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Induction Motor Market, by Type

RA00111

Induction Motor Market, by Type (Single Phase, Three Phase), Application (Residential, Commercial, and Industrial),Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00111

Pages: 170

Apr 2020

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Induction Motor Industry Insights 2026:

Global Induction Motor Market forecast will surpass$31,627.5 million by 2026, rising from $12,676.0million in 2018, at a CAGR of 12.1%. On the basis of region, the Asia-Pacific region held the largest market value accounting for $3,802.8 million. North America region is expected to boost the global Induction Motor Market accounting for $9,259.7 million by 2026.

Induction motor are most commonly used as AC electric motor. The rotor produces electric current to create torque which is obtained by electromagnetic induction by rotating the magnetic field by stator winding. induction motor function at a high speed which is less than the rotating magnetic field speed. The rotating magnetic field helps the stator to create a movement in the rotor helping the stator to rotate the rotor. There is a difference in the movement time of the rotator and the moving current within the stator; the rotor will never extend its speed beyond the magnetic field speed. Basically, the induction motor is a motor where current is induced in the rotor from the rotating magnetic field of the stator.

Driving Factors: Robust structure of the motor is considered to drive the induction motor market

The rough physical structure of the motor is predicted to be a major driving factor for the growth of the induction motor market.Induction motor are robust in nature and can be operated in any climatic conditions. Moreover, the absence of slip rings and brushes in the motor induction eliminates the chances of sparks, which makes the operation safe even in the most explosive working conditions. In addition, induction motoris cost effective, highly reliable and the maintenance is very less, which is expected to propel the growth of the induction motor market in the projected period.

Market Restraint: The power factor is considered to be the major restraint for the induction motor market

The power factor of the induction motor drops at a higher rate during the light load condition. This is because the motor draws a large amount of magnetic current to overcome the air gap between the stator and the rotor at the time of starting the motor.Induction motor acquire very less amount of current from the main supply. With the high magnetic current, the copper loss in the motor increases which in turn leads to the decrease in the efficiency of the motor.

The three-phasesegment is anticipated to dominate the induction motor market by 2026 accounting for $14,938.6 million growing at a CAGR of 12.5% during the forecast period. The three-phase induction motor are self-starting and don’t require any capacitor or start winding or any centrifugal force for starting the motor. The three-phase induction motor widely used in the industrial and construction sector are offered at a very economical price. Due to these reasons the three-phase induction motor type is predicted to grow the market in the forecast period
 

The residential segment held the largest market value in 2018 accounting for $4,056.3 million and is anticipated to reach $11,784.1 million by 2026, growing at a CAGR of 11.8% during the forecast period.Industrial segment is expected to hold the largest market value during the forecasted timeframe, accounting for $10,826.4 million by 2026, growing at a CAGR of 13.1% during the forecast period. Theindustrial application mostly uses three phase induction motor for its economic reason and reliability. The motor is used in industrial application for very high inertia load, where it is necessary to generate maximum torque at a very low swift and accelerate to full speed with minimal current.

Asia-Pacific induction motor industryheld the largest market valuein the year 2018 accounting for $3,549.3 million and is further anticipated to grow at a CAGR of 12.7% during the forecast period. On the other hand, the North America market is anticipated to experience a swift growth over the forecast period, and is projected to reach $9,259.7 million and growing at a CAGR of 12.7%, the growth is majorly due to the growing adoption of residential application across the region.

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Induction motor market players includeBaldor Electric Company, Siemens AG, Schneider Electric SE, Emerson Electric Company, ABB Ltd., Regal Beloit Corporation, Kirloskar Electric Company, Marathon Electric and Regal Beloit Corporation among others.Acquisitions and product development are the key strategies that are being opted by the key industry participants to continue their market position in the regional and global markets.The induction motor key players are prominentlyfocusingon technologicaldevelopments, mergers and acquisitions,new product launches, and geographical expansion. These are some of the growth strategies adopted by these companies.In May 2017, Johnson Electrics announced about the launch of new production line in order to serve the industrial line in Argentina.

