Global Induction Motor Market-Technologies, Market Share and Industry Forecast to 2024

  • ID: 4708831
  • Report
  • Region: Global
  • 240 Pages
  • Occams Business Research and Consulting
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until Mar 31st 2019
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Global Induction Motor Market is Expected to Grow at a CAGR of Over 14.2% During the Period of 2017-2024

FEATURED COMPANIES

  • ABB Ltd. (Switzerland)
  • Ametek (US)
  • Brook Crompton (UK)
  • Danaher Corporation (US)
  • Maxon Motor (Switzerland)
  • Siemens AG. (Munich)
  • MORE

Global induction motor market is expected to grow at a CAGR of over 14.2% during the period of 2017-2024. Induction motors are also known as asynchronous motors. Induction motors are commonly used electrical motors in various industries such as automotive, manufacturing, etc. An induction motor works on the principle of electro-magnetic field induction.

Induction motors is expected to replace the DC motor application in industries in near future. Global market is driven by the need for power savings in manufacturing hubs, households, and energy infrastructure. These motors are reliable, have low maintenance cost and carry smaller loads. They are efficient in terms of energy saving. Induction motors are widely used in applications such as compressor load applications, fans etc.

On the basis of input, supply induction motor are of two type, single phase induction motor and three phase induction motor. Three phase induction motors are used in many applications and are widely accepted. According to efficiency class, the market is classified into IE1, IE2, IE3, and IE4.

On the basis of application, the market is segmented into residential application, industrial application, commercial building application, agriculture application, transportation application, and other application. The market, in terms of geography is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Geographically, North America is dominating the global induction motor market. High use of motor in the industrial manufacturing, automotive companies, and aerospace & defense located in the region is rising the demand of induction motor market. Also, increasing use of electric vehicles in the U.S. is ramping the growth. Asia Pacific is expected to be the fastest growing region.

Emerging economies in this region as such as Korea, India, China, South Africa, and Thailand are presenting huge opportunities for the global manufacturers. Rest of the world hold immense opportunity for the forecast period.

The growth global induction motor market is also influenced by the presence of major players such Nidec Motor Corporation (U.S.), ABB Ltd. (Switzerland), Siemens AG (Germany), WEG Electric Corp. (Brazil), and Emerson Electric Co. (U.S.). These players offer products in different industry verticals in the market. Collaborations, partnership, merger acquisition etc. are some crucial strategies adopted by the major players to gain competitive advantage.

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB Ltd. (Switzerland)
  • Ametek (US)
  • Brook Crompton (UK)
  • Danaher Corporation (US)
  • Maxon Motor (Switzerland)
  • Siemens AG. (Munich)
  • MORE

1. Introduction
1.1. Executive Summary
1.2. Estimation Methodology

2. Market Overview
2.1. Global Induction Motor Market: Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Total Market Analysis
2.4.1. Top 5 Findings
2.4.2. Top 5 Opportunity Markets
2.4.3. Top 5 Companies
2.4.4. Top 3 Competitive Strategies
2.5. Estimation Analysis
2.6. Strategic Analysis
2.6.1. Investment Vs. Adoption Model
2.6.2. 360-Degree Industry Analysis
2.6.3. Porters 5 Force Model
2.6.4. See-Saw Analysis
2.6.5. Consumer Analysis And Key Buying Criteria
2.7. Competitive Analysis
2.7.1. Key Strategies & Analysis
2.7.2. Market Share Analysis & Top Company Analysis
2.8. Strategic Recommendations & Key Conclusions
2.8.1. Investment Opportunities By Regions
2.8.2. Opportunities In Emerging Applications
2.8.3. Investment Opportunity In Fastest Growing Segment

3. Market Determinants
3.1. Market Drivers
3.1.1. Rising Demand For Electric Vehicle
3.1.2. Low Cost As Compare To Other Motors
3.1.3. Low Maintenance As Compare To Other Motors
3.1.4. Technological Advancement
3.2. Market Restraints
3.2.1. Highly Fragmented Market
3.2.2. High Installation Cost
3.3. Market Opportunities
3.3.1. Growing Industrial Base In Developing Economy
3.3.2. Adoption Of Energy-Efficient Motors
3.4.  Market Challenges
3.4.1.  Availability Of Raw Material

