Induction Motor Market 2022-2027: Industry Growth Rate (CAGR 8.48%), Top Manufacturers and Forecast

IMARC Group's latest research report, titled "Induction Motor Market Analysis: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global induction motor market reached a value of US$ 18.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2027, exhibiting at a CAGR of 8.48% during 2022-2027.

Get Free Sample Copy of Report at - https://www.imarcgroup.com/induction-motor-market/requestsample

An induction motor refers to an alternating current (AC) electric motor, wherein electric current in the rotor is obtained by electromagnetic induction from the magnetic field generated in the stator. It is widely utilized in various industrial applications due to its robustness, affordability, durability, and high starting torque. Due to its ability to work under extreme environmental conditions and low maintenance costs, it is increasingly replacing direct current (DC) motors for numerous applications.

Induction Motor Market Growth:

The global market is primarily driven by the widespread adoption of induction motors across the commercial, industrial, and residential sectors. Furthermore, due to an enhanced focus on sustainable development, there has been a considerable rise in the adoption of these motors by end users. Moreover, numerous stringent regulations imposed by the governments of several countries regarding carbon emissions have also positively influenced the market growth as induction motors consume lesser energy as compared to their conventional counterparts. Additionally, the increasing sales of electric vehicles and extensive research and development (R&D) activities are further providing an impetus to market growth across the globe.

Key Players Included in Global Induction Motor Market Research Report:

• ABB
• Ametek
• Emerson Electric
• Siemens
• WEG
• Brook Crompton
• Danaher Corporation
• Johnson Electric Holdings
• Regal Beloit

Do you know more information, Contact to our analyst at- https://www.imarcgroup.com/induction-motor-market

Key Market Segmentation:

Breakup by Product Type:
• Single Phase Induction Motors
• Three Phase Induction Motors

Breakup by End-Use Sector:

• Industrial
• Commercial
• Residential

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
• Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

TOC for the Induction Motor Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Induction Motor Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

Contact us:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.