Global Induction Motors Market | Trends, Growth, Share, Size

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The Global Induction Motors Market to Surge at
3.72 of CAGR by 2028
Triton Market Research presents the Global
Induction Motors Market report segmented by Type
(Three- phase, Single-phase), by Application
(Industrial, Commercial, Residential), by
Geographical Region (North America, Europe,
Asia-Pacific, Latin America, Middle East and
Africa), discussing Porters Five Force
Analysis, Key Impact Analysis, Drivers,
Opportunities, Restraints, Vendor Scorecard,
Global Market Size, Forecasts Analysis
(2019-2028).
Triton Market Researchs report depicts that the
Global Induction Motors Market is witnessing
growth at a rate of 3.72 during the estimated
period between 2019 and 2028. An induction motor
refers to an AC electric motor that produces an
electric current through electromagnetic
induction from the rotating field of the stator
winding. Over 30 of the total energy consumption
in the world is obtained from these
motors. Request a Free Sample https//www.tritonm
arketresearch.com/reports/induction-motors-market
request-free-sample The rising demand from the
electric vehicles, coupled with the technological
advancements in the induction motors, is one of
the key drivers of the global market growth. The
low cost of the induction motors and the minimum
maintenance cost are other factors contributing
to the growth of the induction motors market.
The escalating demand for energy-efficient motors
is likely to create new business opportunities
for the market. However, the highly fragmented
nature of this market and the high installation
cost are impeding its growth. Besides, the highly
fluctuating prices of raw materials required in
induction motors can pose a challenge to the
induction motors market growth.
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Considering the geographical landscape,
Asia-Pacific is likely to be the fastest-growing
market in the forecasted period. Also, it is
estimated to be the largest market contributing
to the highest revenue. This growth is mainly
contributed by the increasing adoption of
electric vehicles in Asian countries like India
and China. Government policies regarding the
promotion of electric vehicles and the
enhancement of the manufacturing production
sector are also favoring the regional market
growth. The growing demand for consumer
electronics like fans, refrigerators and
air-conditioners is also anticipated to increase
the potential applications of induction motors
in the market. The key players in the induction
motors market are CG Power and Industrial
Solutions, MMC Electric Company Pvt Ltd
(Dynaflux), Inmotion, Oriental Motor Co Ltd,
General Electric, Fuji Electric, Nidec Motor
Corporation, ABB and Brook Crompton Ltd. Most of
the global companies face tough competition from
the local players operating at the regional
level. Hence, they are focusing on new product
development, mergers acqusitions and vigrorous
research development activities to strengthen
their position in the global market. Contact
Us sales_at_tritonmarketresearch.com Phone 44
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