GLOBAL INDUCTION MOTORS MARKET FORECAST 2019-2027

  • You are here:
  • Home
  • Reports
  • GLOBAL INDUCTION MOTORS MARKET FORECAST 2019-2027

GLOBAL INDUCTION MOTORS MARKET FORECAST 2019-2027

 The global induction motor market revenue is expected to reach $37.72 billion by 2027, growing healthily during the forecast period at a CAGR of 11.76%. The base year considered for the market study is 2018 & the estimated period is between 2019 & 2027. The global induction motor market is driven by factors such as Rising demand for electric vehicles across the globe. The affordable price of induction motors. Low maintenance cost as compared to other motors. Technological advancements in induction motors

GLOBAL INDUCTION MOTORS MARKET FORECAST 2019-2027

Global Induction Motors Market By Type (single Phase, Three Phase) By Application (commercial, Industrial, Residential) By Geography.

Request free sample

One of the major achievements in the field of technology & engineering is the invention of motors, or more precisely, the electric motors. One of the most commonly used electrical motors is the induction motor, also known as the asynchronous motor since it runs at speeds lower than the synchronous speed. From household appliances to industrial machinery, induction motors have a wide range of applications. Global induction motor market deals with motors in which the torque is produced due to the reaction between the electromagnetic field & current induced in the rotor coils. The induction motor is manufactured without any electrical connections to the rotors. The induction motor can have two types of rotors: wound type or squirrel-cage type.

The global induction motor market revenue is expected to reach $37.72 billion by 2027, growing healthily during the forecast period at a CAGR of 11.76%. The base year considered for the market study is 2018 & the estimated period is between 2019 & 2027. The global induction motor market is driven by factors such as:

  • Rising demand for electric vehicles across the globe
  • The affordable price of induction motors
  • Low maintenance cost as compared to other motors
  • Technological advancements in induction motors
  • Surging automation industries
  • Growing demand for energy-efficient motors

Global induction motor market is primarily driven by the rising demand for electric vehicles, technological advancement, and the rapid rate of industrialization in emerging countries. There is a tremendous pressure on countries at a global forefront to cut the greenhouse gases emission. For this, they are promoting electric vehicles globally. On 12 December 2015, the “Paris agreement” was signed by 175 countries which aimed at reducing the global CO2 emission by XX% by the end of 2025.

According to the Consumers Union, the sale of electric vehicles across the globe crossed XX million units in 2017. The growing demand for electric vehicles is offering huge opportunities for the adoption of induction motors. Moreover, technological advancements in the induction motors are also escalating the adoption of induction motors.

Industrial application is the leading segment in terms of revenue in the global induction motor market, with around 50% market share in 2018. The dominance of the industrial application is primarily attributed to the growing industrial sector across countries. As per the United Nations Industrial Development Organization, global manufacturing value added is estimated to rise by XX% in 2016. In addition, the shift towards industrial automation, coupled with the rising consumer confidence & promising investment plans triggers demand for the induction motor in industrial application. Furthermore, the advent of Industry 4.0 enables a wide adoption base for the induction motors. Also, as per the United Nation’s Industrial Development Organization, the global manufacturing output is anticipated to rise by XX% in Q2 2017 as compared to XX% in Q2 2016.

Moreover, the residential application segment is anticipated to grow at the highest CAGR of around XX% during the forecast period. The fastest growth rate of the residential sector is attributed to the increasing demand for household appliances, increasing urbanization, smart homes, digitalization & others. According to the Technical Report, M2M/ IoT Enablement in Smart Homes, the smart home penetration in North America in 2016 was XX%, while Asia Pacific remained at XX% & Europe recorded XX%.

With increasing adoption of induction motors, newer challenges have been introduced in the market. The market is highly fragmented, with intense rivalry among local & international vendors. Many major vendors are finding it hard to contend with low-cost manufacturers from China. The low entry barrier has made the market even more competitive. The economic slowdown has also ensured that companies have to lower their prices to increase their sales in the market.

Furthermore, the rising price of raw materials affects manufacturers’ profit margins & their pricing strategies. The main raw materials, including steel, aluminum, & copper have so much volatility in their pricing that it not only affects the availability to vendors but also plays a direct role in their operational costs. Moreover, the high installation cost of the manufacturing facility is another major factor that is restricting the growth of the global induction motor market.

Report scope of the global induction motor market covers segmentation analysis of type & application.

Market by Type:

  • Single phase induction motor
  • Three phase induction motor

Market by Applications:

  • Commercial
  • Industrial
  • Residential

To calculate the market size & vendor share, the report considers revenue generated from the sales of different types of induction motors & revenues from sales amongst the various end-users.

On the basis of geography, the global induction motors market has been segmented into four major regions:

Geographically, Asia Pacific is expected to hold the largest market share, i.e., 38.66% in terms of revenue with approximately $XX billion in 2018. The Asia Pacific induction motor market growth is justified by the increasing demand from the electric vehicles & the growth in the HVAC (Heating, ventilation, & air conditioning) industry.

Similarly, rapid industrialization & increasing manufacturing sector in countries such as China and India are pouring the demand for numerous end-user applications of induction motors.

