Global Induction Motor Market: Industry Analysis and Forecast (2020-2026)

 Global Induction Motor Market size was valued at US$ 17.20 Bn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ XX Bn.

The global Induction Motor market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Induction Motor report also provides trends by market segments, technology, and investment with a competitive landscape.
Definition of Induction Motor:

An induction motor is an AC electric motor that does not require any electronic connections to the rotor to operate. In contrast to traditional motors currently on the market, the motor is more efficient and environmentally friendly. It is used in the majority of machinery today. It is one of the most commonly electric motors on the market. Because of its low cost and ease of maintenance, the global demand for induction motors is expected to grow.
Global Induction Motor Market Dynamics:

The rising market for electric vehicles presents enormous opportunities for induction motor adoption. Induction motor adoption is also increasing as a result of technological advances in the field. Induction motors are becoming more popular because they are durable, can handle smaller loads, and have lower after-sales costs and services.

Induction motors are often used in compressor load systems, fans, and other applications because they save a lot of energy. Furthermore, increased preference for induction motors is being driven by increasing concerns about climate change and emissions, as well as a growing acceptance of technology. The industry is benefiting from strict government legislation requiring the use of environmentally friendly and sustainable vehicles. As a result, there are more electric vehicles on the road, which is pushing up the demand for induction motors. Induction motor market players are constantly innovating and expanding their product range to develop advanced features with e-assistance services such as Smart Induction Motor Monitoring System (SEMS) in e-bikes and other vehicle types, which is expected to grow in the coming years. Industrial applications accounted for more than half of all induction motors (>50%).

Global Induction Motor Market Segmentation:

Global Induction Motor Market.

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Depending upon the type, the induction motor market is segmented into single-phase induction motor and three-phase induction motor. The single-phase induction motor had the highest market value, and it is expected to reach US $16.68 billion by 2026, growing at a CAGR of XX % over the forecast period. The three-phase induction motor, on the other hand, is expected to fuel the induction motor market during the forecast period, and it is expected to reach US $14.93 billion by 2026, rising at a CAGR of XX %. The three-phase induction motor market holds the large share of 67 % in 2019. This dominance is due to the increasing demand for three-phase induction motors in automation and industrialization around the world, as well as the increased dependability of three-phase induction motors over single-phase induction motors.
Global Induction Motor Market Regional Insights:

Global Induction Motor Market Regional Insights

Asia Pacific hold largest market share, accounting for XX.XX % in 2019. The market's expansion is fueled by rising demand for electric vehicles and the HVAC (heating, ventilation, and air conditioning) industry. Similarly, rapid industrialization and an expanding manufacturing sector in countries like China and India are driving demand for a wide range of induction motor applications. Besides, the Asia Pacific induction motor market is driven by the demand for electric vehicles and government measures to minimize greenhouse gas emissions. Besides, government initiatives such as ‘Make in India’ encourage manufacturers to introduce automation across various industries and concentrate on improving industrial equipment mechanisms.

The objective of the report is to present a comprehensive analysis of the Global Induction Motor Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Induction Motor Market dynamics, structure by analyzing the market segments and project the global Induction Motor market size. Clear representation of competitive analysis of key players By Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Induction Motor Market make the report investor’s guide.
Global Induction Motor Market Scope: Inquire before buying

Global Induction Motor Market
Global Induction Motor Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Induction Motor Market Key Players

• Ward Leonard
• WEG
• ABB
• AC - Motoren
• ATB
• CAG Electric Machinery s.r.o.
• Cantoni Motor. CG Power Systems
• Changzhou Duowel Electric Co.,Ltd.
• Chinabase Machinery
• CRRC Zhuzhou Electric Co., Ltd.
• Elprom Harmanli
• FIMET Motori & Riduttori S.p.a.
• Fujian Mindong Electric Co. Ltd. GE
• Bosch Rexroth
• Schneider Electric SE
• Marathon Electric
• Kirloskar Electric Company Siemens AG
• Other Key Players