Market Trends of North America Induction Motor Industry
This section covers the major market trends shaping the North America Induction Motor Market according to our research experts:
Industrial Applications is Expected to Drive the Market
- Industrial applications use induction motors in a wide range of applications such as constructions, commercial, and more, as induction motors usually do not have brushes or slip rings, so maintenance is less frequent than DC or synchronous motors. Induction motors also work well in dusty environments that require regular cleaning for other motors to work properly. Due to the low complexity of induction motors, they are relatively cheaper than synchronous motors.
- Many industrial applications have different speed requirements for different loads. Induction motors are available at different speeds and torque levels, and the speed of induction motors is also very easy to control. On the other hand, the speed of the synchronous motor cannot be changed, and it always rotates at the synchronous speed. This makes induction motors the recommended choice for synchronous motors.
- According to the US Department of Energy. Electric motors in US industrial applications account for more than 60 percent of electricity use; even small efficiency improvements can make a big difference in energy savings. Two new induction motor technologies, such as copper rotor motors and motor controllers, are now available commercially and offer breakthrough efficiency and reliability opportunities for the industry.
- Organizations are also focused on innovating new motors or updating the existing ones as part of the business expansion. For instance, in March 2022, ABB updated much high dynamic performance (HDP) induction motors. This opens up new opportunities for mechanical engineering OEMs looking for motor and drive solutions with superior dynamics and high power densities.
- Similarly, in January 2022, Infinitium Electric announced its new product line specific for HVAC fans, pumps, and general purpose applications. The new product line is an expansion of Infinitum Electric's IEs Series motors. With the expansion of Canadian products, the company offers a comprehensive range of power and frame sizes for the North American HVAC market.
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Electric Vehicles are Anticipated to Gain Major Demand
- Electric Vehicles drive up a small percentage of the entire automotive market today. Still, as automakers expand their reach, performance, and style, and charging is faster and easier, EVs continue to grow in appeal.
- The US electric vehicle market grew from thousands since a decade to more than 315,000 a year to 2020. According to a survey conducted by International Council on Clean Transportation EVs in the North American states and cities is continuing to receive the strongest and broadest policy support also by the government in the region.
- In May 2022, Stellantis planned to spend USD 2.8 billion to increase the production of electric vehicles at two of its Canadian plants. The funding is a part of the USD 35.5 billion Stellantis dedicated to electric vehicles and new software over the next year in its push to move away from internal combustion engines and be carbon net-zero by 2038.
- Further, in June 2022, The Biden Harris administration has announced new steps to achieve President Biden's goal of building the first-ever national network of 500,000 electric vehicle chargers along American highways. In collaboration with the Ministry of Energy, the Ministry of Transport has set new standards for charging electric vehicles (EVs) to be convenient, reliable, and affordable for all Americans, even when driving long distances. These initiatives by the government will leverage the electric vehicles market, that in turn leverages the induction motors market in the region.
- In April 2022, Ford launched F-150 Lightning is the fastest accelerating F-150 ever and is the only fully electric pickup presently available with a starting price of less than USD 40,000. Ford offers F-150 Lightning owners an optional hands-free Blue Cruise driving experience on over 130,000 miles of pre-certified shared highways in the United States and Canada.
- Canada is working on the electrification of road vehicles as part of its national decarbonization strategy. But especially in commercial vehicles, stronger policies drive electrification and attract EV investment in other countries. Chrysler, Ford, General Motors, and Toyota's Ontario manufacturing plants are dominated by traditional internal combustion engine vehicles. All these factors leverage the induction motor market in the North American region.
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