4. Global Induction Motor Market By Application
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation
4.5.1. Global Residential Market
4.5.1.1. Adoption Scenario & Market Determinants
4.5.1.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.1.3. Key Conclusions
4.5.2. Global Industrial Market
4.5.2.1. Adoption Scenario & Market Determinants
4.5.2.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.2.3. Key Conclusions
4.5.3. Global Commercial Market
4.5.3.1. Adoption Scenario & Market Determinants
4.5.3.2. Market Estimations And Forecasts 2015-2024 ($ Million)
4.5.3.3. Key Conclusions

5. Global Induction Motor Market By Type
5.1. Market Definition And Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation
5.5.1. Global Single Phase Induction Motor Market
5.5.1.1. Adoption Scenario & Market Determinants
5.5.1.2. Market Estimations And Forecasts 2015-2024 ($ Million)
5.5.1.3. Key Conclusions
5.5.2. Global Three Phase Induction Motor Market
5.5.2.1. Adoption Scenario & Market Determinants
5.5.2.2. Market Estimations And Forecasts 2015-2024 ($ Million)
5.5.2.3. Key Conclusions

6. Competitive Landscape
6.1. Key Strategies
6.1.1. List Of Mergers And Acquisitions
6.1.2. List Of Joint Ventures
6.1.3. List Of Product Launches
6.1.4. List Of Partnerships

7. Geographic Analysis
7.1. Decision Support Database & Estimation Methodology
7.2. Comparative Analysis Across Market Segments
7.3. Opportunity Matrix
7.4. Global Induction Motor Market By Region 2015-2024
7.4.1. North America
7.4.1.1. Industry Analysis 2015-2024 ($ Million)
7.4.1.2. Top Country Analysis
7.4.1.2.1. U.S.
7.4.1.2.1.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.1.2.1.2. Key Conclusions
7.4.1.2.2. Canada
7.4.1.2.2.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.1.2.2.2. Key Conclusions
7.4.2. Europe
7.4.2.1. Industry Analysis 2015-2024 ($ Million)
7.4.2.2. Top Country Analysis
7.4.2.2.1. UK
7.4.2.2.1.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.2.2.1.2. Key Conclusions
7.4.2.2.2. France
7.4.2.2.2.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.2.2.2.2. Key Conclusions
7.4.2.2.3. Germany
7.4.2.2.3.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.2.2.3.2. Key Conclusions
7.4.2.2.4. Spain
7.4.2.2.4.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.2.2.4.2. Key Conclusions
7.4.2.2.5. Rest Of Europe
7.4.2.2.5.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.2.2.5.2. Key Conclusions
7.4.3. Asia Pacific
7.4.3.1. Industry Analysis 2015-2024 ($ Million)
7.4.3.2. Top Country Analysis
7.4.3.2.1. China
7.4.3.2.1.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.3.2.1.2. Key Conclusions
7.4.3.2.2. India
7.4.3.2.2.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.3.2.2.2. Key Conclusions
7.4.3.2.3. Japan
7.4.3.2.3.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.3.2.3.2. Key Conclusions
7.4.3.2.4. Australia
7.4.3.2.4.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.3.2.4.2. Key Conclusions
7.4.3.2.5. Rest Of Asia Pacific
7.4.3.2.5.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.3.2.5.2. Key Conclusions
7.4.4. Row
7.4.4.1. Industry Analysis 2015-2024 ($ Million)
7.4.4.2. Top Country Analysis
7.4.4.2.1. Latin America
7.4.4.2.1.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.4.2.1.2. Key Conclusions
7.4.4.2.2. Middle East & Africa
7.4.4.2.2.1. Market Estimations And Forecasts 2015-2024 ($ Million)
7.4.4.2.2.2. Key Conclusions

