The global induction motor market was worth US$ 15.4 Billion in 2019. Induction motor, also known as, asynchronous motor, is an AC electric motor which can be made without any electronic connections to the rotor. Used in a majority of machinery today, the motor is more powerful and environment-friendly in comparison to the conventional motors currently available in the market. The unique robustness of the induction motor makes it a suitable choice for the automotive and manufacturing industry. Its ability to work under varying climatic conditions is another major factor that is driving its demand.
The motor is absolutely safe to be used in heavily polluted and explosive work conditions. With high durability, it can be used for years without worrying for maintenance. It has applications in pumps, small fans, electric shavers, cranes, crushers, textile industry, oil extracting mills, etc. Another major factor driving the demand of induction motors is their environment-friendly nature. A major trend influencing the market is the rising focus on the reduction of emission of greenhouse gases and the rising demand of products that consumer less energy. With induction motors consuming significantly lesser energy compared to conventional motors, they represent a better alternative for the environment. Affordability, durability, easy-functioning and easy maintenance are some of the other major factors that are also driving the demand of induction motors. Looking forward, IMARC Group expects the global induction motor market to exhibit moderate growth during 2020-2025.
Market Summary:
- Based on the product type, the market has been segmented as single phase induction motor and three phase induction motor.
- Based on the end use, the market has been segmented into industrial, commercial and residential. The industrial sector currently represents the largest segment.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market.
- The competitive landscape of the market has also been examined with some of the induction motor market players being ABB, Ametek, Emerson Electric, Siemens, WEG, Baldor Electric, Brook Crompton, Danaher Corporation, Johnson Electric Holdings and Regal Beloit.
This report provides a deep insight into the global induction motor market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the induction motor industry in any manner.
Key Questions Answered in This Report:
The global induction motor market was worth around US$ 15.4 Billion in 2019.
According to the estimates by IMARC Group, the global induction motor market will exhibit moderate growth during the next five years.
The growing adoption of induction motors for several industrial purposes based on their steady performance in heavily polluted and explosive work conditions, represents one of the key drivers for the global induction motor market.
The rapid shift from conventional motors towards induction motors to reduce the greenhouse gas emissions and minimize the energy consumption, represents one of the key trends in the global induction motor market.
The sudden outbreak of the COVID-19 pandemic negatively impacted the market growth as the implementation of stringent lockdown regulations across several nations has led to temporary shutdown of numerous end-use industries for induction motors.
On the basis of the product type, the market has been bifurcated into single phase and three phase induction motors, where three phase induction motor currently account for the largest market share.
On the basis of the end use, the market has been classified into industrial, commercial, and residential sectors. At present, the industrial sector leads the global market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific holds the largest market share.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Induction Motor Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product Type
5.5 Market Breakup by End-Use Sector
5.6 Market Breakup by Region
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.9.1 Overview
5.9.2 Research and Development
5.9.3 Raw Material Procurement
5.9.4 Manufacturing
5.9.5 Distribution
5.9.6 Export
5.9.7 End-Use
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
5.11 Price Analysis
5.11.1 Key Price Indicators
5.11.2 Price Structure
5.11.3 Margin Analysis
6 Market Breakup by Product Type
6.1 Single Phase Induction Motors
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Three Phase Induction Motors
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by End-Use Sector
7.1 Industrial
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Commercial
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Residential
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Region
8.1 Asia Pacific
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 North America
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Europe
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 Induction Motor Manufacturing Process
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 ABB
10.3.2 Ametek
10.3.3 Emerson Electric
10.3.4 Siemens
10.3.5 WEG
10.3.6 Baldor Electric
10.3.7 Brook Crompton
10.3.8 Danaher Corporation
10.3.9 Johnson Electric Holdings
10.3.10 Regal Beloit
List of Figures
Figure 1: Global: Induction Motor Market: Major Drivers and Challenges
Figure 2: Global: Induction Motor Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Induction Motor Market: Breakup by Product Type (in %), 2019
Figure 4: Global: Induction Motor Market: Breakup by End-Use Sector (in %), 2019
Figure 5: Global: Induction Motor Market: Breakup by Region (in %), 2019
Figure 6: Global: Induction Motor Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 7: Induction Motor Market: Total Production Cost Breakup (in %)
Figure 8: Induction Motor Market: Price Structure (in US$/Unit)
Figure 9: Global: Induction Motor Industry: SWOT Analysis
Figure 10: Global: Induction Motor Industry: Value Chain Analysis
Figure 11: Global: Induction Motor Industry: Porter’s Five Forces Analysis
Figure 12: Global: Induction Motor (Single Phase) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Induction Motor (Single Phase) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Induction Motor (Three Phase) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Induction Motor (Three Phase) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Induction Motor (Industrial) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Induction Motor (Industrial) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Induction Motor (Commercial) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Induction Motor (Commercial) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Global: Induction Motor (Residential) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Global: Induction Motor (Residential) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: Asia Pacific: Induction Motor Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: Asia Pacific: Induction Motor Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: North America: Induction Motor Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: North America: Induction Motor Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Europe: Induction Motor Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Europe: Induction Motor Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Middle East and Africa: Induction Motor Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Middle East and Africa: Induction Motor Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: Latin America: Induction Motor Market: Sales Value (in Million US$), 2014 & 2019
Figure 31: Latin America: Induction Motor Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 32: Induction Motor Manufacturing: Detailed Process Flow
List of Tables
Table 1: Global: Induction Motor Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Induction Motor Market Forecast: Breakup by Product Type (in Million US$), 2020-2025
Table 3: Global: Induction Motor Market Forecast: Breakup by End-Use Sector (in Million US$), 2020-2025
Table 4: Global: Induction Motor Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 5: Induction Motor Manufacturing: Raw Material Requirements
Table 6: Global: Induction Motor Market: Competitive Structure
Table 7: Global: Induction Motor Market: Key Players