PUBLISHER: KBV Research | PRODUCT CODE: 1461705
PUBLISHER: KBV Research | PRODUCT CODE: 1461705
North America AC Electric Motor Market Size, Share & Trends Analysis Report By Sales Type (New Sales, and Aftermarket), By Output Power, By End-Use (Industrial Machinery, HVAC, Transportation, and Others), By Country and Growth Forecast, 2023 - 2030
The North America AC Electric Motor Market would witness market growth of 3.9% CAGR during the forecast period (2023-2030).
The US market dominated the North America AC Electric Motor Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,743.1 Million by 2030. The Canada market is showcasing a CAGR of 6.2% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 5.3% during (2023 - 2030).
AC electric motors drive heavy machinery and equipment used in mining, construction, and earthmoving applications. They power excavators, bulldozers, loaders, crushers, and drilling rigs, providing the high torque and rugged performance required for demanding operating conditions in mining sites and construction projects. AC motors offer reliability, durability, and efficiency in challenging environments such as quarries, mines, and construction sites. The expansion of the mining sector provides a growth environment for the market.
Several trends are shaping the market landscape, reflecting industry dynamics, technological advancements, and evolving customer preferences. For instance, integrating smart technologies and internet of things (IoT) capabilities into AC motor systems is gaining momentum. Smart motors with sensors, connectivity features, and advanced analytics enable real-time monitoring, predictive maintenance, and remote diagnostics. These smart motor systems offer insights into motor performance, health, and energy consumption, facilitating proactive maintenance strategies, optimizing operational efficiency, and minimizing downtime.
If Canada's electronics manufacturing industry expands, there will be a greater need for AC electronic motors, which are a component of many types of manufacturing machinery. These motors are essential for powering conveyor belts, robotic arms, pick-and-place machines, CNC machines, and other automated systems used in electronics assembly. According to the Government of Canada, in 2021, electronics manufacturing revenues reached $15.5 billion compared to $14.4 billion in 2020, an increase of 8.1% in Canada. Total revenues were $17.9 billion in 2021, increasing from $16.3 billion in 2020. In 2021, net revenues reached $2.02 billion compared to $1.96 billion in 2020, or an increase of 3%. Therefore, the growing mining sector and increasing electronics manufacturing in the region drive the market's growth.
Based on Sales Type, the market is segmented into New Sales, and Aftermarket. Based on Output Power, the market is segmented into 1,000 HP up to 10,000 HP, 10,000 HP up to 20,000 HP, and 20,000 HP up to 30,000 HP. Based on End-Use, the market is segmented into Industrial Machinery, HVAC, Transportation, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- WEG Equipamentos Eletricos SA
- Toshiba Corporation
- General Electric Company
- Hitachi, Ltd.
- ABB Ltd.
- Nidec Corporation
- Siemens AG
- Kirloskar Electric Co. Ltd.
- Schneider Electric SE
- Emerson Electric Co.
North America AC Electric Motor Market Report Segmentation
By Sales Type
- New Sales
- Aftermarket
By Output Power
- 1,000 HP up to 10,000 HP
- 10,000 HP up to 20,000 HP
- 20,000 HP up to 30,000 HP
By End Use
- Industrial Machinery
- HVAC
- Transportation
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1North America AC Electric Motor Market, by Sales Type
- 1.4.2North America AC Electric Motor Market, by Output Power
- 1.4.3North America AC Electric Motor Market, by End Use
- 1.4.4North America AC Electric Motor Market, by Country
- 1.5Methodology for the research
Chapter 2.Market at a Glance
- 2.1Key Highlights
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.1.1Overview
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter Five Forces Analysis
Chapter 4.Strategies Deployed in AC Electric Motor Market
Chapter 5.North America AC Electric Motor Market by Sales Type
- 5.1North America New Sales Market by Region
- 5.2North America Aftermarket Market by Region
Chapter 6.North America AC Electric Motor Market by Output Power
- 6.1North America 1,000 HP up to 10,000 HP Market by Country