8. Company Profiles
8.1. Nidec Motor Corporation (US)
8.1.1. Overview
8.1.2. Product Portfolio
8.1.3. Strategic Initiatives
8.1.4. Scot Analysis
8.1.5. Strategic Analysis
8.2. ABB Ltd. (Switzerland)
8.2.1. Overview
8.2.2. Product Portfolio
8.2.3. Strategic Initiatives
8.2.4. Scot Analysis
8.2.5. Strategic Analysis
8.3. Siemens AG. ( Munich)
8.3.1. Overview
8.3.2. Product Portfolio
8.3.3. Strategic Initiatives
8.3.4. Scot Analysis
8.3.5. Strategic Analysis
8.4. Emerson Electric Company (US)
8.4.1. Overview
8.4.2. Product Portfolio
8.4.3. Strategic Initiatives
8.4.4. Scot Analysis
8.4.5. Strategic Analysis
8.5. WEG Electric Corp. (Brazil)
8.5.1. Overview
8.5.2. Product Portfolio
8.5.3. Strategic Initiatives
8.5.4. Scot Analysis
8.5.5. Strategic Analysis
8.6. Regal Beloit Corporation. (US)
8.6.1. Overview
8.6.2. Product Portfolio
8.6.3. Strategic Initiatives
8.6.4. Scot Analysis
8.6.5. Strategic Analysis
8.7. Kirloskar Electric Co. Ltd. (India)
8.7.1. Overview
8.7.2. Product Portfolio
8.7.3. Strategic Initiatives
8.7.4. Scot Analysis
8.7.5. Strategic Analysis
8.8. Marathon Electric India Pvt.Ltd. (US)
8.8.1. Overview
8.8.2. Product Portfolio
8.8.3. Strategic Initiatives
8.8.4. Scot Analysis
8.8.5. Strategic Analysis
8.9. Schneider Electric SE.(France)
8.9.1. Overview
8.9.2. Product Portfolio
8.9.3. Strategic Initiatives
8.9.4. Scot Analysis
8.9.5. Strategic Analysis
8.10. Brook Crompton (UK)
8.10.1. Overview
8.10.2. Product Portfolio
8.10.3. Strategic Initiatives
8.10.4. Scot Analysis
8.10.5. Strategic Analysis
8.11. Johnson Electric (Hong Kong)
8.11.1. Overview
8.11.2. Product Portfolio
8.11.3. Strategic Initiatives
8.11.4. Scot Analysis
8.11.5. Strategic Analysis
8.12. Maxon Motor (Switzerland)
8.12.1. Overview
8.12.2. Product Portfolio
8.12.3. Strategic Initiatives
8.12.4. Scot Analysis
8.12.5. Strategic Analysis
8.13. Danaher Corporation (US)
8.13.1. Overview
8.13.2. Product Portfolio
8.13.3. Strategic Initiatives
8.13.4. Scot Analysis
8.13.5. Strategic Analysis
8.14. Faulhaber Drive Systems (Germany)
8.14.1. Overview
8.14.2. Product Portfolio
8.14.3. Strategic Initiatives
8.14.4. Scot Analysis
8.14.5. Strategic Analysis
8.15. Ametek (US)
8.15.1. Overview
8.15.2. Product Portfolio
8.15.3. Strategic Initiatives
8.15.4. Scot Analysis
8.15.5. Strategic Analysis

