Germany Induction Motors Market 2023-2030

Germany Induction Motors Market 2023-2030

KEY FINDINGS

The Germany induction motors market is projected to rise with a CAGR of xx% during the forecasting years, reaching a revenue share of $xx million by 2030. The base year considered for the market studied is 2022, and the forecasted period is from 2023 to 2030. The country’s market growth is determined by key drivers, such as government initiatives for the promotion of industrial automation as well as the increasing demand for electric vehicles.

MARKET INSIGHTS

According to the Germany Trade & Invest (GTAI), the German government introduced a campaign to place around 1 million electric cars on the roads in the country by 2020, thus making battery research a priority. Besides, the campaign allocated approximately $705 million as an economic stimulus package for bolstering the deployment of electric vehicles in Germany. Moreover, such initiatives have also played an essential role in ranking the nation as an electric vehicle market leader, globally.

Conversely, technological advancements are also anticipated to boost the demand for induction motors in Germany over the upcoming years. For example, engineers from Marktredwitz designed a robust three-phase induction motor predominantly for use in the NAVYA Autonom shuttle. With an optimized cooling system, the motor can be operated over a wide rpm range. Therefore, these factors are set to promote the Germany induction motors market growth during the forecast period.

COMPETITIVE INSIGHTS

Some of the top players operating in the market include WEG Electric Corporation, Siemens AG, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments