Title: Induction Motor Market: Future Forecast Indicates Impressive Growth Rate by 2026
1Induction Motor Market Market Forecast (2021 -
2026)Market size, Industry outlook, Market
Forecast, Demand Analysis, Market Share, Market
Report 2021-2026
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- Induction Motor Market Size is forecast to reach
54.2 billion by 2026, at a CAGR of 6.5 during
2021-2026. - An induction motor is an AC electric motor in
which torque is produced by the reaction between
a varying magnetic field generated in the stator
and the current induced in the coils of the
rotor. - North America has significant share in global
induction motor market due to a developed usage
of an induction motor in the significant
industrial manufacturing, aerospace defense,
and automotive companies.
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- Key Takeaways
- The rising demand for efficient energy usage over
concerns of environmental impact of energy
generation from conventional sources such as coal
and natural gas, is expected to help grow the
Induction Motor market in APAC. - The inner rotor segment is growing at a
significant CAGR rate of 7.1 in the forecast
period. In inner rotor type motors, rotors are
positioned at the centre and surrounded by stator
winding. - Automotive sector is expected to witness a
highest CAGR of 8.9 the forecast period.
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By Vertical - Segment Analysis Automotive sector
is expected to witness a highest CAGR of 8.9 in
the forecast period, owing to various factors
such as increase in sales of electric vehicles
due to rising concerns over greenhouse gases
emissions, and favorable government policies in
countries such as India, China and so on. In
addition, the shift towards industrial
automation, coupled with the rising consumer
confidence promising investment plans triggers
demand for the induction motor in industrial
application.
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- Induction Motor Market Market- Competitive
Landscape - ABB Ltd. AMETEK Inc.
- Johnson Electric Holdings Limited
- Siemens AG
- Rockwell Automation
- Toshiba Corp.
- Hitachi Ltd.
- Nidec Corporation
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Contact (1) 970-236-3677
Inquiry Before Buying
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