Report Code: CMI40823

Published Date: February 2024

Pages: 320+

Category: Automotive

Report Snapshot

CAGR: 5.8%
15.1B
2022
15.9B
2023
26B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • ABB Ltd.
  • Siemens AG
  • WEG S.A.
  • Regal Beloit Corporation
  • Nidec Corporation
  • Toshiba Corporation
  • Others

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Reports Description

The Global AC Electric Motor Market is poised for significant growth from 2023 to 2032, driven by the increasing demand for energy-efficient and technologically advanced electric motors across various industries.

The market is projected to achieve a Compound Annual Growth Rate (CAGR) of approximately 5.8% during this period. In 2023, the market is estimated to be valued at USD 15.9 Billion and is expected to reach USD 26 Billion by 2032.

The adoption of AC electric motors is accelerating as industries focus on sustainability and efficiency, leading to the replacement of traditional motors with more advanced and eco-friendly alternatives.

AC Electric Motor Market – Overview

The AC Electric Motor Market involves the production and distribution of electric motors powered by alternating current (AC). These motors play a crucial role in various applications across industries, including industrial machinery, HVAC systems, and residential appliances.

The market’s growth is fueled by the increasing emphasis on energy efficiency, advancements in motor technology, and the need for sustainable solutions in the face of environmental concerns. AC electric motors are integral components in driving the transition towards greener and more efficient electrical systems.

The global AC Electric Motor Market is driven by the growing awareness among industries about the importance of energy efficiency and environmental sustainability. AC electric motors, particularly induction and synchronous motors, are favored for their ability to provide efficient and reliable power in a wide range of applications.

As industries prioritize the reduction of energy consumption and carbon emissions, the demand for AC electric motors is witnessing steady growth. Additionally, the market is influenced by technological advancements that enhance motor performance, control, and connectivity, aligning with the trend of automation and Industry 4.0.

AC electric motors serve as critical components in various applications, ranging from industrial machinery and HVAC systems to household appliances and electric vehicles. The market is witnessing increased adoption due to the advantages offered by AC motors, including higher efficiency, better controllability, and lower maintenance requirements compared to their DC counterparts.

The transition towards electric mobility, smart manufacturing, and energy-efficient systems is driving the demand for AC electric motors across different end-use industries. The market is characterized by innovation in motor design, materials, and control systems, contributing to enhanced performance and sustainability.

The increasing need for advanced machine control in the automotive sector, attributed to the remarkable efficiency of AC synchronous motors, is a driving force behind the growth of the electric motor market. Global initiatives such as Minimum Energy Performance Standards (MEPS) play a pivotal role in fostering the expansion of the market for energy-efficient electric motors.

Fractional horsepower (FHP) motors find substantial demand worldwide, primarily fueled by their integral role in material handling systems. Additionally, the rising adoption of motors with voltage ratings ranging from 21 to 60 V in the HVAC (Heating, Ventilation, and Air Conditioning) sector, driven by their effective heat dissipation properties, is expected to generate significant demand for these motors in the foreseeable future.

AC Electric Motor Market – Growth Factors

Energy Efficiency and Sustainability:

  • Opportunity: Growing awareness of the importance of energy efficiency.
  • Impact: Increased demand for energy-efficient AC electric motors to reduce energy consumption and environmental impact.

Technological Advancements:

  • Opportunity: Continuous innovation in motor design, materials, and control systems.
  • Impact: Adoption of advanced AC motors with improved performance, connectivity, and reliability.

Industry 4.0 and Automation:

  • Opportunity: Increasing adoption of Industry 4.0 practices and automation.
  • Impact: Demand for AC electric motors as integral components in automated systems and smart manufacturing.

Electric Mobility:

  • Opportunity: Rise in electric vehicle adoption.
  • Impact: Growing demand for AC electric motors in electric vehicles for propulsion and auxiliary systems.

Government Initiatives:

  • Opportunity: Supportive policies promoting energy efficiency and green technologies.
  • Impact: Stimulating market growth through incentives and regulations favoring AC electric motor adoption.

AC Electric Motor Market – Challenges

Initial Cost:

  • Challenge: Higher initial cost compared to traditional motors.
  • Impact: Affordability concerns for some industries, potentially hindering widespread adoption.

Technical Complexity:

  • Challenge: Technical complexity in integrating advanced motor technologies.
  • Impact: Potential barriers for industries with limited expertise in adopting and implementing advanced AC motor systems.

Supply Chain Disruptions:

  • Challenge: Disruptions in the supply chain affect the availability of key components.
  • Impact: Potential delays and challenges in meeting market demand due to supply chain uncertainties.

