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NORTH AMERICA INDUCTION MOTORS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

North America Induction Motors Market by Type (Single-phase Induction Motor, Three-phase Induction Motor) Market by Application (Commercial, Industrial, Residential) by Geography


MARKET OVERVIEW

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.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Type and Application
Countries AnalyzedThe United States and Canada
Companies AnalyzedABB Ltd, Ametek, Brook Crompton, Johnson Electric Holdings, NIDEC Motor Corporation, Regal Beloit Corporation, Siemens AG, WEG Electric Corporation

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. SURGING POPULARITY OF ELECTRIC VEHICLES
      2. INCREASING TECHNOLOGICAL ADVANCEMENTS
      3. DOMINANCE OF SQUIRREL CAGE MOTORS IN MINING
      4. COST-EFFECTIVE AND EASY-TO-MAINTAIN MOTORS
    2. KEY RESTRAINTS
      1. HIGH INSTALLATION COSTS OF MANUFACTURING FACILITY
      2. VOLATILE PRICES OF RAW MATERIALS
      3. UNAUTHORIZED MARKETS 
  4. KEY ANALYTICS
    1. IMPACT OF COVID-19 ON INDUCTION MOTORS MARKET
    2. KEY MARKET TRENDS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. OPPORTUNITY MATRIX
    5. VENDOR LANDSCAPE
    6. KEY BUYING CRITERIA
    7. REGULATORY FRAMEWORK
  5. MARKET BY TYPE
    1. SINGLE-PHASE INDUCTION MOTOR 
    2. THREE-PHASE INDUCTION MOTOR
  6. MARKET BY APPLICATION 
    1. COMMERCIAL 
    2. INDUSTRIAL
    3. RESIDENTIAL
  7. GEOGRAPHICAL ANALYSIS 
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. COUNTRY ANALYSIS
        1. UNITED STATES
        2. CANADA
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. ABB LTD
      2. AMETEK
      3. BROOK CROMPTON
      4. JOHNSON ELECTRIC HOLDINGS 
      5. NIDEC MOTOR CORPORATION
      6. REGAL BELOIT CORPORATION
      7. SIEMENS AG
      8. WEG ELECTRIC CORPORATION

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: NORTH AMERICA INDUCTION MOTORS MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: NORTH AMERICA INDUCTION MOTORS MARKET, BY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 10: NORTH AMERICA INDUCTION MOTORS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: NORTH AMERICA INDUCTION MOTORS MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 12: NORTH AMERICA INDUCTION MOTORS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: NORTH AMERICA INDUCTION MOTORS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 14: LEADING PLAYERS OPERATING IN NORTH AMERICA 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: NORTH AMERICA INDUCTION MOTORS MARKET, GROWTH POTENTIAL, BY TYPE, IN 2022

FIGURE 7: NORTH AMERICA INDUCTION MOTORS MARKET, BY SINGLE-PHASE INDUCTION MOTOR, 2023-2032 (IN $ MILLION)

FIGURE 8: NORTH AMERICA INDUCTION MOTORS MARKET, BY THREE-PHASE INDUCTION MOTOR, 2023-2032 (IN $ MILLION)

FIGURE 9: NORTH AMERICA INDUCTION MOTORS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022 

FIGURE 10: NORTH AMERICA INDUCTION MOTORS MARKET, BY COMMERCIAL, 2023-2032 (IN $ MILLION)

FIGURE 11: NORTH AMERICA INDUCTION MOTORS MARKET, BY INDUSTRIAL, 2023-2032 (IN $ MILLION)

FIGURE 12: NORTH AMERICA INDUCTION MOTORS MARKET, BY RESIDENTIAL, 2023-2032 (IN $ MILLION)

FIGURE 13: NORTH AMERICA INDUCTION MOTORS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 14: UNITED STATES INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 15: CANADA INDUCTION MOTORS MARKET, 2023-2032 (IN $ MILLION)

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