Porter’s Five Forces Analysis for Induction Motor Market:

  • 1.Bargaining Power of Suppliers: Thereare many key players in induction motor market, and thus the bargaining power of suppliers is high.
    The bargaining power of suppliers is High.

  • 2.Bargaining Power of Consumers:In this market, the number of consumers is high. 
    The bargaining power of consumers is High.

  • 3.Threat of New Entrants: The threat for new entrants is medium:
    There exists a lack of geographical presence of key players in developing countries
    There is Moderate initial investment to start an IGBT-based semiconductor company 
    The threat of new entrants is Medium.

  • 4.Threat of Substitutes:There are no substitutes for induction motor, and thus the threat of substitutes is low.

  • The threat of substitutes is Low.

  • 5.Competitive Rivalry in the Industry:any of the key players are following similar strategies for the improvement of technologies.This market contains manymarket participants. M
    The competitive rivalry in the industry is high.

 

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Single Phase
  • Three Phase

  Segmentation by Application

  • Residential
  • Commercial
  • Industrial

  Key Countries Covered

U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Latin America, Middle East and Africa

  Key Companies Profiled

  • Baldor Electric Company
  • Siemens AG
  • Schneider Electric SE
  • Emerson Electric Company
  • ABB Ltd.
  • Regal Beloit Corporation
  • Kirloskar Electric Company
  • Marathon Electric

FREQUENTLY ASKED QUESTIONS?
 

A. North America possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Product development are the key strategies opted by the operating companies in Induction Motors Market.

A. Siemens AG is the companies investing more on R&D activities for developing new products and technologies.

A. The global induction motor market size was over $12,676.0 million in 2018, and is further anticipated to reach $31,627.5 million by 2026.

A. Siemens AG, and ABB Ltdare some of the key players in the global induction motor market

A. North America possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. North America induction motor market is projected to grow at 12.7% CAGR during the forecast period.

A. Product development and joint ventures are the key strategies opted by the operating companies in this market.

A. ABB Ltd., and Regal Beloit Corporationareinvesting more in R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Type trends
2.3.Application trends

3.Market overview

3.1.Market segmentation & definitions
3.2.key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Application landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview

4.Induction Motor Market, by Type

4.1.Single Phase

4.1.1.Market size and forecast, by region, 2019-2026
4.1.2.Comparative market share analysis, 2018 &2026

4.2.Three Phase

4.2.1.Market size and forecast, by region, 2019-2026
4.2.2.Comparative market share analysis, 2018 &2026

5.Induction Motor Market, by Application

5.1.Residential

5.1.1.Market size and forecast, by region, 2019-2026
5.1.2.Comparative market share analysis, 2018 &2026

5.2.Commercial

5.2.1.Market size and forecast, by region, 2019-2026
5.2.2.Comparative market share analysis, 2018 &2026

5.3.Industrial

5.3.1.Market size and forecast, by region, 2019-2026
5.3.2.Comparative market share analysis, 2018 &2026

6.Induction Motor Market, by Region

6.1.North America
6.2.Market size and forecast, by Type, 2019-2026
6.3.Market size and forecast, by Application, 2019-2026
6.4.Market size and forecast, by country, 2019-2026
6.5.Comparative market share analysis, 2018 &2026

6.5.1.U.S.

6.5.1.1.Market size and forecast, by Type, 2019-2026
6.5.1.2.Market size and forecast, by Application, 2019-2026
6.5.1.3.Comparative market share analysis, 2018 &2026

6.5.2.Canada

6.5.2.1.Market size and forecast, by Type, 2019-2026
6.5.2.2.Market size and forecast, by Application, 2019-2026
6.5.2.3.Comparative market share analysis, 2018 &2026

6.5.3.Mexico

6.5.3.1.Market size and forecast, by Type, 2019-2026
6.5.3.2.Market size and forecast, by Application, 2019-2026
6.5.3.3.Comparative market share analysis, 2018 &2026

6.6.Europe

6.6.1.Market size and forecast, by Type, 2019-2026
6.6.2.Market size and forecast, by Application, 2019-2026
6.6.3.Market size and forecast, by country, 2019-2026
6.6.4.Comparative market share analysis, 2018 &2026
6.6.5.UK

