Global Induction Motor Market is Estimated to Reach $15,810.3 Million by 2019 – A Report by MicroMarket Monitor
(PRWEB) April 02, 2015 -- The Global Induction Motor market report defines and segments the concerned market for Induction Motors with analysis and forecast of revenue. The Global Induction Motor market is estimated to grow from $8,805.5 million in 2014 to $15,810.3 million by 2019, at a CAGR of 12.4% from 2014 to 2019.
Browse through the TOC of Global Induction Motor market for an analysis of industry trends, segments & forecasts.
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Induction Motors are simple and rugged in construction. Advantages of induction motors include their robustness and suitability for operation in any environmental condition. Nearly 70% of the machines used in industries use induction motors.
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The Global Induction Motor market, by application, was led by the industrial sector in 2014, with a share of 50.8%. It is projected to reach a volume of $7,604.9 million by 2019, at a CAGR of 11.2% during the forecast period. The residential application market is estimated to grow at the highest CAGR of 15.2% till 2019.
Asia-Pacific is the leading market for induction motors globally with a market share of 40% in 2014. It is also the fastest-growing market with a CAGR of 12.9% from 2014 to 2019 among the four regions covered in the report, which are North America, Asia-Pacific, Europe, and Rest of the World. The global induction motor market is also segmented on the basis of type and applications.
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The report includes market share and value chain analyses, along with market metrics, such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key market players in the global induction motor market.
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