|Market Size in 2018
|Market Forecast in 2025
|CAGR (in %)
|USD 11.92 billion
|USD 27.34 billion
Induction Motor Market
The global induction motor market size was worth around USD 11.92 billion in 2018 and is predicted to grow to around USD 27.34 billion by 2025 with a compound annual growth rate (CAGR) of roughly 12.3% between 2019 and 2025.
The report covers a forecast and an analysis of the induction motor market on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion) and volume (Units). The study includes drivers and restraints of the induction motor market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the induction motor market on a global level.
In order to give the users of this report a comprehensive view of the induction motor market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the induction motor market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to regions.
The study provides a decisive view of the induction motor market based on type, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. The regional segment of the induction motor market includes the historical and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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.
|Induction Motor Market Research Report
|Market Size in 2018
|USD 11.92 Billion
|Market Forecast in 2025
|USD 27.34 Billion
|CAGR of 12.3%
|Number of Pages
|Key Companies Covered
|Kirloskar Electric Company, Marathon Electric, ABB, Regal Beloit Corporation, Schneider Electric, Emerson Electric Company, Siemens AG, and Baldor Electric Company.
|By Type, By Application, And By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|2014 to 2017
|2019 - 2025
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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 are:
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.
The global Induction Motor Market size was worth around USD 11.92 billion in 2018 and is predicted to grow to around USD 27.34 billion by 2025.
The CAGR value of the Induction Motor Market is expected to be around 12.3% during 2019-2025.
Some key players of the global induction motor market are Kirloskar Electric Company, Marathon Electric, ABB, Regal Beloit Corporation, Schneider Electric, Emerson Electric Company, Siemens AG, and Baldor Electric Company.