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