Press release
Strong Growth Ahead: AC Electric Motor Market Size To Grow At Arecord 6% Cagr By 2029
AC Electric Motor
How Big Is the AC Electric Motor Market Size Expected to Be by 2034?
The size of the AC electric motor market has seen significant expansion in past years, with projected growth from $17.30 billion in 2024 to $18.39 billion in 2025, at a compound annual growth rate (CAGR) of 6.3%. The development observed in previous years could be credited to factors such as the demand for industrial automation, the rise in electric vehicle adoption, implementation of energy efficiency policies, the expansion of urban infrastructure, and the evolution of the manufacturing sector.
The market for AC electric motors is projected to experience notable expansion in the forTH*Coming years, predicted to reach a worth of $23.23 billion by 2029, manifesting a compound annual growth rate (CAGR) of 6.0%. This projected expansion during the forecast period can be ascribed to the growth of smart manufacturing, proliferation of electric mobility, increased industrial digitization, modernization of infrastructure, and an escalated focus on energy conservation. The era is likely to witness trends such as breakthroughs in motor control technology, amalgamation with Internet of Things platforms, the conception of high-efficiency motors, advancements in cooling systems, and the employment of sophisticated materials in motor design.
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What Are the Emerging Segments Within the AC Electric Motor Market?
The AC electric motor market covered in this report is segmented -
1) By Motor Type: Induction Motor, Synchronous Motor
2) By Voltage: High Voltage Motors, Medium Voltage Motors, Low Voltage Motors
3) By Power Output: Fractional Horsepower, Integral Horsepower
4) By Sales Channel: Original Equipment Manufacturer, After market
5) By End-User: Industrial, Commercial, Residential, Agriculture, Transportation
Subsegments:
1) By Induction Motor: Single-Phase Induction Motor, Three-Phase Induction Motor
2) By Synchronous Motor: Permanent Magnet Synchronous Motor (PMSM), Electrically Excited Synchronous Motor, Reluctance Synchronous Motor
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What Long-Term Drivers Are Shaping AC Electric Motor Market Trends?
The surge in industrial automation is anticipated to boost the advancement of the AC electric motor market. Essentially, industrial automation utilizes controls systems, including computers and robots, to manage industrial processes with minimal human input. This not only enhances the speed, accuracy, and safety of production but also reduces the labor costs. The growing need for accuracy, efficiency, and cost-effectiveness in manufacturing processes necessitates the rise in industrial automation, thereby enabling businesses to stay competitive in a fast-changing market. AC electric motors contribute to industrial automation by providing precise speed and torque control to power robotic arms and automated machinery. For example, the International Federation of Robotics (IFR), a Germany-based non-profit organization, revealed in September 2024 that the UK witnessed a 51% increase in industrial robot installations, tallying to 3,830 units. In the same trend, the Americas marked over 50,000 unit installations for the third year in a row in 2023, cumulating to a total of 55,389 units. Therefore, the escalating industrial automation is fueling the growth of the AC electric motor market.
Who Are the Top Competitors in Key AC Electric Motor Market Segments?
Major companies operating in the AC electric motor market are Hitachi Ltd., Siemens AG, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, ABB Ltd., Toshiba Corporation, Bosch Rexroth AG, Rockwell Automation Inc., AMETEK Inc., WEG S.A., Johnson Electric Holdings Limited, HD HyundAI Electric Co. Ltd., TECO Electric & Machinery Co. Ltd., CG Power and Industrial Solutions Limited, Ziehl-Abegg SE, Allied Motion Technologies Inc., Yaskawa Electric Corporation, Kirloskar Electric Company Limited, Maxon Motor AG
What AC Electric Motor Market Trends Are Gaining Traction Across Different Segments?
Leading corporations in the AC electric motor market are shifting their focus towards innovative technologies such as energy-efficient electric motors. These motors are engineered to consume less energy while providing the same or even enhanced performance compared to traditional motors. The enhanced performance is achieved using cutting-edge technologies such as optimised winding, upgraded cooling systems, and superior materials that minimise energy loss. For example, in July 2023, ABB Ltd., an automation company hailing from Switzerland, introduced a new product called the AMI 5800 induction motor. This product, equipped with inventive modular mechanical construction and adaptable electrical designs, also includes a robust welded steel frame, improved energy efficiency, and can power up demanding applications like compressors, fans, pumps, and conveyor systems.
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Which Regions Are Becoming Hubs for AC Electric Motor Market Innovation?
Asia-Pacific was the largest region in the AC electric motor market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the AC electric motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AC Electric Motor Market?
2. What is the CAGR expected in the AC Electric Motor Market?
3. What Are the Key Innovations Transforming the AC Electric Motor Industry?
4. Which Region Is Leading the AC Electric Motor Market?
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