Zion Market Research Induction Motor Market, 2016–2024 | Page 3

Induction Motor Market
market. Additionally, low-cost value for maintenance is also one of the significant reasons that
are driving the global market. Moving on, low cost for raw material is one of the main reasons
that are elevating the growth of the global market. Affordable charges for transportation are
also one of the significant factors that are lowering the global market.
On the other hand, huge value of ownership of the induction motors is the main reason
hampering the growth of global induction motor market.
Global Induction Motor Market: Segmentation
Based on the type, the global induction motor market is mainly classified as three phase
induction motor and single-phase induction motor.
Based on applications, the global market is bifurcated into industrial, residential, and
commercial.
On the basis of geography, the global market for the induction motor is divided into North
America, Europe, Asia-Pacific, Latin America, the Middle East and Africa, and Rest of the World.
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