Electric AC Motors Market Size, Trends and Insights By Type (Induction, Synchronous), By Voltage (Integral, Fractional), By End-use Industries (Industrial Machinery, Household Appliances, HVAC Equipment, Motor Vehicles, Aerospace & Transportation, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- ABB
- Denso Corporation
- ARC Systems Inc.
- Emerson Electric Co.
- Maxon
- Johnson Electric Holdings Limited
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Electric AC Motors Market size was estimated at USD 110 billion in 2021 and is expected to reach USD 121 billion in 2022 and is anticipated to reach around USD 208 billion by 2030, growing at a CAGR of roughly 8% between 2022 and 2030.
Our research report offers a 360-degree view of the Electric AC Motors market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Electric AC Motors market.
Electric AC Motors Market: Overview
An electric motor known as an alternating current motor (AC motor) converts alternating electricity into a mechanical revolution. From converting massive industrial power to converting subtle energy for home usage, AC motors are used in various applications. The two main categories of electric ac motors are synchronous and induction. The end-use categories for electric ac motors include industrial machinery, motor vehicles, aerospace & transportation, HVAC equipment, and household appliances.
Electric AC Motors Market: COVID–19 Impact Analysis
Governments have relaxed containment standards and let industrial facilities function in 2021 due to the decline in COVID-19 patients in APAC. Due to the restriction of a small staff, the rules put in place by governments to contain the COVID-19 outbreak impacted the production process. Among the essential industries that support the expansion of the electric AC motors market in the region are consumer electronics and the automotive industry. The customer’s purchasing power has significantly dropped due to job loss or wage reductions. The decreased purchasing power affected the sales of numerous electrical appliances, including television sets, washing machines, and air conditioners. According to Automobile Industry Associations, the Indian car industry lost millions of dollars every day in 2020. Nevertheless, the demand for electric AC motors from diverse end-users has increased as the economies recover and enterprises resume their activities. Additionally, businesses may work more efficiently with a prominent worker capacity than past limits.
Electric AC Motors Market: Growth Drivers
Rising demand for electric vehicles
The sale of electric vehicles is projected to increase in the future due to a significant number of government programs, including tax rebates, grants, and other non-financial perks like access to carpool lanes and subsidies. For instance, German automakers increased their cash incentives for electric cars in November 2019 to delay the switch from internal combustion to battery-powered engines to prevent hazardous emissions. The sale of electric vehicles has increased significantly in recent decades in nations including the United States, China, and several European countries; this, in turn, will help the industry expand. Some primary drivers propelling the market’s expansion are rising consumer awareness of the benefits of energy-efficient motors, electric vehicle adoption, and electric vehicles.
Increased demand for HVAC systems
HVAC (heating, ventilation, and air conditioning) systems guarantee interior air quality and thermal comfort. They are one of the fundamental components of modern infrastructures, particularly for colossal offices or shopping complexes. To maximize their life and power and achieve high airflow system efficiency, electric AC motors are frequently employed in HVAC systems. Due to the ongoing expansion of its industrial and commercial sectors, APAC, particularly in China and India, is experiencing an increased demand for HVAC systems.
Electric AC Motors Market: Segmentation Analysis
The Electric AC Motors market is segmented into type, voltage, and end-user industries in our research scope. By type, the induction segment is estimated to hold the largest market share in 2021. These are affordable, have a straightforward design, and work well in challenging conditions. However, the synchronous market is anticipated to grow at a faster CAGR across several industries, owing to advantages such as accurate speed and position control, robust construction, and powerful torque. These products’ power factor may be set to 1.0, making them ideal for low-speed drives (less than 300 rpm). Using high-power electrical converters that generate incredibly low frequencies can run at extremely low speeds.
Synchronous motors are widely utilized for many applications because they can reach various speeds thanks to a variable frequency driving system. They also power continuously functioning machineries such as fans, centrifugal pumps, blowers, and air and ammonia compressors.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 110 Billion |
| Projected Market Size in 2030 | USD 208 Billion |
| Market Size in 2022 | USD 121 Billion |
| CAGR Growth Rate | 8% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | ABB, Denso Corporation, ARC Systems Inc., Emerson Electric Co., Maxon, Johnson Electric Holdings Limited, Nidec Corporation, Regal Rexnord Corporation, Siemens, Rockwell Automation Inc., and Others |
| Key Segment | By Type (Induction, Synchronous), By Voltage (Integral, Fractional), By End-use Industries (Industrial Machinery, Household Appliances, HVAC Equipment, Motor Vehicles, Aerospace & Transportation, Others), and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- As per the analysis shared by our research analyst, the Electric AC Motors market is estimated to grow annually at a CAGR of around 8% over the forecast period (2022-2030).
- In terms of revenue, the Electric AC Motors market size was valued at around USD 110 billion in 2021 and is projected to reach USD 208 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on type segmentation, the induction segment was predicted to show maximum market share in 2021.
- Based on the voltage segmentation, the HP output segment was the top revenue-generating category in 2021.
- Based on end-use industries segmentation, the motor vehicle segment was the top revenue-generating category in 2021.
- Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.
