The global induction motor market was valued at USD 20.09 Billion in 2023. The industry is expected to expand at a CAGR of 9.50% during the forecast period of 2024-2032 to attain a value of USD 45.47 Billion by 2032.
Base Year
Historical Year
Forecast Year
| Global Induction Motor Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 20.09 |
| Market Size 2032 | USD Billion | 45.47 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 9.5% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 11.9% |
| CAGR 2024-2032 - Market by Country | India | 12.5% |
| CAGR 2024-2032 - Market by Country | Canada | 11.1% |
| CAGR 2024-2032 - Market by Product Type | Single Phase Induction Motors | 11.9% |
| CAGR 2024-2032 - Market by End Use | Commercial | 10.6% |
The induction motor market is witnessing steady growth driven by its widespread use in various industrial applications, including manufacturing, HVAC systems, and automotive industries. Known for their reliability, efficiency, and low maintenance, induction motors are preferred in both small and large-scale operations, thus aiding the induction motor demand.
Technological advancements, such as the development of energy-efficient and variable-speed motors, are expanding their scope, particularly in industries focusing on energy conservation and cost reduction. The growing demand for automation, coupled with industrialization in emerging markets, is further boosting the market. Additionally, the rise of electric vehicles and renewable energy projects is expected to drive future growth in this sector.
For instance, Siemens' SIMOTICS SD next-generation motors are designed with energy-efficient IE4 and IE5 ratings, making them appropriate for industries that emphasize cost-effective energy use. They have variable-speed compatibility to improve performance in applications like conveyor systems and pumps. Similarly, Tesla's electric vehicles make use of induction motors for high efficiency and performance. In the renewable energy sector, General Electric's motors are widely used in wind turbines to support sustainable energy projects. These are examples of how technological innovations in induction motors drive adoption across automotive, industrial, and renewable energy markets to contribute to sector growth and sustainability targets.
Value in USD Billion
2024-2032
Induction Motor Market Outlook
*this image is indicative*
Energy efficiency in industrial applications is the most critical factor influencing the growth of induction motor market. Various industries do not want to increase their cost of operation and strictly follow the environmental regulations that have resulted in higher demand for induction motors with high efficiency. For instance, in the renewable energy sector, induction motors are required for wind turbines, pumps, compressors, etc. The global push for cleaner energy alternatives, coupled with India's increasing infrastructure for renewable energy, boosts the application of such motors for a productive and cost-effective operation.
The application of induction motors in surgical robotic systems is a niche driver for the induction motor market. Induction motors guarantee precise movement, reliability, and durability needed for robotic-assisted surgeries. For instance, the da Vinci Surgical System applies these motors to maintain constant robotic arm control for minimal invasive procedures. With advancements in medical robotics, high-performance induction motors are expected to be increasingly applied in healthcare, which will promote niche growth in this segment.
Energy efficiency, automation, electric vehicles, and IoT integration are driving growth in the induction motor market.
The rising interest in energy efficiency and sustainability is a dominant trend in the induction motor market. Governments and industries are focusing on energy-saving technologies because of increasing energy costs and environmental issues. Induction motors are being designed with higher efficiency ratings, reducing energy consumption and operational costs. With variable-speed drives (VSD) and advanced motor controllers, the energy efficiency of the motors has been enhanced even further. They are now preferred in applications where energy saving is the main requirement. Increasingly, manufacturers, HVAC, and utilities opt for energy-efficient induction motors as a measure towards sustainability and to reduce their carbon footprint, thereby propelling the induction motor demand.
Key growth factors in the induction motor market include the rapid growth of automation and smart manufacturing. High-performance motors are in greater demand as industries move toward automated processes. Induction motors are very popular in robotic arms, conveyor systems, and other automated machinery because of their reliability and ability to continuously work under demanding conditions. The rise of Industry 4.0, which is characterized by smart factories and connected machines, is also raising the demand for induction motors with advanced monitoring systems. Such motors provide the accuracy, durability, and efficiency required in modern automated and industrial applications and thus boost the market growth.
Induction motors are increasingly being adopted in electric vehicles (EVs) due to their robustness, efficiency, and cost-effectiveness. The EV manufacturers are now switching towards induction motors rather than permanent magnet motors because they have a much simpler design with fewer rare earth materials. Induction motors also have the advantage of being durable and can operate at higher temperatures without degrading. With the global automotive industry's move toward electric mobility, the demand for efficient and reliable induction motors is expected to surge. Further, the ever-increasing availability of charging infrastructure, as well as government incentives for the adoption of electric vehicles are further fueling the adoption of induction motors in electric vehicles, thus boosting the induction motor market revenue.
The integration of induction motors with IoT and smart technologies has revolutionized the monitoring and maintenance of these motors. IoT-enabled induction motors enable the real-time collection of information regarding the performance of motors like temperature, speed, and vibration level. It can be used to do predictive maintenance and therefore reduces unplanned downtime. Advanced sensors and AI-driven analytics are helping businesses get better results in the performance of an induction motor to work longer. This trend is particularly relevant in sectors where continuous operation is needed, such as manufacturing, mining, and HVAC. The application of this new standard shall enhance the efficiency of a motor-driven system in operation.
The demand for efficient electrical systems, such as induction motors, is rising as a result of the world's transition to renewable energy, thus shaping new trends in the induction motor market. As of March 31, 2024, India's installed generating capacity was 441,970 MW, of which 198,753 MW, or 45%, came from non-fossil fuel sources. This comprises large hydro (46,928 MW), wind (45,887 MW), and solar (81,814 MW). Induction motors, which are necessary to power renewable energy generation and distribution systems, are becoming much more in demand as India's renewable energy infrastructure grows.
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“Induction Motor Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type:
Market Breakup by End Use:
Market Breakup by Region:
By Product Type Analysis
Single-phase and three-phase induction motors are gaining significant traction in the global market. As per induction motor market analysis, these motors are very durable, cost-effective, and versatile for nearly any type of application. Single-phase motors are commonly used on household appliances and small machines and are used generally in light-duty applications, whereas three-phase motors are usually opted for industrial settings, yielding greater efficiency, power output, and aptitude for heavy-duty equipment. With increasing interests in automation and energy, the demand for both motor types, especially in the manufacturing and HVAC industries, has accelerated.
Market Analysis by End Use
Induction motors have significant usage in the industrial, commercial, and residential sector because they are efficient and versatile. As per induction motor industry analysis, in industrial applications, it provides power for machinery such as pumps, compressors, conveyors, and fans to support the manufacturing and production process. In commercial applications, induction motors drive HVAC systems, elevators, escalators, and refrigeration units to enhance operational efficiency. In household uses, they feature in washing machines, air conditioners, and refrigerators, on which they rely to deliver reliable and energy-efficient performance for daily applications.
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North America Induction Motor Market Opportunities
Huge opportunities exist in the North American induction motor market, driven primarily by industrial automation, energy efficiency initiatives, and renewable energy projects. The adoption of automation technologies in all sectors, including manufacturing, automotive, and HVAC in the U.S. and Canada, is boosting the demand for induction motors. The strict regulations on energy efficiency and the resultant push toward greener technologies are also driving the utilisation of high-efficiency motors. Renewable energy infrastructure growth- wind and solar- further supports the demand in induction motors, particularly in power generation and distribution.
| CAGR 2024-2032 - Market by | Country |
| India | 12.5% |
| Canada | 11.1% |
| China | 10.5% |
| USA | 9.6% |
| Australia | 8.1% |
| Japan | 7.1% |
| UK | XX% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Asia Pacific Induction Motor Market Trends
Growing industrialization and automation, supplemented by the need for energy efficiency solutions, is also fueling the Asia Pacific market for induction motor. Companies like Siemens and Mitsubishi Electric are leaders in this space and introduce the latest induction motors in manufacturing, HVAC, and renewable energy application spaces. Infrastructure development is on the priority list of several countries, and India and China are among them. Thus, demand for efficient motor solutions to power industrial machinery, renewable energy projects, and commercial applications is expected to dominate the region.
