AC Electric Motor Market is Projected to Reach $27.9 Billion By 2032

The global AC electric motor market, valued at $17,472.4 million in 2022, is anticipated to surge to $27,892.2 million by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 4.7% from 2023 to 2032. AC electric motors, converting alternating current electrical energy into mechanical energy, find extensive applications in electric vehicles, robotics, and electric pumps, owing to their exceptional features such as high efficiency, torque, durability, controllability, and reliability. The escalating demand for AC electric motors in electric vehicles, robotics, industrial equipment, and HVAC applications propels market growth significantly.

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These motors find assembly in a diverse array of applications including compressors, pumps, automobiles, locomotives, machine tools, power tools, and electric cars. Despite their relatively higher cost, AC electric motors are preferred over standard motors due to their longer operating life, low energy consumption, minimal maintenance requirements, and high tolerance to voltage fluctuations. The imperative for enhanced productivity and reduced power consumption is expected to drive the demand for high-efficiency AC electric motors further. Moreover, the surge in demand from robotics and automated technologies presents lucrative growth avenues for the market.



The push for industrial automation to bolster operational efficiency, coupled with growing concerns about energy efficiency, propels the adoption of AC electric motors across various industries. Governments worldwide are imposing stringent regulations and offering incentives to drive market growth, ensuring compliance with efficiency standards. However, market saturation in mature industries and potential disruptions in the global supply chain pose challenges to market expansion.



Strategically, key players are pursuing acquisition as a means of business expansion. For instance, in September 2023, WEG S.A. acquired the industrial electric motors and generators business from Regal Rexnord Corporation for $400.0 million, bolstering its presence and capabilities in the sector. Such strategic moves reflect a commitment to reinforcing market position and diversifying portfolios.



Market segmentation is based on output power, sales type, end-user industry, and region. Output power categories include 1000 hp up to 10000 hp, 10000 hp up to 20000 hp, and 20000 hp up to 30000 hp. Sales types encompass new and aftermarket sales. End-user industries span transportation, HVAC, industrial machinery, and others. Regionally, analysis covers North America, Europe, Asia-Pacific, and LAMEA.

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Key players dominating the market include ABB Ltd., Cantoni Group, General Electric, Hitachi Ltd., Nidec Corporation, SEC Electric Machinery Co., Ltd, Siemens AG, Teco, Toshiba Corporation, and Weg. These companies employ strategies like product launches and expansions to offer superior products and services, driving market growth.



Stakeholders benefit from quantitative market analysis, insights into current trends, key drivers, restraints, and opportunities, Porter's five forces analysis, and comprehensive segmentation analysis provided in the report. Mapping of major countries by revenue contribution aids in strategic decision-making, while market player positioning facilitates benchmarking and enhances understanding of market dynamics.

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