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News  ›  GlobeNewswire Inc.

Induction Motors Market Size to Hit USD 39.15 Billion by 2033 | Research by SNS Insider

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Sns Insider
Induction Motors Market Size to Hit USD 39.15 Billion by 2033 | Research by SNS Insider

The global induction motor market is projected to grow from USD 23.38 billion in 2025 to USD 39.15 billion by 2033 at a CAGR of 6.69%, driven by industrial automation, energy-efficient manufacturing, and renewable energy investments. However, high energy-efficiency compliance costs and rising raw material prices pose challenges to market expansion. Asia Pacific leads with 42.67% market share, while renewable energy applications are expected to grow fastest at 9.21% CAGR.

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Identified as a leading market player but no specific recent developments or product launches mentioned in the article.