Global electric AC motors market size and share is currently valued at USD 101.92 billion in 2023 and is anticipated to generate an estimated revenue of USD 210.98 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 8.50% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032
Market’s Growth Drivers:
- Rising Adoption of Energy-Efficient Solutions
The global emphasis on energy efficiency has driven the demand for AC motors with improved efficiency ratings. Regulations and initiatives promoting energy conservation are encouraging industries to replace older, less efficient motors with advanced electric AC motors. - Growth in Industrial Automation
The expansion of industrial automation and the adoption of smart manufacturing practices are fueling the demand for AC motors. These motors power a variety of automated equipment, including conveyor belts, robotic arms, and machine tools, ensuring precision and reliability in operations. - Increasing Demand in HVAC Systems
The growing construction of residential, commercial, and industrial buildings is boosting the adoption of HVAC systems, which rely heavily on electric AC motors for efficient operation. The need for sustainable and energy-saving solutions in HVAC applications further drives the market.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/electric-ac-motors-market/request-for-sample
Some of the major players operating in the global market include:
- ABB Limited
- Allied Motion Technologies Inc.
- Ametek Inc.
- Asmo Co. Ltd.
- Baldor Electric Company
- Franklin Electric Co. Inc.
- Johnson Electric
- Kirloskar Electric Company
- Rockwell Automation, Inc.
- Siemens AG
Recent Developments in the Electric AC Motors Market
- 2021: Siemens AG Acquires C&S Electric
Siemens AG completed the acquisition of C&S Electric for $287 million, aiming to enhance its electric AC motor portfolio and strengthen its presence in the Indian market. This strategic move positions Siemens to meet the growing demand for advanced industrial and commercial motor solutions in the region. - 2021: General Electric Introduces MV7-5L Electric AC Motor
General Electric launched the MV7-5L electric AC motor, designed to deliver exceptional efficiency, reliability, and durability. This motor is tailored for industrial applications, including oil and gas, mining, and marine sectors, ensuring robust performance in challenging environments. - 2020: ABB Group Launches High-Efficiency Electric Motor
ABB Group unveiled a new high-efficiency motor designed to lower energy consumption and operational costs. The motor is versatile, catering to applications such as pumps, fans, and compressors, and aligns with the industry’s push towards energy-efficient and sustainable solutions.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Electric Ac Motors Market segmentation divides the market into several segments. The industry segmentation is primarily based on product type, application, end-use, and geographic factors. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges. The detailed market segmentation helps stakeholders identify the diverse needs of different consumer groups in the market. Also, it pinpoints opportunities for targeted marketing and product development strategies.
Electric AC Motors Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Synchronous AC Motors
- Asynchronous AC Motors
Electric AC Motors Market, Power Output Outlook (Revenue – USD Billion, 2019-2032)
- Up to 1HP
- Up to 1HP
- Up to 1HP
- Up to 1HP
Electric AC Motors Market, End-Use Outlook (Revenue – USD Billion, 2019-2032)
- Industrial
- Commercial
- Residential
- Automotive
- Agriculture
- Others
The electric AC motors market is evolving rapidly, driven by the increasing demand for energy-efficient, sustainable, and technologically advanced solutions. From powering industrial automation to propelling the electric vehicle revolution, AC motors are integral to numerous modern applications. Emerging trends like IoT integration, advancements in motor design, and the push for eco-friendly technologies highlight the market’s dynamic nature. As industries continue to adopt innovative and sustainable practices, the electric AC motors market is poised for significant growth and transformation.