Europe Induction Motor Market Dynamics
Stricter energy efficiency norms have been driving the Europe induction motor market. Continuous industrial automation, as well as rising demand for renewable energy solutions, also fuel this market. Increasingly, industries are focusing on the high-efficiency induction motors and enhancing their technologies to meet EU environmental standards in manufacturing, HVAC, and renewable energy sectors. Some of these leading companies include ABB and Siemens, among others. Furthermore, the focus on sustainable energy and infrastructures by Europe is driving the demand for efficient induction motors even more.
Middle East and Africa Induction Motor Market Drivers
Induction motor market in the Middle East and Africa is mainly driven due to rapid industrialization, infrastructure development, and increasing demands for energy-efficient solutions. Indications are that in UAE, Saudi Arabia, and South Africa, massive investments in oil & gas, mining, and manufacturing industries have raised the demand for rugged induction motors. The region's efforts towards renewable energy sources, in which solar is highly pursued in Morocco, also adds to the growth. Additionally, increasing energy efficiency regulation has led to greater adoption of high-efficiency induction motors across sectors.
Latin America Induction Motor Market Insights
Rising industrial sectors, renewable energy plans, and more focus on energy efficiency are driving the induction motor market in Latin America. In Brazil, Mexico, and Argentina, investments have been made towards manufacturing, mining, and renewable source projects, which generate power demand for reliable motor solutions. Companies like WEG, a Brazilian manufacturer, are setting an example in the industry by providing energy-efficient induction motors for various applications, including industrial machinery, HVAC, and renewable energy generation, which in turn expands the market in the region.
The Induction Motor market players are looking to improve processing technologies that will assist in better quality and sustainability of their product to meet the emerging demand for high-performance Induction Motor in construction, cement, and infrastructure. Such Induction Motor companies invest more in beneficiation techniques or eco-friendly products and CO2 emissions in the pursuit of an increased global focus on sustainable building materials.
Founded in 1988 and headquartered in Zurich, Switzerland, ABB's present stock of induction motors deals with high efficiency and performance. The portfolio comprises motors for industrial, commercial, and renewable energy applications with a focus on saving energy with advanced technology and an automation solution.
AMETEK was founded in 1930 and is headquartered in Berwyn, Pennsylvania. They offer a wide range of high-quali...
Siemens is a company founded in 1847, based in Munich, Germany, which offers one of the most versatile inducti...
Founded in 1959, Johnson Electric is headquartered in Hong Kong, with a focus on small to medium-sized inducti...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other market players in the induction motor market report includes Regal Beloit Corporation, among others.
Start-ups in the induction motor market focus on developing energy-efficient smart motors with advanced automation. These include IoT-based predictive maintenance and efficiency improvement for energy consumption and enhanced performance. Start-ups also look towards emerging sectors such as electric vehicles and automation with the solution of sustainability and cost-effectiveness for industrial applications.
EcoMotor Innovations
EcoMotor Innovations focuses on developing energy-efficient induction motors for industrial applications, with IoT-based monitoring for predictive maintenance and at a lower cost that is sustainable to reduce consumption of energy in the processes of manufacturing.
VoltDrive Technologies
VoltDrive Technologies designs smart induction motors that are specifically for electric vehicles using advanced sensors and AI algorithms to optimize performance. In their focus on enhancing motor efficiency, durability, and the integration of IoT for real-time monitoring.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 20.09 Billion.
The Induction Motor market is assessed to grow at a CAGR of 9.50% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 45.47 Billion by 2032.
The major market drivers include rising disposable incomes, increasing sales of electric vehicles, rising environmental concerns, and rapid technological advancements.
The stringent government regulations pertaining to the use of environmentally friendly and sustainable vehicles is expected to be a key trend guiding the growth of the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The significant product types considered in the market report include single-phase induction motors and three-phase induction motors.
Based on end use the market is divided into industrial, commercial, and residential.
The competitive landscape consists of ABB Ltd, AMETEK Inc., Siemens, Johnson Electric Holdings Limited, and Regal Beloit Corporation, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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Vietnam
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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