North America Induction Motors Market Forecast 2023-2032
KEY FINDINGS
The North America induction motors market is set to grow with a CAGR of xx% during the forecasted period of 2023-2032. Some of the key drivers propelling the market growth of the region include the surging need for energy-efficient devices to decrease electricity consumption and minimize operational costs, in addition to the growing applications of induction motors across the residential, transportation, and commercial sectors.
MARKET INSIGHTS
The North America induction motors market growth evaluation entails a detailed assessment of Canada and the United States. The induction motors market in Canada is mainly fuelled by the growing applications in the manufacturing industry as well as improvements in automation and technology. Aligning with this, Teco Westinghouse Motors, Canada, introduced a new AC induction motor technology termed WorldSeries.
Characterized as a top-quality line of induction motors, the technology is distinguished by high efficiency and advanced software design capabilities. Furthermore, the WorldSeries motors can also meet several specialty applications, including variable frequency drive (VFD) operations. As a result, such technological advancements are set to play an essential role in proliferating the North America induction motors market growth during the forecasting period.
COMPETITIVE INSIGHTS
Some of the key companies in the market are NIDEC Motor Corporation, Ametek, 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
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Surging Popularity Of Electric Vehicles
- 3.1.2. Increasing Technological Advancements
- 3.1.3. Dominance Of Squirrel Cage Motors In Mining
- 3.1.4. Cost-effective And Easy-to-maintain Motors
- 3.2. Key Restraints
- 3.2.1. High Installation Costs Of Manufacturing Facility
- 3.2.2. Volatile Prices Of Raw Materials
- 3.2.3. Unauthorized Markets
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Induction Motors Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Opportunity Matrix
- 4.5. Vendor Landscape
- 4.6. Key Buying Criteria
- 4.7. Regulatory Framework
- 5. Market By Type
- 5.1. Single-phase Induction Motor
- 5.2. Three-phase Induction Motor
- 6. Market By Application
- 6.1. Commercial
- 6.2. Industrial
- 6.3. Residential
- 7. Geographical Analysis
- 7.1. North America
- 7.1.1. Market Size & Estimates
- 7.1.2. Key Growth Enablers
- 7.1.3. Key Challenges
- 7.1.4. Key Players
- 7.1.5. Country Analysis
- 7.1.5.1. United States
- 7.1.5.2. Canada
- 8. Competitive Landscape
- 8.1. Key Strategic Developments
- 8.1.1. Mergers & Acquisitions
- 8.1.2. Product Launches & Developments
- 8.1.3. Partnerships & Agreements
- 8.1.4. Business Expansions & Divestitures
- 8.2. Company Profiles
- 8.2.1. Abb Ltd
- 8.2.2. Ametek
- 8.2.3. Brook Crompton
- 8.2.4. Johnson Electric Holdings
- 8.2.5. Nidec Motor Corporation
- 8.2.6. Regal Beloit Corporation
- 8.2.7. Siemens Ag
- 8.2.8. Weg Electric Corporation
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