Global Electric AC Motors Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ 165.40 Bn.
The global Electric AC Motors market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Electric AC Motors report also provides trends by market segments, technology, and investment with a competitive landscape.
Definition of Electric AC Motors:
Electric AC motors are used in a variety of applications, including machine tools, home appliances, HVAC, automobiles, and industry. Electric AC motors are used in a variety of industrial applications, including power conversion from electrical to mechanical. Single-phase electric AC motors are small and are typically used in small power conversion applications such as fans, refrigerators, and mixers.
Global Electric AC Motors Market Dynamics:
The market for electric AC motors is growing due to rising automation in various industrial processes, the demand for electric AC motor-driven household appliances, low production costs, reliability, and increased usage in HVAC (Heating, ventilation, and air conditioning) applications.
Some of the major factors driving the market’s growth is rising knowledge about the use of electric vehicles and energy-efficient motors, as well as the growing adoption of electric vehicles and energy-efficient motors. High-power motors, on the other hand, generate a lot of vibration, strain, and heat while they’re running, which is one of the factors limiting the market’s growth.
Because of the increased modernization and automation of industrial processes, the market is expected to grow significantly. The well-established oil and gas industry, as well as the power generation market, is driving increased demand for industrial automation, with these products serving as key cost-cutting components. These products are cost-effective because they need minimal maintenance due to their design. They do not have accessories that need cleanings, such as slip rings and brushes. Oversized bearings, cast iron construction, and high-integrity seals are used in their design, ensuring higher reliability and longer operating life in harsh working environments.
Global Electric AC Motors Market Segmentation:
Global Electric AC Motors Market
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Based on type, the market is segmented into induction AC motors and synchronous AC motors. Since these are cost-effective, have a simple design, and can work efficiently in harsh environments, the induction AC segment accounted for a significant market share in 2019. The three-phase induction motor sub-segment is expected to fuel the induction motor market during the forecast period. With the growing demand for electric vehicles, induction motor adoption has an amount of opportunity to develop. Induction motors are popular because they are durable, can handle smaller loads, and have lower costs and services. However, due to benefits such as precise speed and position control, robust construction, and powerful torque, the synchronous segment is expected to rise at a CAGR exceeding XX % across several sectors. These products are ideal for low-speed applications.
Global Electric AC Motors Market 1
Global Electric AC Motors Market Regional Insights:
Global Electric AC Motors Market 2
Over the forecast period, Asia Pacific market is projected to grow rapidly. This is because, as opposed to other developing nations, Japan, India, and China have a higher rate of commercialization and industrialization. The AC electric motors segment dominated the revenue share in India’s electric motors market in 2019 and is expected to continue to do so in the future. Low voltage motors had the highest revenue share among voltage levels in 2019, but medium voltage is expected to rise the most over the next few years due to increased use in the industrial sector. Besides, the market’s expansion is fueled by rising demand for electric vehicles and the HVAC (heating, ventilation, and air conditioning) industry. On the other hand, government initiatives such as ‘Make in India’ and other initiatives encourage manufacturers to introduce automation across various industries and concentrate on improving industrial equipment mechanisms.
Because of the government’s strict regulations aimed at reducing the greenhouse effect, North America is predicted to rise at a CAGR of more than XX %. In addition, manufacturers in the United States have begun to implement electric motors as a replacement for gas turbines. In the coming years, Latin America and Europe are expected to experience significant growth.
The objective of the report is to present a comprehensive analysis of the Global Electric AC Motors Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Electric AC Motors Market dynamics, structure by analyzing the market segments and project the global Electric AC Motors market size. Clear representation of competitive analysis of key players By Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Electric AC Motors Market make the report investor’s guide.
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Global Electric AC Motors Market 3
Global Electric AC Motors Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global Electric AC Motors Market Key Players
• Siemens AG
• Kirloskar Electric Company
• Johnson Electric
• Rockwell Automation, Inc.
• Baldor Electric Company
• Allied Motion Technologies Inc.
• Ametek Inc.
• Asmo Co. Ltd.
• Franklin Electric Co. Inc.
• Mordor Intelligence
• Control Technique
• Chinabase Machinery
• CRRC Zhuzhou Electric Co., Ltd.
• Elprom Harmanli
• Other Key Players