Electric AC Motors Market size was valued at US$ 110.59 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 7.5% from 2022 to 2029, reaching nearly US$ 197.23 Bn.
Market Overview
The report covers the Electric AC Motors market's most recent revenue and market trends. It provides a market overview, definition, and structure, as well as preventative and pre-planned management. The report focuses on the factors that influence the Electric AC Motors Market, such as gross margin, cost, market share, capacity utilization, and supply. It also aids in determining the future potential of the Electric AC Motors Market in the next few years during the forecast period. The report provides a market overview through common subjects that are highlighted with unique data based on the need. The overview aids in making decisions about how to approach the market and comprehending the industry's backdrop.
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Market Scope
The report focuses on the major key drivers and restraints for key companies, as well as the current competitive benchmarking and development prospects. The report provides current Electric AC Motors market trends and future insights in terms of demand, supply chain, and sales, as well as recent changes in the market. Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price, and Gross Margin Sales by Product are all included in this Electric AC Motors market research report.
Market Dynamics:
Electric AC motors are used in compressors, stationary cranes, diesel-electric engines, and home appliances. Due to their key characteristics, which include cost effectiveness and efficient operation in harsh environments, they are suitable for a variety of applications. These high-efficiency items are predicted to grow quickly due to their low maintenance needs, lengthy lifespans, and low power consumption.
Segmentation:
The market is divided into Synchronous AC Motors and Induction AC Motors based on Type. By 2029, the Synchronous AC Motors segment is anticipated to have the largest market share. Synchronous motors are typically more energy-efficient than induction motors, though they can occasionally achieve efficiencies of more than 90%. A synchronous motor without a load attached to its shaft is used to improve power factor. Because of its ability to function at any electrical power factor and the cost of static capacitors, it is used in power systems.
The market is divided into industrial machinery, automobiles, HVAC equipment, aerospace transportation, home appliances, and others based on end-use. Motor manufacturers have many opportunities in this market because most industries rely on motorised automation. A wide range of industries, including utilities, oil gas, cement, mining, renewables, petrochemicals, chemicals, and water wastewater treatment, use electric AC motors for pumps, boilers, compressors, and other applications.
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Key Players
• Siemens AG
• Kirloskar Electric Company
• Johnson Electric
• Rockwell Automation, Inc.
• Baldor Electric Company
• Allied Motion Technologies Inc.
• Ametek Inc.
• Asmo Co. Ltd.
• Franklin Electric Co. Inc.
• ABB
• Chinabase Machinery
• CRRC Zhuzhou Electric Co., Ltd.
• Elprom Harmanli
• Toshiba Corporation
• Nidec Corporation
• Wolong
• WEG
• TECO Electric Machinery
Regional Analysis
Electric AC Motors Region dominated the Electric AC Motors Market in 2021 and is expected to witness significant growth during the forecast period. Government initiatives in the sector and regulations and rein in rising expenses drive the Electric AC Motors Market growth in the region. The Electric AC Motors market report includes a geographic condition of the market, and revenue as well as in-depth research into the business network structure, opportunities, and news updates.
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Key Questions answered in the Electric AC Motors Market Report are:
- What is Electric AC Motors Market?
- What is the forecast period of the Electric AC Motors Market?
- What is the competitive scenario of the Electric AC Motors market?
- Which region held the largest market share in the Electric AC Motors Market?
- What are the opportunities for the Electric AC Motors Market?
- What factors are affecting the Electric AC Motors market growth?
- Who are the key players of the Electric AC Motors market?
- Which company held the largest share in the Electric AC Motors market?
- What will be the CAGR of the Electric AC Motors market during the forecast period?
- What key trends are likely to emerge in the Electric AC Motors market in the coming years?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Electric AC Motors
- Landscape- Leading key players and other prominent key players.
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