- 6.2North America 10,000 HP up to 20,000 HP Market by Country
- 6.3North America 20,000 HP up to 30,000 HP Market by Country
Chapter 7.North America AC Electric Motor Market by End-Use
- 7.1North America Industrial Machinery Market by Country
- 7.2North America HVAC Market by Country
- 7.3North America Transportation Market by Country
- 7.4North America Others Market by Country
Chapter 8.North America AC Electric Motor Market by Country
- 8.1US AC Electric Motor Market
- 8.1.1US AC Electric Motor Market by Sales Type
- 8.1.2US AC Electric Motor Market by Output Power
- 8.1.3US AC Electric Motor Market by End-Use
- 8.2Canada AC Electric Motor Market
- 8.2.1Canada AC Electric Motor Market by Sales Type
- 8.2.2Canada AC Electric Motor Market by Output Power
- 8.2.3Canada AC Electric Motor Market by End-Use
- 8.3Mexico AC Electric Motor Market
- 8.3.1Mexico AC Electric Motor Market by Sales Type
- 8.3.2Mexico AC Electric Motor Market by Output Power
- 8.3.3Mexico AC Electric Motor Market by End-Use
- 8.4Rest of North America AC Electric Motor Market
- 8.4.1Rest of North America AC Electric Motor Market by Sales Type
- 8.4.2Rest of North America AC Electric Motor Market by Output Power
- 8.4.3Rest of North America AC Electric Motor Market by End-Use
Chapter 9.Company Profiles
- 9.1WEG Equipamentos Eletricos SA
- 9.1.1Company Overview
- 9.1.2Financial Analysis
- 9.1.3Regional Analysis
- 9.1.4Recent strategies and developments:
- 9.1.4.1Partnerships, Collaborations, and Agreements:
- 9.1.4.2Product Launches and Product Expansions:
- 9.1.4.3Acquisition and Mergers:
- 9.1.5SWOT Analysis
- 9.2Toshiba Corporation
- 9.2.1Company Overview
- 9.2.2Financial Analysis
- 9.2.3Segmental and Regional Analysis
- 9.2.4Research and Development Expense
- 9.2.5SWOT Analysis
- 9.3General Electric Company
- 9.3.1Company Overview
- 9.3.2Financial Analysis
- 9.3.3Segmental and Regional Analysis
- 9.3.4Research & Development Expense
- 9.3.5SWOT Analysis
- 9.4Hitachi, Ltd.
- 9.4.1Company Overview
- 9.4.2Financial Analysis
- 9.4.3Segmental and Regional Analysis
- 9.4.4Research & Development Expenses
- 9.4.5SWOT Analysis
- 9.5ABB Ltd.
- 9.5.1Company Overview
- 9.5.2Financial Analysis
- 9.5.3Segmental and Regional Analysis
- 9.5.4Research & Development Expense
- 9.5.5Recent strategies and developments:
- 9.5.5.1Product Launches and Product Expansions:
- 9.5.6SWOT Analysis
- 9.6Nidec Corporation
- 9.6.1Company Overview
- 9.6.2Financial Analysis
- 9.6.3Segmental and Regional Analysis
- 9.6.4Research & Development Expense
- 9.6.5Recent strategies and developments:
- 9.6.5.1Product Launches and Product Expansions:
- 9.7Siemens AG
- 9.7.1Company Overview
- 9.7.2Financial Analysis
- 9.7.3Segmental and Regional Analysis
- 9.7.4Research & Development Expense
- 9.7.5SWOT Analysis
- 9.8Kirloskar Electric Co. Ltd.
- 9.8.1Company Overview
- 9.8.2Financial Analysis
- 9.8.3Segmental Analysis
- 9.9Schneider Electric SE
- 9.9.1Company Overview
- 9.9.2Financial Analysis
- 9.9.3Segmental and Regional Analysis
- 9.9.4Research & Development Expense
- 9.9.5Recent strategies and developments:
- 9.9.5.1Partnerships, Collaborations, and Agreements:
- 9.9.6SWOT Analysis
- 9.10.Emerson Electric Co.
- 9.10.1Company Overview
- 9.10.2Financial Analysis
- 9.10.3Segmental and Regional Analysis
- 9.10.4Research & Development Expense
- 9.10.5SWOT Analysis
LIST OF TABLES
- TABLE 1North America AC Electric Motor Market, 2019 - 2022, USD Million
- TABLE 2North America AC Electric Motor Market, 2023 - 2030, USD Million
- TABLE 3North America AC Electric Motor Market by Sales Type, 2019 - 2022, USD Million
- TABLE 4North America AC Electric Motor Market by Sales Type, 2023 - 2030, USD Million
- TABLE 5North America New Sales Market by Region, 2019 - 2022, USD Million
- TABLE 6North America New Sales Market by Region, 2023 - 2030, USD Million
- TABLE 7North America Aftermarket Market by Region, 2019 - 2022, USD Million
- TABLE 8North America Aftermarket Market by Region, 2023 - 2030, USD Million
- TABLE 9North America AC Electric Motor Market by Output Power, 2019 - 2022, USD Million
- TABLE 10North America AC Electric Motor Market by Output Power, 2023 - 2030, USD Million
- TABLE 11North America 1,000 HP up to 10,000 HP Market by Country, 2019 - 2022, USD Million
- TABLE 12North America 1,000 HP up to 10,000 HP Market by Country, 2023 - 2030, USD Million
