An induction motor
which is also known as asynchronous motor is basically an AC electric motor.
Induction motor does not require any mechanical commutation and self-excitation
for energy transformation from stator to rotor part of the machine. This
motor's rotor can be divided into two types wound type and squirrel-cage type.
In addition induction motors are widely used in various applications such as
pump and compressor load application, fan, and others. Further addition,
induction motor used for reliability, smaller loads carry, reduces after
service cost and others. Moreover, Squirrel cage induction motors are used in
both variable-frequency drive (VFD) and fixed-speed applications.
Induction motor market is expected to grow during the forecast period. The
rising need for energy power savings in house hold, manufacturing hub and
energy infrastructure sector is raising the demand of induction motor. In
addition, demand for green house reduction in worldwide is revving up the usage
of induction motor in every sector, which is in turn contributing to the
growing demand for induction motor. Another addition, increasing the government
fund is also attracting the manufacturers to invest in induction motor
manufacturing. These are the factors is boosting the induction motor market
during the forecast period. However In the induction motor manufacturers cost
or installation cost is quiet high, therefore, many manufacturers are not able
to get resource to start manufacturing. This factor is acting as a restraint in
the market. The ongoing technological advancement in the induction motor
industry is acting as an opportunity for the market. In addition, a new
technology in induction motor which is cooper rooter induction motor which is a
strong alternative to the permanent magnet motor for electric vehicle.
The market is segmented in five categories: by product, by type, by application, by
end use and by region. In terms of product, the market can be divided into
synchronous Motors, asynchronous Motors, direct current (DC) motor and others.
In terms of type, the market can be divided into IE1 type of standard, IE2 type
of standard, IE3 type of standard, IE4 type of standard. In terms of
application the market can be sub divided by HVAC, pumps, fan, compressed air,
refrigeration, material handling, Material processing and others. In terms of
end use, the market can be segregated into industrial, commercial building,
residential, transportation, agricultural sector and others.
Geographically, North America and other developed nations such as the
U.K., Germany, France and Italy among others constitute the largest market for
this sector both in terms of production, consumption and worldwide exports.
Developing nations such as India Brazil, Korea Thailand, China, and South
Africa among others are monitoring attracting massive market opportunities for
the global manufacturers. Thus the entire global market can be majorly
classified into regions such as North America, Europe, Asia Pacific and the
Rest of the world.
Some of the key players participating in the induction motor market are
Baldor Electric Company, Emerson Electric Company, General Electric, ABB Ltd.,
Bosh Rexroth AG, Siemens AG, Schneider Electric SE, Regal Beloit Corporation,
Kirloskar Electric Company Ltd., and Marathon Electric among others.
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