The Electric AC Motors Market was at US$ 110 Billion in 2021 and is growing to approx US$ 208 Billion by 2030, with a CAGR growth of 8% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, January 29, 2023 /EINPresswire.com/ -- According to the study, The Global Electric AC Motors Market was estimated at USD 110 Billion in 2021 and is anticipated to reach around USD 208 Billion by 2030, growing at a CAGR of roughly 8% between 2022 and 2030.

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Electric AC Motors Market: Overview

Electric AC motors serve various purposes, including machine tools, home appliances, HVAC, transportation, and industrial. Electric AC motors are used in industrial settings to convert electrical to mechanical power. Because of their compact size, single-phase electric AC motors are typically employed in tiny appliances like fans, refrigerators, hair dryers, washing machines, and mixers. The market for electric AC motors is expanding as a result of reasons like rising industrial automation, increasing demand for electric AC motor-powered home appliances, low manufacturing costs, durability, and growing use in HVAC applications.

Electric AC Motors Market: Growth Drivers

Due to the excellent efficiency of AC synchronous motors, which is driving a surge in demand for efficient machine control in the automotive industry, the market for electric AC motors is expanding. Furthermore, the need for electric motors is also anticipated to grow due to government laws requiring energy efficiency.

Because electric motors are being used in more industries, the market for them is anticipated to expand. For example, electric motors are often used in the industry for pumps and fans. In addition, three-phase AC induction motors make up most industrial engines due to their dependability and affordability.

Additionally, the rising demand for HVAC systems is boosting the market for electric AC motors. The need for heating and cooling in residential, commercial, and industrial buildings has expanded the heating and air-conditioning (HVAC) business. As a result, the supply of HVAC equipment in buildings is being prioritized as a crucial component during new construction operations. Additionally, it has increased long-term demand for the use of electric motors. The major drivers of the HVAC business are expanding countries, as commercial areas expand along with rising standards of living.

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Key Insights:

A) As per the analysis shared by our research analyst, the Electric AC Motors market is estimated to grow annually at a CAGR of around 8% over the forecast period (2022-2030).
B) In terms of revenue, the Electric AC Motors market size was valued at around USD 110 Billion in 2021 and is projected to reach USD 208 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on type segmentation, the induction segment was predicted to show maximum market share in 2021.
D) Based on the voltage segmentation, the HP output segment was the top revenue-generating category in 2021.
E) Based on end-use industries segmentation, the motor vehicle segment was the top revenue-generating category in 2021.
F) Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.

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Regional Landscape

The Asia Pacific region will lead the electric AC motor market in 2021. Asia Pacific nations are moving toward internet-based economic activity in every sector due to their rapid industrialization. The GSM Association reports that established Asian countries, including South Korea, Japan, and Australia, are gradually investigating the possibility of new services and connected devices.

The vehicle sector in the area is expanding quickly. In addition, the largest automobile manufacturer in the world is located in the Asia Pacific. These reasons are anticipated to increase the market for electric AC motors in the Asia Pacific.

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Key Players

ABB
Denso Corporation
ARC Systems Inc.
Emerson Electric Co.
Maxon
Johnson Electric Holdings Limited
Nidec Corporation
Regal Rexnord Corporation
Siemens
Rockwell Automation, Inc.


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The Electric AC Motors Market is segmented as follows:

By Type

Induction
Synchronous

By Voltage

Integral
Fractional

By End-use Industries

Industrial Machinery
Household Appliances
HVAC Equipment
Motor Vehicles
Aerospace & Transportation
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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