Asynchronous motor is a type of commonly used electrical motor which is also known as induction motor. Asynchronous motors are used in various sector such as residential, industrial, commercial building, agriculture, & transportation. Various features associated with asynchronous motor such as rugged built, reliable, lightweight & have low maintenance cost are creating its Demand in the market. Asynchronous motor has simple structures, easy maintenance, low prices, broader constant power etc. which makes it suitable for the application in electric vehicle. Increasing awareness for environmental protection is key trend for adoption, as these motors have low emission rate as compare to others & have low maintenance cost. Due to this factor, asynchronous motors are used in electric vehicle. Rising demand of electric car is majorly driving the market for asynchronous motors.This growth is primarily driven by Increasing Demand For Electric Vehicle and Growing Adoption Due To Low Cost.
Globally, a noticeable market trend is evident Technological Advancement in the product
. Major Manufacturers, such as Nidec Motor Corporation (United States), ABB Ltd. (Switzerland), Siemens AG (Germany), WEG Electric Corp. (Brazil), Emerson Electric Co. (United States), Regal Beloit Corporation. (United States), Kirloskar Electric Co. Ltd. (India), Marathon Electric India Pvt.Ltd. (United States), Schneider Electric SE.(France), Brook Crompton (United Kingdom), Johnson Electric (Hong Kong) and Maxon Motor (Switzerland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Increasing Demand For Electric Vehicle
- Growing Adoption Due To Low Cost
- Technological Advancement in the product
- Highly Fragmented Market
- Increasing awareness for environmental protection
- Strong competition
- Emerging substitute technology
Growing Industrial Base In Developing Economy and Increasing government funding For Energy Efficient Motors
Scarcity of raw material
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