About Induction Motor
An induction motor is also known as an asynchronous motor, which is a commonly used AC electric motor. An induction motor is the most modest electrical machine from a constructional point of view, in the majority of the cases. In an induction motor, the electric current in the rotor needed to produce torque is obtained via electromagnetic induction from the rotating magnetic field of the stator winding. The rotor of an induction motor can be a squirrel cage rotor or wound type rotor. Induction motors are being extensively used across the commercial, residential, and industrial sectors. There are numerous advantages of the induction motor that made it more popular among these sectors. Low cost, low maintenance cost, ease of operation, speed of operation, high starting torque, and durability are some of the major advantages of induction motor.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is highly fragmented due to presence of several vendors coupled with low entry barriers for the new players. Moreover, some of the well-known brands are adopting some organic and inorganic strategies such as merger, acquisition, partnerships, brand renovation, new product launches, among others in order to gain competitive advantage. Besides, some of the prominent vendors are focusing on technological advancements in order to offer the advanced induction motors to the market. Analyst at AMA Research estimates that United States and German Manufacturers will contribute the maximum growth to Global Induction Motor market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nidec Motor Corporation (Japan), ABB Ltd. (Switzerland), Siemens AG (Germany), WEG Electric Corp. (Brazil), Regal Beloit Corporation (United States), Kirloskar Electric Company (India), Marathon Electric (United States), Schneider Electric (France), Emerson Electric Company (United States), GE (United States), TECO (Taiwan), Tatung (Taiwan), Hitachi (Japan) and Bosch Rexroth (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are SEW-Eurodrive (Germany), YASKAWA (Germany), Toshiba (Japan), Landert (Switzerland), ABM Greiffenberger (Germany), Brook Crompton (United Kingdom), Sterling Electric (United States) and Wolong (China).
Segmentation Overview
AMA Research has segmented the market of Global Induction Motor market by Type (Single Phase Induction Motor {Split Phase Induction Motor, Capacitor Start Induction Motor, Capacitor Start and Capacitor Run Induction Motor, Shaded Pole Induction Motor} and Three Phase Induction Motor {Squirrel Cage Induction Motor, Slip Ring Induction Motor}), Application (Pumps, Compressors, Small fans, Mixers, Toys, High speed vacuum cleaners, Electric shavers, Drilling machines, Lifts, Cranes, Hoists, Large capacity exhaust fans, Driving lathe machines, Crushers and Others) and Region.
On the basis of geography, the market of Induction Motor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct Sales will boost the Induction Motor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Residential will boost the Induction Motor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Popularity of Three Phase Induction Motor among the Industrial Segment
Market Growth Drivers:
Rising Demand for Electric Vehicles across the Globe and The Rapid Rate of Industrialization in Emerging Countries
Challenges:
Fluctuations in Raw Material Prices
Restraints:
The High Installation Cost of the Manufacturing Facility
Opportunities:
Industry 4.0 is expected to Open Lucrative Opportunities for the Market
Market Leaders and their expansionary development strategies
In May 2023, ABB announced it has completed its acquisition of the Siemens low voltage NEMA motor business. The transaction was originally announced August 11, 2022, and financial terms of the transaction were not disclosed.
In February 2018, ABB integrated the Baldor Electric Company name into its global ABB brand as a part of its Next Level strategy, which includes harmonizing different ABB-owned brands under the global ABB master brand.
Key Target Audience
Induction Motor Manufacturers, Induction Motor Sub-Component Manufacturers, Induction Motor Traders/Distributors, Induction Motor Importer/Exporter, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.