- The key vendors in the global induction motor market 2015-2019 are ABB Ltd., Ametek Inc., Emerson Electric, Faulhaber Group, Siemens AG, and WEG
London, 4 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global induction motor market 2015-2019. Growing adoption of energy-efficient motors is a critical trend observed in this market. Stringent electricity consumption standards and the increasing price of electricity are some of the factors that necessitate the adoption of energy-efficient electric induction motors. This market is expected to grow at a CAGR of 12.35% during the forecast period of 2014-2019.
Growing adoption of induction vehicles and heating, ventilation, and air conditioning (HVAC) applications of such motors are expected to boost the prospects for growth in this market. The availability of integrated products and value-added services aid the companies in differentiating their products from other competitors. Also, the recovery of the global economy is expected to reinitiate expansion projects across all the major end-user industries; thus, creating growth opportunities for induction motor manufacturers.
“Carbon nanotube yarns though conventionally not in use are one of the most recent innovations to replace copper windings in induction motors that will help provide increased motor efficiency. The Lappeenranta University of Technology in Finland conducted a test using woven materials made of carbon nanotubes. The results showed that the carbon nanotubes had twice the conductivity of copper windings and could also reduce the losses,” says Faisal Ghaus, Vice President of Technavio Research.
“The use of carbon nanotube yarns will help in increasing the motor’s efficiency and will reduce energy consumption. Although the results are preliminary and are in the testing phase, more research and development will help in developing motors of high efficiency.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
