The AC motors market is projected to reach USD 6.60 billion by 2029 from an estimated USD 4.60 billion in 2024, at a CAGR of 7.5% during the forecast period (2024–2029). The demand for AC motors is growing because there has been an increased number of applications in industries such as HVAC, manufacturing, oil & gas, and water and wastewater treatment. Their performance, durability, and resistance to automation make them useful for smart manufacturing. Rapid growth in infrastructure projects along with energy-efficient systems and transformation into renewable energy sources also increases use for applications requiring precise and reliable control.
“Induction motor is expected to grow as the largest segment during the forecast period.”
Induction motors are the strongest growing segment of AC motors because of their rugged nature, low maintenance, and all-around applications. They thrive well under changing climatic conditions and are commonly implemented in industries such as HVAC, manufacturing, and renewable energy. Electrification of transportation modes and infrastructure modernization adds to their demand. Induction motors are less costly and versatile to meet high and low speeds with many loads. This is suitable for industrial and consumer markets and has the potential for achieving lower greenhouse gas emissions by being in line with broader global sustainability goals.
“Power segment is expected to emerge as the largest segment by application.”
The power segment is growing the fastest within AC motors due to the growing demand for electricity driven by industrialization, urbanization, and the integration of renewable energy. It is critical for the successful operation of the power generation, transmission, and distribution systems. In turbines and compressors, AC motors handle heavy-duty equipment operations, delivering efficiency in their work. Coupled with the rising demand in power loads and motor durability and efficiency improvements, their trend is set to suit the global shift toward energy optimization. Further, with the increasing investment in smart grids and electrification projects also drives this segment forward.
“China to grow at the highest CAGR for Asia Pacific AC motors market.”
China represents one of the fastest-growing AC motor markets, based on its strong manufacturing industry- it accounts for the largest worldwide. China also benefits rapidly from Industry 4.0 technologies. The drive by this country to automate processes and invest more in smart factories has hugely created an influence on the demand of the AC motors in the industries. Moreover, its efforts for renewable energy and electrical vehicle use are further increasing growth among the power and automobile markets. Low production costs together with government initiatives to update infrastructures and a booming market in exports have cemented leadership status for China in AC motor industry.
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 30%, Tier 2- 45%, and Tier 3- 25%
By Designation: C-Level- 30%, Director Levels- 20%, and Others- 50%
By Region: North America- 18%, Europe- 8%, Asia Pacific- 60%, the Middle East & Africa- 10%, and South America- 4%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
ABB (Switzerland), Siemens (Germany), GE Vernova (US), WEG (Brazil), and NIDEC (Japan) are some of the key players in the AC motors market.
The study includes an in-depth competitive analysis of these key players in the AC motors market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report defines, describes, and forecasts the AC motors market by Type (Induction motors and Synchronou motors), By Power Rating (500 – 900 kW; 900 – 1,200 kW; 1,200 – 5,000 kW; 5,000 – 9,000 kW; 9,000 – 12,000 kW; 12,000 – 15,000 kW; 15,000 – 25,000 kW; Above 25,000 kW), By Voltage (3 kV to 3.6 kV, 3.7 kV to 4.9 kV, 5 kV to 7.2 kV and Above 7.2 kV), By Poles (2 poles, 4 poles, 6 poles, 8 poles, 10 poles, others) By End User (Steel & metals, Mining, Oil & gas, Water & wastewater treatment, Power, Marine and shipbuilding, Petrochemicals, Automotive manufacturing, and Others) and By Region (North America, South America, Europe, Asia Pacific, and Middle east & Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the AC motors market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, investment, divestment, new product & service launches, and recent developments associated with the AC motors market. Competitive analysis of upcoming startups in the AC motors market ecosystem is covered in this report.
Key Benefits of Buying the Report
• Analysis of key drivers (burgeoning steel industry is propagating the induction motors growth
, global commitment to decarbonization are creating unprecedented demand for induction & synchronous motors and growing demand in manufacturing industries), restraints (increase in maintenance cost of systems after implementation of induction and synchronous motors and implementation of stringent regulatory standards), opportunities (transition of automotive industry toward electric vehicles and growth of adoption in the oil & gas industry), and challenges (thermal, insulation and mechanical issues are causing a hinderance in high voltage induction motors and shortage of components and supply chain issues) influences the growth of the ac motors market.
• Product Development/ Innovation: GE Vernova, GE's portfolio of energy businesses, announced a significant investment of over USD 450 million in U.S. manufacturing for 2023. This investment aims to enhance capacity, upgrade facilities, and improve production processes. For motors specifically, the investment supports the development and manufacturing of advanced motor technologies, ensuring higher efficiency and reliability. These improvements are expected to boost GE Vernova's competitive edge in the energy sector, particularly in renewable energy and power generation applications.
