What is Global Squirrel-cage Induction Motor Market?
The Global Squirrel-cage Induction Motor Market is a vast and dynamic sector that encompasses a wide range of applications and industries. These motors, which are a type of three-phase induction motors, are named for their rotor design that resembles a squirrel cage. They are known for their simplicity, robustness, and efficiency, making them a popular choice in various industries. The market for these motors is global, meaning they are produced and used all over the world. The market's value was estimated at US$ 13940 million in 2022 and is projected to reach US$ 17540 million by 2029. This indicates a steady growth in the market, with a Compound Annual Growth Rate (CAGR) of 3.3% during the forecast period of 2023-2029.
Low Pressure, High Pressure in the Global Squirrel-cage Induction Motor Market:
The Global Squirrel-cage Induction Motor Market is segmented based on pressure types, namely Low Pressure and High Pressure. Low Pressure motors are the most prevalent, accounting for 73% of the market share. These motors are typically used in applications that require lower power and torque. On the other hand, High Pressure motors are designed for applications that require higher power and torque. They are more complex and expensive than their low-pressure counterparts, but they offer superior performance and efficiency. The choice between low and high pressure depends on the specific requirements of the application.
Chemical, Metallurgy and Mining, Water and wastewater treatment, Petrochemical, Food and Beverage, Automotive and Transportation, General Machinery, Others in the Global Squirrel-cage Induction Motor Market:
The Global Squirrel-cage Induction Motor Market finds usage in a variety of sectors including Chemical, Metallurgy and Mining, Water and Wastewater treatment, Petrochemical, Food and Beverage, Automotive and Transportation, General Machinery, and others. In the Chemical industry, these motors are used in various processes such as mixing, pumping, and compressing. In Metallurgy and Mining, they are used in crushers, conveyors, and hoists. In Water and Wastewater treatment, they are used in pumps and blowers. In the Petrochemical industry, they are used in pumps, compressors, and fans. In the Food and Beverage industry, they are used in mixers, conveyors, and packaging machines. In the Automotive and Transportation industry, they are used in electric vehicles and conveyors. In General Machinery, they are used in a variety of machines such as lathes, mills, and drills.
Global Squirrel-cage Induction Motor Market Outlook:
The market outlook for the Global Squirrel-cage Induction Motor Market is positive, with steady growth anticipated in the coming years. The market was valued at US$ 13940 million in 2022 and is expected to reach US$ 17540 million by 2029, indicating a CAGR of 3.3% during the forecast period of 2023-2029. The largest share of the market is held by Low Pressure motors, which account for 73% of the market. The largest end-use industry segment of the market in 2019 was the General Machinery segment, which held 37% of the global market. Europe holds the major share in the market, with a share of 32%. This data suggests that the market for Squirrel-cage Induction Motors is robust and diverse, with a wide range of applications and industries contributing to its growth.
| Report Metric | Details |
| Report Name | Squirrel-cage Induction Motor Market |
| Accounted market size in 2022 | US$ 13940 in million |
| Forecasted market size in 2029 | US$ 17540 million |
| CAGR | 3.3% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ABB, Simens, Wolong, WEG, TECO, Xiangdian, NIDEC, HITACHI, Huali Group, Toshiba, Tatung, Anhui Wannan, Jiangsu dazhong, Jiangte Heavy Industry Science &Technology Development, YASKAWA, NORD, Regal-Beloit, SEW Eurodrive, Jinlong, Fujian Yuandong |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
