Austin, TX, USA, March 04, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “AC Electric Motor Market Size, Trends and Insights By Motor Type (Induction Motor, Synchronous Motor), By Power Output (Fractional Horsepower, Integral Horsepower), By End-Use Industry (Industrial, Commercial, Residential), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.
“According to the latest research study, the demand of global AC Electric Motor Market size & share was valued at approximately USD 15.1 Billion in 2022 and is expected to reach USD 15.9 Billion in 2023 and is expected to reach a value of around USD 26 Billion by 2032, at a compound annual growth rate (CAGR) of about 5.8% during the forecast period 2023 to 2032.”
Click Here to Access a Free Sample Report of the Global AC Electric Motor Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=40823
AC Electric Motor Market: Growth Factors and Dynamics:
- Energy Efficiency and Environmental Impact: The AC Electric Motor market experiences substantial growth driven by the increasing emphasis on energy efficiency and environmental impact. As industries and consumers prioritize sustainable practices, the demand for AC electric motors with enhanced efficiency and reduced environmental footprint drives market expansion.
- Industrial Automation and Robotics: The rise of industrial automation and robotics propels the demand for AC electric motors. These motors play a crucial role in powering various automated systems, contributing to increased productivity, precision, and efficiency in manufacturing processes, thus fueling market growth.
- Electrification of Transportation: The global shift towards the electrification of transportation systems, including electric vehicles (EVs) and hybrid vehicles, significantly drives the AC Electric Motor market. These motors power propulsion systems in electric vehicles, contributing to the transition to cleaner and greener transportation options.
- Technological Advancements in Motor Design: Ongoing technological advancements in AC electric motor design, including the use of advanced materials and digital control systems, are key growth factors. These innovations enhance motor performance, reduce energy consumption, and offer greater flexibility in applications, contributing to market expansion.
- Integration of IoT and Industry 4.0: The integration of the Internet of Things (IoT) and Industry 4.0 principles in manufacturing processes increases the demand for smart AC electric motors. Motors equipped with connectivity and data analytics capabilities provide real-time insights, predictive maintenance, and improved operational efficiency, fostering market growth.
- Government Initiatives for Energy Conservation: Supportive government initiatives and regulations aimed at energy conservation drive the adoption of energy-efficient AC electric motors. Incentives and mandates for energy-efficient technologies contribute to market growth as industries seek compliance with environmental standards.
- Expansion in Renewable Energy Projects: The expansion of renewable energy projects, such as wind and solar power, boosts the demand for AC electric motors in power generation. These motors play a critical role in converting renewable energy sources into electricity, aligning with the global push towards sustainable and clean energy solutions.
- Increasing Demand for HVAC Systems: The growing demand for heating, ventilation, and air conditioning (HVAC) systems in residential, commercial, and industrial sectors fuels the AC Electric Motor market. These motors power HVAC systems, contributing to climate control and energy-efficient building solutions, thus driving market expansion.
- Focus on Lightweight and Compact Designs: Manufacturers in the AC Electric Motor market focus on developing lightweight and compact designs. These design innovations cater to industries with space constraints and contribute to the overall efficiency and versatility of AC electric motors, supporting market growth.
- Adoption of AC Motors in Appliances: The adoption of AC electric motors in household appliances, such as refrigerators, washing machines, and air conditioners, drives the market growth. AC motors’ efficiency, reliability, and versatility make them integral components in modern appliances, contributing to their widespread use.
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Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 15.9 Billion |
| Projected Market Size in 2032 | USD 26 Billion |
| Market Size in 2022 | USD 15.1 Billion |
| CAGR Growth Rate | 5.8% CAGR |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Key Segment | By Motor Type, Power Output, End-Use Industry and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the AC Electric Motor report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the AC Electric Motor report has been modified to include the COVID-19 impact study prior to delivery.)
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AC Electric Motor Market: COVID-19 Analysis:
- Resilience in Essential Industries: The AC Electric Motor market demonstrates resilience in essential industries during the COVID-19 pandemic. Sectors such as healthcare, food and beverage, and essential manufacturing continue to rely on AC electric motors for uninterrupted operations, contributing to market stability.
- Accelerated Automation in Response to Labor Challenges: The pandemic accelerates the adoption of automation in response to labor challenges, benefiting the AC Electric Motor market. Industries facing workforce shortages explore automation solutions powered by AC electric motors, sustaining market growth amidst changing labor dynamics.
- Supply Chain Adaptability: Manufacturers in the AC Electric Motor market showcase adaptability in their supply chains during the pandemic. Strategies such as diversification of suppliers and digitalization of supply chain processes contribute to maintaining a steady supply of AC electric motors, supporting market stability.
- Increased Emphasis on Air Quality and Ventilation: The heightened awareness of indoor air quality during the pandemic drives increased demand for HVAC systems, positively impacting the AC Electric Motor market. AC motors powering ventilation systems play a crucial role in providing clean and well-ventilated indoor environments, contributing to market growth.
- Growth in E-Mobility Initiatives: The pandemic does not deter the growth of e-mobility initiatives, benefiting the AC Electric Motor market. Governments and industries continue to invest in electric vehicles, supporting the demand for AC motors in the electrification of transportation, and contributing to market stability.
- Digitalization for Remote Monitoring and Maintenance: The pandemic accelerates the digitalization of remote monitoring and maintenance for AC electric motors. Manufacturers and end-users adopt digital solutions for real-time monitoring, predictive maintenance, and remote troubleshooting, contributing to market adaptability in the new normal.
- Continued Investment in Renewable Energy: Despite economic uncertainties, the AC Electric Motor market witnesses continued investment in renewable energy projects. AC motors remain integral to the success of wind turbines and solar power systems, aligning with the global commitment to sustainable energy solutions, and contributing to market stability.
- Government Stimulus for Green Technologies: Governments provide stimulus packages and incentives for green technologies, benefiting the AC Electric Motor market. Financial support for sustainable and energy-efficient solutions encourages industries to invest in AC motors with improved efficiency and reduced environmental impact, supporting market growth.
- Resurgence of Industrial Activities: As economies recover, industrial activities are resurgent, driving the demand for AC electric motors. Industries ramp up production, infrastructure projects resume, and the need for efficient motor-driven systems contributes to the market’s post-pandemic resurgence.
- Focus on Localized Manufacturing: The pandemic prompts a focus on localized manufacturing to mitigate supply chain risks. This trend benefits regional manufacturers in the AC Electric Motor market, fostering domestic production and contributing to market stability in the face of global disruptions.
- Sustainable Practices as a Key Investment Criterion: The pandemic reinforces the importance of sustainable practices as a key investment criterion. Companies prioritize environmentally friendly solutions, and the AC Electric Motor market benefits from its alignment with sustainability goals, contributing to market stability and growth.
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Key questions answered in this report:
- What is the size of the AC Electric Motor market and what is its expected growth rate?
- What are the primary driving factors that push the AC Electric Motor market forward?
- What are the AC Electric Motor Industry’s top companies?
- What are the different categories that the AC Electric Motor Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the AC Electric Motor market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2023−2032
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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AC Electric Motor Market – Regional Analysis
The global demand for electric motors is widespread, with North America leading the market, followed by Asia-Pacific and Europe. The significant share of the North American market can be attributed to the growing demand for AC motors in the automotive sector.
Emerging markets like India and China are also experiencing substantial growth in the global electric motor market, driven by advancements in the automotive, machinery, and fan & ventilation industries, along with a heightened need for energy-efficient electric pumps.
The market is witnessing an increased demand for medium to large voltage motors, especially in emerging wind power markets, contributing to overall market expansion. However, the adoption of other energy-efficient motors as alternatives to conventional ones poses a challenge to market growth.
AC synchronous motors are in highest demand in North America, followed by Asia-Pacific, Europe, and LAMEA (Latin America, Middle East, and Africa). The dominant share in the North American market is primarily due to the increased demand for conveyors in the industrial machinery segment.
As of 2022, Asia-Pacific has emerged as the leading regional market within the global AC Electric Motor Market, boasting a substantial value of USD 30.12 billion. The primary contributors to this robust market performance are China, Japan, and India, witnessing high rates of industrialization, infrastructure development, and increasing demand for energy-efficient technologies.
The Asia-Pacific AC electric motor market experienced remarkable growth, marking a 9.2% increase over the forecast period.
Securing the second-largest regional share, North America recorded a market value of USD 14.87 billion in 2022. The North American AC electric motor market is significantly influenced by the adoption of advanced technologies in industries, government initiatives promoting energy efficiency, and a focus on sustainability.
The region demonstrated substantial growth of 7.5% over the forecast period, driven by ongoing efforts to upgrade and modernize industrial systems.
Europe, with a market value of USD 10.45 billion in 2022, holds the third-largest regional share in the global AC Electric Motor Market. The European market is characterized by stringent regulations promoting energy-efficient solutions, growing investments in renewable energy, and a push towards smart manufacturing.
The region experienced growth of 6.9% over the forecast period, reflecting the increasing emphasis on reducing carbon emissions and enhancing industrial efficiency.
In summary, the AC Electric Motor Market is poised for significant growth driven by factors such as energy efficiency awareness, technological advancements, Industry 4.0 adoption, and the rise of electric mobility.
Despite challenges related to initial costs and technical complexities, the market is expected to thrive, with Asia-Pacific leading the way in regional market share.
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Browse the full “AC Electric Motor Market Size, Trends and Insights By Motor Type (Induction Motor, Synchronous Motor), By Power Output (Fractional Horsepower, Integral Horsepower), By End-Use Industry (Industrial, Commercial, Residential), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/ac-electric-motor-market/
List of the prominent players in the AC Electric Motor Market:
- ABB Ltd.
- Siemens AG
- WEG S.A.
- Regal Beloit Corporation
- Nidec Corporation
- Toshiba Corporation
- Emerson Electric Co.
- Rockwell Automation Inc.
- Bosch Rexroth AG
- Hitachi Ltd.
- Mitsubishi Electric Corporation
- Johnson Electric Holdings Limited
- TECO Electric & Machinery Co. Ltd.
- Ametek Inc.
- Allied Motion Technologies Inc.
- Others
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The AC Electric Motor Market is segmented as follows:
By Motor Type
- Induction Motor
- Synchronous Motor
By Power Output
- Fractional Horsepower
- Integral Horsepower
By End-Use Industry
- Industrial
- Commercial
- Residential
Click Here to Get a Free Sample Report of the Global AC Electric Motor Market @ https://www.custommarketinsights.com/report/ac-electric-motor-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This AC Electric Motor Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This AC Electric Motor Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the AC Electric Motor Market? What Was the Capacity, Production Value, Cost and PROFIT of the AC Electric Motor Market?
- What Is the Current Market Status of the AC Electric Motor Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of AC Electric Motor Market by Considering Applications and Types?
- What Are Projections of the Global AC Electric Motor Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is AC Electric Motor Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On AC Electric Motor Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of AC Electric Motor Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for AC Electric Motor Industry?
Click Here to Access a Free Sample Report of the Global AC Electric Motor Market @ https://www.custommarketinsights.com/report/ac-electric-motor-market/
Reasons to Purchase AC Electric Motor Market Report
- AC Electric Motor Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- AC Electric Motor Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- AC Electric Motor Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape 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 company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- AC Electric Motor Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global AC Electric Motor market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
Buy this Premium AC Electric Motor Research Report | Fast Delivery Available – [220+ Pages] @ https://www.custommarketinsights.com/report/ac-electric-motor-market/
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide AC Electric Motor market analysis.
- The competitive environment of current and potential participants in the AC Electric Motor market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide AC Electric Motor market should find this report useful. The research will be useful to all market participants in the AC Electric Motor industry.
- Managers in the AC Electric Motor sector are interested in publishing up-to-date and projected data about the worldwide AC Electric Motor market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in AC Electric Motor products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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