Induction Motor Market was valued at USD 14.76 Billion in 2021, and it is expected to reach USD 19.77 Billion by 2029, exhibiting a CAGR of 3.72% during the forecast period.
Induction Motor Market Overview:
Maximize Market Research's Induction Motor Market Report offers readers an appraisal of the worldwide market landscape via the use of a complete viewpoint. This study on the Induction Motor Market examines the conditions from 2022 to 2029, with 2021 serving as the base year. By utilizing a variety of data given in the study, this research supports users in making key business decisions.
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Market Scope:
This market study on Induction Motor is based on a thorough evaluation of the market, which is supported by secondary and primary sources. A country-by-country model mapping of Induction Motor using internal and external sensitive facts, as well as applicable patent and regulatory sources, determine market volume. The competitive scenario of the Induction Motor market is supported by an assessment of the numerous components that influence the market on both a micro and macro level. Researchers in the Induction Motor market make predictions and predictions, as well as calculate market forecasts, by thoroughly reviewing historical data, current trends, and significant company statements.
Drivers:
The Induction Motor is a very powerful and sophisticated kind of power source used in electric cars. The motors used for automotive applications should have characteristics like high starting torque, high power density, good efficiency, etc. Induction motors are the preferred choice for performance-oriented electric vehicles due to their cheap cost. The other advantage is that it can withstand rugged environmental conditions. Due to these advantages, the Indian railways have started replacing their DC motors with AC induction motors. Mahindra Reva e2o uses a three-phase induction motor for its propulsion. Major automotive manufacturers like TATA motors have planned to use Induction motors in their cars and buses. The two-wheeler manufacturer TVS motors will be launching an electric scooter that uses an induction motor for its propulsion. Countries such as Australia, Singapore, and Australia are focusing on taking initiatives like industry 4.0, driving the demand for induction motors by implementing energy-efficient systems in the manufacturing of food and beverage, textile and clothing, and automotive industries.
Segmentation:
Product Type During the forecast period, the three-phase segment is anticipated to dominate the induction motor market and expand at a CAGR of 12.5%. Three-phase induction motors can start on their own and don't need a starter winding, a capacitor, or centrifugal force to do so. In the industrial and construction sectors, three-phase induction motors are frequently used and are reasonably priced. These factors will cause the three-phase induction motor type to increase during the forecast period.
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Key Players:
Depending on the client's subscription period, this report includes market monitoring for a specific area of the clients' needs and provides up-to-date information about business strategies such as mergers, acquisitions, collaborations, expansions, and new products for top companies on a regional scale for various markets. Our data is regularly updated and modified by a team of research specialists to reflect the most current events and facts. We have extensive expertise in research and consulting for a wide variety of business disciplines to meet the demands of both individual and corporate clients. Our experienced employees make use of proprietary data sources as well as a variety of other ways. The key figures in the Induction Motor market...
• Ward Leonard, WEG(US)
• Rockwell Automation, Inc.(US)
• CAG Electric Machinery s.r.o.(US)
• Regal Rexnord Corporation(US)
• ABB(Switzerland)
• ATB(Canada)
• Cantoni Motor( Poland)
• 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)
• Elprom Harmanli(bulgaria )
• FIMET Motori & Riduttori S.p.a.(Argentina)
• Bosch Rexroth.(Germany)
• Siemens AG(Germany)
• AC – Motoren(Germany)
• Nidec Corporation( Japan)
• TMEIC( Japan)
• Schneider Electric( France)
• WEG Industries(Brazil)
Regional Analysis:
North America (which includes the United States, Canada, and Mexico), Europe (which includes Germany, France, the United Kingdom, Russia, and Italy), Asia-Pacific (which includes China, Japan, Korea, India, and Southeast Asia), South America (which includes Brazil, Argentina, and Colombia), the Middle East, and Africa have all been discussed (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). The research gave information on regional competitive conditions. These insights assist market players in improving their approaches and opening up new chances to create incredible achievements.
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COVID-19 Impact Analysis on Induction Motor Market:
The Global Induction Motor Market Research Report delivers a market overview based on important aspects such as market size, sales, sales analysis, and significant drivers. During the forecast period, the market is predicted to increase rapidly (2022-2029). In addition, this document presents the most recent COVID-19 market implications. The outbreak's spread has had a wide-ranging impact on people's lives all over the world. As a result, markets have been forced to adopt new norms, trends, and strategies. The study report essentially would provide a picture of the market's initial and future forecasts.
Key Questions Answered in the Induction Motor Market Report are:
- Have there been any new competitive developments in the Induction Motor market?
- What are Induction Motor's market size and market share?
- Where can I get sample reports or company profiles for the Induction Motor market?
- Who are the potential clients in the Induction Motor market?
- Who are the most powerful players in the Induction Motor market?
- How can I obtain business profiles for the top ten businesses in the Induction Motor market?
- Which region has the most commercial potential for Induction Motor now and in the future?
- What are the key expansion strategies of Induction Motor industry participants?
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