• Market Development: The development of AC motors are moving towards greater efficiency and power generation. Favorable government policies in carbon emission reduction, increasing demand for AC motors in industrial sectors, create AC motors market growth.
• Market Diversification: The deal indicates that GE Vernova's Power Conversion business is advancing its role in the naval sector by supplying integrated full-electric propulsion systems for the Republic of Singapore Navy's Multi-Role Combat Vessel program. This collaboration highlights GE Vernova's capabilities in providing cutting-edge energy conversion technologies, reinforcing its commitment to innovative solutions in maritime applications, and enhancing energy efficiency and operational performance for naval fleets.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ABB (Switzerland), Siemens (Germany), GE Vernova (US), WEG (Brazil), NIDEC (Japan) among others in the AC motors market.
圖表清單 List of Tables & Figures
TABLE 1 INCLUSIONS AND EXCLUSIONS 27
TABLE 2 AC MOTOR MARKET SNAPSHOT, 2024 VS. 2029 43
TABLE 3 AVERAGE SELLING PRICE TREND OF AC MOTORS, BY POWER RATING,
2021–2023 (USD/UNIT) 61
TABLE 4 AVERAGE SELLING PRICE TREND OF AC MOTORS, BY REGION,
2021–2023 (USD/UNIT) 62
TABLE 5 ROLE OF COMPANIES IN ECOSYSTEM 65
TABLE 6 MAJOR PATENTS IN AC MOTOR MARKET, 2022–2023 69
TABLE 7 EXPORT DATA FOR HS CODE 8501-COMPLIANT PRODUCTS, BY COUNTRY,
2019–2023 (USD THOUSAND) 71
TABLE 8 IMPORT DATA FOR HS CODE 8501-COMPLIANT PRODUCTS, BY COUNTRY,
2019–2023 (USD THOUSAND) 73
TABLE 9 KEY CONFERENCES AND EVENTS, 2025 74
TABLE 10 IMPORT TARIFFS FOR HS 8501-COMPLIANT PRODUCTS, BY COUNTRY, 2023 76
TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
TABLE 14 SOUTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
TABLE 15 MIDDLE EAST & AFRICA: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 79
TABLE 16 GLOBAL: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 79
TABLE 17 NORTH AMERICA: CODES AND REGULATIONS 79
TABLE 18 ASIA PACIFIC: CODES AND REGULATIONS 80
TABLE 19 EUROPE: CODES AND REGULATIONS 80
TABLE 20 GLOBAL: CODES AND REGULATIONS 80
TABLE 21 AC MOTOR MARKET: PORTER’S FIVE FORCES ANALYSIS 81
TABLE 22 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR AC MOTOR TYPES 83
TABLE 23 KEY BUYING CRITERIA FOR AC MOTOR TYPES 84
TABLE 24 GLOBAL GDP GROWTH, 2021–2028 (USD TRILLION) 86
TABLE 25 AVERAGE INFLATION RATES IN DIFFERENT GEOGRAPHIES, 2024 87
TABLE 26 MANUFACTURING VALUE ADDED AS PERCENTAGE OF GDP, 2023 88
TABLE 27 AC MOTOR MARKET, BY POLE, 2021–2023 (USD MILLION) 90
TABLE 28 AC MOTOR MARKET, BY POLE, 2024–2029 (USD MILLION) 91
TABLE 29 2-POLE: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 91
TABLE 30 2-POLE: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 92
TABLE 31 4-POLE: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 92
TABLE 32 4-POLE: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 93
TABLE 33 6-POLE: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 93
TABLE 34 6-POLE: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 94
TABLE 35 8-POLE: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 94
TABLE 36 8-POLE: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 95
TABLE 37 10-POLE: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 95
TABLE 38 10-POLE: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 96
TABLE 39 OTHERS: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 96
TABLE 40 OTHERS: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 97
TABLE 41 AC MOTOR MARKET, BY POWER RATING, 2021–2023 (USD MILLION) 99
TABLE 42 AC MOTOR MARKET, BY POWER RATING, 2024–2029 (USD MILLION) 100
TABLE 43 500–900 KW: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 101
TABLE 44 500–900 KW: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 101
TABLE 45 >900–1,200 KW: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 102
TABLE 46 >900–1,200 KW: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 102
TABLE 47 >1,200–5,000 KW: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 103
TABLE 48 >1,200–5,000 KW: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 103