6.6.5.1.Market size and forecast, by Type, 2019-2026
6.6.5.2.Market size and forecast, by Application, 2019-2026
6.6.5.3.Comparative market share analysis, 2018 &2026

6.6.6.Germany

6.6.6.1.Market size and forecast, by Type, 2019-2026
6.6.6.2.Market size and forecast, by Application, 2019-2026
6.6.6.3.Comparative market share analysis, 2018 &2026

6.6.7.France

6.6.7.1.Market size and forecast, by Type, 2019-2026
6.6.7.2.Market size and forecast, by Application, 2019-2026
6.6.7.3.Comparative market share analysis, 2018 &2026

6.6.8.Spain

6.6.8.1.Market size and forecast, by Type, 2019-2026
6.6.8.2.Market size and forecast, by Application, 2019-2026
6.6.8.3.Comparative market share analysis, 2018 &2026

6.6.9.Italy

6.6.9.1.Market size and forecast, by Type, 2019-2026
6.6.9.2.Market size and forecast, by Application, 2019-2026
6.6.9.3.Comparative market share analysis, 2018 &2026

6.6.10.Rest of Europe

6.6.10.1.Market size and forecast, by Type, 2019-2026
6.6.10.2.Market size and forecast, by Application, 2019-2026
6.6.10.3.Comparative market share analysis, 2018 &2026

6.7.Asia-Pacific

6.7.1.Market size and forecast, by Type, 2019-2026
6.7.2.Market size and forecast, by Application, 2019-2026
6.7.3.Market size and forecast, by country, 2019-2026
6.7.4.Comparative market share analysis, 2018 &2026
6.7.5.China

6.7.5.1.Market size and forecast, by Type, 2019-2026
6.7.5.2.Market size and forecast, by Application, 2019-2026
6.7.5.3.Comparative market share analysis, 2018 &2026

6.7.6.Japan

6.7.6.1.Market size and forecast, by Type, 2019-2026
6.7.6.2.Market size and forecast, by Application, 2019-2026
6.7.6.3.Comparative market share analysis, 2018 &2026

6.7.7.India

6.7.7.1.Market size and forecast, by Type, 2019-2026
6.7.7.2.Market size and forecast, by Application, 2019-2026
6.7.7.3.Comparative market share analysis, 2018 &2026

6.7.8.Australia

6.7.8.1.Market size and forecast, by Type, 2019-2026
6.7.8.2.Market size and forecast, by Application, 2019-2026
6.7.8.3.Comparative market share analysis, 2018 &2026

6.7.9.South Korea

6.7.9.1.Market size and forecast, by Type, 2019-2026
6.7.9.2.Market size and forecast, by Application, 2019-2026
6.7.9.3.Comparative market share analysis, 2018 &2026

6.7.10.Rest of Asia-Pacific

6.7.10.1.Market size and forecast, by Type, 2019-2026
6.7.10.2.Market size and forecast, by Application, 2019-2026
6.7.10.3.Comparative market share analysis, 2018 &2026

6.8.LAMEA

6.8.1.Market size and forecast, by Type, 2019-2026
6.8.2.Market size and forecast, by Application, 2019-2026
6.8.3.Market size and forecast, by country, 2019-2026
6.8.4.Comparative market share analysis, 2018 &2026
6.8.5.Latin America

6.8.5.1.Market size and forecast, by Type, 2019-2026
6.8.5.2.Market size and forecast, by Application, 2019-2026
6.8.5.3.Comparative market share analysis, 2018 &2026

6.8.6.Middle East

6.8.6.1.Market size and forecast, by Type, 2019-2026
6.8.6.2.Market size and forecast, by Application, 2019-2026
6.8.6.3.Comparative market share analysis, 2018 &2026

6.8.7.Africa

6.8.7.1.Market size and forecast, by Type, 2019-2026
6.8.7.2.Market size and forecast, by Application, 2019-2026
6.8.7.3.Comparative market share analysis, 2018 &2026

7.Company profiles

7.1.Baldor Electric Company

7.1.1.Business overview
7.1.2.Financial performance
7.1.3.Type portfolio
7.1.4.Recent strategic moves & developments
7.1.5.SWOT analysis

