVID-19 Impact on Global Induction Motor Market
The COVID-19 epidemic has had a negative effect on market growth, primarily because operations in the discrete manufacturing industry have been suspended. Numerous induction motor production facilities had to temporarily close due to the abrupt COVID-19 pandemic outbreak and the strict lockdown measures that were enacted in response. Additionally, the COVID-19 epidemic has had a severe influence on the production facilities of the automotive industries globally, which has significantly slowed the development of the market under study.
Key Target Audience
- Electrical Engineers and Technicians
- Electricians and Maintenance Personnel
- Energy Auditors
- Energy Efficiency Consultants
- HVAC (Heating, Ventilation, and Air Conditioning) Professionals
- Industrial Engineers and Plant Managers
- Manufacturers of Electrical Equipment
- Others
Our in-depth analysis of the Induction Motor Market includes the following segments:
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By Type:
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Single-phase Induction Motor
Three-phase Induction Motor
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By Application:
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Commercial
Industrial
Residential
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Key Topics Covered in the Report
- Global Induction Motor Market Size (FY’2023-FY’2033)
- Overview of Global Induction Motor Market
- Segmentation of Global Induction Motor Market By Type (Single-phase Induction Motor, Three-phase Induction Motor)
- Segmentation of Global Induction Motor Market By Application (Commercial, Industrial, Residential)
- Statistical Snap of Global Induction Motor Market
- Expansion Analysis of Global Induction Motor Market
- Problems and Obstacles in Global Induction Motor Market
- Competitive Landscape in the Global Induction Motor Market
- Impact of COVID-19 and Demonetization on Global Induction Motor Market
- Details on Current Investment in Global Induction Motor Market
- Competitive Analysis of Global Induction Motor Market
- Prominent Players in the Global Induction Motor Market
- SWOT Analysis of Global Induction Motor Market
- Global Induction Motor Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Induction Motor Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Induction Motor Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Induction Motor Market
7. Global Induction Motor Market, By Type (USD Million)
7.1. Global Induction Motor Market Value Share and Forecast, By Type, 2023-2033
7.2. Single-phase Induction Motor
7.3. Three-phase Induction Motor
8. Global Induction Motor Market, By Application (USD Million)
8.1. Global Induction Motor Market Value Share and Forecast, By Application, 2023-2033
8.2. Commercial
8.3. Industrial
8.4. Residential
9. Global Induction Motor Market Forecast, 2019-2033 (USD Million)
9.1. Global Induction Motor Market Size and Market Share
10. Global Induction Motor Market, By Type, 2019-2033 (USD Million)
10.1. Global Induction Motor Market Size and Market Share By Type (2019-2026)
10.2. Global Induction Motor Market Size and Market Share By Type (2027-2033)
11. Global Induction Motor Market, By Application, 2019-2033 (USD Million)
11.1. Global Induction Motor Market Size and Market Share By Application (2019-2026)
11.2. Global Induction Motor Market Size and Market Share By Application (2027-2033)
12. Global Induction Motor Market, By Region, 2019-2033 (USD Million)
12.1. Global Induction Motor Market Size and Market Share By Region (2019-2026)
12.2. Global Induction Motor Market Size and Market Share By Region (2027-2033)
12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America
13. Company Profile
13.1. ABB Ltd
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Baldor Electric Company
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. CG (Comton & Greaves)
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Emerson Electric Co.
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Kirloskar Electric Company
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Marathon Electric
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Nidec Motor Corporation
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Regal Beloit Corporation
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Rockwell Automation Inc.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Schneider Electric SE
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Siemens AG
13.11.1. Company details
13.11.2. Financial outlook
13.11.3. Product summary
13.11.4. Recent developments
13.12. ThomasNet
13.12.1. Company details
13.12.2. Financial outlook
13.12.3. Product summary
13.12.4. Recent developments
13.13. WEG Electric Corp.
13.13.1. Company details
13.13.2. Financial outlook
13.13.3. Product summary
13.13.4. Recent developments
13.14. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
