Induction Motor Market by Type (Single Phase and Three Phase), Application (Pumps, Compressors and Others), End User(Residential, Industrial and Others) and Region - Global Industry Analysis, Opportunities and Forecast up to 2026

The global Induction motor market size was valued at $16.42 billion in 2020 and is projected to reach $26.18 billion by 2026, growing at a CAGR of 8.1% during the forecast period.
 
• The market demand for induction motors is majorly driven by the rising demand for electric vehicles across the globe, the requirement for power savings in households, manufacturing hubs, and energy infrastructure.
                      
• Additionally, the rapid rate of industrialization in emerging countries, and increasing focus on reducing greenhouse gas emissions are the factors expected to boost the market demand.
 
• However, the high installation cost of the manufacturing facility and fluctuations in raw material prices are negatively impacting the growth of the market.
 
• Moreover, Industry 4.0 is expected to open lucrative opportunities for the market.
 
Generally, motors play a very major role in every human process and action. With the rise in the use of equipment, devices, and systems the number of motors is increasing. Among all the motors used, about 80% of motors are induction motors. Induction motors are simple and rough in construction; these are extensively used across the commercial, residential, and industrial sectors, due to their robustness and ability to operate in any environmental conditions. Induction motors are also known as the asynchronous motor (AC), is electric motor that can be produced without any electronic links to the rotor. 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 motors.

By End User, Industrial segment is Expected to Project a Significant Growth over the Forecast Period

The industrial segment is expected to grow at a higher pace, this is mainly attributed to machinery in industrial applications using three-phase induction motors, as they are cost-effective, robust, maintenance-free, and can operate in any environmental condition. These induction motors are used in mining metals and cement, automotive, oil and gas, healthcare, and manufacturing industries. In addition, these motors have a low emission rate, and also the increase in awareness of environmental protection across industries also contributes to the growth of induction motors.

By Geography, Asia Pacific Region is Expected to Register Significant Growth During the Forecast Period

Asia-Pacific region is estimated to witness a significant growth rate in the foreseeable future. This is mainly contributed to increasing investment to automate various processing steps in many industries and rising adoption of induction motors in electric vehicles, due to their enhanced efficiency, lightweight replaced the DC motors. Asia region is the leading producer of cotton and polyester due to the contributions from numerous counties like India, China, Bangladesh, Vietnam, Sri Lanka, and Indonesia. Manufacturing industries such as automotive, oil and gas, mining and metal, and construction are registering steady growth in the region, due to this it is expected to offer ample growth opportunities for the global induction motor players.

List of the Key Players Profiled in the Market Include:
• ABB Ltd
• Baldor Electric Company
• CG Power Systems
• Emerson Electric Co.
• Kirloskar Electric Company
• Marathon Electric
• Nidec Motor Corporation
• Regal Beloit Corporation
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• ThomasNet
• WEG Electric Corp.
• Ward Leonard
• Changzhou Duowei Electric Co.,Ltd
• Toshiba Corp.
• Bosch Rexroth
• GE

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Global Induction Motor Market by, Type
• Single Phase
• Three Phase

Global Induction Motor Market by, Application
• Pumps
• Compressors
• Small fans
• Mixers
• High speed vacuum cleaners
• Electric shavers
• Drilling machines
• Lifts
• Cranes
• Hoists
• Large capacity exhaust fans
• Driving lathe machines
• Crushers
• Other Applications

Global Induction Motor Market by, End User
• Residential
• Industrial
• Commercial
• Transportation
• Agriculture
• Other End Users

Global Induction Motor Market by, Geography
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview           
    1.1 Introduction       
    1.2 Research Objectives      
    1.3 Market Segmentation      
    1.4 Stakeholders       
    1.5 List of Acronyms       
             
2 Executive Summary           
             
3 Research Methodology          
    3.1 Identification of Data      
    3.2 Evaluation of Market Dynamics     
    3.3 Collaboration of Data      
    3.4 Verification and Analysis      
    3.5 Data Sources       
    3.6 Assumptions       
             
4 Market Dynamics           
    4.1 Market Drivers       
            4.1.1 Rising demand for electric vehicles across the globe
            4.1.2 Rapid rate of industrialization in emerging countries
            4.1.3 Requirement for power savings in households, manufacturing hubs, and energy infrastructure
    4.2 Market Restraints       
            4.2.1 High installation cost of the manufacturing facility
    4.3 Market Opportunities      
            4.3.1 Industry 4.0 is expected to open lucrative opportunities for the market
    4.4 Market Challenges       
            4.4.1 Fluctuations in raw material prices
    4.5 Impact of COVID-19 on Induction Motor Market    
             
5 Porter's Five Force Analysis          
    5.1 Bargaining Power of Suppliers      
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants      
    5.4 Threat of Substitutes      
    5.5 Competitive Rivalry in the Market     
             
6 Global Induction Motor Market by, Type         
    6.1 Overview       
    6.2 Single Phase       
    6.3 Three Phase       
             
7 Global Induction Motor Market by, Application        
    7.1 Overview       
    7.2 Pumps        
    7.3 Compressors       
    7.4 Small fans       
    7.5 Mixers        
    7.6 High speed vacuum cleaners      
    7.7 Electric shavers       
    7.8 Drilling machines        
    7.9 Lifts        
    7.10 Cranes        
    7.11 Hoists        
    7.12 Large capacity exhaust fans      
    7.13 Driving lathe machines      
    7.14 Crushers        
    7.15 Other Applications       
             
8 Global Induction Motor Market by, End User        
    8.1 Overview       
    8.2 Residential       
    8.3 Industrial        
    8.4 Commercial       
    8.5 Transportation       
    8.6 Agriculture       
    8.7 Other End Users       
             
9 Global Induction Motor Market by, Geography        
    9.1 Overview       
    9.2 North America       
    9.3 Europe        
    9.4 Asia Pacific       
    9.5 South America       
    9.6 Middle East & Africa      
             
10 Key Developments           
             
11 Company Profiling           
    11.1 ABB Ltd        
            12.1.1 Business Overview
            12.1.2 Product/Service Offering
            12.1.3 Financial Overview
            12.1.4 SWOT Analysis
            12.1.5 Key Activities
    11.2 Baldor Electric Company      
    11.3 CG Power Systems       
    11.4 Emerson Electric Co.      
    11.5 Kirloskar Electric Company      
    11.6 Marathon Electric       
    11.7 Nidec Motor Corporation      
    11.8 Regal Beloit Corporation      
    11.9 Rockwell Automation Inc.      
    11.10 Schneider Electric SE      
    11.11 Siemens AG       
    11.12 ThomasNet       
    11.13 WEG Electric Corp.       
    11.14 Ward Leonard       
    11.15 Changzhou Duowei Electric Co.,Ltd     
    11.16 Toshiba Corp.        
    11.17 Bosch Rexroth       
    11.18 GE