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North America Induction Motors Market Forecast 2019-2027

KEY FINDINGS
North America induction motor market finds its application in residential, commercial and industrial sectors. The induction market in the North America region is growing at a CAGR of 11.30% owing to the high mandate of smart homes coupled with home appliances in the region during the forecasting years of 2019-2027.

MARKET FINDINGS
The smart home penetration is increasing rapidly in the North America region. The smart homes that use home automation systems provide the potential for wide adoption of induction motors for automation processes. Likewise, increased investments is also driving the residential segment in the induction motor application market.
The key challenge that is hindering the market growth is the fluctuating cost of raw materials like silicon, aluminum, and steel which are the main components of the motor, thereby impacting the demand of the induction motor in the region.

COMPETITIVE INSIGHTS
Siemens AG, Oriental Motor Corporation, Regal Beloit Corporation, WEG Electric Corporation, ABB Ltd. (Asea Brown Boveri), Danaher Corporation ,MMC Electric Company Pvt. Ltd. (Dynaflux), Ametek Advanced Motion Solutions, Brook Crompton Company, General Electric Company, Kirloskar Electric Co. Ltd., Fuji Electric Co., Ltd., Rockwell Automation, Inc. and Johnson Electric are the major companies in mentioned in the report.

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North America Induction Motors Market Forecast 2019-2027
Published By :Inkwood Research
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