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    Induction Motors Market

    ID: MRFR/E&P/1072-HCR
    188 Pages
    Priya Nagrale
    October 2025

    Induction Motors Market Research Report Information By Product Type (Synchronous Motors, Asynchronous Motors, Direct Current Motors And Others), By Type (IE1, IE2, IE3, IE4), By Application (Pumps, HVAC Fans, Material Processing, Compressed Air, Material Handling And Others), By End-use (Residential, Industrial, Agricultural Sector, Transportation And Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2035

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    Induction Motors Market Summary

    As per Market Research Future Analysis, the Global Induction Motors Market was valued at USD 23.65 Billion in 2024 and is projected to grow to USD 56.92 Billion by 2035, with a CAGR of 8.31% from 2025 to 2035. Key drivers include the rising automobile manufacturing, particularly electric vehicles, and increasing industrial applications. The market is significantly influenced by government investments in electric vehicle technology and the growing demand for efficient motors in various industrial sectors.

    Key Market Trends & Highlights

    The induction motors market is witnessing significant growth driven by technological advancements and industrial demand.

    • Electric vehicle production is rapidly increasing, enhancing the demand for induction motors, particularly three-phase types.
    • The industrial segment is expected to hold the largest market share due to the reliability and cost-effectiveness of induction motors.
    • North America is projected to dominate the market, driven by investments in the vehicle industry and increased EV sales.
    • The HVAC fans segment led the market in 2022, highlighting the importance of induction motors in air management systems.

    Market Size & Forecast

    2024 Market Size USD 23.65 Billion
    2035 Market Size USD 56.92 Billion
    CAGR (2024-2035) 8.31%

    Major Players

    Key players include Schneider Electric SE, Marathon Electric, Kirloskar Electric Company, Siemens AG, and Baldor Electric Company.

    Induction Motors Market Trends

    Increased production of electric vehicles drives market growth.

    The market for electric cars has quickly developed due to continual advancements in the automotive industry and advantageous government policies and support in the form of grants, subsidies, and tax breaks. Induction motors, particularly three-phase induction motors, are frequently used in electric vehicles due to their high efficiency, good speed regulation, and lack of commutators, which is considered to be a key factor in the market's growth. 

    Additionally, in electric cars, these motors can be used in place of permanent magnets. Thus, it is predicted that increased manufacturing of electric vehicles will propel the market CAGR for induction motors.

    Additionally, the governments of numerous nations have made significant investments in the advancement of electric automobiles. The German government has promised to invest more than $3 billion in the region's electric vehicle sector in 2019. Therefore, throughout the projection period of 2022–2032, these investments and innovations are considered to be the primary drivers of the growth of the electric vehicle market and, consequently, the growth of the induction motor market.

    Another factor drives induction motors. Induction motors are used in a wide range of industrial applications that are critical to the business's efficiency. These motors are frequently utilised as a component of pumps, hoists, lifts, electric shavers, cranes, crushers, and other oil extraction apparatus because they are inexpensive, durable, maintenance-free, and operable in any environment. The need for induction motors is expected to rise further as manufacturing and industrial activities expand.

    According to the United Nations Industrial Development Organisation (UNIDO), the world's manufacturing sector increased output by 4.2 percent in the first quarter of 2022. In October 2022, industrial production in the United States increased 3.3% year on year, following a 2.4% gain in manufacturing. Rising industrial and manufacturing output would enhance demand for induction motors, boosting overall market growth during the anticipated period.

    The global induction motors market is poised for growth, driven by increasing demand for energy-efficient solutions across various industrial applications.

    U.S. Department of Energy

    Induction Motors Market Drivers

    Market Growth Projections

    The Global Induction Motors Market Industry is projected to experience substantial growth in the coming years. With a market value of 23.6 USD Billion in 2024, it is expected to reach 56.9 USD Billion by 2035, reflecting a robust CAGR of 8.31% from 2025 to 2035. This growth trajectory indicates a strong demand for induction motors across various sectors, driven by factors such as energy efficiency, technological advancements, and industrial automation. The increasing focus on sustainability and the transition to renewable energy sources are likely to further propel market expansion, making it a dynamic and evolving industry.

    Technological Advancements

    Technological innovations are playing a pivotal role in shaping the Global Induction Motors Market Industry. The integration of smart technologies, such as IoT and advanced control systems, is enhancing the performance and reliability of induction motors. These advancements enable real-time monitoring and predictive maintenance, which can lead to reduced downtime and increased efficiency. As industries increasingly adopt automation and smart manufacturing practices, the demand for technologically advanced induction motors is expected to rise. This evolution not only improves operational efficiency but also aligns with the broader trend of digital transformation across various sectors.

