Induction Motor market to surge at notable CAGR and reach remarkable value by 2027, according to Global Induction Motor Market Analysis Report published by Market Research Future. Induction motors, also known as, asynchronous motors, are AC electric motors which can be produced without any electronic connections to the rotor. Global Induction Motors Industry Report analyzes Market for Induction Motors by End User (residential, commercial and industrial), Application (residential, commercial and industrial) and Region with Forecast to 2027.
Key Players Profiled in the latest report by Market Research Future include:
Emerson Electric Company, Regal Beloit Corporation, ABB Ltd.,Schneider Electric SE,Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company.
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Induction Motor Market 2019 Highlights:
Induction motors, also known as, asynchronous motors, are AC electric motors which can be produced without any electronic connections to the rotor. With applications in most machinery at present, induction motors are more powerful and environment-friendly in nature, as compared to conventional motors. An induction motor is very safe for use in heavily polluted and explosive work conditions.
The global induction motors market is expected to witness fast-paced acceleration during the forecast period of 2016-2027. Induction motors boast a significant superiority over other types of motors. This has promoted higher inclination towards induction motors, hence, driving the demand in the global induction motors market. Further, various features of induction motors have made them attractive, including a rugged built, higher reliability, lighter weight, and lower post-sale maintenance, which are promoting the growth noted by the global induction motors market.
Moreover, increasing awareness towards the environment has also had a positive impact on the adoption of induction motors, propelling market growth. Owing to this, governments are introducing policies in favor of the environment, which in turn, is encouraging consumers as well as manufacturers to opt for induction motors over other types of motors.
Market Segmentation:
The global induction motors market is studied for several segments, based on product, end-users, and region.
Based on the product, the global induction motors market is segmented into synchronous motors, asynchronous motors, and direct current motors.
Based on end-users, the global induction motors market is segmented into industrial, commercial, and residential. The industrial segment is anticipated to lead the global induction motors market over the forecast period. Approximately 50% of the induction motors market share was fetched by the industrial segment, at the beginning of the forecast period. The dominance of the industrial segment can be attributed to the upscaling industrial sector in several countries worldwide. Additionally, a burgeoning shift towards industrial automation is bound to contribute to the upward trend undertaken by the industrial segment. Moreover, increasing consumer confidence and noted surge in promising investment plans has triggered higher demand for induction motors in the industrial sector, further leading to higher accrual of market growth.
Furthermore, due to proliferated applications of induction motors in the residential sector, the segment is projected to accrue the highest CAGR over the assessment period. Such accelerated ascension of the residential segment can be accredited to the rising disposable income of consumers, coupled with a lucrative demand for home appliances. Also, fast-paced penetration of urbanization, digitization, and smart homes are fostering growth for the global induction motors market.
Detailed Regional Analysis:
The global induction motors market is regionally segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America and Europe are seen leading the global induction motors market at the beginning of the forecast period. This can be attributed to the accelerated demand for induction motors and proliferation observed in the production rate of the same, over the assessment period.
Asia Pacific’s induction motors market is estimated to accrue fast-paced growth during the forecast period. Such substantial growth can be accredited to the booming manufacturing sector in the region. Further, boost noted in the disposable income of consumers in the region is fostering higher demand for household appliances. This, in turn, is bound to drive the APAC induction motors market through the review period.
Competitive Analysis:
The global Induction Motor market is noted to be consolidated with limited key players holding significant shares in the market. Further, acquisitions, collaborations, and the introduction of new products are some other major strategies undertaken by market vendors to capture larger share in the market.
Report Scope:
Study Period: 2019 to 2027.
Base Year: 2019.
Key Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
List of Tables:
Table 1 Global Induction Motor Market: By Region, 2018-2027
Table 2 North America Induction Motor Market: By Country, 2018-2027
Table 3 Europe Induction Motor Market: By Country, 2018-2027
Table 4 Asia-Pacific Induction Motor Market: By Country, 2018-2027
Table 5 RoW Induction Motor Market: By Country, 2018-2027
Table 6 Global Induction Motor Market By Type: By Regions, 2018-2027
Continued…
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