Global AC Electric Motor Market 2023–2032 (By Motor Type)

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AC Electric Motor Market – Trends

Several trends are shaping the AC Electric Motor Market. The integration of Internet of Things (IoT) technology for remote monitoring and predictive maintenance of AC motors is gaining prominence, enhancing overall system reliability.

Additionally, the use of lightweight materials and compact designs in motor construction is a notable trend, contributing to the development of more energy-efficient and space-saving solutions. The market is also witnessing an increasing focus on circular economy principles, promoting the recycling and sustainable disposal of electric motors at the end of their lifecycle.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

AC Electric Motor Market
Electric Vehicle Transmission Market Vehicle Telematics Market
CAGR 5.8% (Approx) CAGR 23.75% (Approx) CAGR 17% (Approx)
USD 26 Billion by 2032 USD 45.98 Billion by 2032 USD 172.4 Billion by 2032

AC Electric Motor Market – Restraint Factors

Initial Cost:

  • Challenge: Higher initial cost compared to traditional motors.
  • Impact: Affordability concerns for some industries, potentially hindering widespread adoption.

Technical Complexity:

  • Challenge: Technical complexity in integrating advanced motor technologies.
  • Impact: Potential barriers for industries with limited expertise in adopting and implementing advanced AC motor systems.

Supply Chain Disruptions:

  • Challenge: Disruptions in the supply chain affect the availability of key components.
  • Impact: Potential delays and challenges in meeting market demand due to supply chain uncertainties.

Legacy Systems:

  • Challenge: Existing reliance on traditional motor systems.
  • Impact: Resistance to change and transition to AC electric motors in industries with established legacy systems.

Global AC Electric Motor Market 2023–2032 (By Power Output)

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AC Electric Motor Market – Segmentation Analysis

By Motor Type:

The report provides a comprehensive breakdown of the AC Electric Motor Market based on motor types, including induction motors and synchronous motors. Induction motors dominate the market, catering to a wide range of applications with their simplicity, reliability, and cost-effectiveness.

Synchronous motors, known for their precision and efficiency, find applications in scenarios where synchronization with external factors is crucial.

By Power Output:

In 2021, the market was predominantly dominated by the 10,000 to 20,000 horsepower segment in terms of revenue, based on output power. However, the segment with 1,000 to 10,000 horsepower is projected to experience the highest Compound Annual Growth Rate (CAGR) in the forecast period.

Regarding end-user industries, the industrial machinery segment took the lead in 2022, while the “others” segment is expected to demonstrate the highest CAGR in the coming years. In the realm of sales type, new sales dominated the market in 2022 in revenue, but the aftermarket segment is poised to achieve the highest CAGR during the forecast period.

Geographically, Asia-Pacific secured the highest revenue in 2022; nevertheless, the LAMEA region is forecasted to exhibit the highest CAGR in the foreseeable future.

By End-Use Industry:

The end-use industry segmentation includes industrial, commercial, and residential applications. The industrial sector is the largest consumer of AC electric motors, utilizing them in various manufacturing processes and machinery.

Commercial applications include HVAC systems, pumps, and fans, while residential applications involve appliances such as washing machines, refrigerators, and air conditioners.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 15.9 Billion
Projected Market Size in 2032 USD 26 Billion
Market Size in 2022 USD 15.1 Billion
CAGR Growth Rate 5.8% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Motor Type, Power Output, End-Use Industry 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.

AC Electric Motor Market – Regional Analysis

The global demand for electric motors is widespread, with North America leading the market, followed by Asia-Pacific and Europe. The significant share of the North American market can be attributed to the growing demand for AC motors in the automotive sector.

Emerging markets like India and China are also experiencing substantial growth in the global electric motor market, driven by advancements in the automotive, machinery, and fan & ventilation industries, along with a heightened need for energy-efficient electric pumps.

The market is witnessing an increased demand for medium to large voltage motors, especially in emerging wind power markets, contributing to overall market expansion. However, the adoption of other energy-efficient motors as alternatives to conventional ones poses a challenge to market growth.

AC synchronous motors are in highest demand in North America, followed by Asia-Pacific, Europe, and LAMEA (Latin America, Middle East, and Africa). The dominant share in the North American market is primarily due to the increased demand for conveyors in the industrial machinery segment.

As of 2022, Asia-Pacific has emerged as the leading regional market within the global AC Electric Motor Market, boasting a substantial value of USD 30.12 billion. The primary contributors to this robust market performance are China, Japan, and India, witnessing high rates of industrialization, infrastructure development, and increasing demand for energy-efficient technologies.

The Asia-Pacific AC electric motor market experienced remarkable growth, marking a 9.2% increase over the forecast period.

Securing the second-largest regional share, North America recorded a market value of USD 14.87 billion in 2022. The North American AC electric motor market is significantly influenced by the adoption of advanced technologies in industries, government initiatives promoting energy efficiency, and a focus on sustainability.

