The induction motor is the most common electric motor, used in most applications. This electric motor operates with the help of electromagnetic induction, which provides the needed electric energy to invent torque to operate. Induction motors can be termed as an asynchronous motor as it operates at a speed less than a synchronous motor. Globally, demand for the induction motor is being driven by its increasing usage owing to its economic cost and low maintenance and growing demand for electric vehicles.
Induction motors are largely utilized in drive applications like fixed-speed and variable-frequency
drive. Advancement in power electronics is expected to increase the market share of the induction motor market. Induction motor also serves as an alternative of a permanent magnet in the electric vehicles.
This report provides a depth analysis of the induction motor market size for the forecast period of 2014-2021. This report also imparts an outlook and incorporates with future opportunities for induction motor market on the basis geographical segments. It also conveys a precise analysis of the prospective growth opportunities for the forecast period. It also analyzes the market trends, restraints, challenges, growth indicators, market drivers, market size, competitive landscape, market dynamics and other key aspects with respect to induction motor market.
Geographically, North America held the highest market share of induction motor market, due to a developed usage of an induction motor in the significant industrial manufacturing, aerospace & defense, and automotive companies. In addition to the growing preference for electric vehicles in the U.S. is also stimulating the growth in North America. Demand for the Induction Motor is expected to grow fastest in the Asia Pacific region. The automotive industry is dominating the global market of the induction motor. The three-phase induction motor was the market leader with a share of 68% in 2015. More than 50% of the induction motors were used for industrial application.
This report segments global induction motor market on the basis of type, efficiency class, application and regional market as follows:
- This report on global induction motor market is also segmented on the basis of types of induction motors, major segmentation on the basis of the type includes Single Phase Induction Motor and Three Phase Induction Motor. Three phase motor has been further segmented into slip ring induction motor and squirrel cage induction motor.
- The Induction Motor market is also segmented by the efficiency class of induction motor as follow: IE1, IE2, IE3, and IE4
- The report is also segmented on the basis of end-user industry in which induction motor is being used as follow: Residential, Industrial, Commercial building, Agricultural, Transportation, and Others.
- This report is segmented into major regions, and also deals with the comprehensive analysis of each region such as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the elementary markets of the major countries for induction motors in each of the regions.
Sample Companies Profiled in this Report are:
- Nidec Motor Corporation
- Emerson Electric Co.
- Schneider Electric SE
- Baldor Electric Company
- Regal Beloit Corporation