Recent Development
- September 2022: Sime Darby Motors signed a distribution agreement to sell BYD electric vehicles in Malaysia, including the Atto 3 and e6. The EV crossover offers both AC charging (Type 2 connection) up to 7 kW and DC fast charging (CCS2 connection), the latter at a maximum of either 70 kW or 80 kW corresponding to battery capacity – the more significant input enables for an 0-80% level of charge to be reached in 45 minutes.
- August 2022: ABB declared that it had inked an agreement to buy Siemens’ low-voltage NEMA motor division.
Regional Landscape
Asia-Pacific is anticipated to be the most lucrative region. This results from increasing demand from sectors like manufacturing, the auto industry, and the power generation industry. Additionally, the area is a hub for automation, and there is a huge need for electric cars. The region is also experiencing a marked rise in electricity demand due to China’s and India’s growing urbanization.
Competitive Landscape
Companies are getting more active in energy management programs run by the government. By participating in such programs, businesses not only boost their competitiveness but also directly benefit from lower expenses, less exposure to energy market volatility, and increased cost savings. As a result, this will present a sizable window of opportunity for the electric motor market to expand over the forecast period.
Our report offers quantitative and qualitative insights into the Electric AC Motors market and significant development initiatives adopted by the key players. Further, it provides competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and the players’ recent developments.
Prominent Players:
- ABB
- Denso Corporation
- ARC Systems Inc.
- Emerson Electric Co.
- Maxon
- Johnson Electric Holdings Limited
- Nidec Corporation
- Regal Rexnord Corporation
- Siemens
- Rockwell Automation Inc.
The global Electric AC Motors market is segmented as follows:
By Type
- Induction
- Synchronous
By Voltage
- Integral
- Fractional
By End-use Industries
- Industrial Machinery
- Household Appliances
- HVAC Equipment
- Motor Vehicles
- Aerospace & Transportation
- Others
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Electric AC Motors Market, (2022 – 2030) (USD Billion)
- 2.2 Global Electric AC Motors Market : snapshot
- Chapter 3. Global Electric AC Motors Market – Industry Analysis
- 3.1 Electric AC Motors Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising demand for electric vehicles
- 3.2.2 Increased demand for HVAC systems
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Type
- 3.7.2 Market attractiveness analysis By Voltage
- 3.7.3 Market attractiveness analysis By End-use Industries
- Chapter 4. Global Electric AC Motors Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Electric AC Motors Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Electric AC Motors Market – Type Analysis
- 5.1 Global Electric AC Motors Market overview: By Type
- 5.1.1 Global Electric AC Motors Market share, By Type, 2021 and 2030
- 5.2 Induction
- 5.2.1 Global Electric AC Motors Market by Induction, 2022 – 2030 (USD Billion)
- 5.3 Synchronous
- 5.3.1 Global Electric AC Motors Market by Synchronous, 2022 – 2030 (USD Billion)
- 5.1 Global Electric AC Motors Market overview: By Type
- Chapter 6. Global Electric AC Motors Market – Voltage Analysis
- 6.1 Global Electric AC Motors Market overview: By Voltage
- 6.1.1 Global Electric AC Motors Market share, By Voltage, 2021 and 2030
- 6.2 Integral
- 6.2.1 Global Electric AC Motors Market by Integral, 2022 – 2030 (USD Billion)
- 6.3 Fractional
- 6.3.1 Global Electric AC Motors Market by Fractional, 2022 – 2030 (USD Billion)
- 6.1 Global Electric AC Motors Market overview: By Voltage
- Chapter 7. Global Electric AC Motors Market – End-use Industries Analysis
- 7.1 Global Electric AC Motors Market overview: By End-use Industries
- 7.1.1 Global Electric AC Motors Market share, By End-use Industries, 2021 and 2030
- 7.2 Industrial Machinery
- 7.2.1 Global Electric AC Motors Market by Industrial Machinery, 2022 – 2030 (USD Billion)
- 7.3 Household Appliances
- 7.3.1 Global Electric AC Motors Market by Household Appliances, 2022 – 2030 (USD Billion)
- 7.4 HVAC Equipment
- 7.4.1 Global Electric AC Motors Market by HVAC Equipment, 2022 – 2030 (USD Billion)
- 7.5 Motor Vehicles
- 7.5.1 Global Electric AC Motors Market by Motor Vehicles, 2022 – 2030 (USD Billion)
- 7.6 Aerospace & Transportation
- 7.6.1 Global Electric AC Motors Market by Aerospace & Transportation, 2022 – 2030 (USD Billion)
- 7.7 Others
- 7.7.1 Global Electric AC Motors Market by Others, 2022 – 2030 (USD Billion)
- 7.1 Global Electric AC Motors Market overview: By End-use Industries
- Chapter 8. Electric AC Motors Industry – Regional Analysis
- 8.1 Global Electric AC Motors Industry Regional Overview
- 8.2 Global Electric AC Motors Industry Share, by Region, 2021 & 2030 (USD Billion)
- 8.3. North America
- 8.3.1 North America Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.3.1.1 North America Electric AC Motors Industry, by Country, 2022 – 2030 (USD Billion)
