Asia Pacific Induction Motor Market Share, Size, Growth, Opportunity and Forecast 2020-2025

Press Release:

Asia Pacific Induction Motor Market to Witness Strong Growth During 2020-2025, Stimulated by Growing Demand for E-Vehicles

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Asia Pacific Induction Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The Asia Pacific induction motor market is currently witnessing strong growth. An induction motor refers to an AC electric motor that uses the magnetic field of the stator winding to produce an electrical current in the rotor. It is also known as an asynchronous motor and provides torque via electromagnetic induction. The induction motor can be prepared without electrical connections to the rotor. In recent years, induction motors have gained immense traction as they offer various advantages, which include ease of operation in different environmental conditions, high starting torque, speed variation, and durability.

The Asia Pacific induction motor market is primarily driven by the rising demand for consumer electronics such as air conditioners, washing machines, dishwashers and hair dryers. The market is further propelled by the unique robustness of the induction motor, which makes it a suitable choice for the manufacturing and automotive industries. Its ability to work under varying climatic conditions is another major factor that is driving its demand. Moreover, with induction motors consuming significantly lesser energy compared to conventional engines, they represent a better alternative for the environment. As a result, with the growing environmental concerns, there has been an escalated demand for electric vehicles, which, in turn, is driving the market growth. On account of these factors, the market is expected to continue its strong growth during the forecast period (2020-2025).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific induction motor market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, product type and end use sector.

Breakup by Product Type:

Single Phase Induction Motor
Three Phase Induction Motor

Breakup by End Use Sector:

Industrial
Commercial
Residential

Breakup by Country:

China
Japan
India
South Korea
Australia
Indonesia
Others

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Questions Answered in This Report:

How has the Asia Pacific induction motor market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Asia Pacific induction motor market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the end use sector?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the Asia Pacific induction motor market and who are the key players?
What is the degree of competition in the industry?