The new report by Expert Market Research titled, ‘North America Induction AC Electric Motor Market Share, Report and Forecast 2022-2027’, gives an in-depth analysis of the North America induction AC electric motor market, assessing the market based on its segments like types, efficiency rating, speed, applications, and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
North America Induction AC Electric Motor Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 4.18 Billion
• Forecast CAGR (2022-2027): 13%
• Forecast Market Size (2027): USD 8.51 Billion
|Market Size in 2021||USD 4.18 Billion|
|Revenue Forecast in 2027||USD 8.51 Billion|
|Growth Rate CAGR||13%|
|Major Players||ABB Ltd., Rockwell Automation, Inc., Siemens AG, ARC Systems, Inc., and Emerson Electric Co., among others.|
The increasing industries in the North American region, owing to rapid industrialisation and the use of induction AC electric motors, are driving the market for induction AC electric motors. The exceptional characteristics and benefits of it, such as low cost, saving of energy, reduction of noise, minimum maintenance, and high efficiency, and can be operated in harsh environments, are contributing to the augmentation of the market.
Moreover, the massive urbanisation in North America is leading to the utilisation of many modern-day appliances, which is bolstering the induction AC electric motors as many appliances, like washing machines, fans, mixers, high-speed vacuum cleaners use induction AC electric motors. The growing use of these motors in heating, ventilation, and air-cooling owing to the increasing purchasing power is also resulting in the incremental development of the industry. All these factors are providing significant impetus to the market.
North America Induction AC Electric Motor Industry Definition and Major Segments
The induction AC electric motor, also called asynchronous motor, uses electric current to produce torque. The torque is obtained from the electromagnetic induction from the magnetic field of the stator winding. It consists of a stator and rotor and is used for various purposes in household and commercial sectors.
The induction AC electric motor industry, by type, can be segmented into:
• < 1 kV
• 1 kV – 6 kV
• > 6 kV
Based on efficiency rating, the market is divided into:
On the basis of speed, the market can be categorised into:
• Ultra-High-Speed Motors
• High-Speed Motors
• Medium Speed Motors
• Low Speed Motors
Based on application, the market can be classified into:
• Motor Vehicle
The regional markets for induction AC electric motor include the United States and Canada.
North America Induction AC Electric Motor Market Trends
The wide acceptance of these induction AC electric motors is leading many companies to launch efficient motors to escalate their market potential. The die-cast copper rotor motor technology by Siemens AG and Copper Development Association, Inc. entered the USA industrial ground. The companies incorporated high conductivity copper rotors into their motors, and it is a motor technology that provides high performance, reliability, and efficiency.
In addition, another company, Rockwell Automation, Inc., also offers industrial motors that are of high quality and can stand up to exceptional conditions such as low-speed high torque applications. The technological advancements and the investments made by the industry players are also expected to propel the induction AC electric motor industry in the forecast period.
Key Market Players
The major players in the market are:
- ABB Ltd.
- Rockwell Automation, Inc.
- Siemens AG
- ARC Systems, Inc.
- Emerson Electric Co.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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