Global Induction Motor Market 2015-2019
About Induction Motors
The invention of motors or more precisely, electric motors, is one of the major achievements in the field of technology and engineering. The advent of motors helped the world move from being manual to a highly mechanized one. Since then the world has come a long way from utilizing electric power to glow bulbs to converting electrical energy to run various mechanical machinery.
An electric motor is an electro-mechanical device that converts electrical energy to mechanical energy.
Technavio's analysts forecast the global induction motor market to grow at a CAGR of 12.35% over the period 2015-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global induction motor market during the period 2015–2019. For ascertaining the market size and vendor share, the report considers the revenue obtained from the sales of induction motors by the commercial, residential and Industrial end users segments.
Technavio's report, the Global Induction Motor Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors.
Technavio Announces the Publication of its Research Report – Global Induction Motor Market 2015-2019.
Technavio recognizes the following companies as the key players in the Global Induction Motor Market: ABB , Ametek, Emerson Electric, Siemens, WEG.
Other Prominent Vendors in the market are Baldor Electric , Brook Crompton UK, Danaher Motion, Faulhaber Group, Johnson Electric Holdings, Maxon Motor, Regal Beloit, Siemens.
Commenting on the report, an analyst from Technavio’s team said, “One major trend in this market is adoption of Energy-efficient Motors. Stringent electricity consumption standards and the increasing price of electricity are fostering the increasing demand for energy-efficient electric induction motors globally. Vendors all across the world are also facing the implementation of various design and manufacturing standards and regulations on the manufacture of energy-efficient induction electric motors. ”
According to the report, one key driver of this market is the increased need for energy efficiency. Energy management is considered to be one of most effective methods to reduce the energy usage in the residential sector. There are various processes involved in HEM, including recording, normalizing, analyzing, targeting, monitoring, reporting, and controlling.
Further, the report states that one of the major challenges is highly fragmented market. The market is highly fragmented, with intense rivalry among local and international vendors. Many major vendors are finding it hard to contend with low-cost manufacturers from China. The low entry barrier has made the market even more competitive.
ABB , Ametek, Emerson Electric, Siemens, WEG, Baldor Electric , Brook Crompton UK, Danaher Motion, Faulhaber Group, Johnson Electric Holdings, Maxon Motor, Regal Beloit, Siemens