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Induction Motor Market Size

Report ID: GMI12800
Published Date: Dec 2024
Report Format: PDF

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Induction Motor Market Size

The global induction motor market size was valued at USD 20.3 billion in 2024 and is estimated to grow at a CAGR of 6.4% between 2025 and 2034. Automated production lines rely on motors for precise machinery control. Induction motors, known for their durability, efficiency, and versatility, power conveyors, robotic arms, and other automated systems in manufacturing.

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As industries automate to boost production and cut labor costs, the demand for induction motors surges. Robotics and automated guided vehicles (AGVs) find applications in manufacturing, warehousing, logistics, and healthcare, relying on induction motors for their dependable torque and speed. With a growing emphasis on energy efficiency, industries are increasingly turning to energy-efficient motors.

Induction Motor Market Report Attributes
Report Attribute	Details
Base Year:	2024
Induction Motor Market Size in 2024:	USD 20.3 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	6.4%
2034 Value Projection:	USD 37.5 Billion
Historical Data for:	2021 - 2024
No. of Pages:	230
Tables, Charts & Figures:	397
Segments covered:	By Product Type, Application, Distribution Channel, Region
Growth Drivers:	Increasing industrial automation Rising demand for energy-efficient solutions Expansion of the electric vehicle (EV) market
Pitfalls & Challenges:	High initial cost for energy-efficient motors Maintenance and Operational Challenges

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Induction motors, particularly those with variable frequency drives (VFDs), stand out for their energy efficiency, making them a preferred choice in automation-driven sectors. The aerospace and defense sectors are embracing automation for enhanced precision and efficiency. Induction motors play a pivotal role in these sectors, powering automated systems for assembly lines, testing, and producing components like aircraft parts, missiles, and drones. This push for automation in precision-centric industries amplifies the demand for induction motors.

Innovations, including high-efficiency windings, superior insulation materials, and cutting-edge rotor designs, have curtailed energy losses, elevating the overall performance of induction motors. Premium efficiency induction motors, such as IE3 and IE4, boast advanced designs that not only minimize core losses and reduce heat generation but also enhance overall performance while consuming less energy. The HVAC sector, a major consumer of induction motors, has reaped the benefits of these efficiency enhancements. As the demand for energy-efficient heating and air conditioning systems surges, so does the adoption of induction motors with state-of-the-art energy-saving technologies.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of induction motor reached USD 20.3 billion in 2024 and is set to grow at a CAGR of 6.4% from 2025 to 2034, driven by increasing industrial automation and demand for energy-efficient solutions.

The direct distribution channel accounted for 65.8% of the market share in 2024 and is expected to expand at a CAGR of 6.5% through 2034, supported by rising demand for high-efficiency, customized solutions and the adoption of online sales platforms.

The U.S. market held 80% of the revenue share in 2024 and is anticipated to witness 6.4% CAGR through 2034, led by increasing automation and energy efficiency demands in industrial applications.

Key players in the industry include ABB, Allied Motion Technologies, AMETEK, Emerson, Hitachi, Johnson Electric, Mitsubishi, Nidec, Oriental Motor, Regal Rexnord, Rockwell Automation, Schneider Electric, Siemens, Toshiba, and WEG Electric.