North America Induction Motor Market Size

North America Induction Motor Market Analysis

The North America Induction Motor Market is expected to grow at a CAGR of 6.3% during the forecast period (2022 - 2027). The market growth for induction motors in North America is associated with an increase in induction motor applications in HVAC, automotive, consumer electronics, and industrial applications, partly due to their ability to generate constant torque up to rated speeds. Increasing applications and ongoing technology development in the manufacturing industry are key drivers of the region's induction motor market.

• North America has high demand and increased market share in the induction motor market due to the development of induction motors used in major industrial manufacturing, aerospace, defense, and automotive industries. In addition to the growing preference for electric vehicles in the United States, growth in North America is also inspiring.
• The legislative changes to electrify vehicles have probably hit the commercial vehicle industry the hardest. Electric power vehicles widely avoid induction machines due to their low peak efficiency and high volume and mass. In May 2022, Drive System Design (DSD) investigated the feasibility of high efficiency, high power output inducers as an alternative to the permanent magnet topology of future traction systems. Its research revealed that, contrary to popular opinion, commercial vehicles could be suited to induction machines (IM) that don't need to utilize rare earth materials.
• Induction motors are robust and can operate in all climatic conditions. In addition, induction motors are cost-effective, reliable, and require little maintenance. This is expected to drive the induction motor market growth during the forecast period. Further, in 2020, the University of Windsor was awarded USD 4.3 million for research on next-generation electric vehicles conducted in partnership with the Canadian automotive industry. This will leverage the induction motors market in the country.
• The most important advantage of induction motors is their very simple structure. However, there are a few challenges, such as achieving speed control for induction motors is very difficult. This is because the three-phase induction motor is a constant-speed motor, and the speed change of the motor is very small in the entire load range. Induction motors have a high input surge current known as magnetized inrush current. This will reduce the voltage when the engine starts.
• The outbreak of COVID-19 had a negative impact on the economy as many industries have been affected by the current situation and various sectors have ceased activity. However, the ongoing COVID-19 pandemic around the world confused the construction sector as many countries were blocked and temporarily suspended all non-essential activities to contain the spread. This has dropped the induction motor market in the region.