The region demonstrated substantial growth of 7.5% over the forecast period, driven by ongoing efforts to upgrade and modernize industrial systems.

Europe, with a market value of USD 10.45 billion in 2022, holds the third-largest regional share in the global AC Electric Motor Market. The European market is characterized by stringent regulations promoting energy-efficient solutions, growing investments in renewable energy, and a push towards smart manufacturing.

The region experienced growth of 6.9% over the forecast period, reflecting the increasing emphasis on reducing carbon emissions and enhancing industrial efficiency.

In summary, the AC Electric Motor Market is poised for significant growth driven by factors such as energy efficiency awareness, technological advancements, Industry 4.0 adoption, and the rise of electric mobility.

Despite challenges related to initial costs and technical complexities, the market is expected to thrive, with Asia-Pacific leading the way in regional market share.

Global AC Electric Motor Market 2023–2032 (By Billion)

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List of the prominent players in the AC Electric Motor Market:

  • ABB Ltd.
  • Siemens AG
  • WEG S.A.
  • Regal Beloit Corporation
  • Nidec Corporation
  • Toshiba Corporation
  • Emerson Electric Co.
  • Rockwell Automation Inc.
  • Bosch Rexroth AG
  • Hitachi Ltd.
  • Mitsubishi Electric Corporation
  • Johnson Electric Holdings Limited
  • TECO Electric & Machinery Co. Ltd.
  • Ametek Inc.
  • Allied Motion Technologies Inc.
  • Others

The AC Electric Motor Market is segmented as follows:

