Global Induction Motor Market Size Anticipated to Reach USD 42.9 Billion by 2033 - IMARC Group

November 21, 2024 | Heavy Industry

Global Induction Motor Market Statistics, Outlook and Regional Analysis 2025-2033

The global induction motor market size was valued at USD 23.4 Billion in 2024, and it is expected to reach USD 42.9 Billion by 2033, exhibiting a growth rate (CAGR) of 6.87% from 2025 to 2033.

Induction Motor Market

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The rising demand for energy-efficient solutions due to the implementation of stringent environmental regulations represents one of the key factors impelling the market growth. Induction motors, known for their efficiency and lower power usage, align well with these needs, encouraging their adoption in various industries. Besides this, the move toward industrial automation in manufacturing and other sectors is driving the demand for reliable and efficient motor systems, with induction motors being a preferred choice for their durability and minimal maintenance requirements. In addition, the integration of advanced technologies like the Internet of Things (IoT) and smart monitoring in induction motors is enhancing their operational capabilities. These improvements support predictive maintenance and efficient energy management. Moreover, the rising use of heating, ventilation, and air conditioning (HVAC) systems in residential, commercial, and industrial spaces is driving the need for induction motors, which are widely utilized in these systems on account of their efficiency and reliability.

Apart from this, the shift toward electric mobility is encouraging the use of induction motors, which play a crucial role in electric vehicle (EV) powertrains. Their ability to offer robust performance and energy savings makes them ideal for automotive applications. For instance, in 2024, Tata Motors launched the Ace EV 1000 in India, featuring an AC induction motor producing 36 bhp and 130 Nm of torque. This new model, designed for enhanced cargo capacity and efficiency, supports both slow and fast charging options. The induction motor highlights its use in electric commercial vehicles for reliable performance. Additionally, in 2024, Cadillac introduced the electric sports utility vehicle (SUV) Optiq in the US, featuring a powertrain with a permanent magnet synchronous motor at the front and an induction motor at the rear producing 224 kW (305 PS) and 480 Nm of torque. This also highlights the continued use of induction motors for improved performance in EVs.

Global Induction Motor Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. According to the report, Asia Pacific accounted for the largest market share on account of continuous technological advancements and increasing usage in various industries like manufacturing and automotive.

North America Induction Motor Market Trends:

North America's induction motor market is growing because of the high adoption of advanced technologies and strong emphasis on energy efficiency. The region benefits from established industries, such as automotive, aerospace, and HVAC, which consistently require reliable motor solutions. Regulatory standards promoting energy conservation are further encouraging the use of energy-efficient induction motors.

Asia-Pacific Induction Motor Market Trends:

Asia Pacific holds the biggest share in the market, driven by strong demand for induction motors from key industries, such as manufacturing, automotive, and consumer electronics. The focus of the region on enhancing energy efficiency and productivity is encouraging the adoption of high-performance motors. Government initiatives promoting sustainable practices and energy conservation are also supporting the market growth. A well-established manufacturing base, coupled with ongoing technological advancements, reinforces the leadership of Asia Pacific in the market. Additionally, the growing demand for induction motors in applications, such as HVAC systems, heavy machinery, and consumer appliances is offering a favorable market outlook. In 2024, Zeekr launched its new 001 model in China, featuring a 310 kW permanent magnet motor at the rear and a 270 kW asynchronous induction motor at the front. This dual-motor setup enhances energy efficiency in low-speed driving and enables acceleration to 100 km/h in 3.3 seconds.

Europe Induction Motor Market Trends:

Europe is a key player in the induction motor market because of a focus on sustainable and eco-friendly technologies. The well-established industrial base and commitment to reducing carbon emissions are encouraging the adoption of high-efficiency motors. Continuous advancements in motor technology and adherence to stringent environmental regulations ensure the region remains competitive.

Middle East and Africa Induction Motor Market Trends:

The market in the Middle East and Africa is growing because of the rising need for reliable power solutions to support both industrial and commercial sectors. The adoption of induction motors in the region is supported by ongoing initiatives to modernize industrial operations and improve energy management practices.

Latin America Induction Motor Market Trends:

Latin America's market is supported by key industries, such as mining, oil and gas, and manufacturing. The push for operational efficiency and cost savings is encouraging the use of energy-efficient motors across different sectors. The focus of the region on modernizing industrial equipment and improving energy use is supporting the market growth.

Top Companies Leading in the Induction Motor Industry

Some of the leading induction motor market companies include ABB, Ametek, Emerson Electric, Siemens AG, WEG, Brook Crompton, Danaher Corporation, Johnson Electric Holdings, and Regal Beloit, among many others. In 2024, ABB highlighted its advanced solutions for the mining industry at MINExpo, showcasing products like the Baldor-Reliance SP4 severe-duty motor, which features a standard AC induction motor design with high efficiency. This motor meets NEMA Super Premium® efficiency standards, running cooler and reducing energy losses while extending component life.

Global Induction Motor Market Segmentation Coverage

On the basis of the product type, the market has been bifurcated into single phase induction motors and three phase induction motors, wherein three phase induction motors represent the leading segment. Three-phase induction motors hold the biggest market share because of its robust performance, higher efficiency, and wide applicability in industrial settings. These motors are preferred for heavy-duty applications in manufacturing, construction, and automotive industries because of their reliable operation and ability to handle notable power loads. The segment's dominance is further strengthened by the rising trend of automation in industries and the push for energy-efficient solutions.
Based on the end-use sector, the market is classified into industrial, commercial, and residential, amongst which industrial dominates the market. Industrial holds the biggest market share because of the extensive use of these motors in various manufacturing processes, machinery, and industrial automation systems. Industries, such as automotive, chemical, food and beverage (F&B), and mining, heavily rely on induction motors for their durability and capability to support high-load operations. The growing adoption of automated systems and energy-efficient solutions is driving the demand for industrial-grade induction motors.

Report Features	Details
Market Size in 2024	USD 23.4 Billion
Market Forecast in 2033	USD 42.9 Billion
Market Growth Rate (2025-2033)	6.87%
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Product Type End-Use Sector Region
Product Types Covered	Single Phase Induction Motor, Three Phase Induction Motor
End-Use Sectors Covered	Industrial, Commercial, Residential
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	ABB, Ametek, Emerson Electric, Siemens, WEG, Brook Crompton, Danaher Corporation, Johnson Electric Holdings, Regal Beloit, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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