03-May-2019 | Zion Market Research
Zion Market Research has published a new report titled “Induction Motor Market by Type (Single-Phase and Three-Phase) and by Application (Industrial, Commercial, and Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global induction motor market was approximately USD 11.92 billion in 2018 and is expected to generate around USD 27.34 billion by 2025, at a CAGR of around 12.3% between 2019 and 2025.
Induction motor is among the commonly used electric motors in today’s time. Induction motors are also known as asynchronous motors, as they run at a speed that is lower than synchronous speed. In simple words, induction motors convert electrical energy into mechanical energy. The global induction motor market is likely to experience notable growth in the future, owing to the increasing induction motor demand mainly by the automotive industry. The significant robustness of induction motors, when compared to traditional motors, is high, which makes them suitable for industrial manufacturing and various automotive industry verticals. Additionally, induction motors possess the ability to work under varying climatic conditions. They are durable and their maintenance and repair charges are also low, which is projected to further foster the global induction motor market development in the future. Furthermore, induction motors have diverse applications in several industry verticals, such as automobile, textile, oil, and gas, etc. This, in turn, is also contributing to the induction motor market growth in the upcoming years. However, the volatility in raw material prices and huge initial investments associated with the production of induction motors may hamper this global market’s growth in the years ahead.
Browse the full “Induction Motor Market by Type (Single-Phase and Three-Phase) and by Application (Industrial, Commercial, and Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/induction-motor-market
Based on type, the induction motor market is fragmented into single-phase and three-phase. The three-phase segment is expected to dominate the global market in the years ahead, owing to the growing acceptance of three-phase induction motors for various applications. By application, the market is categorized into industrial, residential, and commercial. The industrial segment is expected to dominate the global market in the future, as induction motors are utilized in various parts of the electric automobiles and for different industrial manufacturing processes.
North America held an extensive share of the global induction motor market and is expected to continue with its regional authority in the upcoming years as well. This regional growth can be attributed to the growing adoption of induction motors in electric automobiles and the rising use of induction motors in industrial manufacturing, automobiles, aerospace, and defense industry sectors. Europe is expected to provide significant opportunities for the global induction motor market in the future, owing to the growing production of hybrid electric vehicles across the region and the various technological advancements witnessed in induction motors by manufacturing companies and organizations.
Some major players operating in the global induction motor market include Kirloskar Electric Company, Marathon Electric, ABB, Regal Beloit Corporation, Schneider Electric, Emerson Electric Company, Siemens AG, and Baldor Electric Company.
This report segments the global induction motor market into:
Global Induction Motor Market: Type Analysis
Global Induction Motor Market: Application Analysis
Global Induction Motor Market: Regional Analysis
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651