GCC Induction Motor Market to Reach US$ 686.6 Million by 2027

The latest research study by IMARC Group "GCC Induction Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" The GCC induction motor market size reached US$ 530.5 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 686.6 Million by 2027, exhibiting a growth rate (CAGR) of 4.41% during 2022-2027.

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GCC Induction Motor Market Outlook:

An induction motor refers to an electrical machine that works on the principle of electromagnetic induction. It is generally equipped with a rotor and stator that facilitates the rotor to start and create movement. Besides this, it is also comprised of shafts, bearings and casing that help in generating torque in numerous industrial equipment. It is mainly designed to produce motion by changing electrical energy into mechanical energy, which is extensively utilized in the manufacturing of refrigerators, pumps, furnaces, wind tunnels, conveyors, washing machines and winders. Some of the commonly used induction motors include split phase, shaded pole, slip ring and squirrel cage.

GCC Induction Motor Market Demand:

The market in the GCC region is primarily driven by the growing product demand from the automotive industry. Since induction motors offer high efficiency and enhanced speed regulation, there has been a significant increase in product uptake in the production of numerous types of vehicles across the region.

Along with this, the rising preference for electric vehicles (EVs) on account of the increasing environmental concerns is providing a boost to the market. With the growing adoption of heating, ventilation and air conditioning (HVAC) systems across industrial and residential sectors, the demand for induction motors has rapidly increased. Other factors, including rapid urbanization and industrialization, the rising infrastructural development projects and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across the GCC region.

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Key Market Segmentation:

Breakup by Product Type:

• Single Phase Induction Motor
• Three Phase Induction Motor

Breakup by End Use Sector:

• Industrial
• Commercial
• Residential

Breakup by Country:

• Saudi Arabia
• UAE
• Qatar
• Oman
• Kuwait
• Bahrain

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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