Induction Motors Market 2018 Global Leaders: Emerson Electric Company, Regal Beloit Corporation, ABB Ltd., Schneider Electric SE, Marathon Electric, Kirloskar Electric Company, Siemens AG

Induction Motors Global Market – Overview
The induction motor market is expected to exhibit high growth during the forecast period. The driving factor for the growth of induction motor market is its simple and rugged physical structure. Induction motors are robust and can operate in any environmental condition. Due to the absence of brushes and slip rings, they are safe to operate in polluted and explosive working conditions. And, unlike synchronous motors, induction motors do not require starting mechanisms as they have a self-starting torque. This leads to their reliability, cost effective operation, and easy maintenance. Hence, induction motors are preferred over synchronous motors. However, major restraint for growth of the induction motor market is the difficulty in the speed control of induction motors. For fine speed control applications, DC motors are preferred over induction motors. Due to advanced power electronics, variable frequency drives using induction motors are used in industries for speed control at present. As per the study conducted by Market Research Future, the global market for Induction Motors is likely to grow at the CAGR of around 12%.

The global induction motor is in major demand due to elevated need for power savings in households, manufacturing hubs, and energy infrastructure. Induction motors are also known as asynchronous motors. These motors are used because they are reliable, carry smaller loads, and reduce aftersales service and cost. Importantly, they can help save a substantial amount of energy. Induction motors are used widely in applications such as compressor load applications, fans, and others. Another trend driving the global induction motor market is the rising focus on reducing greenhouse gas emissions. This is revving up the use of induction motors in every sector, driving the demand for induction motors substantially. The global induction motor market will also benefit from the rising government funding, which is encouraging manufacturers to invest in induction motor manufacturing.

Prominent Players
Emerson Electric Company,Regal Beloit Corporation, ABB Ltd.,Schneider Electric SE,Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global induction motors market.

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Industry News
In November, 2017 – ABB and Hewlett Packard Enterprise (HPE) announced a strategic global partnership that combines ABB’s industry-leading digital offerings, ABB Ability, with HPE’s innovative hybrid information technology (IT) solutions. The partnership will provide customers with solutions that generate actionable insights from vast amounts of industrial data to increase the efficiency and flexibility of their operations and create competitive advantage.

In September, 2017 – ABB Strengthens Electrification Position with GE Industrial Solutions. GE Industrial Solutions will be integrated into ABB’s Electrification Products (EP) division, which will have an initial dampening effect on EP’s profit margins.

In September, 2017 – Emerson Launches Industry-first Controller Designed for Automation Versatility and IIoT-enabled Operations. The next-gen controller provides scalable automation control to all process industries, particularly parts of the life sciences, oil and gas, petrochemical, and discrete manufacturing industries that have relied on complex, non-integrated programmable logic controllers (PLCs) with limited operational capabilities

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Induction Motors Global Market - Competitive Analysis
The global market for induction motors is one of the most technological advance market. The global induction motors landscape has many vendors and competition is very intense. Vendors compete on the basis of custom services, solutions and price. Established vendors are expanding operations by setting up new units in emerging markets and extending their sales networks. Mergers and acquisitions between large vendors are also part of the landscape.

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