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Base Year: 2024
Companies covered: 15
Tables & Figures: 397
Countries covered: 18
Pages: 230
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Induction Motor Market
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Induction Motor Market Size
The global induction motor market size was valued at USD 20.3 billion in 2024 and is estimated to grow at a CAGR of 6.4% during 2025 - 2034. The accountability of machinery control has been placed on motors, which places the responsibility on automated production lines. In the manufacturing sector, induction motors which are long lasting, efficient and versatile are used to power conveyor belts, robotic arms and other automated devices. It goes without saying that the surge of labor light industries has triggered an explosion of the induction motors market. Because of their constant torque and speed, induction motors are used in robotics and Automated Guided Vehicles (AGVs), which serve in manufacturing, warehousing, logistics, and even medicine.
In automation oriented categories such as Aeronautics, Defence and others, induction motors with variable frequency drives stand out for being the most energy efficient and cost effective. Automation, for the aerospace and defense industries, goes a long way for improving the level of precision and efficiency. Induction motors are widely used in these sectors, as they operate automated assembly and production systems for aircraft, missiles and drones. In this instance it is sufficient to say that such push in for automation has increased the use of such motors in high precision industries as one can see the market growing.
Induction electric motors have encountered new innovations, high efficiency windings, better quality insulation material, and new rotor designs which have all contributed in reducing energy wastage. This has in turn increased induction motors viability and usefulness.
Induction motors with high efficiency, especially IE3 and IE4, can be regarded as high performance motors that meet all parameters with minimum core losses and a reduced rate of heating with lower energy consumption. The HVAC industry, which is one of the largest users of induction motors, has gained from these efficiency improvements. With the growing concern for energy shortages, the trend of using these advanced induction motors for heating and air conditioning systems is widespread.
Induction Motor Market Trends
The implementation of Automation and Smart Manufacturing has led to an increased use of induction motors in areas such as pumps, conveyors and robotic systems across the industry. The electricity motor offers the desired physical characteristics combined with low production costs thus making them suitable for this domain. The Key Players aim to achieve energy efficiency in their equipment operations in order to minimize the operation costs and the overall greenhouse effect.
The trend for development of induction motors with better energy efficiency ratings is being observed as they are highly durable and low on maintenance. The renewables which mainly include wind turbines and solar power plants heavily rely on induction motors as well. With globalization focusing more on sources that include renewable energy, the use of induction motors for the aforementioned systems is anticipated to increase.
Induction Motor Market Analysis
Without a doubt the introduction of high efficiency winding, the use of variable frequency drives along with other advanced materials increases the overall price of the induction motor. And even though the investment is extremely high, it does pay off in the long run. But the small and medium enterprises and enterprises with budget restrictions do struggle since the initial investment can be a large barrier. The majority of the induction motors that don’t fall under the category of induction motors are ‘energy efficient.’ While these motors do save on energy and cut down costs on maintenance during their lifespan, still the initial investment makes them hard to purchase.
But thanks to advancements in technology, such as modernization of the induction motors and alterations in manufacturing processes, the injection motors have become way more cost-efficient. Enhanced cooling systems, the integration of sensors and increased power density are some of the factors expanding the application of these monitors. All in all, there has been a steady growth in the market of industrial machinery and electric vehicles as a results of the motors becoming more industry-friendly.
The three-phase induction motors segment was crossed USD 12.4 billion in 2024 and is anticipated to grow with a CAGR of 6.5% through 2034. Three-phase induction motors are widely employed in industrial settings like pumps, compressors, and conveyor belts because they are very efficient and can carry enormous weights. Growth is sustained by the accelerating industrial development and growing mechanization in the production processes.
The direct sale segment holds a large chunk of the induction motor market with over 65.8% of the revenue share and is expected to rise at a CAGR of 6.5 % through 2034. The high supply of direct sales is attributed to the increasing needs for high precision custom solutions, electric vehicle/industrial automation companies have also expanded their direct sales. Businesses are now also using e-commerce sites to contact customers directly for easier and quicker transactions.
The U.S. induction motor market held approximately 80% revenue share in 2024 and is likely to increase at an anticipated compound annual growth rate (CAGR) of 6.4% through 2034. The use of induction motors for industrial applications has been on the rise in North America due to the rising demand for industrial automation, efficiency and modernization. Business sectors such as automotive, food and beverage and chemical processing have begun implementing automation processes in a bid to maximize production and minimize running expenses.
North America: To turn a profit, we have no choice but to focus on amalgamating the resources and people willing to work hard. In 2024, we predict that the U.S., and garner a staggering CAG in this region of 80%, boasting to becoming the single largest induction motor holder on the globe. The U.S consistently has held supremacy in the motor market, owing this sustainability to the efficient conversion rate of diverse technologies, combined with an incredibly functional infrastructure. In contrast to other nations trying to make a mark in the market, the U.S has emerged with competitive policies to ensure advancement. The recent DOE energy efficiency policies depciting to gain an upper hand is solely because of the vast Domestic demand for induction motors.
Europe: The European induction motor market is anticipated a steady compound growth over the years, estimating a CAGR of 6.5% till 2034. Germany has consistently been the largest holder in European induction motors owing this statistically to one of the largest and cutting-edge managed manufacturing industries. Their renewed vigor to promote automation, alongside a significant investment into clean technology has allowed them to garner international appeal. Industry 4.0 programs are being rolled out in an attempt to position the country within the top cream ranking. These initiatives are set to allow the transformation needed into today’s energy efficient world and motors with great performance would be the foundation.
Asia Pacific: As of 2024, China controlled around 30.9% of the Asia Pacific induction motor market and is expected to expand at a compound annual growth rate of 7.3% during 2025 to 2034. China is rapidly emerging in the field of electric vehicles, headlining the Asia Pacific market because of its broad industrial base and quick urbanization. Such expansion, combined with the transition towards electric vehicles, the increase in investment in renewable resources, and the growth of smart automation facilitates China's competitive technology, enabling it to be a great production and consumer hub of induction motors in a wide array of industries, including automotive and energy.
Induction Motor Market Share
The market for induction motors is split up and there are multiple local manufacturers that operate internationally and there companies control 10% to 15% of the overall market jointly. Some of the major approaches employed by regional companies in the induction motor industry are focused on expanding their international presence and clientele, through product development, forming strategic alliances, acquisitions or providing energy friendly solutions.
Induction Motor Market Companies
Major players operating in the induction motor industry are:
Induction Motor Market Industry News
The induction motor market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Billion) and Volume (Thousand Units) from 2021 to 2034, for the following segments:
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Market, By Product Type
Market, By Application
Market, By Distribution Channel
The above information is provided for the following regions and countries: