DUBLIN--(BUSINESS WIRE)--The "Induction Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global induction motor market was worth US$ 12.7 Billion in 2017
The motor is absolutely safe to be used in heavily polluted and explosive work conditions. With high durability, it can be used for years without worrying for maintenance. It has applications in pumps, small fans, electric shavers, cranes, crushers, textile industry, oil extracting mills, etc. Another major factor driving the demand of induction motors is their environment friendly nature.
A major trend influencing the market is the rising focus on the reduction of emission of greenhouse gases and the rising demand of products that consumer less energy. With induction motors consuming significantly lesser energy compared to conventional motors, they represent a better alternative for the environment.
Affordability, durability, easy-functioning and easy maintenance are some of the other major factors that are also driving the demand of induction motors.
Looking forward, the market value is projected to reach US$ 22.7 Billion by 2023, expanding at a CAGR of 10.2% during 2018-2023.
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
5 Global Induction Motor Market
6 Market Breakup by Product Type
7 Market Breakup by End-Use Sector
8 Market Breakup by Region
9 Induction Motor Manufacturing Process
10 Competitive Landscape
- Emerson Electric
- Baldor Electric
- Brook Crompton
- Danaher Corporation
- Johnson Electric Holdings
- Regal Beloit
For more information about this report visit https://www.researchandmarkets.com/research/wc6582/global_induction?w=4