Electric AC Motors Market by Type (Induction AC Motors, Synchronous AC Motors), Voltage (Fractional HP Output, Integral HP Output), End Use - Global Forecast 2024-2030

Electric AC Motors Market by Type (Induction AC Motors, Synchronous AC Motors), Voltage (Fractional HP Output, Integral HP Output), End Use - Global Forecast 2024-2030

The Electric AC Motors Market size was estimated at USD 14.49 billion in 2023 and expected to reach USD 15.05 billion in 2024, at a CAGR 4.23% to reach USD 19.38 billion by 2030.

Electric AC motors are electromechanical devices that transform electrical energy into mechanical energy through the interaction between the motor's magnetic field and electric current in a wire winding. This conversion process allows for force generation in the form of torque applied on the motor's shaft. AC motors are distinguished by their ability to operate on alternating current, which changes direction periodically. Electric AC motors are widely used in various applications due to their versatility, efficiency, and capability to control speeds over a wide range. The market's growth is propelled by technological innovations, regulatory policies aimed at reducing energy consumption, and the rise in urbanization and industrial activities. Emerging trends, such as the move towards renewable energy, the electrification of transport, and advancements in smart grids and IoT, along with the need to replace aging industrial machinery, offer substantial opportunities for market expansion. However, challenges such as the high initial cost of advanced technologies, market saturation, and supply chain vulnerabilities must be navigated. Furthermore, innovations in energy efficiency, material science, smart motor technologies, and the integration with renewable energy sources are vital research and development areas to sustain market growth and address future demands.

Regional Insights

The Americas region is witnessing a robust demand for electric AC motors, primarily driven by the United States. The adoption of electric AC motors is high in the manufacturing, automotive, heating, ventilation, and air conditioning (HVAC) sectors. Initiatives towards energy efficiency and green energy are propelling the market forward. The presence of key manufacturers and technological advancements in motor designs contribute to the growth of the electric AC motors market in the American region. The Asia-Pacific region is witnessing rapid adoption of electric AC motors, particularly in countries such as China, India, and Japan. The factors fueling the growth of the electric AC motor market in the Asia-Pacific region include rapid industrialization, expansion of manufacturing facilities, and increased investments in infrastructure development. The region benefits from the availability of cost-effective labor and materials, making it a global manufacturing hub for electric AC motors. The automotive and consumer electronics sectors are significant contributors to the demand in the region. The EMEA region showcases steady growth in the electric AC motors market, driven by the increasing focus on renewable energy, regulatory support for energy-efficient motors, and the modernization of industrial machinery, especially in European countries. The Middle East and Africa are also emerging as significant markets, with investments in infrastructure and energy sectors.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Electric AC Motors Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Burgeoning shift toward smart manufacturing and Industry 4.0
Government regulations promoting energy efficiency and rising emphasis on reducing greenhouse gas emissions

Market Restraints

High initial costs and technical limitations associated with the electric AC motor

Market Opportunities

Increasing innovations in motor efficiency and integration with IoT for predictive maintenance
Expanding application of electric AC motors in heating, ventilation, and air conditioning (HVAC)

Market Challenges

Lack of technical expertise in the installation and maintenance

Market Segmentation Analysis

Type: Increasing preference for induction AC motors for its ease of use and cost efficiency
End Use: Expanding usage of electric AC motors in household appliances

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Electric AC Motors Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Electric AC Motors Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

WorldWide Electric Corporation Announces the Acquisition of North American Electric, Inc.

WorldWide Electric Corporation strategically expanded its market position and technical proficiencies through the recent acquisition of North American Electric, Inc. This move broadens WorldWide Electric's operational scope and significantly enhances its market footprint. The acquisitions include AC and DC electric motors and high-quality fractional and sub-fractional gear motors. These strategic incorporations collectively augment WorldWide Electric's product offerings and service capabilities, reinforcing its position as a significant player in the electric AC motors industry.

WEG Acquires Industrial Electric Motors and Generators Business from Regal Rexnord

WEG S.A. successfully finalized the acquisition of the industrial electric motors and generators business from the globally recognized Regal Rexnord Corporation. This strategic acquisition, sealed at USD 400 million, is poised to advance WEG S.A.'s offerings in the electric A.C. motors domain, subject to customary transactional price adjustments. This move underscores WEG S.A.'s commitment to expanding its portfolio and reinforcing its stature as a leading force in the global electromechanical arena.

ZF Makes Magnet-Free Electric Motor Uniquely Compact and Competitive

ZF introduced the In-Rotor Inductive-Excited Synchronous Motor (I2SM), setting new standards in the electric motor landscape. Unlike magnet-free options, such as separately excited synchronous motors (SESM), ZF's innovation boasts an advanced design where the energy required for the magnetic field is transferred inductively within the rotor shaft. This innovative approach enables the I2SM to offer unparalleled compactness alongside optimal power and torque density, distinguishing itself as a remarkable advancement in electric motor technology.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Electric AC Motors Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Electric AC Motors Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Allient Inc., Ametek Inc., BorgWarner Inc., Danfoss A/S, DENSO Corporation, Emerson Electric Co., Farmtech Industries, Franklin Electric Co. Inc., General Electric Company, Groschopp AG, Hitachi Ltd., Hiwin Corporation, Johnson Electric Holdings Ltd., Kirloskar Electric Company, Mitsubishi Electric Corporation, Nidec Motor Corporation, OMEGA Engineering inc., Regal Rexnord Corporation, Renesas Electronics Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, SEW-EURODRIVE GmbH & Co KG, Siemens AG, Sinotech, Toyota Material Handling, Inc., Wolong Electric Group, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Electric AC Motors Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Induction AC Motors
Synchronous AC Motors
Voltage
Fractional HP Output
Integral HP Output
End Use
Aerospace & Transportation
Household Appliances
HVAC Equipment
Industrial Machinery
Motor Vehicles
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year