AC Motor Market Size, Share, Growth & Trend | Forecast 2031

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AC Motor Market Size, Share, Growth & Trend | Forecast 2031

AC Motor Market Size, Share, Growth & Trend | Forecast 2031

Segments - AC Motors Market by Types (Synchronous Motors and Induction Motors), Applications (Consumer, Industrial, and Medical), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031.

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Swapnil Hedau

Report Description

AC Motors Market Outlook 2031

The global AC motor market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 6.1% during the forecast period 2023 - 2031. The growth of the market is attributed to rising demand for energy efficient motors to reduce carbon emission. Additionally, growing population and rising demand for consumer products coupled with emerging energy shortage are key factors driving the market growth.

The rising requirement for energy saving consumer appliances and other household items present a key aspect that encourages the original equipment manufacturers (OEMs) to adopt AC motors in their products. AC motor is widely considered to be effective in power consumption with higher efficiency use, due to which, the demand for AC motors are rising significantly across several end-users.

AC motor usually has outside stator wrapped with coils supplied to produce a rotating magnetic field. This motor offers several advantages such as flexible, easy to control, and low startup power demands that protects components on the receiving end. The motor is also considered to be major power sources for a series of applications due to its excellent properties and functions.

AC Motors Market Trends, Drivers, Restraints, and Opportunities

Growing concerns for reduction of carbon emissions and rising demand for energy efficient motors are anticipated to drive the AC motor market growth.
Rising electricity prices and strict regulatory standards pertaining to save electricity consumption are expected to propel the AC motor market expansion.
Escalating demand for consumer goods, increasing production of home appliances, motor vehicles, and other motor driven systems present key drivers for the AC motor market growth.
Outbreak of COVID-19 pandemic has affected the demand for electric motors and restricted the production units of manufacturers. This is projected to hamper the market growth during the forecast period.
Lack of awareness about the benefits of energy efficient AC motors act as a major restraint that can impede the growth of the AC motors market.
Owing to technological advancements and R&D activities by key players are anticipated to create immense opportunities for the AC motor market expansion.

Scope of AC Motors Market Report

The report on the global AC motor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	AC Motor Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Synchronous Motors and Induction Motors) and Applications (Consumer, Industrial, and Medical)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast
Key Players Covered in the Report	ABB Ltd., iTouchless, Honeywell International Inc., Bosch Rexroth Ag, General Electric, Siemens AG, Regal Beloit, Simplehuman LLC, Crompton Greaves Power Efficiency Corporation, and WEG Industries.

Global AC Motor Market Segment Insights

Synchronous motors segment is expected to dominate the market

Based on the types, the global AC motor market is bifurcated into synchronous and induction motors. The synchronous motors segment is expected to dominate the market during the forecast period. The segment growth can be attributed to wide adoption of the motor types by various manufacturers such as electric motor vehicle market over the induction motors.

On the other hand, the induction motors segment is anticipated to grow at a substantial growth rate in the coming years owing to rising demand for induction motor types for various applications across industries.

Consumer segment is projected to exhibit a rapid growth rate

On the basis of applications, the market is divided into consumer, industrial, and medical. The consumer segment is projected to exhibit a rapid growth rate due to increasing demand for consumer items and household products. Increasing demand for consumer goods such as air conditioners, refrigerators, washing machines, heating ventilating, and cooling equipment present some key drivers for the segment growth.

Asia Pacific is expected to hold a major market share

In terms of regions, the global AC motor market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to hold a major market share during forecast period due to increasing purchasing power of population and rising establishment of several consumer items manufacturing companies in the region.

On the other hand, the market in North America is projected to account for a large market share in the coming years owing to wide consumption of consumer items among a large number of population in the region.

Segments

The global AC motor market has been segmented on the basis of

Types

Synchronous Motors
Induction Motors

Applications

Consumer
Industrial
Medical

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

ABB Ltd.
iTouchless
Honeywell International Inc.
Bosch Rexroth Ag
General Electric
Siemens AG
Regal Beloit
Simplehuman LLC
Crompton Greaves Power Efficiency Corporation
WEG Industries

Competitive Landscape

Key players competing in the AC motors market include ABB Ltd., iTouchless, Honeywell International Inc., Bosch Rexroth Ag, General Electric, Siemens AG, Regal Beloit, Simplehuman LLC, Crompton Greaves Power Efficiency Corporation, and WEG Industries.

