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The Europe induction motor market is currently witnessing strong growth. An induction motor, or an asynchronous motor, refers to an AC electric motor that can be prepared without electrical connections to the rotor. It works under varying climatic conditions and is safe to be used in heavily polluted and explosive conditions. Due to its robustness, affordability, durability, easy-functioning, and maintenance, the induction motor finds extensive applications in pumps, small fans, electric shavers, cranes, crushers, and oil extracting mills.
Europe represents the third largest market for induction motors across the globe. The market is primarily driven by the rapid development of electric vehicles (EVs) across the region. Induction motors are considered suitable for different driving cycles, high power density, varied operating speed, high starting torque and improved power factor necessary for the proper functioning of EVs. Apart from this, countries in Europe have begun following the standards set by organizations, such as IEC and NEMA, to reduce greenhouse gas emissions. As a result, there has been a rise in the demand for induction motors that consume less energy and are better for the environment. Furthermore, various technological advancements in power electronics, supported by the digitalization of smart homes, also provide a positive impact on the industry. Looking forward, the market is expected to continue its strong growth during the forecast year (2020-2025).
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe 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:
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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