EUROPE INDUCTION MOTORS MARKET FORECAST 2023-2032
SCOPE OF THE REPORT
Europe Induction Motors Market by Type (Single-phase Induction Motor, Three-phase Induction Motor) Market by Application (Commercial, Industrial, Residential) by Geography
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MARKET OVERVIEW
The Europe induction motors market is predicted to develop with a CAGR of xx% over the forecasted years of 2023-2032, capturing a revenue share of $xx million by 2032.
The market growth of the region is primarily ascribed to drivers such as the rise in manufacturing activities, the increasing spending by governments as well as industries, and the European Union (EU) directives associated with energy conservation.
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The Europe induction motors market growth study constitutes the analysis of the United Kingdom, Germany, France, Italy, Spain, and Rest of Europe. The rapidly-developing manufacturing industry in the United Kingdom is expected to create lucrative growth opportunities for the induction motors market in the country. As per the Office for National Statistics (ONS), the United Kingdom’s manufacturing sector contributed to 25% of the gross domestic product (GDP), with the country ranked as the 8th largest manufacturing nation globally.
On the other hand, induction motors have transformed industries in France, transitioning from a manual to a highly mechanized and automated sector. Moreover, induction motors also play an important role in converting electrical energy in order to operate several mechanical machinery. According to the United Nations Conference on Trade and Development (UNCTAD), France was ranked 7th in terms of overall manufacturing output, thereby further propelling the demand for induction motors over the upcoming years. Hence, these factors are set to be influential in augmenting the market growth in Europe during the forecast period.
The Europe induction motors market is segmented into type and application. The type segment includes single-phase induction motor and three-phase induction motor. The significant growth of the three-phase induction motor segment is mainly fuelled by the rising industrial as well as commercial sectors. Also, some of the top applications of three-phase induction motors include large-capacity exhaust fans, heating, ventilating and air conditioning (HVAC) equipment, lifts, computer hard drives, driving lathe machines, etc.
As per the Institute of Electrical and Electronics Engineers (IEEE), the development of two-phase soft start control of three-phase induction motors holds the potential to minimize the amount of starting torque fluctuations as well as starting current. Moreover, it utilizes a closed-loop type of control for voltage as well as current in order to facilitate the induction motor’s balanced operation while starting.
Some of the main companies operating in the Europe induction motors market include ABB Ltd, Siemens AG, etc.
ABB Ltd, headquartered in Switzerland, is a global provider of power and automation technologies. The company offers systems, products, solutions, as well as services that enable improved productivity, enhance the energy efficiency, and increase power reliability. ABB Ltd caters to gas and water utilities, electric, as well as industrial and commercial customers.
The company’s business is classified into four segments, namely, electrification products, power grids, process automation, and discrete automation and motion. It predominantly operates in Europe, the Americas, Asia, and the Middle East & Africa.
REPORT SYNOPSIS
REPORT SCOPE | DETAILS |
---|---|
Market Forecast Years | 2023-2032 |
Base Year | 2022 |
Market Historical Years | 2018-2022 |
Forecast Units | Revenue ($ Million) |
Segments Analyzed | Type and Application |
Countries Analyzed | The United Kingdom, Germany, France, Italy, Spain, Rest of Europe |
Companies Analyzed | ABB Ltd, Ametek, Brook Crompton, Johnson Electric Holdings, NIDEC Motor Corporation, Regal Beloit Corporation, Siemens AG, WEG Electric Corporation |
TABLE OF CONTENT
RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
MARKET DYNAMICS
- KEY DRIVERS
- SURGING POPULARITY OF ELECTRIC VEHICLES
- INCREASING TECHNOLOGICAL ADVANCEMENTS
- DOMINANCE OF SQUIRREL CAGE MOTORS IN MINING
- COST-EFFECTIVE AND EASY-TO-MAINTAIN MOTORS
- KEY RESTRAINTS
- HIGH INSTALLATION COSTS OF MANUFACTURING FACILITY
- VOLATILE PRICES OF RAW MATERIALS
- UNAUTHORIZED MARKETS
- KEY DRIVERS
KEY ANALYTICS
- IMPACT OF COVID-19 ON INDUCTION MOTORS MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- KEY BUYING CRITERIA
- REGULATORY FRAMEWORK
MARKET BY TYPE
- SINGLE-PHASE INDUCTION MOTOR
- THREE-PHASE INDUCTION MOTOR
MARKET BY APPLICATION
- COMMERCIAL
- INDUSTRIAL
- RESIDENTIAL
GEOGRAPHICAL ANALYSIS
- EUROPE
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- SPAIN
- REST OF EUROPE
- EUROPE
COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
- ABB LTD
- AMETEK
- BROOK CROMPTON
- JOHNSON ELECTRIC HOLDINGS
- NIDEC MOTOR CORPORATION
- REGAL BELOIT CORPORATION
- SIEMENS AG
- WEG ELECTRIC CORPORATION
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – INDUCTION MOTORS
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: WORLDWIDE SALES OF ELECTRIC VEHICLES IN 2021 (MONTH-WISE SALES)
TABLE 4: COUNTRY-WISE STOCK TARGETS OF ELECTRIC VEHICLES TILL 2021
TABLE 5: COMPARISON BETWEEN SYNCHRONOUS & 3-PHASE INDUCTION MOTORS
TABLE 6: CONTRAST BETWEEN DIFFERENT COMMERCIALLY AVAILABLE MOTOR TECHNOLOGIES
TABLE 7: COMPARISON OF EFFICIENCY CLASSES
TABLE 8: EUROPE INDUCTION MOTORS MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: EUROPE INDUCTION MOTORS MARKET, BY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 10: EUROPE INDUCTION MOTORS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 11: EUROPE INDUCTION MOTORS MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 12: EUROPE INDUCTION MOTORS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 13: EUROPE INDUCTION MOTORS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 14: LEADING PLAYERS OPERATING IN EUROPE INDUCTION MOTORS MARKET
TABLE 15: LIST OF MERGERS & ACQUISITIONS
TABLE 16: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 17: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 18: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: KEY BUYING CRITERIA
FIGURE 6: EUROPE INDUCTION MOTORS MARKET, GROWTH POTENTIAL, BY TYPE, IN 2022
FIGURE 7: EUROPE INDUCTION MOTORS MARKET, BY SINGLE-PHASE INDUCTION MOTOR, 2023-2032 (IN $ MILLION)
FIGURE 8: EUROPE INDUCTION MOTORS MARKET, BY THREE-PHASE INDUCTION MOTOR, 2023-2032 (IN $ MILLION)
FIGURE 9: EUROPE INDUCTION MOTORS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022
FIGURE 10: EUROPE INDUCTION MOTORS MARKET, BY COMMERCIAL, 2023-2032 (IN $ MILLION)
FIGURE 11: EUROPE INDUCTION MOTORS MARKET, BY INDUSTRIAL, 2023-2032 (IN $ MILLION)
FIGURE 12: EUROPE INDUCTION MOTORS MARKET, BY RESIDENTIAL, 2023-2032 (IN $ MILLION)
FIGURE 13: EUROPE INDUCTION MOTORS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)
FIGURE 14: UNITED KINGDOM INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)
FIGURE 15: GERMANY INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)
FIGURE 16: FRANCE INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)
FIGURE 17: ITALY INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)
FIGURE 18: SPAIN INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)
FIGURE 19: REST OF EUROPE INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)
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