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Asia Pacific Induction Motors Market Forecast 2019-2027

Asia-Pacific induction motor market finds its application in commercial, industrial and residential segments. The regional market in Asia-Pacific is growing with a CAGR of 12.26% in forecast period 2019-2027 owing to the increase in adoption of consumer electronics.

The government initiatives in the Asia-Pacific region is helping the induction market to grow. The initiatives such as Make in India and Make in China are targeting industrial equipment and automation which is increasing the implementation of induction motors. Likewise, the demand for electric vehicles and other government initiatives for minimizing the greenhouse gas emissions is also driving the Asia Pacific induction motor market in the region.
However, the challenge that is looming over the market is the fluctuation of raw materials used for the production of induction motor which is hampering the growth of the market through the forecast period. Also, cutting down the cost of raw materials by the new entrants in the market space can put the overall cost to risk which would be precarious for the market in this region.

Fuji Electric Co., Ltd., General Electric Company, Kirloskar Electric Co. Ltd., Regal Beloit Corporation, Rockwell Automation, Inc., WEG Electric Corporation, ABB Ltd. (Asea Brown Bover), MMC Electric Company Pvt. Ltd. (Dynaflux), Oriental Motor Corporation, Johnson Electric, Siemens AG, Brook Crompton Company, Nidec Motor Corporation, Danaher Corporation, and Ametek Advanced Motion Solutions are the major market players that have been mentioned in the report.
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Asia Pacific Induction Motors Market Forecast 2019-2027
Published By :Inkwood Research
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