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Global AC Electric Motor Sales in Oil and Gas Market: By Type: Induction Motor, Synchronous Motor; By Voltage: Less than 1kV, Between 1 kV and 6.6 kV, Greater than 6.6 kV; By Output Power (HP); Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global AC Electric Motor Sales in Oil and Gas Market Outlook
The global AC electric motor sales in oil and gas market is expected to grow in the forecast period of 2022-2027 at a CAGR of 4.7% to reach USD 15.2 billion by 2026.
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Asia Pacific to Dominate the Market in the Forecast Period
AC motors have significant use in the oil and gas industry. Machines such as cranes, centrifugal and reciprocating compressors, auxiliary generators, and pumps, among others, have wide applications in the industry and use AC motors; this catalyses the market growth. Large compressors and pumps are the backbone of the oil and gas industry and are found in applications such as gas pipeline boosting stations, refrigeration trains at liquefied natural gas (LNG) plants, and petrochemical plants and refineries. Electric motors are often used as a replacement for mechanical gas turbines due to reduced downtime and low maintenance. As they allow optimum plant flow balance to be obtained with lower energy costs and high efficiency, they are suitable for application in the oil and gas industry and propel the market growth.
The Asia Pacific is one of the leading regions of the market and is expected to dominate in the forecast period. China and Japan are some of the largest markets in the regions. The rapid industrialisation and the robust demand for industrial machinery and efficient motors, especially in the oil and gas industry, are expected to drive the market for AC motors. The markets in Europe and North America are also flourishing rapidly due to various technological advancements and innovations. According to International Petroleum Industry Environmental Conservation Association (IPIECA), electric motors represent over 60-70% of electricity use in oil and gas operations solely in the United States; trends such as these are expected to boost the market growth.
AC Electric Motor Sales in Oil and Gas: Market Segmentation
AC motors are electric motors that convert alternating current into mechanical power by using an electromagnetic induction phenomenon. They may be single phased or three phased; the latter is applied in the industry to convert bulk power from electrical to mechanical, while the former is used in small power conversions such as in homes, offices, factories etc. They offer an efficient method of producing mechanical energy from a simple electrical input signal.
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The major types of AC electric motor sales in oil and gas industry are:
- Induction Motor
- Synchronous Motor
The market can be broadly categorised on the basis of voltage into:
- Less than 1kV
- Between 1 kV and 6.6 kV
- Greater than 6.6 kV
Based on the output power, the market is segmented into:
- Less than 1 HP
- Greater than 1 HP
The EMR report looks into the regional markets of AC electric motor sales in oil and gas like North America, Europe, Latin America, the Asia Pacific, and the Middle East and Africa.
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Technological Advancements to Bolster the Market Growth
With the increasing awareness about rapid climate change and the need to limit carbon dioxide emissions, the gas and oil market has become more aware of the importance of energy-efficient motors. Technological advances and innovations are crucial drivers of the industry growth. The rising demand for AC motors that can endure the most severe applications while providing high efficiency and low maintenance is also propelling the market growth. As the production, as well as consumption for oils and gas, is increasing, the demand for effective machinery is also boosting the AC electric motor in oil and gas industry.
The market is expanding due to the automation in the oil and gas sector, changing power consumption patterns and the rising demand for industrial motors. Furthermore, new product launches by the leading companies and diverse applications in other segments aid the market growth. The cost-effectiveness and low maintenance are some of the important drivers of the market growth. Moreover, AC electric motors are available in a variety of sizes and power capacities in order to function efficiently and reliably, ranging from small machine tools to powering large pumps, conveyers or hoists. Alternating current motors used in hydraulic fields and not only increase the efficiency up to 3 or 4 times but also saves energy in the process, further lubricating the industry growth.
Key Industry Players in the Global AC Electric Motor Sales in Oil and Gas Market
The report presents a detailed analysis of the following key players in the global AC electric motor sales in oil and gas market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- ABB Ltd.
- Siemens AG
- Schneider Electric SE
- Rockwell Automation, Inc.
- Toshiba International Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Voltage, Output Power (HP), Region |
| Breakup by Type | Induction Motor, Synchronous Motor |
| Breakup by Voltage | Less than 1kV, Between 1 kV and 6.6 kV, Greater than 6.6 kV |
| Breakup by Output Power (HP) | Less than 1 HP, Greater than 1 HP |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | ABB Ltd., Siemens AG, Schneider Electric SE, Rockwell Automation, Inc., Toshiba International Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global AC Electric Motor Sales in Oil and Gas Market Analysis
8.1 Key Industry Highlights
8.2 Global AC Electric Motor Sales in Oil and Gas Historical Market (2017-2021)
8.3 Global AC Electric Motor Sales in Oil and Gas Market Forecast (2022-2027)
8.4 Global AC Electric Motor Sales in Oil and Gas Market by Type
8.4.1 Induction Motor
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Synchronous Motor
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global AC Electric Motor Sales in Oil and Gas Market by Voltage
8.5.1 Less than 1kV
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Between 1 kV and 6.6 kV
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Greater than 6.6 kV
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.6 Global AC Electric Motor Sales in Oil and Gas Market by Output Power (HP)
8.6.1 Less than 1 HP
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Greater than 1 HP
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.7 Global AC Electric Motor Sales in Oil and Gas Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 ABB Ltd.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Siemens AG
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Schneider Electric SE
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Rockwell Automation, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Toshiba International Corporation
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global AC Electric Motor Sales in Oil and Gas Market: Key Industry Highlights, 2016 and 2026
2. Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Type (USD Million), 2017-2021
3. Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Type (USD Million), 2022-2027
4. Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Voltage (USD Million), 2017-2021
5. Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Voltage (USD Million), 2022-2027
6. Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Output Power (HP) (USD Million), 2017-2021
7. Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Output Power (HP) (USD Million), 2022-2027
8. Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Region (USD Million), 2017-2021
9. Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Region (USD Million), 2022-2027
10. North America AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2017-2021
11. North America AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Europe AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2017-2021
13. Europe AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Asia Pacific AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2017-2021
15. Asia Pacific AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Latin America AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2017-2021
17. Latin America AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Middle East and Africa AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2017-2021
19. Middle East and Africa AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2022-2027
20. Global AC Electric Motor Sales in Oil and Gas Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.7% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 15.2 billion by 2026.
The market is driven by the rising demand for cost-effective and high-efficiency motors in the oil gas industry.
The market is aided by the rising industrialisation and technological advances.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with the Asia Pacific accounting for the largest share in the market.
The dominant types of AC electric motor sales in oil and gas in the industry are induction motor and synchronous motor.
The market, on the basis of voltage, can be classified into less than 1kV, between 1kV and 6.6 kV, and greater than 6.6kV.
The industry can be segmented on the basis of the output power into less than 1HP and greater than 1HP.
The major players in the industry are ABB Ltd., Siemens AG, Schneider Electric SE, Rockwell Automation, Inc., and Toshiba International Corporation, among others.
Analyst Review
The global AC electric motor sales in oil and gas market is driven by the rising demand for cost-effective and high-efficiency machinery owing to the climate change and stringent government regulations. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 4.7%. The market is projected to reach USD 15.2 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the AC electric motor sales in oil and gas industry can be segmented into induction motor and synchronous motor. On the basis of voltage, the industry is divided into less than 1kV, between 1kV and 6.6kV, and greater than 6.6kV. The industry can be categorised into less than 1HP and greater than 1Hp on the basis of output power. The major regional markets for AC electric motor sales in oil and gas are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include ABB Ltd., Siemens AG, Schneider Electric SE, Rockwell Automation, Inc., and Toshiba International Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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