The global
induction motor market is expected to register a CAGR of 12.4% from 2014 to
2019. The Asia-Pacific region is expected to dominate the market, growing at a CAGR
of 12.9% during the forecast period.
Induction motors are simple and
rugged in construction. They are used in most of the industries. The advantages
of induction motors include their robustness and ability to operate in any
environmental condition. DC motors which were earlier used for industrial
applications have now been replaced by induction motors.
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Induction motors, based on their
construction, are of two types: single phase induction motors and three phase
induction motors. Three phase induction motors are widely used in motor and
drive applications. The three phase induction motors are estimated to grow at a
double-digit CAGR from 2014 to 2019. They are used in lathes, drilling
machines, agricultural and industrial pumps, lifts, cranes, and so on. The
three phase induction motors are further divided into squirrel cage induction motors
and slip ring induction motors in this report.
Factors
driving the induction motor market include economical cost and low maintenance
of the induction motors. Induction motors are economical and maintenance free
due to the absence of brushes, commutators, and slip rings.
Induction
motors are the most common electrical motors used in most applications. Most of
the machines in industries use induction motors. They are widely preferred by
various industries due to their robustness and ability to operate in any
environmental condition.
An induction
motor works on the principle of induction where an electro-magnetic field (EMF)
is induced in rotor conductors when the rotating magnetic field of stator cuts
the stationary rotor conductors. DC motors which were earlier used for
industrial applications have now been replaced by induction motors. Based on
input supply, the two type of induction motors are single phase induction
motors and three phase induction motors. The three phase induction motors are
more widely accepted and are used in numerous applications.
This report
analyzes and segments the global induction motor market by type of induction
motors, their application, and geography covered. The type segmentation
includes single phase and three phase induction motors. The three phase market,
with a major share of nearly 70% in the global market, is estimated to grow at
a double-digit CAGR during the forecast period from 2014 to 2019. On the basis
of application, the market is segmented into residential, industrial, and
commercial. The market, in terms of geography, has been classified into regions
such as North America, Europe, Asia-Pacific, and Rest of the World (RoW).
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The major players offering
various products in the market include Nidec Motor Corporation (U.S.), ABB Ltd.
(Switzerland), Siemens AG (Germany), WEG Electric Corp. (Brazil), and Emerson
Electric Co. (U.S.). The key players in the market focus on expanding their
market base in the concerned market by adopting strategies such as new product
development, alliances, and acquisitions.
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