List Of Tables
1. Global Induction Motor Market By Application 2015-2024 ($ Million)
2. Global Residential Market By Geography 2015-2024 ($ Million)
3. Global Industrial Market By Geography 2015-2024 ($ Million)
4. Global Commercial Market By Geography 2015-2024 ($ Million)
5. Global Induction Motor Market By Type 2015-2024 ($ Million)
6. Global Single Phase Induction Motor Market By Geography 2015-2024 ($ Million)
7. Global Three Phase Induction Motor Market By Geography 2015-2024 ($ Million)
8. Global Induction Motor Market By Geography 2015-2024 ($ Million)
9. North America Induction Motor Market 2015-2024 ($ Million)
10. Europe Induction Motor Market 2015-2024 ($ Million)
11. Asia Pacific Induction Motor Market 2015-2024 ($ Million)
12. Rest Of The World Induction Motor Market 2015-2024 ($ Million)
13. North America Induction Motor Market By Application 2015-2024 ($ Million)
14. Europe Induction Motor Market By Application 2015-2024 ($ Million)
15. Asia Pacific Induction Motor Market By Application 2015-2024 ($ Million)
16. Rest Of The World Induction Motormarket By Application 2015-2024 ($ Million)
17. North America Induction Motor Market By Type 2015-2024 ($ Million)
18. Europe Induction Motor Market By Type 2015-2024 ($ Million)
19. Asia Pacific Induction Motor Market By Type 2015-2024 ($ Million)
20. Rest Of The World Induction Motor Market By Type 2015-2024 ($ Million)
21. United States Induction Motor Market By Application 2015-2024 ($ Million)
22. United States Induction Motor Market By Type 2015-2024 ($ Million)
23. Canada Induction Motor Market By Application 2015-2024 ($ Million)
24. Canada Induction Motor Market By Type 2015-2024 ($ Million)
25. Uk Induction Motor Market By Application 2015-2024 ($ Million)
26. Uk Induction Motor Market By Type 2015-2024 ($ Million)
27. France Induction Motor Market By Application 2015-2024 ($ Million)
28. France Induction Motor Market By Type 2015-2024 ($ Million)
29. Germany Induction Motor Market By Application 2015-2024 ($ Million)
30. Germany Induction Motor Market By Type 2015-2024 ($ Million)
31. Spain Induction Motor Market By Application 2015-2024 ($ Million)
32. Spain Induction Motor Market By Type 2015-2024 ($ Million)
33. Roe Induction Motor Market By Application 2015-2024 ($ Million)
34. Roe Induction Motor Market By Type 2015-2024 ($ Million)
35. China Induction Motor Market By Application 2015-2024 ($ Million)
36. China Induction Motor Market By Type 2015-2024 ($ Million)
37. India Induction Motor Market By Application 2015-2024 ($ Million)
38. India Induction Motor Market By Type 2015-2024 ($ Million)
39. Japan Induction Motor Market By Application 2015-2024 ($ Million)
40. Japan Induction Motor Market By Type 2015-2024 ($ Million)
41. Australia Induction Motor Market By Application 2015-2024 ($ Million)
42. Australia Induction Motor Market By Type 2015-2024 ($ Million)
43. Roapac Induction Motor Market By Application 2015-2024 ($ Million)
44. Roapac Induction Motor Market By Type 2015-2024 ($ Million)
45. Latin America Induction Motor Market By Application 2015-2024 ($ Million)
46. Latin America Induction Motor Market By Type 2015-2024 ($ Million)
47. Mena Induction Motor Market By Application 2015-2024 ($ Million)
48. Mena Induction Motor Market By Type 2015-2024 ($ Million)

List Of Figures
1. Global Residential Market 2015-2024 ($ Million)
2. Global Industrial Market 2015-2024 ($ Million)
3. Global Commercial Market 2015-2024 ($ Million)
4. Global Single Phase Induction Motor Market 2015-2024 ($ Million)
5. Global Three Phase Induction Motor Market 2015-2024 ($ Million)
6. United States (U.S.) Induction Motor Market 2015-2024 ($ Million)
7. Canada Induction Motor Market 2015-2024 ($ Million)
8. United Kingdom (UK) Induction Motor Market 2015-2024 ($ Million)
9. France Induction Motor Market 2015-2024 ($ Million)
10. Germany Induction Motor Market 2015-2024 ($ Million)
11. Spain Induction Motor Market 2015-2024 ($ Million)
12. Roe Induction Motor Market 2015-2024 ($ Million)
13. China Induction Motor Market 2015-2024 ($ Million)
14. India Induction Motor Market 2015-2024 ($ Million)
15. Japan Induction Motor Market 2015-2024 ($ Million)
16. Australia Induction Motor Market 2015-2024 ($ Million)
17. Roapac Induction Motor Market 2015-2024 ($ Million)
18. Latin America Induction Motor Market 2015-2024 ($ Million)
19. Mena Induction Motor Market 2015-2024 ($ Million)

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB Ltd. (Switzerland)
  • Ametek (US)
  • Brook Crompton (UK)
  • Danaher Corporation (US)
  • Maxon Motor (Switzerland)
  • Siemens AG. (Munich)
  • MORE

Induction motor market is expected to grow at a CAGR of 14.2% during 2017-2024

Induction motors also known as asynchronous motors are commonly used electrical motors. Induction motors are used in various sector such as residential, industrial, commercial building, agriculture, and transportation.

Rising government funding is also boosting the growth in the market, this is encouraging manufacturers to invest manufacturing of induction motor. Various factors associated with induction motor such as rugged built, reliable, lightweight and have low maintenance cost are creating the demand of induction motor.

