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Induction AC Electric Motor Market

Global Induction AC Electric Motor Market Size, Forecast: By Type: < 1 kV, 1 kV – 6.6 kV, > 6.6 kV; By Efficiency Rating; IE1, IE2, IE3, IE4; By Speed: Ultra-High-Speed Motors, High-Speed Motors, Medium Speed Motors, Low Speed Motors; By End Use: Industrial, Motor Vehicle, HVAC, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Induction AC Electric Motor Market Outlook

The induction AC electric motor market stood at a value of around USD 25.60 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 13.7% to reach USD 81.29 billion by 2032.

 

Growing Demand for High-Speed Motors to Aid the Global Induction AC Electric Motor Industry

High-speed motors are likely to gain traction in various end use industries due to the significant advantages offered by the product. These advantages include high efficiency, no dependence on lubricants, operation with less noise, low maintenance, easy portability, small size, and lightweight. High-speed motors prove to be extremely beneficial in industrial applications such as drilling operations, which is driving the segment growth. Moreover, the growing R&D activities to bolster the operational efficiency of high-speed motors in various applications are likely to aid the segment.

 

Global Induction AC Electric Motor Market

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The Asia Pacific Accounts for a Significant Share in the Market

The induction AC electric motor industry in the Asia Pacific is driven by factors such as the expansion of the major end use industries, rapid industrialisation, strong foothold of technology providers, and strong economic growth of developing countries. Additionally, the thriving manufacturing sector in countries like India, China, and others is anticipated to propel the demand for induction AC electric motors in the forecast period.

 

Induction AC Electric Motor: Market Segmentation

An induction AC electric motor is defined as an electrical equipment that converts alternating current into mechanical energy using electromagnetic induction. AC motor contains a stator which is made from a ring of electromagnets arranged around the outside, which produce magnetic field.

 

Global Induction AC Electric Motor Market

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Based on type, the market can be segmented into:

  • < 1 kV
  • 1 kV – 6.6 kV
  • 6.6 kV

On the basis of efficiency rating, the market is segmented into:

  • IE1
  • IE2
  • IE3
  • IE4

By speed, the market has been divided into:

  • Ultra-High-Speed Motors
  • High-Speed Motors
  • Medium Speed Motors
  • Low Speed Motors

The major end uses of the product include:

  • Industrial
  • Motor Vehicle
  • HVAC
  • Household
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Utilisation in Motor Vehicles to Boost the Growth of the Induction AC Electric Motor Industry

The rising application of induction AC electric motors in motor vehicles, owing to the thriving transportation sector, rising standards of living, and rapid urbanisation in emerging economies, is driving the market growth. In addition to this, the rising demand for commercial and passenger automobiles, motorcycles, and motorised bicycles due to increasing disposable incomes is anticipated to augment the market in the forecast period. Meanwhile, the rising demand for HVAC equipment from the residential and commercial sector is likely to be another aiding factor in the market growth over the forecast period.

 

Global Induction AC Electric Motor Market

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Key Industry Players in the Global Induction AC Electric Motor Market

The report gives a detailed analysis of the following key players in the global induction AC electric motor market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • ABB Ltd.
  • Rockwell Automation, Inc.
  • Siemens AG
  • ARC Systems, Inc.
  • Sinotech, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

