Induction Motor Market 2023-2028: Industry Outlook, Future… – Chatfield News-Record

According to the latest report of the IMARC Group, entitled “Induction Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028” The report also includes regional and competitive analysis, and contemporary developments in the market. The size of the world market for induction motors reached US$20 billion in 2022. Looking ahead, IMARC Group expects the market to reach US$32.8 billion by 2028showing a growth rate (CAGR) of 8.41% during 2023-2028.

Induction Motor Industry Overview:

An induction motor is an AC equipment widely used in various machines. It takes advantage of the magnetic field of the stator winding to generate an electric current in the rotors. Compared to traditional motors, it offers eco-friendly operation, easy operation, low maintenance requirements, robustness, durability, and efficient performance in various environmental conditions.

It can be easily combined with Variable Speed ​​Drives (VSDs) or Adjustable Frequency Drives (AFDs) for precise control over motor speed and torque. This allows for energy savings, improved process control and the ability to adapt to different load requirements. Exceptional durability and reduced maintenance costs have led to a marked increase in preference for induction motors in industries such as pump production, small fans, electric shavers, cranes, textiles, transportation, and oil extraction mills. .

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Global industry demand for induction motors:

The global market for induction motors is being driven by the increasing production and sale of electronic devices. In addition, the growing demand for electric vehicles (EVs), driven by an emphasis on sustainable development, is contributing to overall demand. Also, the widespread adoption of energy efficient products in industries to minimize operating expenses is increasing the induction motor market worldwide.

In addition to this, the increasing adoption of products in the induction pump industry due to their simple design, reliability, durability, low maintenance, and light weight is giving the market a boost. Other factors, such as rapid industrialization, advances in escalator and elevator technology, continuous technological improvements in induction motor manufacturing, and extensive research and development (R&D) activities by key players to introduce variants improved products, also have a positive impact on the market.

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Key market segmentation:

Key players included in the Global Induction Motor Market research report:

  • Ametek
  • Emerson electric
  • siemens
  • WEG
  • crompton creek
  • Danaher Corporation
  • Johnson Electric Holdings
  • Beautiful Regal

Breakdown by product type

  • single phase induction motors
  • three phase induction motors

Breakdown by end-use sector

  • Industrial
  • Commercial
  • Residential

Breakdown 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, others)

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About us:

IMARC Group is a leading market research company providing market research and management strategy around the world. We partner with clients across industries and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include important market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-tech 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.

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Raven Asher

Hey there, I'm Raven Asher, a writer and blogger currently studying at McMaster University. My passion lies in arts and culture, and I love exploring and sharing my thoughts on different aspects of this field through my writing. I've been fortunate enough to have my articles featured on several blogs and news websites, which has allowed me to connect with readers from all over the world. Apart from writing, I'm also an avid traveler, and I love experiencing different cultures and learning new things. Join me on my journey as I explore the world and share my insights on everything art and culture!

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