TABLE 49 >5,000–9,000 KW: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 104
TABLE 50 >5,000–9,000 KW: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 104
TABLE 51 >9,000–12,000 KW: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 105
TABLE 52 >9,000–12,000 KW: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 105
TABLE 53 >12,000–15,000 KW: AC MOTOR MARKET, BY REGION,
2021–2023 (USD MILLION) 106
TABLE 54 >12,000–15,000 KW: AC MOTOR MARKET, BY REGION,
2024–2029 (USD MILLION) 106
TABLE 55 >15,000–25,000 KW: AC MOTOR MARKET, BY REGION,
2021–2023 (USD MILLION) 107
TABLE 56 >15,000–25,000 KW: AC MOTOR MARKET, BY REGION,
2024–2029 (USD MILLION) 107
TABLE 57 ABOVE 25,000 KW: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 108
TABLE 58 ABOVE 25,000 KW: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 108
TABLE 59 AC MOTOR MARKET, BY TYPE, 2021–2023 (USD MILLION) 110
TABLE 60 AC MOTOR MARKET, BY TYPE, 2024–2029 (USD MILLION) 110
TABLE 61 INDUCTION MOTORS: AC MOTOR MARKET, BY REGION,
2021–2023 (USD MILLION) 111
TABLE 62 INDUCTION MOTORS: AC MOTOR MARKET, BY REGION,
2024–2029 (USD MILLION) 111
TABLE 63 SYNCHRONOUS MOTORS: AC MOTOR MARKET, BY REGION,
2021–2023 (USD MILLION) 112
TABLE 64 SYNCHRONOUS MOTORS: AC MOTOR MARKET, BY REGION,
2024–2029 (USD MILLION) 112
TABLE 65 AC MOTOR MARKET, BY VOLTAGE, 2021–2023 (USD MILLION) 115
TABLE 66 AC MOTOR MARKET, BY VOLTAGE, 2024–2029 (USD MILLION) 116
TABLE 67 3 TO 3.6 KV: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 116
TABLE 68 3 TO 3.6 KV: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 117
TABLE 69 3.7 TO 4.9 KV: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 117
TABLE 70 3.7 TO 4.9 KV: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 118
TABLE 71 5 TO 7.2 KV: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 118
TABLE 72 5 TO 7.2 KV: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 119
TABLE 73 ABOVE 7.2 KV: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 120
TABLE 74 ABOVE 7.2 KV: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 120
TABLE 75 AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 122
TABLE 76 AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 123
TABLE 77 WATER & WASTEWATER TREATMENT: AC MOTOR MARKET, BY REGION,
2021–2023 (USD MILLION) 124
TABLE 78 WATER & WASTEWATER TREATMENT: AC MOTOR MARKET, BY REGION,
2024–2029 (USD MILLION) 124
TABLE 79 POWER: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 125
TABLE 80 POWER: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 126
TABLE 81 STEEL & METALS: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 127
TABLE 82 STEEL & METALS: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 127
TABLE 83 PETROCHEMICALS: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 128
TABLE 84 PETROCHEMICALS: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 128
TABLE 85 MINING: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 129
TABLE 86 MINING: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 130
TABLE 87 MARINE & SHIPBUILDING: AC MOTOR MARKET, BY REGION,
2021–2023 (USD MILLION) 131
TABLE 88 MARINE & SHIPBUILDING: AC MOTOR MARKET, BY REGION,
2024–2029 (USD MILLION) 131
TABLE 89 AUTOMOTIVE MANUFACTURING: AC MOTOR MARKET, BY REGION,
2021–2023 (USD MILLION) 132
TABLE 90 AUTOMOTIVE MANUFACTURING: AC MOTOR MARKET, BY REGION,
2024–2029 (USD MILLION) 132
TABLE 91 OIL & GAS: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 133
TABLE 92 OIL & GAS: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 134
TABLE 93 OTHER END USERS: AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 135
TABLE 94 OTHER END USERS: AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 135
TABLE 95 AC MOTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 138
TABLE 96 AC MOTOR MARKET, BY REGION, 2024–2029 (USD MILLION) 138
TABLE 97 AC MOTOR MARKET, BY REGION, 2021–2023 (UNITS) 138
TABLE 98 AC MOTOR MARKET, BY REGION, 2024–2029 (UNITS) 139
TABLE 99 ASIA PACIFIC: AC MOTOR MARKET, BY TYPE, 2021–2023 (USD MILLION) 140