Further, as per the United Nations Industrial Development Organization (UNIDO), the manufacturing growth across the Asia Pacific was expected to rise to XX% in the 2nd quarter of 2017 as compared to XX% in 2nd quarter of 2016. Moreover, the demand for electric vehicles & government initiatives to reduce greenhouse gas emissions also drive the Asia Pacific induction motor market. For instance, the Chinese government provides rebates in vehicle registration fee & purchase tax for all varieties of electric vehicles such as fuel-cell, pure electric & plug-in hybrid vehicles. The Japan Government also provides special allowance by not charging acquisition & tonnage tax to the electric vehicles.

Global induction motor market has been segmented by type & application. The application segment is further sub-segmented into commercial, industrial, & residential. There are two types of induction motor depending on the input supply – the single-phase induction motor & the three-phase induction motor.

The market has some players & some of the key players involved in global induction motor market are as follows:

  • Nidec Motor Corporation
  • ABB Ltd.
  • Siemens AG
  • WEG Electric Corp.
  • Regal Beloit Corporation
  • & Other Companies

Market share analysis, key company analysis, key corporate strategies along with company profiles of the key companies are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, or new product launch to gain a competitive edge over each other. For instance, In October 2018, Nidec Motor Corporation (NMC) introduced TITAN® II WPI and WPII 449 frame vertical motors available in both HOLLOSHAFT® and solid shaft constructions.

In October 2018, WEG Japan was awarded an important contract for the supply of four Flameproof Tube-Cooled motors and spare parts for a large scale fertilizer production plant in the Middle East area.

In July 2018, Nidec Corporation acquired CIMA S.p.A, an Italian commercial motor manufacturer. In April 2018, General Electric Corporation completed its no-load testing of an 80 MW two-pole induction motor for the LNG industry in its factory in Nancy, France. In January 2018, Regal Beloit Corporation unveiled the Ensite® motor, which is specially designed for furnace applications.

In May 2017, Johnson Electric’s operational division, the Industry Products Group (IPG) launched a motor production line to serve the appliance industry in Argentina.

 Key findings of induction motors market:

  • The Asia Pacific is the largest & the fastest growing market of all the regions. It accounted for XX% of the total market share in 2018 in terms of revenue and is likely to grow further during the forecast period.
  • Three phase induction motors dominated the market in 2018. This rise in the market share of three-phase induction motors is because of the increase in industrialization & automation worldwide & growing reliability of three-phase induction motors over single phase induction motors.
  • Growing demand for energy-efficient motors is expected to create huge growth opportunity over the forecast period.
  • The residential segment in induction motor market is projected to grow fastest with CAGR of XX% during the forecasted period 2019-2027.

  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY & FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • CHINA & INDIA – LUCRATIVE MARKET DESTINATIONS FOR INDUCTION MOTORS
      • THREE PHASE SEGMENT ACCOUNTED FOR THE LARGEST REVENUE SHARE
      • RESIDENTIAL SEGMENT TO WITNESS HIGHEST CAGR
      • SURGING AUTOMATION INDUSTRIES
      • DEVELOPMENT OF CARBON NANOTUBE YARNS
  1. MARKET DYNAMICS
    • ETYMOLOGY OF INDUCTION MOTORS
    • PARENT MARKET ANALYSIS: AC MOTOR
    • MARKET DEFINITION & SCOPE
    • MARKET DRIVERS
      • RISING DEMAND FOR ELECTRIC VEHICLES ACROSS THE WORLD
      • AFFORDABLE PRICE OF INDUCTION MOTORS
      • LOW MAINTENANCE COST AS COMPARE TO OTHER MOTORS
      • TECHNOLOGICAL ADVANCEMENTS IN INDUCTION MOTORS
    • MARKET RESTRAINTS
      • HIGHLY FRAGMENTED MARKET
      • HIGH INSTALLATION COST OF MANUFACTURING FACILITY
    • MARKET OPPORTUNITIES
      • EMERGENCE OF ASIA PACIFIC AS AN INDUSTRIAL BASE
      • GROWING DEMAND FOR ENERGY-EFFICIENT MOTORS
    • MARKET CHALLENGES
      • VOLATILITY IN RAW MATERIAL PRICES
  1. MARKET BY TYPE
    • SINGLE PHASE
    • THREE PHASE
  2. MARKET BY APPLICATION
    • COMMERCIAL
    • INDUSTRIAL
    • RESIDENTIAL
  3. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • KEY BUYING CRITERIA
      • PRICE
      • EFFICIENCY
      • SPEED RATING
      • INSULATION
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
      • RAW MATERIAL SUPPLIERS
      • MANUFACTURERS
      • DISTRIBUTORS & RETAILERS
      • END-USERS
    • INVESTMENT ANALYSIS
      • BY REGION
      • BY APPLICATION
      • BY TYPE
  1. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • KEY COMPANY ANALYSIS
    • CORPORATE STRATEGIES
      • PRODUCT LAUNCH
      • ROADMAP
    • COMPANY PROFILES
      • ABB LTD. (ASEA BROWN BOVERI)
      • AMETEK ADVANCED MOTION SOLUTIONS
      • BROOK CROMPTON COMPANY
      • DANAHER CORPORATION
      • FUJI ELECTRIC CO., LTD.
      • GENERAL ELECTRIC COMPANY
      • JOHNSON ELECTRIC
      • KIRLOSKAR ELECTRIC CO. LTD.
      • MMC ELECTRIC COMPANY PVT. LTD. (DYNAFLUX)
      • NIDEC MOTOR CORPORATION
      • ORIENTAL MOTOR CORPORATION
      • REGAL BELOIT CORPORATION
      • ROCKWELL AUTOMATION, INC
      • SIEMENS AG
      • WEG ELECTRIC CORPORATION