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
  • Efficiency Rating
  • Speed
  • End Use
  • Region
Breakup by Type
  • < 1 kV
  • 1 kV – 6.6 kV
  • > 6.6 kV
Breakup by Efficiency Rating
  • IE1
  • IE2
  • IE3
  • IE4
Breakup by Speed
  • Ultra-High-Speed Motors
  • High-Speed Motors
  • Medium Speed Motors
  • Low Speed Motors
Breakup by End Use
  • Industrial
  • Motor Vehicle
  • HVAC
  • Household
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ABB Ltd.
  • Rockwell Automation, Inc.
  • Siemens AG
  • ARC Systems, Inc.
  • Sinotech, Inc.
  • 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    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Induction AC Electric Motor Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Induction AC Electric Motor Historical Market (2018-2023) 
    8.3    Global Induction AC Electric Motor Market Forecast (2024-2032)
    8.4    Global Induction AC Electric Motor Market by Type
        8.4.1    < 1 kV
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    1 kV – 6.6 kV
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    > 6.6 kV
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Induction AC Electric Motor Market by Efficiency Rating
        8.5.1    IE1
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    IE2
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    IE3
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    IE4
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
    8.6    Global Induction AC Electric Motor Market by Speed
        8.6.1    Ultra-High-Speed Motors
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    High-Speed Motors
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Medium Speed Motors
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Low Speed Motors
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
    8.7    Global Induction AC Electric Motor Market by End Use
        8.7.1    Industrial
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Motor Vehicle
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    HVAC
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Household
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Others
    8.8    Global Induction AC Electric Motor Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America Induction AC Electric Motor 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 Induction AC Electric Motor 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 Induction AC Electric Motor 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 Induction AC Electric Motor 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 Induction AC Electric Motor 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    Rockwell Automation, Inc.
            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    Siemens AG
            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    ARC Systems, 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    Sinotech, Inc.
            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 Induction AC Electric Motor Market: Key Industry Highlights, 2018 and 2032
2.    Global Induction AC Electric Motor Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Induction AC Electric Motor Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Induction AC Electric Motor Historical Market: Breakup by Efficiency Rating (USD Billion), 2018-2023
5.    Global Induction AC Electric Motor Market Forecast: Breakup by Efficiency Rating (USD Billion), 2024-2032
6.    Global Induction AC Electric Motor Historical Market: Breakup by Speed (USD Billion), 2018-2023
7.    Global Induction AC Electric Motor Market Forecast: Breakup by Speed (USD Billion), 2024-2032
8.    Global Induction AC Electric Motor Historical Market: Breakup by End Use (USD Billion), 2018-2023
9.    Global Induction AC Electric Motor Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10.    Global Induction AC Electric Motor Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Induction AC Electric Motor Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Induction AC Electric Motor Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Induction AC Electric Motor Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Induction AC Electric Motor Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Induction AC Electric Motor Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Induction AC Electric Motor Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Induction AC Electric Motor Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Induction AC Electric Motor Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Induction AC Electric Motor Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Induction AC Electric Motor Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Induction AC Electric Motor Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Induction AC Electric Motor Market Structure

Key Questions Answered in the Report

In 2023, the global induction AC electric motors market attained a value of nearly USD 25.60 billion.

The market is estimated to grow at a CAGR of 13.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 81.29 billion by 2032.

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

The major drivers of the industry, such as the rising application of induction AC electric motors in various industries, rising standards of living, and rapid industrialisation, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the technological advancements in the automotive sector.

< 1 kV, 1 kV – 6.6 kV, and 6.6 kV are the major induction AC electric motor types included in the market report.

IE1, IE2, IE3, and IE4 are the major segments based on efficiency rating.

Ultra-high-speed motors, high-speed motors, medium speed motors, and low speed motors are the major segments based on speed.

Industrial, motor vehicle, HVAC, and household, among others are the different end uses of induction AC electric motors.

The major players in the industry are ABB Ltd., Rockwell Automation, Inc., Siemens AG, ARC Systems, Inc., and Sinotech, Inc., among others.

Analyst Review

The global induction AC electric motors market attained a value of USD 25.60 billion in 2023, driven by the rising demand for motor vehicles for transportation purpose. 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 13.7%. The market is projected to reach USD 81.29 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into < 1 kV, 1 kV – 6.6 kV, and 6.6 kV. On the basis of efficiency rating, the market is divided into IE1, IE2, IE3, and IE4. By speed, the market has been divided into ultra-high-speed motors, high-speed motors, medium speed motors, and low speed motors. The significant end uses of the product include industrial, motor vehicle, HVAC, and household, among others. The major regional markets for induction AC electric motors are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ABB Ltd., Rockwell Automation, Inc., Siemens AG, ARC Systems, Inc., and Sinotech, Inc., 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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