Technological advancements and growing focus on mergers & acquisitions among key players are expected to propel the market. For instance, ABB acquired Baldor Electric Company to expand its operation and enhance market share in North America by expanding product portfolios.

AC Motors Market Key Players

Frequently Asked Questions

1. How big is the AC Motors Market?

AC Motors Market is growing at a CAGR of 6.1% in forecast period.

2. What is the study period of AC Motors Market?

The AC Motors Market is studied from 2023 - 2031.

3. Which segment holds the largest market share?

The synchronous motors segment is expected to dominate the market during the forecast period.

4. Who are the key players in AC Motors Market?

5. Which is the fastest growing region in AC Motors Market?

Asia Pacific is expected to hold a major market share during forecast period due to increasing purchasing power of population and rising establishment of several consumer items manufacturing companies in the region.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. AC Motor Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. AC Motor Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. AC Motor Market - Supply Chain
  4.5. Global AC Motor Market Forecast
     4.5.1. AC Motor Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. AC Motor Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. AC Motor Market Absolute $ Opportunity
5. Global AC Motor Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. AC Motor Market Size and Volume Forecast by Types
     5.3.1. Synchronous Motors
     5.3.2. Induction Motors
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global AC Motor Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. AC Motor Market Size and Volume Forecast by Applications
     6.3.1. Consumer
     6.3.2. Industrial
     6.3.3. Medical
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global AC Motor Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. AC Motor Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global AC Motor Demand Share Forecast, 2019-2026
8. North America AC Motor Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America AC Motor Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America AC Motor Market Size and Volume Forecast by Types
     8.4.1. Synchronous Motors
     8.4.2. Induction Motors
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America AC Motor Market Size and Volume Forecast by Applications
     8.7.1. Consumer
     8.7.2. Industrial
     8.7.3. Medical
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America AC Motor Demand Share Forecast, 2019-2026
9. Latin America AC Motor Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America AC Motor Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America AC Motor Market Size and Volume Forecast by Types
     9.4.1. Synchronous Motors
     9.4.2. Induction Motors
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America AC Motor Market Size and Volume Forecast by Applications
     9.7.1. Consumer
     9.7.2. Industrial
     9.7.3. Medical
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America AC Motor Demand Share Forecast, 2019-2026
10. Europe AC Motor Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe AC Motor Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe AC Motor Market Size and Volume Forecast by Types
     10.4.1. Synchronous Motors
     10.4.2. Induction Motors
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe AC Motor Market Size and Volume Forecast by Applications
     10.7.1. Consumer
     10.7.2. Industrial
     10.7.3. Medical
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe AC Motor Demand Share Forecast, 2019-2026
11. Asia Pacific AC Motor Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific AC Motor Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific AC Motor Market Size and Volume Forecast by Types
     11.4.1. Synchronous Motors
     11.4.2. Induction Motors
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific AC Motor Market Size and Volume Forecast by Applications
     11.7.1. Consumer
     11.7.2. Industrial
     11.7.3. Medical
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific AC Motor Demand Share Forecast, 2019-2026
12. Middle East & Africa AC Motor Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa AC Motor Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa AC Motor Market Size and Volume Forecast by Types
     12.4.1. Synchronous Motors
     12.4.2. Induction Motors
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa AC Motor Market Size and Volume Forecast by Applications
     12.7.1. Consumer
     12.7.2. Industrial
     12.7.3. Medical
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa AC Motor Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global AC Motor Market: Market Share Analysis
  13.2. AC Motor Distributors and Customers
  13.3. AC Motor Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. ABB Ltd.
     13.4.2. iTouchless
     13.4.3. Honeywell International Inc.
     13.4.4. Bosch Rexroth Ag
     13.4.5. General Electric
     13.4.6. Siemens AG
     13.4.7. Regal Beloit
     13.4.8. Simplehuman LLC
     13.4.9. Crompton Greaves Power Efficiency Corporation
     13.4.10. WEG Industries