Reports

Induction Motor Market

Global Induction Motor Market: By Product Type: Single Phase Induction Motors, Three Phase Induction Motors; By End Use: Industrial, Commercial, Residential; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Induction Motor Market Outlook

The global induction motor market size was around USD 18.35 billion in 2022. The market is further projected to grow at a CAGR of 9.5% over the forecast period of 2023-2028 to attain a value of USD 31.65 billion by 2028.

 

Induction Motor Market

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The induction motor industry is being driven by the rise in the sales of electric vehicles owing to the growing environmental concern and increased demand for eco-friendly products. The rapid technological advancements are further supporting the market growth globally. The industrial segment, among various end-use sectors, leads the industry. The growth of this segment can be attributed to the increased demand for asynchronous motors owing to its characteristics and efficiency. 

Region-wise, the Asia Pacific is the leading induction motor market, accounting for a significant share in the global industry. The Asia Pacific induction motor market is supported by the growth of the heating, ventilation, and air conditioning (HVAC) industry and the increasing popularity of electric vehicles in the region owing to the increased government expenditure to curb pollution level in countries like China and India.

 

Induction Motor Market by End Use

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Market Segmentation

Induction motor, also called asynchronous motor, is an AC electric motor that can be produced without any electronic links to the rotor. This motor, which is utilised in most machineries today, is more reliable, powerful, and environmentally friendly than the traditional motors. Owing to its high durability and reduced maintenance cost, it is widely used in pumps, small fans, electric shavers, cranes, textile industry, and oil extracting mills, among others. 

 The various induction motor product types available in the industry include:

  • Single Phase Induction Motors
  • Three Phase Induction Motors

On the basis of end-use, the industry is divided into:

  • Industrial
  • Commercial
  • Residential

The report also covers the regional induction motor markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Induction Motor Market by Region

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Market Analysis

The global induction motor market is aided by the rapid technological advancement and growing preference for electric vehicles. The affordable nature and easy functionality of such motors are resulting in its increased adoption in the industrial sector for various applications. 

The growing need for energy-efficient products and devices in homes, manufacturing complexes, and energy infrastructures is resulting in the increased demand for induction motors. Induction motors are increasingly being adopted because they are robust, can hold smaller loads and provide reduced aftersales expenditure and services. Induction motors are commonly used in compressor load systems, fans, and other applications as they help in saving a considerable amount of energy. As it can operate efficiently even in varying climatic conditions, its demand is witnessing a significant growth. 

Moreover, the rising concerns regarding climate change and environmental pollution, coupled with the growing acceptance of technology, are leading to an increased preference for induction motors. The stringent government regulations pertaining to the use of environmentally friendly and sustainable vehicles is providing a boost to the industry. This is resulting in the increased sales of electric vehicles, which, in turn, is driving the demand for induction motors. The induction motor market players are continuously innovating and expanding their product range into developing advanced features with e-assistance services such as Smart Induction Motor Monitoring System (SEMS) in e-bikes and other vehicle types, which is expected to further aid the growth of the industry over the forecast period.

 

Competitive Landscape

The report gives a detailed analysis of the following key players in the global induction motor market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • ABB Ltd
  • AMETEK Inc.
  • Siemens
  • Johnson Electric Holdings Limited
  • Regal Beloit Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, End Use, Region
Breakup by Product Type Single Phase Induction Motors, Three Phase Induction Motors
Breakup by End Use Industrial, Commercial, Residential
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered ABB Ltd, AMETEK Inc., Siemens, Johnson Electric Holdings Limited, Regal Beloit Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Induction Motor Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Induction Motor Historical Market (2018-2022) 
    8.3    Global Induction Motor Market Forecast (2023-2028)
    8.4    Global Induction Motor Market by Product Type
        8.4.1    Single Phase Induction Motors  
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Three Phase Induction Motors
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Induction Motor Market by End Use
        8.5.1    Industrial 
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Commercial
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Residential
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Induction Motor Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022)
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022)
            8.6.5.3    Forecast Trend (2023-2028)
9    North America Induction Motor Market Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022)
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022)
        9.2.3    Forecast Trend (2023-2028)
10    Europe Induction Motor Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022)
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022)
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022)
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022)
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Induction Motor Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022)
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022)
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022)
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022)
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022)
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin  America Induction Motor Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022)
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022)
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022)
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Induction Motor Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022)
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022)
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022)
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022)
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    ABB Ltd
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    AMETEK Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Siemens
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Johnson Electric Holdings Limited
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Regal Beloit Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends  and Developments in the Market


List of Key Figures and Tables

1.    Global Induction Motor Market: Key Industry Highlights, 2018 and 2028
2.    Global Induction Motor Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3.    Global Induction Motor Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4.    Global Induction Motor Historical Market: Breakup by End Use (USD Billion), 2018-2022
5.    Global Induction Motor Market Forecast: Breakup by End Use (USD Billion), 2023-2028
6.    Global Induction Motor Historical Market: Breakup by Region (USD Billion), 2018-2022
7.    Global Induction Motor Market Forecast: Breakup by Region (USD Billion), 2023-2028
8.    North America Induction Motor Historical Market: Breakup by Country (USD Billion), 2018-2022
9.    North America Induction Motor Market Forecast: Breakup by Country (USD Billion), 2023-2028
10.    Europe Induction Motor Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    Europe Induction Motor Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Asia Pacific Induction Motor Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Asia Pacific Induction Motor Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Latin America Induction Motor Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Latin America Induction Motor Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Middle East and Africa Induction Motor Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Middle East and Africa Induction Motor Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Global Induction Motor Market Structure

Key Questions Answered in the Report

What was the market size in 2022?

The global induction motor market reached a value of USD 18.35 billion in 2022. 

What is the growth rate of the global induction motor market?

The market is projected to grow at a CAGR of nearly 9.5% in the forecast period of 2023-2028.

What is the forecast outlook of the global induction motor market for 2023-2028?

The market is estimated to reach a value of about USD 31.65 billion by 2028.

What are the major market drivers?

The major market drivers include rising disposable incomes, increasing sales of electric vehicles, rising environmental concerns, and rapid technological advancements.

What are the key trends of the global induction motor market?

The stringent government regulations pertaining to the use of environmentally friendly and sustainable vehicles is expected to be a key trend guiding the growth of the market.

What are the major regional markets of induction motor, according to the EMR report?

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.

What are the significant product types considered in the market report?

The significant product types considered in the market report include single phase induction motors and three phase induction motors.

What are the major end uses of induction motor?

Industrial, commercial, and residential are the major end uses of induction motor.

Who are the key market players, according to the report?

The leading players in the market are ABB Ltd, AMETEK Inc., Siemens, Johnson Electric Holdings Limited, and Regal Beloit Corporation, among others.

Analyst Review

The global induction motor market attained a value of USD 18.35 billion in 2022, driven by the growth in the technological advancements. Aided by the rising government expenditure to curb pollution level, the industry is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 9.5%. The industry is projected to reach USD 31.65 billion by 2028.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its types, the global induction motor market can be segmented into single phase induction motors and three phase induction motors. On the basis of end use, industrial sector accounts for the largest share in the global industry. The major regional markets for induction motor are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include ABB Ltd, AMETEK Inc., Siemens, Johnson Electric Holdings Limited, and Regal Beloit Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.  

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