Yahoo Finance GLOBAL INDUCTION MOTORS MARKET FORECAST 2023-2032
KEY FINDINGS. The global induction motors market is forecasted to grow with a CAGR of xx% in terms of revenue during the forecast years 2022 to 2030. The market’s notable growth is credited to the surging popularity of electric vehicles, the dominance of squirrel cage motors in mining, the advantages of cost-effective and easy-to-maintain motors, as well as the rise in technological advancements.
New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL INDUCTION MOTORS MARKET FORECAST 2023-2032" - https://www.reportlinker.com/p06415356/?utm_source=GNW
MARKET INSIGHTS
Rapid urbanization has resulted in significantly high rates of air pollution across major cities, globally.As per the Institute of Electrical and Electronics Engineers (IEEE, United States), more than 90% of air pollution is accredited to vehicle emissions, as well as the limited use of emission control strategies.
Consequently, various automobile manufacturers are diverting their attention toward the development of hybrid electric vehicles (HEVs) and electric vehicles (EVs).
The automobile industry is also investing substantially in order to accommodate stringent environmental regulations.Aligning with this, electric vehicle sales are expected to grow exponentially in order to reduce carbon emissions by automobiles.
Hence, the surging popularity of electric vehicles is set to play an essential role in augmenting the global induction motors market growth during the forecast years.
REGIONAL INSIGHTS
The global induction motors market growth evaluation comprises the assessment of the Asia-Pacific, North America, Europe, and the Rest of World.The Asia-Pacific is estimated to be the dominating region during the forecast years.
Some of the key factors fueling the regional market’s growth include the surging use of motors in agricultural machines, the rising number of manufacturing as well as industrial units, and the accelerating demand for electrical energy in power supply generation.
COMPETITIVE INSIGHTS
The intensity of competitive rivalry within the global induction motors market is expected to remain high during the forecast period. Some of the key players operating in the market include Brook Crompton, Johnson Electric Holdings, ABB Ltd, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
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
Read the full report: https://www.reportlinker.com/p06415356/?utm_source=GNW
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