Press release
AC Electric Motor Market Report to 2032: Growth Rate, Market Size & Players
AC Electric Motor Market Size was valued at $17.5 billion in 2022, and is projected to reach $27.9 billion by 2032, growing at a CAGR of 4.7% from 2023 to 2032
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Furthermore, the growing demand for electric motors from robotics and automated robot technologies is expected to create profitable prospects for the market's expansion. In addition, the France Government offers incentives for electric car owners of up to $6,300 depending on the emission levels of the car. Therefore, government funding initiatives for electric cars drive the global ac electric motor market.
The industrial machinery segment held the highest market share in 2022, and transportation segment is projected to manifest the highest CAGR. This is attributed to increasing demand for efficient and specialized equipment for industrial sector and rising demand of ac electric motor for transportation sector to reduce carbon emission.
Compressors, pumps, automobiles, machine tools, lathes, power tools, home appliances, and electric autos all contain electric motors. These highly effective motors are more expensive than normal motors, but they offer a variety of advantages over standard motors, including longer operational lives, lower energy usage, less maintenance, and higher tolerance to voltage fluctuations. The need for high-efficiency motors is anticipated to rise due to the applications of electric motors' need for increased productivity and low power consumption. Moreover, key market players are using product launch strategy for strengthening product portfolio.
Key Market Players: ABB Ltd., Toshiba Corporation, NIDEC CORPORATION, WEG., Cantoni Group, LLC., Siemens AG, General Electric, Teco Electric & Machinery Co., Ltd., SEC Electric Machinery Co., Ltd., Hitachi Ltd.
Report: https://www.alliedmarketresearch.com/ac-electric-motor-market-A31691
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ac electric motor market analysis from 2022 to 2032 to identify the prevailing ac electric motor market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the ac electric motor market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
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