The new report by Expert Market Research titled, ‘Global Induction AC Electric Motor Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global induction AC electric motor market, assessing the market based on its segments like types, efficiency ratings, speeds, end uses, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/induction-ac-electric-motor-market/requestsample
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 19.8 billion
• Forecast CAGR (2023-2028): 13.70%
• Forecast Market Size (2027): USD 41.7 billion
The rising demand for induction AC electric motors from the household sector is projected to catalyse the market growth. This can be attributed to the growing adoption of technologically advanced household appliances and equipment, rising disposable incomes, improved standards of living, increased penetration of HVAC systems, and rising global population. In addition, the thriving automotive industry owing to the growing demand for passenger and commercial motor vehicles is anticipated to propel the demand for induction AC electric motors in the forecast period. Furthermore, the market is estimated to be aided by the rapid industrialisation and significant economic growth attained by the emerging countries. Geographically, the Asia Pacific accounts for a significant share in the market and is anticipated to grow considerably in the forecast period owing to the expansion of the manufacturing sector in the region.
Industry Definition and Major Segments
Induction AC electric motor refers to an electrically driven machine which is used to power other industrial equipment by converting alternating current into mechanical energy. Furthermore, induction AC motors can be classified into single phase induction motor and three phase induction motor.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/induction-ac-electric-motor-market
The induction AC electric motor industry, on the basis of type, can be segmented into:
• < 1 kV
• 1 kV – 6.6 kV
• 6.6 kV
Based on efficiency rating, the market is segmented into:
By speed, the market can be divided into:
• Ultra-High-Speed Motors
• High-Speed Motors
• Medium Speed Motors
• Low Speed Motors
On the basis of end use, the market can be segregated into:
• Motor Vehicle
The regional markets for induction AC electric motors include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The technological advancements in the HVAC and automotive industry are estimated to propel the demand for induction AC electric motors, thereby bolstering the market growth. Meanwhile, the growing research and development (R&D) activities by the leading companies towards the development of advanced motor solutions are likely to propel the industry growth in the forecast period. The increased investments and adoption of various strategies by the key players operating in the market, including mergers and acquisitions, collaborations, and geographical expansion, are expected to aid the growth of the market in the forecast period.
Key Market Players
The major players in the market are ABB Ltd., Rockwell Automation, Inc., Siemens AG, ARC Systems, Inc., and Sinotech, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Read More Reports:
Netherlands Home Healthcare Market: https://buybacklinks.tech/business/netherlands-home-healthcare-market-share/
Expert Market Research (EMR) is a leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium-scale enterprises.
EMR customises syndicated reports according to client’s requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate, and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.
Company Name: Claight Corporation
Contact Person: Frara Prih, Corporate Sales Specialist – U.S.A.
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA