NORTH AMERICA INDUCTION MOTORS MARKET FORECAST 2023-2032

The North America induction motors market is anticipated to rise with a CAGR of xx% during the forecasted years of 2023-2032, acquiring a revenue share of $xx million by 2032.

The surging applications of induction motors across the transportation, residential, and commercial industries, as well as the rising need for energy-efficient devices in order to reduce operational costs and decrease electricity consumption, are among the key factors attributed to the market growth in North America.

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The North America induction motors market growth assessment comprises a detailed evaluation of the United States and Canada. The induction motors market in the United States is primarily fuelled by the increasing applications within the manufacturing sector, coupled with technological advancements. Since induction motors are an integral part of the production process, the rising need for higher efficiency within the manufacturing sector creates a wider growth scope for the market in the United States.

The Cooper Development Association Organization continues to remain essential for constant improvements in motor efficiency. The association also introduced a switched reluctance motor (SRM), a new electric motor that offers torque. The motor utilizes a coil made of roped copper wire, resulting in increased resistance of the conductor. Likewise, according to the Institute of Electrical and Electronics Engineers (IEEE, United States), a new motor speed control approach based on methods of synergetic control theory is set to play an essential role in integrating synergetic control as well as traditional speed closed-loop control. Therefore, the rising adoption of new and advanced induction motors in the United States supplements the region’s induction motors market growth during the forecast period.

The North America induction motors market is segmented into type and application. The type segment includes single-phase induction motor and three-phase induction motor. Single-phase induction motors operate on single-phase AC supply in order to meet the requirements of several low-power applications. These include refrigerators, food mixers, ceiling fans, vacuum cleaners, portable drills, hair dryers, and others. Furthermore, according to the Journal of Energy Research and Environmental Technology (JERET), the development of the solar PV array Ćuk converter fed single-phase induction motor is extensively utilized for water pumping. The motor requires a duty cycle of the high Ćuk converter, controlled to maintain the DC link voltage at the required level.

Some of the major factors expected to contribute to the growth of the single-phase induction motor segment include the rising adoption of various low-power residential as well as domestic applications and technological advancements and developments in single-phase induction motors.

The top players operating in the North America induction motors market are Ametek, NIDEC Motor Corporation, etc.

Ametek Inc, headquartered in the United States, designs and sells electronic instruments as well as devices. The company’s product portfolio entails gauges, electromechanical devices, electrical cord reels, medical materials, titanium alloys, and motion control systems. Moreover, the company also provides products, such as connectors, motors, data acquisition units, engine and aircraft condition monitoring systems, oil and gas production products, fitness equipment, fuel and fluid measurement systems, power inverters, UPS systems, and others.

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