    Growth in Industrial Automation

    The Global Induction Motors Market Industry is significantly influenced by the ongoing growth in industrial automation. As manufacturers seek to enhance productivity and reduce labor costs, the adoption of automated systems is becoming more prevalent. Induction motors, being integral components in automated machinery, are witnessing increased demand. Industries such as automotive, food and beverage, and pharmaceuticals are particularly driving this trend. The market is anticipated to grow from 23.6 USD Billion in 2024 to an estimated 56.9 USD Billion by 2035, with a CAGR of 8.31% from 2025 to 2035, indicating a robust expansion fueled by automation initiatives.

    Emerging Markets and Urbanization

    Emerging markets and rapid urbanization are driving the Global Induction Motors Market Industry forward. As developing countries industrialize, the demand for induction motors is expected to rise significantly. Urbanization leads to increased infrastructure development, which in turn necessitates efficient motor solutions for construction, transportation, and utilities. Countries in Asia-Pacific and Latin America are particularly poised for growth, as they invest in modernization and energy-efficient technologies. This trend is likely to create new opportunities for manufacturers and suppliers in the induction motors sector, further expanding the market landscape.

    Rising Demand for Energy Efficiency

    The Global Induction Motors Market Industry is experiencing a surge in demand for energy-efficient solutions. As industries strive to reduce operational costs and comply with stringent environmental regulations, induction motors, known for their efficiency, are increasingly favored. In 2024, the market is projected to reach 23.6 USD Billion, reflecting a growing preference for technologies that minimize energy consumption. This trend is particularly evident in sectors such as manufacturing and HVAC, where energy costs constitute a significant portion of operational expenses. The shift towards sustainable practices is likely to drive further adoption of induction motors, enhancing their market presence.

    Expansion of Renewable Energy Sector

    The expansion of the renewable energy sector is contributing to the growth of the Global Induction Motors Market Industry. As the world shifts towards sustainable energy sources, induction motors are increasingly utilized in wind turbines and solar energy applications. Their reliability and efficiency make them suitable for these applications, where performance is critical. The increasing investments in renewable energy infrastructure are likely to bolster the demand for induction motors, as they play a crucial role in converting renewable energy into usable power. This trend aligns with global efforts to reduce carbon emissions and transition to cleaner energy sources.

    Market Segment Insights

    Induction Motors Product Type Insights

    The Induction Motors Market segmentation, based on type includes synchronous motors, asynchronous motors, direct current motors and others. Synchronous motors category had a significant market share. A synchronous electric motor is an AC motor in which the rotation of the shaft is precisely equal to an integral number of AC cycles during steady state and the frequency of the supply current. Electromagnets are used as the motor's stator in synchronous motors, and they produce a magnetic field that rotates in time with the current oscillations.

    Induction Motors Type Insights

    The Induction Motors Market segmentation, based on type, includes IE1, IE2, IE3, and IE4. The IE1 category hold the largest market share. The international efficiency standard classifies IE1 motors. The IE1 motors have outputs ranging from 0.75kW to 355kW. The IE1 motors have poles 2, 4, 6, 8, 10, and 12. The IE1 motors have a speed range of 500rpm to 3600rpm. The efficiency of IE1 motors is 40% higher than that of IE3 motors and 20% higher than that of IE2 motors. IE1 motors are typically developed and built to operate for more than 6000 hours per year.

    Induction Motors Application Insights

    The Induction Motors Market segmentation, based on application, includes pumps, HVAC fans, material processing, compressed air, material handling and others. In 2022 HVAC fans segment dominated the Induction Motors market, HVAC fans are used to move air through heating, ventilation, and air conditioning (HVAC) systems. 

    They are an essential component of air management systems that bring or draw fresh air into buildings. HVAC fans can be positioned on an outside wall (ventilation unit) or above the ceiling (plenum fan), or they can be utilised as part of a ducted system (duct fan). An electric motor turns the fan or blower, providing unidirectional air flow. Often, the air is pre-heated or chilled.

    Figure1: Induction Motors Market, by Application, 2022 & 2032 (USD Billion)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Induction Motors End-Use Insights

    The Induction Motors Market segmentation, based on end-use, includes residential, industrial, agricultural sector, transportation and others. In 2022, the industrial segment is predicted to hold the largest market share. Because of their low cost and dependability, three-phase induction motors are extensively utilised in industrial applications. The motor is used in industrial applications for very high inertia loads where it is important to provide maximum torque at a low speed and accelerate to full speed with minimal current.

    Get more detailed insights about Global Induction Motors Market Research Report - Forecast to 2032

    Regional Insights

    By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Induction Motors Market area will dominate this market, due to increasing investment by market players and increased production in the vehicle industry. The use of induction motors in the vehicle industry has expanded as EV sales in the North American region have increased, which will improve the regional market.

    Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

    Figure2: Induction Motors Market Share By Region 2022 (Usd Billion)

    Induction Motors Market Share By Region 2022

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Europe Induction Motors Market accounts for the second-largest market share due to an increase in investment to automate various processing steps in many industries. Further, the German Induction Motors Market held the largest market share, and the UK Induction Motors Market was the fastest-growing market in the European region

    The Asia-Pacific Induction Motors Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing industrial sectors in this region, Moreover, China’s Induction Motors Market held the largest market share, and the Indian Induction Motors Market was the fastest-growing market in the Asia-Pacific region.

    Key Players and Competitive Insights

    Leading market players are extensively investing in research and development to extend their product lines, which will help the Induction Motors Market grow even further. Market participants are also engaging in a number of strategic initiatives to grow their worldwide footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organisations. To expand and survive in a more competitive and rising market climate, the Induction Motors industry must provide cost-effective products.

    Manufacturing locally to reduce operational costs is one of the primary business strategies employed by manufacturers in the worldwide Induction Motors industry to serve clients and expand the market sector. Induction Motors have recently provided some of the most significant benefits to medicine. 

    Major players in the Induction Motors Market, such as Schneider Electric SE Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company, among others, are seeking to enhance market demand by investing in research and development operations.

    The General Motors Company (GM) is an American multinational automobile manufacturer headquartered in Detroit, Michigan. It was the largest carmaker in the United States by sales in 2022, and the largest in the world for 77 years before relinquishing the top rank to Toyota in 2008. General Motors has manufacturing units in eight different nations. Chevrolet, Buick, GMC, and Cadillac are its four primary automotive brands. 

    It also has a stake in the Chinese brands Baojun and Wuling through SAIC-GM-Wuling Automobile. In September 2021, The General Motors Company announced three new motors meant to power its Ultium-based EVs. The Ultium Drive package includes a 255-kW rear- and front-drive motor, a 180-kW front-drive motor, and a 62-kW all-wheel drive assist motor, with the latter being an induction motor.

    Havells India Limited is a Indian electrical equipment business headquartered in Noida. It was started by Haveli Ram Gandhi and then sold to his distributor, Qimat Rai Gupta. Home appliances, lighting for domestic, commercial, and industrial applications, LED lighting, fans, water heaters, industrial and domestic circuit protection switchgear, modular switches and wiring accessories, industrial and domestic cables and wires, induction motors, and capacitors are some of the products manufactured by the company. 

    Havells owns the Havells, Lloyd, Crabtree, Standard Electric, Reo, and Promptec brands. In March 2022,  Havells India has introduced 19 new energy-efficient ECOACTIV fans in the pedestal, ceiling, wall, and ventilation fan categories. The redesigned fan component includes an ECOACTIV extremely efficient BLDC and induction motor.

    Key Companies in the Induction Motors Market market include

    Industry Developments

    In June 2021,The European Union introduced new regulations to improve the energy efficiency of electric motors. The new guidelines, which apply to AC induction motors, amend the previous regulation from 2009 and include motors with power ratings ranging from 0.12 kW to 1000 kW.

    In June 2022,Nidec Corporation introduced SynRA (Synchronous Reluctance Motor with Aluminium Cage Rotor), a high-efficiency synchronous reluctance (SR) motor with an aluminium cage that combines an SR motor with the basic principles of a cage-type induction motor, for the US market. When activated, Nidec's SynRA rotates as an induction motor, produces less loss, and achieves higher efficiency than cage-type induction motors.

    In June 2023,ABB has developed the new generation AMI 5800 NEMA modular induction motor to offer exceptional energy efficiency and reliability in demanding applications such as pumps, compressors, fans, extruders, conveyors and crushers. the AMI 5800 offers the capability for a high degree of modularity and customization to suit both new build and upgrade projects in a wide range of industries including chemical oil and gas.The AMI 5800 motor is a true NEMA design that builds on ABB’s technology leadership in the North American market to meet both electrical performance requirements and mechanical mounting standards. 

    In July 2023,The US motor-maker Ideal Electric has acquired the Louis Allis Large Synchronous Machines and Louis Allis Large Induction Motors product lines of the former Louis Allis Company of Milwaukee, Wisconsin. The financial terms of the deal have not been disclosed.

    February 2024

    World-first liquid-cooled IE5 SynRM induction motor from ABB establishes energy efficiency and power output standards.

    ABB launched a new version of its IE5 SynRM (synchronous reluctance motor) series that combines ultra-high energy efficiency with liquid cooling, a global first. The innovative design redefines great power and dependability in a small package.

