Global Induction Motor Market Forecasted to Grow at a CAGR of 12.35% Through 2019
Fast Market Research announces the availability of the new TechNavio report, "Global Induction Motor Market 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWire) -- 08/18/2015 --The invention of motors or more precisely, electric motors, is one of the major achievements in the field of technology and engineering. The advent of motors helped the world move from being manual to a highly mechanized one. Since then the world has come a long way from utilizing electric power to glow bulbs to converting electrical energy to run various mechanical machinery.
An electric motor is an electro-mechanical device that converts electrical energy to mechanical energy.
Technavio's analysts forecast the global induction motor market to grow at a CAGR of 12.35% over the period 2015-2019.
Get More Details on this Report and a Full Table of Contents at Global Induction Motor Market 2015-2019
Commenting on the report, an analyst from Technavio's team said, "One major trend in this market is adoption of Energy-efficient Motors. Stringent electricity consumption standards and the increasing price of electricity are fostering the increasing demand for energy-efficient electric induction motors globally. Vendors all across the world are also facing the implementation of various design and manufacturing standards and regulations on the manufacture of energy-efficient induction electric motors. "
According to the report, one key driver of this market is the increased need for energy efficiency. Energy management is considered to be one of most effective methods to reduce the energy usage in the residential sector. There are various processes involved in HEM, including recording, normalizing, analyzing, targeting, monitoring, reporting, and controlling.
Further, the report states that one of the major challenges is highly fragmented market. The market is highly fragmented, with intense rivalry among local and international vendors. Many major vendors are finding it hard to contend with low-cost manufacturers from China. The low entry barrier has made the market even more competitive.
The key players in the Global Induction Motor Market are ABB , Ametek, Emerson Electric, Siemens, WEG while other prominent vendors include Baldor Electric , Brook Crompton UK, Danaher Motion, Faulhaber Group, Johnson Electric Holdings, Maxon Motor, Regal Beloit, Siemens.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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