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.
Report Summary:
During the forecast period 2022-2029, the Induction Motor is predicted to develop at a steady rate. The Induction Motor Market research provides insights into the newest trends. It outlines major market features, with an emphasis on the leading key player's sectors that have seen the most demand, as well as the leading geographies and applications. It provides both qualitative and quantitative information on the issues, challenges, and opportunities that will shape the market's growth from 2022 to 2029.
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COVID-19 Impact:
COVID-19 has the potential to have three major effects on the economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Our analysts, who are monitoring the situation throughout the world, believe that the market would provide producers with lucrative opportunities following the COVID-19 dilemma. The purpose of the report is to provide a more detailed representation of the current circumstances, the economic slowdown, and the influence of COVID-19 on the total industry.
Induction Motor Market Research Methodology:
The market size for value (million USD) is estimated in this Induction Motor Market study. To estimate and validate the market size of the Induction Motor market, top-down and bottom-up methodologies were used, as well as to estimate the size of several other dependent submarkets in the overall market. Secondary research was used to identify key market participants, and primary and secondary research was used to determine their market shares. Secondary sources and confirmed primary sources were used to determine all percentage shares, splits, and breakdowns.
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The Induction Motor Market 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.
Physically, a single-phase induction motor resembles a three-phase squirrel cage induction motor. This induction motor is more compact and lighter than other motors. It costs less as well. Single-phase induction motors are incredibly effective and require little upkeep.
The major players covered in 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)
Market Drives:
In addition to analyzing the major aspects of the Induction Motor industry, the analysis looks at different volume trends, pricing history, and market value. To get a clearer picture of the industry, several future growth drivers, problems, and opportunities are examined.
Regional Insights on Induction Motor market:
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Induction Motor in these regions, from 2022 to 2029, covering,
North America - (U.S., Canada, and Mexico)
Europe - (U.K., Germany, France, Spain, Italy, Sweden, CIS Countries, and Rest of Europe)
Asia Pacific - (China, India, Japan, South Korea, Australia, ASEAN, and Rest of APAC)
Middle East & Africa - (South Africa, GCC Countries, Nigeria, Egypt, and Rest of ME&A)
South America - (Brazil, Argentina, Colombia, and Rest of South America)
The study objectives of this report are:
- To study and analyze the Induction Motor market size (value and volume) by company, main regions/countries, products and application, past data from 2017 to 2021, and forecast to 2029.
- To understand the structure of the Induction Motor market by classifying its several sub-segments.
- To share in-depth information about the key factors influencing the growth of the market (industry trends, opportunities, drivers, challenges, and market risks).
- Focuses on the key Induction Motor manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and future growth plans in the future.
- To analyze the Induction Motor with respect to specific growth trends, prospects, and their contribution to the market.
- To project the value and volume of Induction Motor submarkets, with respect to key regions (along with their respective key countries).
- To analyze the economic and political market situation in the , regional, and country-level report includes, PESTEL analysis, PORTER’s 5 forces Analysis, COST analysis, and regulatory landscape also helps to find government contribution and restriction for the Induction Motor market.
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