Global AC Electric Motor Market Size, Share, and Analysis, By Motor Type (Induction Motors, Synchronous Motors, Servo Motors, and Hermetic Motors), By Output Power (Fractional HP Motors (less than 1 HP), Low Power Motors (1 HP to 100 HP), Medium Power Mot

Global AC Electric Motor Market Size, Share, and Analysis, By Motor Type (Induction Motors, Synchronous Motors, Servo Motors, and Hermetic Motors), By Output Power (Fractional HP Motors (less than 1 HP), Low Power Motors (1 HP to 100 HP), Medium Power Motors (101 HP to 1000 HP), and High Power Motors (above 1000 HP)), By End-Use (Automobile, Industrial Machinery, Power Generation, Metal and Mining, Oil and Gas, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Global AC Electric Motor Market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 17.1 billion and is projected to reach USD 30.4 billion by the completion of 2034.

AC electric motors operate using alternating current (AC), a type of electrical current commonly found in homes and businesses worldwide. These motors convert electrical energy into mechanical power through a process called electromagnetic induction. The primary components of an AC motor include the stationary stator, which creates a rotating magnetic field when electricity flows through its coils, and the rotor, which spins in response to this magnetic field. As the rotor turns, electromagnetic induction within it generates a magnetic field that interacts with the stator's field, causing the motor to rotate and drive various types of machinery such as pumps, compressors, and industrial equipment. AC motors are valued for their efficiency, reliability, and versatility across numerous applications.

MARKET HIGHLIGHTS

Global AC Electric Motor Market is expected to reach USD 30.4 billion during the forecast period. This growth is driven by increased industrial automation, which demands more efficient motors for robotics and machinery. The shift towards electric vehicles and renewable energy sources, such as wind turbines, also boosts the demand for AC motors in automotive applications and charging stations. Urban growth drives the need for HVAC systems and infrastructure, heavily relying on AC motors. Innovations in motor design, materials, and control systems further enhance motor performance, efficiency, and reliability, promoting their use in various sectors. Additionally, the growing industrialization and infrastructure developments in emerging economies are increasing the demand for AC motors in construction, manufacturing, and transportation sectors.

Global AC Electric Motor Market Segments:

• By Motor Type
• Induction Motors
• Synchronous Motors
• Servo Motors
• Hermetic Motors
• By Output Power
• Fractional HP Motors (less than 1 HP)
• Low Power Motors (1 HP to 100 HP)
• Medium Power Motors (101 HP to 1000 HP)
• High Power Motors (above 1000 HP)
• By End-Use
• Automobile
• Industrial Machinery
• Power Generation
• Metal and Mining
• Oil and Gas
• Others

MARKET DYNAMICS

Growth Drivers

Urbanization and Infrastructure Development are Critical to Boost the Adoption of AC Electric Motor

Automation and Robotics Will Aid the Market

Restraint

Competition from DC Motors can Limit the Growth of the Global AC Electric Motor Market

Key Players

• ABB Ltd.
• Emerson Electric Co.
• Siemens AG
• Nidec Corporation
• Toshiba Corporation
• Danaher Corporation
• General Electric Company (GE)
• Hitachi, Ltd.
• Regal Beloit Corporation
• WEG S.A.
• Johnson Electric Holdings Limited
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Rockwell Automation, Inc.
• Baldor Electric Company
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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