Increasing awareness for environmental protection is key trend for adoption, as these motors have low emission rate as compare to others and have low maintenance cost. Due to this factor, induction motors are used in electric vehicle. Rising demand of electric car is majorly driving the market for induction motors.

Shortage of fossil fuel and its adverse effect on environment surge the market demand of global induction motor market.  According to EIA, the annual expected sale for electrical vehicle by 2025 is approximate 1.2 million cars. In 2015, about 186,000 light duty trucks were sold.

According to the publisher's analysis, the sale of electric vehicle by 2024 is expected to rise 23.8% globally. To boost the efficiency of the motor in an electric car, copper mouse cage rotor is used. The core for an electric vehicle is motor drive and control system.

Induction motor has simple structures, easy maintenances, low prices, broader constant power etc. which makes it suitable for the application in electric vehicle. Motor drive system used in electric vehicle should have high initial torque and wide power range, variable speed, high efficiency in different velocity range.

All these properties make induction motor suitable for EV. Motor selection is the key parameter for electric vehicle, induction motor in the vehicle provides efficiency, cost effectiveness and reliability. Auto industry uses induction motor to assist ICE. This shows the adoption of induction motor in automobile industry. Thus, rising demand for electric vehicle is driving the market for induction motor globally.

Health care: Creating new scope

Medical technology is changing motion design which is pushing motor power innovation more and more in all other industries. FDA needed on medical device makers and their suppliers continue to include motor manufacturers in regulatory scrutiny. FDA requirements on medical-device makers and their suppliers continue to include motor manufacturers in regulatory scrutiny, so controls on design processes continue to tighten usually as reverification of production lines and test equipment.

Overseas competition, medical-device taxes, and withering medi-care reimbursements are also forcing lower costs for devices and the motors for these applications. Economical cost of the motor and low maintenance cost are the factor driving the market. Health care industry is one of the most demanding industry because of all medical devices including medical robots, hand pieces, implantable etc. which are being adopted by major hospitals in the industry.

Medical industry continues to adopt technology from consumer electronics such as small motor driven designs. Induction motor technology is used in medical devices which are used for biometric identification, handheld surgical tools, and in-vitro diagnostics.

As machines and devices get smaller, the cost for the same is also rising. Surgeons are now using motor-assist tools for accuracy. Risk oriented eye and brain surgeries are done with motor-driven automation. Medical industry is encouraging induction motor innovation with smaller and cost-efficient design.

Three phase induction motors are mostly used in industrial applications, they are efficient and reliable. These motors have stability, robustness, durability, and low production cost, large power to weight ratio and controllability easiness. All these properties of induction motor boost its adoption in health care industry.

North America: Most lucrative region

North America is expected to dominate the global induction motor market. Higher usage of motor in the industrial manufacturing, automotive companies, and aerospace & defense located in this region is promoting growth in the market. In addition, increasing adoption of electric vehicles in the U.S. is also leveraging the growth.

Also, presence of big market players such as Danaher Corporation, Marathon Electric, Emerson Electric Company, NIDEC Motor Corporation etc. in the region are creating lucrative growth opportunity.  Different strategies are adopted by the companies in the induction motor market.

For example, in 2015, Beloit Corporation acquired the Power Transmission Solutions business of Emerson Electric Co. for approximately $1.4 billion. The purpose of this acquisition is to develop new industrial milestone in terms of business development. Also, in August 2016, Nidec Corporation announced acquisition of Emerson Electric Co. Company has done acquisitions of strategic businesses that will enhance its new growth platform.

Note: Product cover images may vary from those shown
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  • ABB Ltd. (Switzerland)
  • Ametek (US)
  • Brook Crompton (UK)
  • Danaher Corporation (US)
  • Emerson Electric Company (US)
  • Faulhaber Drive Systems (Germany)
  • Johnson Electric (Hong Kong)
  • Kirloskar Electric Co. Ltd. (India)
  • Marathon Electric India Pvt.Ltd. (US)
  • Maxon Motor (Switzerland)
  • Nidec Motor Corporation (US)
  • Regal Beloit Corporation. (US)
  • Schneider Electric SE.(France)
  • Siemens AG. (Munich)
  • WEG Electric Corp. (Brazil)
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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