- TABLE 13North America 10,000 HP up to 20,000 HP Market by Country, 2019 - 2022, USD Million
- TABLE 14North America 10,000 HP up to 20,000 HP Market by Country, 2023 - 2030, USD Million
- TABLE 15North America 20,000 HP up to 30,000 HP Market by Country, 2019 - 2022, USD Million
- TABLE 16North America 20,000 HP up to 30,000 HP Market by Country, 2023 - 2030, USD Million
- TABLE 17North America AC Electric Motor Market by End-Use, 2019 - 2022, USD Million
- TABLE 18North America AC Electric Motor Market by End-Use, 2023 - 2030, USD Million
- TABLE 19North America Industrial Machinery Market by Country, 2019 - 2022, USD Million
- TABLE 20North America Industrial Machinery Market by Country, 2023 - 2030, USD Million
- TABLE 21North America HVAC Market by Country, 2019 - 2022, USD Million
- TABLE 22North America HVAC Market by Country, 2023 - 2030, USD Million
- TABLE 23North America Transportation Market by Country, 2019 - 2022, USD Million
- TABLE 24North America Transportation Market by Country, 2023 - 2030, USD Million
- TABLE 25North America Others Market by Country, 2019 - 2022, USD Million
- TABLE 26North America Others Market by Country, 2023 - 2030, USD Million
- TABLE 27North America AC Electric Motor Market by Country, 2019 - 2022, USD Million
- TABLE 28North America AC Electric Motor Market by Country, 2023 - 2030, USD Million
- TABLE 29US AC Electric Motor Market, 2019 - 2022, USD Million
- TABLE 30US AC Electric Motor Market, 2023 - 2030, USD Million
- TABLE 31US AC Electric Motor Market by Sales Type, 2019 - 2022, USD Million
- TABLE 32US AC Electric Motor Market by Sales Type, 2023 - 2030, USD Million
- TABLE 33US AC Electric Motor Market by Output Power, 2019 - 2022, USD Million
- TABLE 34US AC Electric Motor Market by Output Power, 2023 - 2030, USD Million
- TABLE 35US AC Electric Motor Market by End-Use, 2019 - 2022, USD Million
- TABLE 36US AC Electric Motor Market by End-Use, 2023 - 2030, USD Million
- TABLE 37Canada AC Electric Motor Market, 2019 - 2022, USD Million
- TABLE 38Canada AC Electric Motor Market, 2023 - 2030, USD Million
- TABLE 39Canada AC Electric Motor Market by Sales Type, 2019 - 2022, USD Million
- TABLE 40Canada AC Electric Motor Market by Sales Type, 2023 - 2030, USD Million
- TABLE 41Canada AC Electric Motor Market by Output Power, 2019 - 2022, USD Million
- TABLE 42Canada AC Electric Motor Market by Output Power, 2023 - 2030, USD Million
- TABLE 43Canada AC Electric Motor Market by End-Use, 2019 - 2022, USD Million
- TABLE 44Canada AC Electric Motor Market by End-Use, 2023 - 2030, USD Million
- TABLE 45Mexico AC Electric Motor Market, 2019 - 2022, USD Million
- TABLE 46Mexico AC Electric Motor Market, 2023 - 2030, USD Million
- TABLE 47Mexico AC Electric Motor Market by Sales Type, 2019 - 2022, USD Million
- TABLE 48Mexico AC Electric Motor Market by Sales Type, 2023 - 2030, USD Million
- TABLE 49Mexico AC Electric Motor Market by Output Power, 2019 - 2022, USD Million
- TABLE 50Mexico AC Electric Motor Market by Output Power, 2023 - 2030, USD Million
- TABLE 51Mexico AC Electric Motor Market by End-Use, 2019 - 2022, USD Million
- TABLE 52Mexico AC Electric Motor Market by End-Use, 2023 - 2030, USD Million
- TABLE 53Rest of North America AC Electric Motor Market, 2019 - 2022, USD Million
- TABLE 54Rest of North America AC Electric Motor Market, 2023 - 2030, USD Million
- TABLE 55Rest of North America AC Electric Motor Market by Sales Type, 2019 - 2022, USD Million
- TABLE 56Rest of North America AC Electric Motor Market by Sales Type, 2023 - 2030, USD Million
- TABLE 57Rest of North America AC Electric Motor Market by Output Power, 2019 - 2022, USD Million
- TABLE 58Rest of North America AC Electric Motor Market by Output Power, 2023 - 2030, USD Million
- TABLE 59Rest of North America AC Electric Motor Market by End-Use, 2019 - 2022, USD Million
- TABLE 60Rest of North America AC Electric Motor Market by End-Use, 2023 - 2030, USD Million
- TABLE 61Key Information - WEG Equipamentos Eletricos SA
- TABLE 62Key Information - Toshiba Corporation
- TABLE 63Key Information - General Electric Company
- TABLE 64Key Information - Hitachi, Ltd.
- TABLE 65Key Information - ABB Ltd.
- TABLE 66Key Information - Nidec Corporation
- TABLE 67Key Information - Siemens AG
- TABLE 68Key Information - Kirloskar Electric Co., Ltd.
- TABLE 69Key Information - Schneider Electric SE
- TABLE 70Key Information - Emerson Electric Co.
