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Induction Motor Market Trends

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

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Induction Motor Market Trends

The rise of automation and smart manufacturing has bolstered the use of induction motors in various industrial applications, including pumps, conveyors, and robotic systems. Their cost-effectiveness, robustness, and ability to operate under diverse environmental conditions make them ideal for such uses. Industries are increasingly prioritizing energy-efficient solutions to reduce operational costs and environmental impact.

Induction motors, known for their durability and low maintenance, are being designed with higher efficiency ratings to meet these demands. Induction motors are integral to renewable energy systems, such as wind turbines and solar power plants. As the global focus shifts towards renewable energy sources, the demand for induction motors in these applications is expected to rise.

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.