- 8.3.1 North America Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.4 North America Electric AC Motors Industry, by Type, 2022 – 2030
- 8.4.1 North America Electric AC Motors Industry, by Type, 2022 – 2030 (USD Billion)
- 8.5 North America Electric AC Motors Industry, by Voltage, 2022 – 2030
- 8.5.1 North America Electric AC Motors Industry, by Voltage, 2022 – 2030 (USD Billion)
- 8.6 North America Electric AC Motors Industry, by End-use Industries, 2022 – 2030
- 8.6.1 North America Electric AC Motors Industry, by End-use Industries, 2022 – 2030 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.7.1.1 Europe Electric AC Motors Industry, by Country, 2022 – 2030 (USD Billion)
- 8.7.1 Europe Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.8 Europe Electric AC Motors Industry, by Type, 2022 – 2030
- 8.8.1 Europe Electric AC Motors Industry, by Type, 2022 – 2030 (USD Billion)
- 8.9 Europe Electric AC Motors Industry, by Voltage, 2022 – 2030
- 8.9.1 Europe Electric AC Motors Industry, by Voltage, 2022 – 2030 (USD Billion)
- 8.10 Europe Electric AC Motors Industry, by End-use Industries, 2022 – 2030
- 8.10.1 Europe Electric AC Motors Industry, by End-use Industries, 2022 – 2030 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.11.1.1 Asia Pacific Electric AC Motors Industry, by Country, 2022 – 2030 (USD Billion)
- 8.11.1 Asia Pacific Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.12 Asia Pacific Electric AC Motors Industry, by Type, 2022 – 2030
- 8.12.1 Asia Pacific Electric AC Motors Industry, by Type, 2022 – 2030 (USD Billion)
- 8.13 Asia Pacific Electric AC Motors Industry, by Voltage, 2022 – 2030
- 8.13.1 Asia Pacific Electric AC Motors Industry, by Voltage, 2022 – 2030 (USD Billion)
- 8.14 Asia Pacific Electric AC Motors Industry, by End-use Industries, 2022 – 2030
- 8.14.1 Asia Pacific Electric AC Motors Industry, by End-use Industries, 2022 – 2030 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.15.1.1 Latin America Electric AC Motors Industry, by Country, 2022 – 2030 (USD Billion)
- 8.15.1 Latin America Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.16 Latin America Electric AC Motors Industry, by Type, 2022 – 2030
- 8.16.1 Latin America Electric AC Motors Industry, by Type, 2022 – 2030 (USD Billion)
- 8.17 Latin America Electric AC Motors Industry, by Voltage, 2022 – 2030
- 8.17.1 Latin America Electric AC Motors Industry, by Voltage, 2022 – 2030 (USD Billion)
- 8.18 Latin America Electric AC Motors Industry, by End-use Industries, 2022 – 2030
- 8.18.1 Latin America Electric AC Motors Industry, by End-use Industries, 2022 – 2030 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Electric AC Motors Industry, by Country, 2022 – 2030 (USD Billion)
- 8.19.1 The Middle-East and Africa Electric AC Motors Industry, 2022 – 2030 (USD Billion)
- 8.20 The Middle-East and Africa Electric AC Motors Industry, by Type, 2022 – 2030
- 8.20.1 The Middle-East and Africa Electric AC Motors Industry, by Type, 2022 – 2030 (USD Billion)
- 8.21 The Middle-East and Africa Electric AC Motors Industry, by Voltage, 2022 – 2030
- 8.21.1 The Middle-East and Africa Electric AC Motors Industry, by Voltage, 2022 – 2030 (USD Billion)
- 8.22 The Middle-East and Africa Electric AC Motors Industry, by End-use Industries, 2022 – 2030
- 8.22.1 The Middle-East and Africa Electric AC Motors Industry, by End-use Industries, 2022 – 2030 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 ABB
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Denso Corporation
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 ARC Systems Inc.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Emerson Electric Co.
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Maxon
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Johnson Electric Holdings Limited
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Nidec Corporation
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Regal Rexnord Corporation
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Siemens
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Rockwell Automation Inc.
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.1 ABB
List Of Figures
Figures No 1 to 26
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Players:
- ABB
- Denso Corporation
- ARC Systems Inc.
- Emerson Electric Co.
- Maxon
- Johnson Electric Holdings Limited
- Nidec Corporation
- Regal Rexnord Corporation
- Siemens
- Rockwell Automation Inc.
- Others
FAQs
“Asia Pacific” region will lead the global Electric AC Motors market during the forecast period 2022 to 2030.
The key factors driving the market are rising demand for electric vehicles and increased demand for HVAC systems.
The key players operating in the Electric AC Motors market are ABB, Denso Corporation, ARC Systems Inc., Emerson Electric Co., Maxon, Johnson Electric Holdings Limited, Nidec Corporation, Regal Rexnord Corporation, Siemens, Rockwell Automation Inc.
The global Electric AC Motors market is expanding growth with a CAGR of approximately 8% during the forecast period (2022 to 2030).
The global Electric AC Motors market size was valued at USD 110 Billion in 2021 and it is projected to reach around USD 180 Billion by 2030.