LIST OF TABLES

TABLE 1: GLOBAL INDUCTION MOTORS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: WORLDWIDE SALES OF ELECTRIC VEHICLES IN 2017 (MONTH-WISE SALES)

TABLE 3: COUNTRY-WISE STOCK TARGETS OF ELECTRIC VEHICLE TILL 2020

TABLE 4: COMPARISON BETWEEN SYNCHRONOUS & 3-PHASE INDUCTION MOTORS

TABLE 5: CONTRAST BETWEEN DIFFERENT COMMERCIALLY AVAILABLE MOTOR TECHNOLOGIES

TABLE 6: COMPARISON OF EFFICIENCY CLASSES

TABLE 7: GLOBAL INDUCTION MOTORS MARKET, BY TYPE, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL SINGLE PHASE INDUCTION MOTOR MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL THREE PHASE INDUCTION MOTOR MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL INDUCTION MOTORS MARKET, BY APPLICATION, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL COMMERCIAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL INDUSTRIAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL RESIDENTIAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: OPPORTUNITY MATRIX

TABLE 15: VENDOR LANDSCAPE

TABLE 16: GLOBAL INDUCTION MOTORS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 17: NORTH AMERICA INDUCTION MOTORS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 18: EUROPE INDUCTION MOTORS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 19: ASIA PACIFIC INDUCTION MOTORS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 20: REST OF WORLD INDUCTION MOTORS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21: LIST OF PRODUCT LAUNCHES

TABLE 22: LIST OF ROADMAP

LIST OF FIGURES

FIGURE 1: GLOBAL INDUCTION MOTORS MARKET, BY APPLICATION, 2019-2027 (IN $ MILLION)

FIGURE 2: WAGES RELATED WITH AUTOMATABLE ACTIVITIES ACROSS THE WORLD

FIGURE 3: TIMELINE OF INDUCTION MOTORS

FIGURE 4: RISING HOUSEHOLD INCOME IN KEY COUNTRIES, 2014-2016 (IN $ MILLION)

FIGURE 5: WORLDWIDE SALES OF LIGHT DUTY ELECTRIC VEHICLES, 2014-2024 (IN MILLION UNITS)

FIGURE 6: WORLDWIDE PRICE FLUCTUATIONS IN IRON ORE PRICES, 2010-2016 (IN $ PER METRIC TON)

FIGURE 7: GLOBAL INDUCTION MOTORS MARKET, BY SINGLE PHASE, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL INDUCTION MOTORS MARKET, BY THREE PHASE, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL INDUCTION MOTORS MARKET, BY COMMERCIAL, 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL INDUCTION MOTORS MARKET, BY INDUSTRIAL, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL INDUCTION MOTORS MARKET, BY RESIDENTIAL, 2019-2027 (IN $ MILLION)

FIGURE 12: PORTER’S FIVE FORCE ANALYSIS

FIGURE 13: KEY BUYING IMPACT ANALYSIS

FIGURE 14: VALUE CHAIN ANALYSIS

FIGURE 15: INVESTMENT ANALYSIS OF INDUCTION MOTORS MARKET, BY REGION, IN 2018

FIGURE 16: INVESTMENT ANALYSIS OF INDUCTION MOTORS MARKET, BY APPLICATION, IN 2018

FIGURE 17: INVESTMENT ANALYSIS OF INDUCTION MOTORS MARKET, BY TYPE, IN 2018

FIGURE 18: GLOBAL INDUCTION MOTORS MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 19: UNITED STATES INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 20: CANADA INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21: UNITED KINGDOM INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22: FRANCE INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23: GERMANY INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24: SPAIN INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25: ITALY INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26: REST OF EUROPE INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: CHINA INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: INDIA INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: JAPAN INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: SOUTH KOREA INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: AUSTRALIA INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: REST OF ASIA PACIFIC INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33: LATIN AMERICA INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: MIDDLE EAST & AFRICA INDUCTION MOTORS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: MARKET SHARE ANALYSIS OF KEY PLAYERS IN 2018 (IN %)

  1. MARKET BY TYPE
    • SINGLE PHASE
    • THREE PHASE
  2. MARKET BY APPLICATION
    • COMMERCIAL
    • INDUSTRIAL
    • RESIDENTIAL
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

 

To request a free sample copy of this report, please complete the form below :

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.

Choose License Type

Buy Now