Press release
AC Electric Motor Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
AC Electric Motor Market
How Large Will the AC Electric Motor Market Size By 2025?
In recent times, the AC electric motor market has been experiencing a consistent growth. The market, which is expected to expand from $17.3 billion in 2024 to $18.08 billion in 2025 will achieve a compound annual growth rate (CAGR) of 4.5%. Contributing factors to this growth during the historic period may include the demand for industrial automation, the rising adoption of electric vehicles, stringent energy efficiency norms, development in urban infrastructure and progression in the manufacturing sector.
How Big Is the AC Electric Motor Market Size Expected to Grow by 2029?
Growth is anticipated in the AC electric motor market in the forthcoming years, with projections suggesting a rise to a valuation of $22.47 billion in 2029 and a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this outlook for the forecast period include the proliferation of smart manufacturing, the surge in electric mobility, expanding industrial digitization, infrastructure upgrades, and an emphasis on energy conservation. The period is also predicted to see major trends like progress in motor control technology, combination with internet of things platforms, the introduction of highly-efficient motors, innovative cooling systems, and the application of sophisticated materials in motor design.
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Which Key Market Drivers Powering AC Electric Motor Market Expansion and Growth?
The rise in industrial automation is anticipated to boost the AC electric motor market's progress. This type of automation involves utilizing control systems like computers and robots to manage industrial operations with minimal human input, enhancing the speed, precision, and safety of production, and reducing labor costs. The demand for efficiency, accuracy, and cost-effectiveness in manufacturing processes is driving the increase of industrial automation, enabling businesses to stay competitive in a fast-paced market. AC electric motors contribute to industrial automation by providing accurate speed and torque control for robotic arms and automated machinery. For example, the International Federation of Robotics (IFR), a non-profit organization based in Germany, reported in September 2024 that industrial robot installations in the UK increased by 51% to 3,830 units. Meanwhile, in the Americas, over 50,000 units were installed for the third year in a row, totaling 55,389 units in 2023. Consequently, the rise in industrial automation is spurring the AC electric motor market's growth.
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Which Emerging Trends Are Transforming the AC Electric Motor Market in 2025?
Major firms in the AC electric motor market are concentrating on innovative technologies such as energy-efficient electric motors that allow for decreased energy usage and heightened performance. These energy-efficient motors are designed to use less electricity while providing equivalent or better performance than traditional motors, a feat that can be achieved with cutting-edge technologies like optimized winding, superior cooling systems, and high-quality materials that minimize energy wastage. For example, ABB Ltd., an automation firm based in Switzerland, introduced the innovative AMI 5800 induction motor in July 2023. This motor boasts unique modular mechanical design and adaptable electrical layouts, along with a robust welded steel frame and high energy efficiency, making it suitable for powering rigorous applications such as pumps, compressors, fans, and conveyors.
What Are the Emerging Segments in the AC Electric Motor Market?
The AC electric motormarket 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, Aftermarket
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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Who Are the Global Leaders in the AC Electric Motor Market?
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
Which are the Top Profitable Regional Markets for the AC Electric Motor Industry?
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.
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