The Germany AC Motor Market size is estimated at USD 1 billion in 2024, and is expected to reach USD 1.18 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).
The German AC motor market is competitive with various large, medium, and small players. The United States AC motors industry players are introducing new innovative products to cater to the growing consumer demands. Major players in the market include Siemens AG, Nidec Corporation, WEG Germany GmbH, TECO Electric Europe Ltd, and ABB Limited. Technological advances in various industries, including healthcare, energy, and infrastructure, will boost the market growth.
In September 2023, WEG announced the acquisition of the industrial electric motors and generators business of Regal Rexnord Corporation, a global manufacturer of electromechanical equipment. The acquisition will support the ongoing growth of the WEG Group in the industrial electric motors and generators markets by incorporating recognized brands and a product line that complements the Group's current portfolio.
In July 2023, Siemens AG announced that it would invest EUR 1 billion (USD 1.10 billion) in Germany to boost the country's innovative strength. Through this investment, the company will expand its development and manufacturing capacities, further enabling Siemens to accelerate its overall growth, drive innovation, and increase its resilience.
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