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Induction Motor Market Size is forecast to reach $54.2 billion by 2026, at a CAGR of 6.5% during 2021-2026. 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 a majority of machinery, as it is more powerful and eco-friendly compared to the conventional motors in the market. North America has significant share in global induction motor market due to a developed usage of an induction motor in the significant industrial manufacturing, aerospace & defense, and automotive companies. In addition to the growing preference for electric vehicles in the U.S. is also stimulating the growth in North America. Report Coverage The report: “Induction Motor Market Report– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Induction Motor market By Rotor Type: Inner Rotor, Outer Rotor By Type: Si...

 The induction motor is the most common electric motor, used in most applications. This electric motor operates with the help of electromagnetic induction, which provides the needed electric energy to invent torque to operate. Induction motors can be termed as an asynchronous motor as it operates at a speed less than a synchronous motor. Globally, demand for the induction motor is being driven by its increasing usage owing to its economic cost and low maintenance and growing demand for electric vehicles.  Induction motors are largely utilized in drive applications like fixed-speed and variable-frequency  drive. Advancement in power electronics is expected to increase the market share of the induction motor market . Induction motor also serves as an alternative of a permanent magnet in the electric vehicles. This report provides a depth analysis of the induction motor market size for the forecast period of 2014-2021. This report also imparts an outlook and incorporates wit...