Industry Background:
Asynchronous motor is a type of commonly used electrical motor which is also known as induction motor. Asynchronous motors are used in various sector such as residential, industrial, commercial building, agriculture, & transportation. Various features associated with asynchronous motor such as rugged built, reliable, lightweight & have low maintenance cost are creating its Demand in the market. Asynchronous motor has simple structures, easy maintenance, low prices, broader constant power etc. which makes it suitable for the application in electric vehicle. Increasing awareness for environmental protection is key trend for adoption, as these motors have low emission rate as compare to others & have low maintenance cost. Due to this factor, asynchronous motors are used in electric vehicle. Rising demand of electric car is majorly driving the market for asynchronous motors.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Nidec Motor Corporation (United States), ABB Ltd. (Switzerland), Siemens AG (Germany), WEG Electric Corp. (Brazil), Emerson Electric Co. (United States), Regal Beloit Corporation. (United States), Kirloskar Electric Co. Ltd. (India), Marathon Electric India Pvt.Ltd. (United States), Schneider Electric SE.(France), Brook Crompton (United Kingdom), Johnson Electric (Hong Kong) and Maxon Motor (Switzerland) |
This growth is primarily driven by Increasing Demand For Electric Vehicle and Growing Adoption Due To Low Cost.
Globally, a noticeable market trend is evident Technological Advancement in the product
Major Manufacturers, such as Nidec Motor Corporation (United States), ABB Ltd. (Switzerland), Siemens AG (Germany), WEG Electric Corp. (Brazil), Emerson Electric Co. (United States), Regal Beloit Corporation. (United States), Kirloskar Electric Co. Ltd. (India), Marathon Electric India Pvt.Ltd. (United States), Schneider Electric SE.(France), Brook Crompton (United Kingdom), Johnson Electric (Hong Kong) and Maxon Motor (Switzerland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Key players offer products in different industry verticals of these market. Collaborations, partnership, merger acquisition etc. are some crucial strategies adopted by the major players to gain competitive advantage. Increasing investments by key players in R&D to make technical up-gradations in the product. The Asynchronous motor market is highly fragmented. Adoption of Energy-efficient Motors has been increased, will be ultimately beneficial for the market players.
Key Developments in the Market:
In December 2019, Nidec Corporation, through Nidec Motor Corporation, acquired a 90% ownership interest in Roboteq Inc. (“Roboteq”), a US-based ultra-low voltage (ULV) drive designer, from its owner (“Transaction”). The transaction makes Roboteq a consolidated subsidiary of Nidec.
In August 2021, Regal Beloit Corporation, a global leader in power transmission solutions and engineering and manufacturing of high-efficiency electric motors and systems, announced the recent addition of the new Century VGreen Evo pool pump motor. Powered by advanced variable speed technology, the new VGreen Evo motor is one of the most energy-efficient pool pump motors in the industry. Regal's variable-speed motors are up to 80% more efficient than conventional standard single-speed motors. The VGreen Evo motor also comes into play by enabling pool pump OEMs to comply with more stringent US energy efficiency standards.
Influencing Trend:
Technological Advancement in the product, Highly Fragmented Market and Increasing awareness for environmental protection
Market Growth Drivers:
Increasing Demand For Electric Vehicle and Growing Adoption Due To Low Cost
Challenges:
Scarcity of raw material
Restraints:
Strong competition and Emerging substitute technology
Opportunities:
Growing Industrial Base In Developing Economy and Increasing government funding For Energy Efficient Motors
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Asynchronous Motor Market
- Analysis about New Entrants in Asynchronous Motor Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Asynchronous Motor Study Sheds Light on
The Asynchronous Motor Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Asynchronous Motor industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Asynchronous Motor industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.