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Global AC Electric Motor Sales in Oil and Gas Market to Grow at a CAGR of 4.7% During 2021-2026, Driven by Technological Advancements and Innovations

AC Electric Motor Sales in Oil and Gas Market

Global AC Electric Motor Sales in Oil and Gas Market Size: 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; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

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 2024-2032 at a CAGR of 4.7% to reach USD 16.66 billion by 2032.

 

AC Electric Motor Sales in Oil and Gas Market

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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.

 

AC Electric Motor Sales in Oil and Gas Market By Segments

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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.

 

AC Electric Motor Sales in Oil and Gas Market By Region

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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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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    Opportunities and Challenges in the Market
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 (2018-2023) 
    8.3    Global AC Electric Motor Sales in Oil and Gas Market Forecast (2024-2032)
    8.4    Global AC Electric Motor Sales in Oil and Gas Market by Type
        8.4.1    Induction Motor
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Synchronous Motor
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global AC Electric Motor Sales in Oil and Gas Market by Voltage
        8.5.1    Less than 1kV
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Between 1 kV and 6.6 kV
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Greater than 6.6 kV
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    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    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Greater than 1 HP
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global AC Electric Motor Sales in Oil and Gas Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032) 
9    North America AC Electric Motor Sales in Oil and Gas Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe AC Electric Motor Sales in Oil and Gas Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific AC Electric Motor Sales in Oil and Gas  Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America AC Electric Motor Sales in Oil and  Gas Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa AC Electric Motor Sales in Oil and Gas Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    ABB Ltd.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Siemens AG
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Schneider Electric SE
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Rockwell Automation, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Toshiba International Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global AC Electric Motor Sales in Oil and Gas Market: Key Industry Highlights, 2018 and 2032
2.    Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Voltage (USD Million), 2018-2023
5.    Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Voltage (USD Million), 2024-2032
6.    Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Output Power (HP) (USD Million), 2018-2023
7.    Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Output Power (HP) (USD Million), 2024-2032
8.    Global AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa AC Electric Motor Sales in Oil and Gas Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa AC Electric Motor Sales in Oil and Gas Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global AC Electric Motor Sales in Oil and Gas Market Structure

Key Questions Answered in the Report

What is the growth rate of the market?

The market is projected to grow at a CAGR of 4.7% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 16.66 billion by 2032.

What are the major market drivers?

The increasing use of AC motors in the oil and gas sector, the growing use of electric motors as a substitute for mechanical gas turbines, and rapid industrialisation are the major market drivers.

What are the key trends of the market?

The key trends driving the market include the robust demand for industrial machinery and efficient motors, the surging awareness regarding rapid climate change, and technological advancements and innovations.

What are the major regional markets of AC electric motor sales in oil and gas, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major types of AC electric motor sales in oil and gas in the market?

The dominant types of AC electric motor sales in oil and gas in the market are induction motor and synchronous motor.

What are the significant segments based on voltage of AC electric motor sales in oil and gas market?

The significant segments based on voltage of AC electric motor sales in the oil and gas sector are less than 1kV, between 1kV and 6.6 kV, and greater than 6.6kV.

What are the major output powers of AC electric motor sales in oil and gas?

The major output powers of AC electric motor sales in oil and gas are less than 1 HP and greater than 1 HP.

Who are the key players in the AC electric motor sales in oil and gas market, according to the report?

The major players in the market 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 2024-2032, growing at a CAGR of 4.7%. The market is projected to reach USD 16.66 billion by 2032.

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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