induction motor market
Induction Motor Market Growth increases with Rising focus on reducing greenhouse gas emissions; North America and Europe constitute the largest Induction Motor markets in terms of consumption, production
Induction Motor Market Growth increases with Rising focus on reducing greenhouse gas emissions; North America and Europe constitute the largest Induction Motor markets in terms of consumption, production
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Induction Motor Market Trends Forecast By 2023<br />
The global <strong>induction</strong> <strong>motor</strong> <strong>market</strong> is driven by technological advancement. This trend is<br />
projected to offer significant growth opportunities to companies that are operating in the global<br />
<strong>induction</strong> <strong>motor</strong> . One of the new technologies that are gaining traction in the global <strong>induction</strong><br />
<strong>motor</strong> <strong>market</strong> is called copper rotor <strong>induction</strong> <strong>motor</strong>. This <strong>motor</strong> serves as a strong alternative to<br />
the permanent magnet <strong>motor</strong> used in electric vehicles.<br />
The research report offers a detailed analysis of the technologies available in the global <strong>induction</strong><br />
<strong>motor</strong> as well as the upcoming ones. Furthermore, the major technological milestones are also<br />
mentioned in the study. Broadly, the global <strong>induction</strong> <strong>motor</strong> is segmented on the basis of type,<br />
product, application, end use, and geography.<br />
A detailed analysis of the key segments of the global <strong>induction</strong> <strong>motor</strong> <strong>market</strong> has been covered in<br />
the study. Each segment’s historical data and forecast values are presented along with the trends<br />
shaping the growth of these key segment. After reading the report, businesses and professionals<br />
in the global <strong>induction</strong> <strong>motor</strong> <strong>market</strong> will gain the latest insights into <strong>induction</strong> <strong>motor</strong> products<br />
and technologies.<br />
Overview of the Global Induction Motor<br />
The global <strong>induction</strong> <strong>motor</strong> <strong>market</strong> is driven by the elevated need for power savings in<br />
households, manufacturing hubs, and energy infrastructure. Induction <strong>motor</strong>s are also known as<br />
asynchronous <strong>motor</strong>s. These <strong>motor</strong>s are used because they are reliable, carry smaller loads, and<br />
reduce aftersales service and cost. Importantly, they can help save a substantial amount of<br />
energy. Induction <strong>motor</strong>s are used widely in applications such as compressor load applications,<br />
fans, and others.<br />
Get accurate <strong>market</strong> forecast and analysis on the Induction Motor Market. Request a<br />
sample to stay abreast on the key trends impacting this <strong>market</strong> :<br />
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Another trend driving the global <strong>induction</strong> <strong>motor</strong> <strong>market</strong> is the rising focus on reducing<br />
greenhouse gas emissions. This is revving up the use of <strong>induction</strong> <strong>motor</strong>s in every sector, driving<br />
the demand for <strong>induction</strong> <strong>motor</strong>s substantially. The global <strong>induction</strong> <strong>motor</strong> <strong>market</strong> will also<br />
benefit from the rising government funding, which is encouraging manufacturers to invest in<br />
<strong>induction</strong> <strong>motor</strong> manufacturing.<br />
By product, the global <strong>induction</strong> <strong>motor</strong> is segmented into synchronous <strong>motor</strong>s, direct current<br />
(DC) <strong>motor</strong>s, asynchronous <strong>motor</strong>s, and others. According to type, the global <strong>induction</strong> <strong>motor</strong><br />
<strong>market</strong> is classified into IE1, IE2, IE3, and IE4. On the basis of application, the global <strong>induction</strong><br />
<strong>motor</strong> is divided into HVAC, fans, pumps, compressed air, material processing, material<br />
handling, and others. According to end use, the <strong>market</strong> is segregated into residential, industrial,
commercial building, agricultural sector, transportation, and others.<br />
Regionally, the global <strong>induction</strong> <strong>motor</strong> is segmented into North America, Europe, Asia Pacific,<br />
Latin America, and the Middle East and Africa. North America and Europe constitute the largest<br />
<strong>market</strong>s for <strong>induction</strong> <strong>motor</strong>s in terms of consumption, production, and exports. On the other<br />
hand, emerging economies such as Korea, Brazil, India, China, Thailand, and South Africa are<br />
presenting massive opportunities for global manufacturers.<br />
Although the aforesaid trends will drive the global <strong>induction</strong> <strong>motor</strong> , it will be suppressed by cost<br />
issues. The installation cost of <strong>induction</strong> <strong>motor</strong>s is quite high, which is restraining the global<br />
<strong>induction</strong> <strong>motor</strong> . Moreover, many manufacturers in the global <strong>induction</strong> <strong>motor</strong> are not able to<br />
get the required resources to start manufacturing these <strong>motor</strong>s, challenging the <strong>market</strong> further.<br />
Companies mentioned in the research report<br />
Product innovation is one of the key strategies adopted by companies in the global <strong>induction</strong><br />
<strong>motor</strong> . The key players operating in the global <strong>induction</strong> <strong>motor</strong> are Marathon Electric, Kirloskar<br />
Electric Company, Regal Beloit Corporation, ABB Ltd., Emerson Electric Company, Schneider<br />
Electric SE, Siemens AG, and Baldor Electric Company.<br />
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