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 products and applications. At its core, it refers to the global market for squirrel-cage induction motors, a type of electric motor that operates by inducing a current in its rotor via electromagnetic induction. These motors are known for their simplicity, robustness, and efficiency, making them a popular choice in various industries. In 2023, the market was valued at a significant US$ 13940 million, reflecting the high demand for these motors worldwide. The market is projected to grow even further, reaching an estimated value of US$ 17540 million by 2030. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 3.3% during the forecast period from 2024 to 2030.
Low Pressure, High Pressure in the Global Squirrel-cage Induction Motor Market:
The Global Squirrel-cage Induction Motor Market is further segmented based on pressure levels, namely Low Pressure and High Pressure. Low Pressure motors are the most common, accounting for a whopping 73% of the global market. These motors are typically used in applications that require less power and torque, such as small machinery and household appliances. On the other hand, High Pressure motors are designed for heavy-duty applications that require high power and torque, such as industrial machinery and large-scale manufacturing equipment. Despite their lower market share, High Pressure motors are crucial in industries that demand high-performance and reliable motors.
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 versatility of squirrel-cage induction motors is evident in their wide range of applications. They are used in various 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 to drive pumps, compressors, and other equipment. In Metallurgy and Mining, they power conveyors, crushers, and excavators. In Water and Wastewater Treatment, they are used in pumps and blowers. In the Petrochemical industry, they drive compressors, pumps, and fans. In the Food and Beverage industry, they power mixers, conveyors, and packaging machines. In the Automotive and Transportation industry, they are used in electric vehicles and public transportation systems. In General Machinery, they are used in a variety of machines, from lathes to milling machines.
Global Squirrel-cage Induction Motor Market Outlook:
The market outlook for the Global Squirrel-cage Induction Motor Market is promising. In 2023, the market was valued at US$ 13940 million and is expected to grow to US$ 17540 million by 2030, reflecting a CAGR of 3.3% during the forecast period from 2024 to 2030. The largest share of the market is held by Low Pressure motors, which account for 73% of the global market. In terms of applications, the General Machinery segment is the largest end-use industry, accounting for 37% of the global market in 2019. Geographically, Europe holds the largest share of the market, with a 32% share. This data underscores the significant role of squirrel-cage induction motors in various industries and regions worldwide.
| Report Metric | Details |
| Report Name | Squirrel-cage Induction Motor Market |
| Accounted market size in 2023 | US$ 13940 in million |
| Forecasted market size in 2030 | US$ 17540 million |
| CAGR | 3.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| 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 |