7.2.Siemens AG

7.2.1.Business overview
7.2.2.Financial performance
7.2.3.Type portfolio
7.2.4.Recent strategic moves & developments
7.2.5.SWOT analysis

7.3.Schneider Electric SE

7.3.1.Business overview
7.3.2.Financial performance
7.3.3.Type portfolio
7.3.4.Recent strategic moves & developments
7.3.5.SWOT analysis

7.4.Emerson Electric Company

7.4.1.Business overview
7.4.2.Financial performance
7.4.3.Type portfolio
7.4.4.Recent strategic moves & developments
7.4.5.SWOT analysis

7.5.ABB Ltd.

7.5.1.Business overview
7.5.2.Financial performance
7.5.3.Type portfolio
7.5.4.Recent strategic moves & developments
7.5.5.SWOT analysis

7.6. Regal Beloit Corporation

7.6.1.Business overview
7.6.2.Financial performance
7.6.3.Type portfolio
7.6.4.Recent strategic moves & developments
7.6.5.SWOT analysis

7.7.Kirloskar Electric Company

7.7.1.Business overview
7.7.2.Financial performance
7.7.3.Type portfolio
7.7.4.Recent strategic moves & developments
7.7.5.SWOT analysis

7.8.Marathon Electric

7.8.1.Business overview
7.8.2.Financial performance
7.8.3.Type portfolio
7.8.4.Recent strategic moves & developments
7.8.5.SWOT analysis

7.9.Emerson Electric Company

7.9.1.Business overview
7.9.2.Financial performance
7.9.3.Type portfolio
7.9.4.Recent strategic moves & developments
7.9.5.SWOT analysis

The induction motor is the motor which performs its functions on the principle of electromagnetic induction. The electromagnetic induction is the phenomenon in which the electromotive force induces across the electrical conductor when it is placed in a rotating magnetic field.

The stator and rotor are the two essential parts of the motor. The stator is the stationary part which carries the overlapping windings. On the other hand, the rotor carries the main or field winding. The windings of the stator are equally displaced from each other by an angle of 120°.

Induction motors are basically known as AC electric motors. The rotor produces electric current to create torque which is obtained by electromagnetic induction by rotating the magnetic field by stator winding. Induction motors function at a high speed which is less than the rotating magnetic field speed. The rotating magnetic field helps the stator to create a movement in the rotor. It helps the stator to rotate the rotor. 

There is a difference in the movement time of the rotator and the moving current within the stator. The rotor never extends its speed beyond the magnetic field speed. Therefore, the induction motor can be made without having the electric current to the rotor. Basically, the induction motor is the motor where current is induced in the rotor from the rotating magnetic field of the stator.

An Outlook on the market growth

The coarse physical structure of the motor is anticipated to be a major influencing factor for the growth of the induction motor market. Robust in nature, the induction motors are suitable to be operated inany climatic conditions. Moreover, the absence of slip rings and brushes in the motor induction eliminates the chances of sparks, which makes the operation safe even in the most explosive working conditions. In addition, induction motors are cost effective, highly reliable and needs a comparatively low maintenance. These are another factors propelling the growth of the global induction motor market in the projected period.

Recent Advances in the market

According to a recent report , the major players of the inductionmotor market includeSiemens AG, Baldor Electric Company, Emerson Electric Company,Kirloskar Electric Company, Schneider Electric SE, Regal Beloit Corporation, Marathon Electric, ABB Ltd.,and Regal Beloit Corporation among others.

These market players are adopting several strategies including new technology, new product launches, current technology upgradation, and merger and acquisition to gain the highest induction motor market size.

Here’s a few vignettes:

  • In May 2017, Johnson Electrics announced the launch of new production line in order to serve the industrial line in Argentina.

  • Oriental Motor USA introduced their latest high efficiency three-phase AC induction motors equipped with a terminal box and a high strength right-angle hypoid gearhead. Launched in May, 2019, these new three-phase motors have the capacity of two new wattages of 30W and 40W and expands the KIIS Series Standard AC motors product line-up.

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