Induction Motor Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers High-Speed Motor Manufacturers and it is segmented by Type (Single-phase Induction Motor and Three-phase Induction Motor), Application (Residential, Commercial, and Industrial), and Geography.

Induction Motor Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Induction Motor Market Size

Induction Motor Market Size
Study Period 2019 - 2030
Market Size (2025) USD 22.10 Billion
Market Size (2030) USD 29.75 Billion
CAGR (2025 - 2030) 6.12 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Induction Motor Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Induction Motor Market Analysis

The Induction Motor Market size is estimated at USD 22.10 billion in 2025, and is expected to reach USD 29.75 billion by 2030, at a CAGR of 6.12% during the forecast period (2025-2030).

Due to the absence of slip rings, commuters, and brushes, the induction motors are nearly maintenance-free or require low maintenance, which is among the major driving factors behind the growth in demand for these motors.

  • An induction motor is an AC electric motor in which torque is produced by the reaction between a varying magnetic field generated in the stator and the current induced in the coils of the rotor. It is used in most machinery as it is more powerful and eco-friendly than conventional motors. Unique robustness makes it a suitable choice for automotive and manufacturing applications, as it requires less maintenance. Its ability to work under varying climatic conditions is another major factor driving its demand.
  • The rising focus on reducing greenhouse gas emissions and the demand for products that consume less energy are the major factors for the growth of electric cars. According to the International Energy Agency (IEA), the global sales of electric vehicles have been rising strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021. The growth of the EV industry is expected to drive the demand for induction motors, as these motors are widely used by electric vehicle (EV) manufacturers, owing to their robust, reliable, and low maintenance features.
  • The increasing demand for electrical energy to sustain global development requires consistent heavy investments in power supply generation that have driven induction motors' application in the electricity sector.
  • Furthermore, some of the most significant opportunities to save energy and reduce operating costs in buildings and industrial facilities come from optimizing electric motor systems. According to the US Department of Energy, about half of all electricity consumed in the United States flows through motors, 90% of which are alternating-current (AC) induction motors. The study indicated that a 5% improvement in the overall efficiency of the induction motor would save enough energy comparable to energy produced by the new power plant of a few hundred megawatts.
  • However, research on developing alternative technology for induction motors is the major bottleneck for its growth. For instance, Tesla has developed and switched to a synchronous reluctance motor in Model 3, which has significantly boosted the range. The company is also working on replacing the induction motors in their Model S and X with this new motor.
  • The outbreak of COVID-19 has negatively impacted the market growth, mainly due to the stoppage in discrete manufacturing industry operations. For instance, according to the Monthly Survey of Manufacturing, 2021 by the Government of Canada, Manufacturing sales fell 2.1% to USD 57.1 billion in April 2021 on lower sales in 11 of 21 industries. Also, the outbreak of COVID-19 has affected the production facilities of automotive sectors across the globe, which has significantly impacted the growth of the studied market.

Induction Motor Industry Overview

The induction motor market is competitive and dominated by a few major players, like Rockwell Automation Inc., ABB Ltd, Siemens AG, WEG Electric Corporation, and Nidec Motor Corporation. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives to increase their market shares and profitability. However, with technological advancements and product innovations, mid-size to smaller companies are growing their market presence by securing new contracts and tapping new markets.

  • June 2022 - Nidec Corporation launched SynRA (Synchronous Reluctance Motor with Aluminum Cage Rotor), an aluminum cage-equipped, high-efficiency synchronous reluctance (SR) motor that combines an SR motor with the cage-type induction motor's basic principles, for the US market. Nidec's SynRA rotates as an induction motor when activated, produces less loss, and achieves higher efficiency than the cage-type induction motor.
  • March 2022 - Havells India unveiled its range of energy-efficient ECOACTIV fans by launching 19 new models under the pedestal, ceiling, wall, and ventilator fan category. The new content of fans comes equipped with ECOACTIV super efficient BLDC and induction motor.

