According to a new market research report "Induction Motor Market by Type (Single Phase, Three Phase), Application (Residential, Industrial, Commercial), Geography (North America, Europe, Asia-Pacific, Row) - Analysis and Forecasts to 2019", the overall induction motor market shows double-digit growth and is expected to reach $15,810.3 Million by 2019, at a CAGR of 12.4% from 2014 to 2019.
Browse 40 market data tables and 39 figures spread through 67 pages and in-depth TOC on “Induction Motor Market - Analysis and Forecasts to 2019"
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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 DC motors which were earlier used for industrial applications have now been replaced by induction motors.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.
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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.
This report provides a detailed analysis of the overall induction motor market and segments the market on the basis of type, application, and geography. By type, the induction motor is divided into single phase induction motor & three phase induction motor. While the application includes industrial, commercial and residential, the geographic segmentation of the market covers North America, Europe, Asia-Pacific, and RoW (Rest of the world).
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The objective of the research study is to analyze the market trends for each of the industries, growth rates of the various applications such as industrial, commercial, and residential, and the demand comparison for the types of induction motor market such as single phase and three phase induction motor during forecast period. The three phase induction motor is further segmented into squirrel cage induction motor and slip ring induction motor in this report.
Apart from the market segmentation, the report also covers the Porter’s five forces analysis, the market’s value chain with a detailed process flow diagram, and the market dynamics such as drivers, restraints, and opportunities in the overall induction motor market.
The major players offering various products in the induction motor 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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