    In new projects or as drop-in replacements for less efficient motors, IE5 SynRM Liquid-cooled motors may reduce energy expenditures and emissions. They fit maritime propulsion, rubber and plastics, and food and beverage sectors.

    The IE5 SynRM Liquid-cooled motors are more efficient than conventional liquid-cooled induction motors and give room for energy-saving technologies. The cost of energy to power an electric motor during its life accounts for 97% of its total cost of ownership (TCO), with the purchase cost accounting for 2%. Energy efficiency is key to optimizing TCO. Common IE3 motors lose 40% more energy than IE5 motors. Selecting an IE5 motor over an IE3 motor frequently pays for itself in less than a year.

    Highly efficient cooling, the cool SynRM rotor, and cooling ribs on the bearing assembly lower bearing operating temperatures, improving reliability. This extends the life of this crucial component and reduces maintenance.

    With tight seals and a smooth exterior, the motors are durable. This makes them ideal for maritime propulsion systems and thrusters that need great power density in a small size. Since the motors don't require fans or ventilation, they don't disrupt the air or emit heat. Airflow-sensitive operations like rubber and plastics manufacture and chocolate conche machines benefit greatly from this. Motors without fans reduce noise, improving the workplace.

    Stefan Floeck, ABB Division President IEC Low Voltage Motors, says: “ABB pioneered SynRM technology and liquid cooling for induction motors. After combining them, our IE5 SynRM Liquid-cooled motor gives clients ultra-premium efficiency in more applications. We launched our IE5 SynRM Increased Safety motor for hazardous places, and this is another world-first for this series.”

    Future Outlook

    Induction Motors Market Future Outlook

    The Global Induction Motors Market is projected to grow at 8.31% CAGR from 2025 to 2035, driven by advancements in automation, energy efficiency demands, and industrial expansion.

    New opportunities lie in:

    • Invest in smart induction motor technologies to enhance energy efficiency and reduce operational costs.
    • Develop customized solutions for renewable energy applications to capture emerging market segments.
    • Leverage IoT integration for predictive maintenance services, improving reliability and customer satisfaction.

    By 2035, the market is expected to achieve robust growth, positioning itself as a leader in industrial motor solutions.

    Market Segmentation

    Induction Motors Regional Outlook

    North America
    • US
    • Canada
    Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    Rest of the World
    • Middle East
    • Africa
    • Latin America

    Induction Motors Market by Type Outlook

    • IE1
    • IE2
    • IE3
    • IE4

     Induction Motors Market by End-Use Outlook

    • Residential
    • Industrial
    • Agricultural sector
    • Transportation
    • Others

    Induction Motors Market by Product Type Outlook

    • Synchronous motors
    • Asynchronous motors
    • Direct current motors
    • Others

     Induction Motors Market by Application Outlook

    • Pumps
    • HVAC Fans
    • Material processing
    • Compressed air
    • Material handling
    • Others

    Report Scope

    Attribute/Metric Details
    Market Size 2024 USD 23.65 Billion
    Market Size 2035 56.92 (Value (USD Billion))
    Compound Annual Growth Rate (CAGR) 8.31% (2025 - 2035)
    Base Year 2024
    Market Forecast Period 2025 - 2035
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Product, Type, Application, End-Use and Region
    Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
    Countries Covered The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled  Emerson Electric Company, Regal Beloit Corporation ABB Ltd. Schneider Electric SE Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company.
    Key Market Opportunities High demand and output pace.
    Key Market Dynamics Dependable and minimal post-purchase maintenance costs.
    Market Size 2025 25.62 (Value (USD Billion))

    Market Highlights

    Author
    Priya Nagrale
    Senior Research Analyst

    With an experience of over five years in market research industry (Chemicals & Materials domain), I gather and analyze market data from diverse sources to produce results, which are then presented back to a client. Also, provide recommendations based on the findings. As a Senior Research Analyst, I perform quality checks (QC) for market estimations, QC for reports, and handle queries and work extensively on client customizations. Also, handle the responsibilities of client proposals, report planning, report finalization, and execution

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    FAQs

    How much is the Induction Motors Market?

    The Induction Motors Market size was valued at USD 21.6 Billion in 2023.

    What is the growth rate of the Induction Motors Market?

    The market is projected to grow at a CAGR of 8.31% during the forecast period, 2024-2032.

    Which region held the largest market share in the Induction Motors Market?

    North America had the largest share of the market

    Who are the key players in the Induction Motors Market?

    The key players in the market are Schneider Electric SE Marathon Electric, Kirloskar Electric Company Siemens AG, and Baldor Electric Company.

    Which application led the Induction Motors Market?

    The HVAC fans category dominated the market in 2022.

    Which type had the largest market share in the Induction Motors Market?

    The IE1 had the largest share of the market.

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