Electric AC Motors Market by Type, Voltage, End Use

List of Tables

[194 Pages Report] The Electric AC Motors Market size was estimated at USD 14.49 billion in 2023 and expected to reach USD 15.05 billion in 2024, at a CAGR 4.23% to reach USD 19.38 billion by 2030.

Electric AC motors are electromechanical devices that transform electrical energy into mechanical energy through the interaction between the motor's magnetic field and electric current in a wire winding. This conversion process allows for force generation in the form of torque applied on the motor's shaft. AC motors are distinguished by their ability to operate on alternating current, which changes direction periodically. Electric AC motors are widely used in various applications due to their versatility, efficiency, and capability to control speeds over a wide range. The market's growth is propelled by technological innovations, regulatory policies aimed at reducing energy consumption, and the rise in urbanization and industrial activities. Emerging trends, such as the move towards renewable energy, the electrification of transport, and advancements in smart grids and IoT, along with the need to replace aging industrial machinery, offer substantial opportunities for market expansion. However, challenges such as the high initial cost of advanced technologies, market saturation, and supply chain vulnerabilities must be navigated. Furthermore, innovations in energy efficiency, material science, smart motor technologies, and the integration with renewable energy sources are vital research and development areas to sustain market growth and address future demands.

KEY MARKET STATISTICS
Base Year [2023]	USD 14.49 billion
Estimated Year [2024]	USD 15.05 billion
Forecast Year [2030]	USD 19.38 billion
CAGR (%)	4.23%

Type: Increasing preference for induction AC motors for its ease of use and cost efficiency

Induction motors, also known as asynchronous motors, operate on the principle of electromagnetic induction, favored for their simplicity, robustness, and cost-effectiveness. They are widely utilized in various applications, from household appliances to industrial machinery. Induction motors are preferred in applications where speed variation is not critical, and cost efficiency is paramount. Their durability and low maintenance requirements make them ideal for continuous operation settings, such as conveyor belts, pumps, and fans. Synchronous motors operate at a constant speed up to its full load. They are characterized by their ability to operate at precise speed and position control, making them suited for applications where precision is crucial. These motors apply in scenarios that demand high precision and efficiency, such as robotics, elevators, and certain compressors. The capability to maintain a constant speed under varying loads is particularly beneficial in industries where process control and precision are necessary. When comparing induction and synchronous AC motors, several factors are considered. Induction motors boast ease of use, maintenance, and cost-efficiency, making them suitable for various general-purpose applications. On the other hand, synchronous motors are preferred for applications demanding precise speed and position control despite being generally more expensive and complex to maintain.

End Use: Expanding usage of electric AC motors in household appliances

The aerospace & transportation segment integrates advanced electric AC motors primarily for propulsion and control systems. Need-based preferences here lean towards highly durable, efficient, and lightweight motors capable of operating in rigorous conditions. In the household appliances sector, electric AC motors are ubiquitous, powering a wide range of products from washing machines to refrigerators. Consumers prioritize quiet operation, energy efficiency, and reliability. HVAC equipment demands electric AC motors that offer high efficiency, durability, and variable speed capabilities to adjust dynamically to cooling and heating needs. The industrial machinery segment utilizes electric AC motors in various applications, from automated production lines to heavy machinery. The critical requirement is for motors that can provide high torque, precision, and adaptability to various industrial processes. Electric AC motors have revolutionized the motor vehicles sector, particularly electric and hybrid vehicles. For this segment, the focus is on motors that deliver high power density, efficiency, and performance.

Regional Insights

The Americas region is witnessing a robust demand for electric AC motors, primarily driven by the United States. The adoption of electric AC motors is high in the manufacturing, automotive, heating, ventilation, and air conditioning (HVAC) sectors. Initiatives towards energy efficiency and green energy are propelling the market forward. The presence of key manufacturers and technological advancements in motor designs contribute to the growth of the electric AC motors market in the American region. The Asia-Pacific region is witnessing rapid adoption of electric AC motors, particularly in countries such as China, India, and Japan. The factors fueling the growth of the electric AC motor market in the Asia-Pacific region include rapid industrialization, expansion of manufacturing facilities, and increased investments in infrastructure development. The region benefits from the availability of cost-effective labor and materials, making it a global manufacturing hub for electric AC motors. The automotive and consumer electronics sectors are significant contributors to the demand in the region. The EMEA region showcases steady growth in the electric AC motors market, driven by the increasing focus on renewable energy, regulatory support for energy-efficient motors, and the modernization of industrial machinery, especially in European countries. The Middle East and Africa are also emerging as significant markets, with investments in infrastructure and energy sectors.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric AC Motors Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric AC Motors Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electric AC Motors Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Allient Inc., Ametek Inc., BorgWarner Inc., Danfoss A/S, DENSO Corporation, Emerson Electric Co., Farmtech Industries, Franklin Electric Co. Inc., General Electric Company, Groschopp AG, Hitachi Ltd., Hiwin Corporation, Johnson Electric Holdings Ltd., Kirloskar Electric Company, Mitsubishi Electric Corporation, Nidec Motor Corporation, OMEGA Engineering inc., Regal Rexnord Corporation, Renesas Electronics Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, SEW-EURODRIVE GmbH & Co KG, Siemens AG, Sinotech, Toyota Material Handling, Inc., Wolong Electric Group, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Electric AC Motors Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Induction AC Motors
- Synchronous AC Motors

Voltage
- Fractional HP Output
- Integral HP Output

End Use
- Aerospace & Transportation
- Household Appliances
- HVAC Equipment
- Industrial Machinery
- Motor Vehicles

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Electric AC Motors Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric AC Motors Market?

3. What are the technology trends and regulatory frameworks in the Electric AC Motors Market?

4. What is the market share of the leading vendors in the Electric AC Motors Market?

5. Which modes and strategic moves are suitable for entering the Electric AC Motors Market?

Product Code: MRR-43798151B674

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Burgeoning shift toward smart manufacturing and Industry 4.0
  - 5.1.1.2. Government regulations promoting energy efficiency and rising emphasis on reducing greenhouse gas emissions
- 5.1.2. Restraints
  - 5.1.2.1. High initial costs and technical limitations associated with the electric AC motor
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing innovations in motor efficiency and integration with IoT for predictive maintenance
  - 5.1.3.2. Expanding application of electric AC motors in heating, ventilation, and air conditioning (HVAC)
- 5.1.4. Challenges
  - 5.1.4.1. Lack of technical expertise in the installation and maintenance
5.2. Market Segmentation Analysis
- 5.2.1. Type: Increasing preference for induction AC motors for its ease of use and cost efficiency
- 5.2.2. End Use: Expanding usage of electric AC motors in household appliances
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Electric AC Motors Market, by Type

6.1. Introduction
6.2. Induction AC Motors
6.3. Synchronous AC Motors

7. Electric AC Motors Market, by Voltage

7.1. Introduction
7.2. Fractional HP Output
7.3. Integral HP Output

8. Electric AC Motors Market, by End Use

8.1. Introduction
8.2. Aerospace & Transportation
8.3. Household Appliances
8.4. HVAC Equipment
8.5. Industrial Machinery
8.6. Motor Vehicles

9. Americas Electric AC Motors Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Electric AC Motors Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Electric AC Motors Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. WorldWide Electric Corporation Announces the Acquisition of North American Electric, Inc.
- 12.3.2. WEG Acquires Industrial Electric Motors and Generators Business from Regal Rexnord
- 12.3.3. ZF Makes Magnet-Free Electric Motor Uniquely Compact and Competitive
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio