Electric AC Motors Market size to grow by USD 35,850.81 million from 2022 to 2027

Jun 09, 2023

NEW YORK, July 28, 2023 /PRNewswire/ -- The electric AC motors market size is forecast to increase by USD 35850.81 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.48%, according to a recent market study by Technavio. The growth of the market will be driven by the rising factory automation and use of industrial robots, increasing demand for synchronous motors for energy efficiency, and increased interest in electric vehicles. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including ABB Ltd., Addison Electric Inc., Allied Motion Technologies Inc., Arc Systems Inc., BDI, Emerson Electric Co., General Electric Co., Hitachi Ltd., Johnson Electric Holdings Ltd., Kirloskar Electric Co. Ltd., Lenze SE, Lunar Motors Pvt. Ltd., Nidec Corp., Regal Rexnord Corp., Rockwell Automation Inc., SAS TT Electric, Schneider Electric SE, Siemens AG, TAMAGAWA SEIKI Co. Ltd., and Toshiba Corp.

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Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Electric AC Motors Market - Segmentation Assessment

The electric AC motors market report extensively covers market segmentation by type (induction and synchronous), power output (integral and fractional), and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

The market share growth by the induction segment will be significant for the market growth during the forecast period. One of the main reasons for the rapid growth of the induction segment in the global electric AC motors market is its cost advantage over synchronous motors. As induction motors have no commutator and brushes and have lower moving parts than synchronous motors, they are less expensive when compared to synchronous motors. Several applications of induction motors are oil and gas exploration tools, in-drill logging, in-drill measurement, tractor tools, rotary steering systems, formation testing tools, actuators, completion tools, and hydraulic pumps. Hence, such factors are expected to drive market growth during the forecast period.

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Electric AC Motors Market - Market Dynamics

Key Drivers

Increasing factory automation and the use of industrial robots drive the global electric AC motors market growth during the forecast period. There is a rising need for high-precision production in a shorter time due to the growing demand for products across various industries, such as consumer electronics, healthcare, and automobiles. Some of the key automation and advancement of IoT and artificial intelligence (AI) in these industries have enabled the use of robots in manufacturing processes. Hence, such developments require the need for electric AC motors are positively impacting the market. Therefore, such factors are expected to drive the global electric AC motors market growth during the forecast period.

Significant Trends

The rising focus on using energy-efficient motors is a key trend in the global electric AC motors market during the forecast period. Several governments across the world offer tax or financial incentives for programs that enhance energy efficiency. For instance, the US government provides several federal and state tax credits to encourage energy efficiency concepts in both businesses and homes. Thus the growing focus on energy efficiency is significantly fuelling the demand for AC electric motors in various applications. There is an increase in investments in EVs by many countries such as China, the UK, India, and Germany as conventional vehicles highly depend on fossil fuels such as gasoline and diesel which are leading to air pollution. Hence, such initiatives are positively impacting the market. Therefore, such factors are expected to drive the global electric AC motors market growth during the forecast period.

Major Challenges

Limitations of power rating are a significant challenge hindering the growth of the global electric AC motors market during the forecast period. High-performance AC motor accessories require strong permanent magnets which are very expensive and hence add to the overall cost of manufacturing. The strong permanent magnets are manufactured from rare earth materials such as neodymium, whose prices tend to fluctuate due to their limited availability in some countries such as China and Australia. Furthermore, several incidences of trade wars in which China has limited the export of such rare metals which has significantly contributed to the huge supply and demand gap, which has influenced the neodymium prices. Hence, such factors are expected to hinder the global electric motors accessories market growth during the forecast period.

What are the key data covered in this Electric AC Motors Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the electric AC motors market between 2023 and 2027

Precise estimation of the electric AC motors market size and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the electric AC motors market across APAC, Europe, North America, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of electric AC motors market vendors

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Electric AC Motors Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.48%

Market growth 2023-2027

USD 35850.81 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.41

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 51%

Key countries

US, China, Japan, Germany, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Addison Electric Inc., Allied Motion Technologies Inc., Arc Systems Inc., BDI, Emerson Electric Co., General Electric Co., Hitachi Ltd., Johnson Electric Holdings Ltd., Kirloskar Electric Co. Ltd., Lenze SE, Lunar Motors Pvt. Ltd., Nidec Corp., Regal Rexnord Corp., Rockwell Automation Inc., SAS TT Electric, Schneider Electric SE, Siemens AG, TAMAGAWA SEIKI Co. Ltd., and Toshiba Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global electric alternating current (AC) motors market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 Power Output Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Induction - Market size and forecast 2022-2027

6.4 Synchronous - Market size and forecast 2022-2027

6.5 Market opportunity by Type

7 Market Segmentation by Power Output

7.1 Market segments

7.2 Comparison by Power Output

7.3 Integral - Market size and forecast 2022-2027

7.4 Fractional - Market size and forecast 2022-2027

7.5 Market opportunity by Power Output

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 France - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 ABB Ltd.

12.4 Allied Motion Technologies Inc.

12.5 Arc Systems Inc.

12.6 Emerson Electric Co.

12.7 General Electric Co.

12.8 Hitachi Ltd.

12.9 Johnson Electric Holdings Ltd.

12.10 Kirloskar Electric Co. Ltd.

12.11 Nidec Corp.

12.12 Regal Rexnord Corp.

12.13 Rockwell Automation Inc.

12.14 SAS TT Electric

12.15 Schneider Electric SE

12.16 Siemens AG

12.17 Toshiba Corp.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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SOURCE Technavio