By Motor Type

  • Induction Motor
  • Synchronous Motor

By Power Output

  • Fractional Horsepower
  • Integral Horsepower

By End-Use Industry

  • Industrial
  • Commercial
  • Residential

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • 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 AC Electric Motor Market, (2024 – 2033) (USD Billion)
    • 2.2 Global AC Electric Motor Market: snapshot
  • Chapter 3. Global AC Electric Motor Market – Industry Analysis
    • 3.1 AC Electric Motor Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Energy Efficiency and Sustainability
      • 3.2.2 Technological Advancements
      • 3.2.3 Industry 4.0 and Automation
      • 3.2.4 Electric Mobility
      • 3.2.5 Government Initiatives.
    • 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 Motor Type
      • 3.7.2 Market Attractiveness Analysis By Power Output
      • 3.7.3 Market Attractiveness Analysis By End-Use Industry
  • Chapter 4. Global AC Electric Motor Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global AC Electric Motor Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global AC Electric Motor Market – Motor Type Analysis
    • 5.1 Global AC Electric Motor Market Overview: By Motor Type
      • 5.1.1 Global AC Electric Motor Market Share, By Motor Type, 2022 and – 2033
    • 5.2 Induction Motor
      • 5.2.1 Global AC Electric Motor Market by Induction Motor, 2024 – 2033 (USD Billion)
    • 5.3 Synchronous Motor
      • 5.3.1 Global AC Electric Motor Market by Synchronous Motor, 2024 – 2033 (USD Billion)
  • Chapter 6. Global AC Electric Motor Market – Power Output Analysis
    • 6.1 Global AC Electric Motor Market Overview: By Power Output
      • 6.1.1 Global AC Electric Motor Market Share, By Power Output, 2022 and – 2033
    • 6.2 Fractional Horsepower
      • 6.2.1 Global AC Electric Motor Market by Fractional Horsepower, 2024 – 2033 (USD Billion)
    • 6.3 Integral Horsepower
      • 6.3.1 Global AC Electric Motor Market by Integral Horsepower, 2024 – 2033 (USD Billion)
  • Chapter 7. Global AC Electric Motor Market – End-Use Industry Analysis
    • 7.1 Global AC Electric Motor Market Overview: By End-Use Industry
      • 7.1.1 Global AC Electric Motor Market Share, By End-Use Industry, 2022 and – 2033
    • 7.2 Industrial
      • 7.2.1 Global AC Electric Motor Market by Industrial, 2024 – 2033 (USD Billion)
    • 7.3 Commercial
      • 7.3.1 Global AC Electric Motor Market by Commercial, 2024 – 2033 (USD Billion)
    • 7.4 Residential
      • 7.4.1 Global AC Electric Motor Market by Residential, 2024 – 2033 (USD Billion)
  • Chapter 8. AC Electric Motor Market – Regional Analysis
    • 8.1 Global AC Electric Motor Market Regional Overview
    • 8.2 Global AC Electric Motor Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America AC Electric Motor Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America AC Electric Motor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America AC Electric Motor Market, by Motor Type, 2024 – 2033
      • 8.4.1 North America AC Electric Motor Market, by Motor Type, 2024 – 2033 (USD Billion)
    • 8.5 North America AC Electric Motor Market, by Power Output, 2024 – 2033
      • 8.5.1 North America AC Electric Motor Market, by Power Output, 2024 – 2033 (USD Billion)
    • 8.6 North America AC Electric Motor Market, by End-Use Industry, 2024 – 2033
      • 8.6.1 North America AC Electric Motor Market, by End-Use Industry, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe AC Electric Motor Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe AC Electric Motor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe AC Electric Motor Market, by Motor Type, 2024 – 2033
      • 8.8.1 Europe AC Electric Motor Market, by Motor Type, 2024 – 2033 (USD Billion)
    • 8.9 Europe AC Electric Motor Market, by Power Output, 2024 – 2033
      • 8.9.1 Europe AC Electric Motor Market, by Power Output, 2024 – 2033 (USD Billion)
    • 8.10 Europe AC Electric Motor Market, by End-Use Industry, 2024 – 2033
      • 8.10.1 Europe AC Electric Motor Market, by End-Use Industry, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific AC Electric Motor Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific AC Electric Motor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific AC Electric Motor Market, by Motor Type, 2024 – 2033
      • 8.12.1 Asia Pacific AC Electric Motor Market, by Motor Type, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific AC Electric Motor Market, by Power Output, 2024 – 2033
      • 8.13.1 Asia Pacific AC Electric Motor Market, by Power Output, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific AC Electric Motor Market, by End-Use Industry, 2024 – 2033
      • 8.14.1 Asia Pacific AC Electric Motor Market, by End-Use Industry, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America AC Electric Motor Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America AC Electric Motor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America AC Electric Motor Market, by Motor Type, 2024 – 2033
      • 8.16.1 Latin America AC Electric Motor Market, by Motor Type, 2024 – 2033 (USD Billion)
    • 8.17 Latin America AC Electric Motor Market, by Power Output, 2024 – 2033
      • 8.17.1 Latin America AC Electric Motor Market, by Power Output, 2024 – 2033 (USD Billion)
    • 8.18 Latin America AC Electric Motor Market, by End-Use Industry, 2024 – 2033
      • 8.18.1 Latin America AC Electric Motor Market, by End-Use Industry, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa AC Electric Motor Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa AC Electric Motor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa AC Electric Motor Market, by Motor Type, 2024 – 2033
      • 8.20.1 The Middle-East and Africa AC Electric Motor Market, by Motor Type, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa AC Electric Motor Market, by Power Output, 2024 – 2033
      • 8.21.1 The Middle-East and Africa AC Electric Motor Market, by Power Output, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa AC Electric Motor Market, by End-Use Industry, 2024 – 2033
      • 8.22.1 The Middle-East and Africa AC Electric Motor Market, by End-Use Industry, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 ABB Ltd.
      • 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 Siemens AG
      • 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 WEG S.A.
      • 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 Regal Beloit Corporation
      • 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 Nidec Corporation
      • 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 Toshiba Corporation
      • 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 Emerson Electric Co.
      • 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 Rockwell Automation Inc.
      • 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 Bosch Rexroth AG
      • 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 Hitachi Ltd.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Mitsubishi Electric Corporation
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Johnson Electric Holdings Limited
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 TECO Electric & Machinery Co. Ltd.
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Ametek Inc.
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 Allied Motion Technologies Inc.
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Others.
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
List Of Figures

Figures No 1 to 23

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 2032

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
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • ABB Ltd.
  • Siemens AG
  • WEG S.A.
  • Regal Beloit Corporation
  • Nidec Corporation
  • Toshiba Corporation
  • Emerson Electric Co.
  • Rockwell Automation Inc.
  • Bosch Rexroth AG
  • Hitachi Ltd.
  • Mitsubishi Electric Corporation
  • Johnson Electric Holdings Limited
  • TECO Electric & Machinery Co. Ltd.
  • Ametek Inc.
  • Allied Motion Technologies Inc.
  • Others

FAQs

The key factors driving the Market are Energy Efficiency and Sustainability, Technological Advancements, Industry 4.0 and Automation, Electric Mobility And Government Initiatives.

The “Induction Motor” category dominated the market in 2022.

The key players in the market are ABB Ltd., Siemens AG, WEG S.A., Regal Beloit Corporation, Nidec Corporation, Toshiba Corporation, Emerson Electric Co., Rockwell Automation Inc., Bosch Rexroth AG, Hitachi Ltd., Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, TECO Electric & Machinery Co. Ltd., Ametek Inc., Allied Motion Technologies Inc., Others.

“North America” had the largest share in the AC Electric Motor Market.

The global market is projected to grow at a CAGR of 5.8% during the forecast period, 2023-2032.

The AC Electric Motor Market size was valued at USD 15.9 Billion in 2023.

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