Induction Motor Market Leaders

  1. ABB Ltd

  2. Siemens AG

  3. WEG Electric Corp.

  4. Rockwell Automation Inc.

  5. Nidec Motor Corporation

  6. *Disclaimer: Major Players sorted in no particular order
ABB Ltd, Siemens AG, WEG Electric Corp., Rockwell Automation Inc., Nidec Motor Corporation
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Induction Motor Market News

  • September 2021 - GM group unveiled three new motors designed to power its Ultium-based EVs. The 255-kW rear- and front-drive motor, 180-kilowatt front-drive motor, and 62-kW all-wheel drive assist motor is part of the Ultium Drive package, wherein the 62-kW unit is an induction motor.
  • June 2021 - The European Union launched new rules to boost the energy efficiency of electric motors. Applicable to AC induction motors, the new rules update the previous regulation from 2009 and have a significantly broader scope, covering motors with a power range from 0.12 kW to 1000 kW.

Induction Motor Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Inductry Value Chian/Supply Chain Analysis
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Assessment of COVID-19 Impact on the Industry

5. MARKET DRIVERS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Application in Electric Vehicles
    • 5.1.2 Elevated Requirement of Power Savings in Residential and Industrial Sectors
  • 5.2 Market Restraints
    • 5.2.1 R&D of Alternative Technology

6. MARKET SEGMENTATION

  • 6.1 By Type
    • 6.1.1 Single-phase Induction Motor
    • 6.1.2 Three-phase Induction Motor
  • 6.2 By Application
    • 6.2.1 Residential
    • 6.2.2 Commercial
    • 6.2.3 Industrial
  • 6.3 By Geography
    • 6.3.1 North America
    • 6.3.1.1 United States
    • 6.3.1.2 Canada
    • 6.3.2 Europe
    • 6.3.2.1 Germany
    • 6.3.2.2 France
    • 6.3.2.3 United Kingdom
    • 6.3.2.4 Rest of Europe
    • 6.3.3 Asia-Pacific
    • 6.3.3.1 China
    • 6.3.3.2 Japan
    • 6.3.3.3 India
    • 6.3.3.4 Rest of Asia-Pacific
    • 6.3.4 Latin America
    • 6.3.5 Middle-East and Africa

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Rockwell Automation Inc.
    • 7.1.2 Nidec Motor Corporation
    • 7.1.3 ABB Ltd
    • 7.1.4 Siemens AG
    • 7.1.5 WEG Electric Corp.
    • 7.1.6 Regal Beloit Corporation
    • 7.1.7 Baldor Electric Company
    • 7.1.8 Emerson Electric Co.
    • 7.1.9 Schneider Electric SE
    • 7.1.10 Marathon Electric
    • 7.1.11 Kirloskar Electric Company
    • 7.1.12 CG (Comton & Greaves)
    • 7.1.13 ThomasNet
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Induction Motor Industry Segmentation

An induction motor is an AC electric motor in which torque is produced by the reaction between a varying magnetic field generated in the stator and the current induced in the coils of the rotor. It is used in most machinery, as it is more powerful and eco-friendly than conventional motors in the market.

The scope of the induction motor market study includes the type (single-phase induction motor and three-phase induction motor) and products that are offered by the major vendors for a wide range of industrial and residential applications.

By Type Single-phase Induction Motor
Three-phase Induction Motor
By Application Residential
Commercial
Industrial
By Geography North America United States
Canada
Europe Germany
France
United Kingdom
Rest of Europe
Asia-Pacific China
Japan
India
Rest of Asia-Pacific
Latin America
Middle-East and Africa
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Induction Motor Market Research FAQs

How big is the Induction Motor Market?

The Induction Motor Market size is expected to reach USD 22.10 billion in 2025 and grow at a CAGR of 6.12% to reach USD 29.75 billion by 2030.

What is the current Induction Motor Market size?

In 2025, the Induction Motor Market size is expected to reach USD 22.10 billion.

Who are the key players in Induction Motor Market?

ABB Ltd, Siemens AG, WEG Electric Corp., Rockwell Automation Inc. and Nidec Motor Corporation are the major companies operating in the Induction Motor Market.

Which is the fastest growing region in Induction Motor Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Induction Motor Market?

In 2025, the North America accounts for the largest market share in Induction Motor Market.

What years does this Induction Motor Market cover, and what was the market size in 2024?

In 2024, the Induction Motor Market size was estimated at USD 20.75 billion. The report covers the Induction Motor Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Induction Motor Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Induction Motor Industry Report

Statistics for the 2025 Induction Motor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Induction Motor analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.