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Induction Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global induction motor market size reached US$ 20.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.41% during 2023-2028.

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.

 

 
 

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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. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global induction motor market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and end-use sector.

Breakup by Product Type:

 

 
 

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  • Single Phase Induction Motors
  • Three Phase Induction Motors
     

Based on the product type, the market has been segmented as single phase induction motor and three phase induction motor.

Breakup by End-Use Sector:

  • Industrial 
  • Commercial 
  • Residential 
     

Based on the end use, the market has been segmented into industrial, commercial and residential. The industrial sector currently represents the largest segment.

Breakup by Region:

 

 
 

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  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
     

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.

Competitive Landscape:

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, 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product Type, End-Use Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered ABB, Ametek, Emerson Electric, Siemens, WEG, Brook Crompton, Danaher Corporation, Johnson Electric Holdings and Regal Beloit
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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    Brook Crompton
        10.3.7    Danaher Corporation
        10.3.8    Johnson Electric Holdings
        10.3.9    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$), 2017-2022
Figure 3: Global: Induction Motor Market: Breakup by Product Type (in %), 2022
Figure 4: Global: Induction Motor Market: Breakup by End-Use Sector (in %), 2022
Figure 5: Global: Induction Motor Market: Breakup by Region (in %), 2022
Figure 6: Global: Induction Motor Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Induction Motor Market: Total Production Cost Breakup (in %)
Figure 8: Induction Motor Market: Price Structure
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$), 2017 & 2022
Figure 13: Global: Induction Motor (Single Phase) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Induction Motor (Three Phase) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Induction Motor (Three Phase) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Induction Motor (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Induction Motor (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Induction Motor (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Induction Motor (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Induction Motor (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Induction Motor (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Asia Pacific: Induction Motor Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Asia Pacific: Induction Motor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Induction Motor Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Induction Motor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Europe: Induction Motor Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Europe: Induction Motor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Middle East and Africa: Induction Motor Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Middle East and Africa: Induction Motor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Latin America: Induction Motor Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Latin America: Induction Motor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Induction Motor Manufacturing: Detailed Process Flow

List of Tables

Table 1: Global: Induction Motor Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Induction Motor Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: Global: Induction Motor Market Forecast: Breakup by End-Use Sector (in Million US$), 2023-2028
Table 4: Global: Induction Motor Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Induction Motor Manufacturing: Raw Material Requirements
Table 6: Global: Induction Motor Market: Competitive Structure
Table 7: Global: Induction Motor Market: Key Players


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Key Questions Answered in This Report

The global induction motor market was valued at US$ 20.0 Billion in 2022.

We expect the global induction motor market to exhibit a CAGR of 8.41% during 2023-2028.

The rising consumer inclination towards induction motors over conventional motors for reducing emission of greenhouse gases, owing to their numerous properties, such as affordability, durability, easy-functioning, easy maintenance, etc., is primarily driving the global induction motor market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for induction motors.

Based on the product type, the global induction motor market has been segregated into single phase induction motors and three phase induction motors, where three phase induction motors currently hold the largest market share.

Based on the end-use sector, the global induction motor market can be bifurcated into industrial, commercial, and residential. Currently, the industrial sector exhibits a clear dominance in the market.

On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global induction motor market include ABB, Ametek, Emerson Electric, Siemens, WEG, Brook Crompton, Danaher Corporation, Johnson Electric Holdings, and Regal Beloit.

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