The North American low-voltage induction motors market was valued at USD 3.87 billion in the previous year. It is expected to register a CAGR of 3.31%, reaching USD 4.58 billion during the forecast period.
The North American low voltage induction motors market is moderately fragmented, with the presence of major players like Nidec Corporation, ABB Ltd, Siemens AG, Toshiba Industrial Corporation (Toshiba Corporation), and Shanghai Electrical Machinery Group Co. Ltd (Shanghai Electric). Players in the market are adopting strategies, such as partnerships and acquisitions, to enhance their product offerings and gain sustainable competitive advantage.
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