According to Custom Market Insights (CMI), The Global Electric AC Motors Market size 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.
Our research report offers a 360-degree view of the Electric AC Motors market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Electric AC Motors market.
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.
Browse the full “Electric AC Motors Market Size, Trends and Insights By Type (Induction, Synchronous), By Voltage (Integral, Fractional), By End-use Industries (Industrial Machinery, Household Appliances, HVAC Equipment, Motor Vehicles, Aerospace Transportation, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at https://www.custommarketinsights.com/report/electric-ac-motors-market/
Growth Factors
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.
Segmental Overview
The market for Electric AC Motors is segmented into type, voltage, and end-use industries. Based on the end-use industries, the need for the motor vehicles segment is anticipated to dominate throughout 2022-2030. Due to their simple installation, enhanced safety, and adequate torque, AC motors have seen increased use in the motor vehicle industry due to the expanding automotive industry and the rising popularity of electric vehicles.
By 2030, the HVAC equipment segment is anticipated to increase at a substantial CAGR. Over the projection period, the segment expansion will likely be fueled by infrastructure development in various countries. Also, the industrial machinery segment is anticipated to grow at the second-fastest rate.
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Regional Overview
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.
Key Players Insights
The competitive landscape for the electric AC motors market includes information from competitors. The company’s financials, revenue generated, market potential, investment in RD, new market initiatives, production sites and facilities, global presence, production capacities, product launch, company strengths and weaknesses, product width and breadth, and application dominance are among the details that are included. The data above points are limited to the companies in electric AC motors market-related focus.
Prominent Players
- ABB
- Denso Corporation
- ARC Systems Inc.
- Emerson Electric Co.
- Maxon
- Johnson Electric Holdings Limited
- Nidec Corporation
- Regal Rexnord Corporation
- Siemens
- Rockwell Automation, Inc.
Table of Contents: https://www.custommarketinsights.com/infographics/electric-ac-motors-market/#table-of-contents
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