The Electric AC Motors Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.
Market Insights
The global electric AC motors market size is projected to value at USD 146.6 billion by 2025, according to a new report published by Million Insights, at a CAGR of 7.3% from 2017 to 2025. These motors are extensively used in fixed cranes, domestic appliances, compressors, and diesel-electric engines. Their major benefits like efficient operation and cost-effectiveness in difficult surroundings make them appropriate for different applications. These products are expected to observe high growth due to their long operating life, low power consumption, and maintenance requirements.
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The increasing demand for AC motors-driven engines across the globe is further, boosting the market growth. Moreover, factors like the demand for industrial machinery and HVAC equipment are expected to accelerate market demand in the upcoming years. AC motors have deployed various technological advancements in recent years, resulting in imputed demand for these motors.
The market is expected to observe significant growth from 2017 to 2025 due to rapid industrialization across developing and developed countries. Furthermore, large-scale use of these products in various industrial equipment like the electric saw, conveyor belts, fixed cranes, and many more.
The rapidly rising fuel costs and the preference of consumers for cleaner energy sources have boosted the market growth in the past years. An AC motor serves as the major component of electric motors which is expected to accelerate product demand. Moreover, the rising awareness relating to environment protection coupled with government initiatives remain the major drivers of the growth of the market.
HVAC systems are extensively used in different places like offices, shopping malls, and commercial spaces. Rapid urbanization and a better standard of living have resulted in a large volume of installation of HVAC systems. HVAC equipment uses AC motors to power air blowers that control airflow.
The feature of AC type to work at different speeds coupled with higher operational efficiency and dependability is expected to result in higher adoption of these products over the projected period.
End-user Outlook (Revenue, USD Billion; 2014 - 2025)
• Industrial Machinery
• Motor Vehicles
• HVAC Equipment
• Aerospace & Transportation
• Household Appliances
• Others
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Further key findings from the report suggest:
• The electric AC motor market was worth USD 78.6 billion in 2016. It is expected to register a CAGR of 7.3% from 2017 to 2025. The growth is imputed to their rising use in industrial machinery and HVAC equipment.
• The induction division held the highest market share in 2016 due to factors like low maintenance, efficient operation, and sturdy construction in harsh environments.
• The increasing use of motors with HP output in hybrid electric vehicles is predicted to drive segment growth.
• AC motors are primarily used in the industrial machinery sector, due to their advantages like safe operations and robust functioning.
• Asia Pacific is expected to grow at a CAGR of over 8% by 2025 due to the growing industrialization and commercialization in the emerging economies like Japan, India, and China.
• The key players include ABB Ltd., Siemens AG, Toshiba, and Baldor Electric Co. Companies have been focusing on expanding their market reach through merger & acquisition.
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New York, NY 15 Feb 21: The global electric AC motors market is estimated to reach USD 166.5 billion by 2026 growing at a CAGR of 8.8% during the forecast period, according to a new study published by Polaris Market Research.
The report ‘Electric AC Motors Market Share, Size, Trends, & Industry Analysis Report, By Type (Induction AC Motors, Synchronous AC Motors); By Application (Automotive, Agriculture, Residential, Commercial, Industrial, Others); By Region: Segment Forecast, 2019 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the electric AC motors industry during the forecast period.
The presence of emerging industries such as healthcare, agriculture, construction, and automotive, substantial initiatives in research and development, and favorable government policies drive the market growth.
The increasing sale of passenger vehicles, coupled with high penetration of electric vehicles in countries such as China, and Japan increases the adoption of electric AC motors in the region.