TABLE 100 ASIA PACIFIC: AC MOTOR MARKET, BY TYPE, 2024–2029 (USD MILLION) 141
TABLE 101 ASIA PACIFIC: AC MOTOR MARKET, BY VOLTAGE, 2021–2023 (USD MILLION) 141
TABLE 102 ASIA PACIFIC: AC MOTOR MARKET, BY VOLTAGE, 2024–2029 (USD MILLION) 141
TABLE 103 ASIA PACIFIC: AC MOTOR MARKET, BY POWER RATING, 2021–2023 (USD MILLION) 142
TABLE 104 ASIA PACIFIC: AC MOTOR MARKET, BY POWER RATING, 2024–2029 (USD MILLION) 142
TABLE 105 ASIA PACIFIC: AC MOTOR MARKET, BY POLE, 2021–2023 (USD MILLION) 143
TABLE 106 ASIA PACIFIC: AC MOTOR MARKET, BY POLE, 2024–2029 (USD MILLION) 143
TABLE 107 ASIA PACIFIC: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 143
TABLE 108 ASIA PACIFIC: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 144
TABLE 109 ASIA PACIFIC: AC MOTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 144
TABLE 110 ASIA PACIFIC: AC MOTOR MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 145
TABLE 111 CHINA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 146
TABLE 112 CHINA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 146
TABLE 113 INDIA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 147
TABLE 114 INDIA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 148
TABLE 115 JAPAN: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 149
TABLE 116 JAPAN: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 149
TABLE 117 SOUTH KOREA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 150
TABLE 118 SOUTH KOREA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 151
TABLE 119 AUSTRALIA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 152
TABLE 120 AUSTRALIA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 152
TABLE 121 REST OF ASIA PACIFIC: AC MOTOR MARKET, BY END USER,
2021–2023 (USD MILLION) 153
TABLE 122 REST OF ASIA PACIFIC: AC MOTOR MARKET, BY END USER,
2024–2029 (USD MILLION) 154
TABLE 123 EUROPE: AC MOTOR MARKET, BY TYPE, 2021–2023 (USD MILLION) 155
TABLE 124 EUROPE: AC MOTOR MARKET, BY TYPE, 2024–2029 (USD MILLION) 155
TABLE 125 EUROPE: AC MOTOR MARKET, BY VOLTAGE, 2021–2023 (USD MILLION) 155
TABLE 126 EUROPE: AC MOTOR MARKET, BY VOLTAGE, 2024–2029 (USD MILLION) 155
TABLE 127 EUROPE: AC MOTOR MARKET, BY POWER RATING, 2021–2023 (USD MILLION) 156
TABLE 128 EUROPE: AC MOTOR MARKET, BY POWER RATING, 2024–2029 (USD MILLION) 156
TABLE 129 EUROPE: AC MOTOR MARKET, BY POLE, 2021–2023 (USD MILLION) 157
TABLE 130 EUROPE: AC MOTOR MARKET, BY POLE, 2024–2029 (USD MILLION) 157
TABLE 131 EUROPE: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 157
TABLE 132 EUROPE: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 158
TABLE 133 EUROPE: AC MOTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 158
TABLE 134 EUROPE: AC MOTOR MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 158
TABLE 135 GERMANY: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 160
TABLE 136 GERMANY: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 160
TABLE 137 UK: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 161
TABLE 138 UK: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 161
TABLE 139 ITALY: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 162
TABLE 140 ITALY: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 163
TABLE 141 FRANCE: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 164
TABLE 142 FRANCE: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 164
TABLE 143 REST OF EUROPE: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 165
TABLE 144 REST OF EUROPE: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 166
TABLE 145 NORTH AMERICA: AC MOTOR MARKET, BY TYPE, 2021–2023 (USD MILLION) 167
TABLE 146 NORTH AMERICA: AC MOTOR MARKET, BY TYPE, 2024–2029 (USD MILLION) 168
TABLE 147 NORTH AMERICA: AC MOTOR MARKET, BY VOLTAGE, 2021–2023 (USD MILLION) 168
TABLE 148 NORTH AMERICA: AC MOTOR MARKET, BY VOLTAGE, 2024–2029 (USD MILLION) 168
TABLE 149 NORTH AMERICA: AC MOTOR MARKET, BY POWER RATING,
2021–2023 (USD MILLION) 169
TABLE 150 NORTH AMERICA: AC MOTOR MARKET, BY POWER RATING,
2024–2029 (USD MILLION) 169
TABLE 151 NORTH AMERICA: AC MOTOR MARKET, BY POLE, 2021–2023 (USD MILLION) 170
TABLE 152 NORTH AMERICA: AC MOTOR MARKET, BY POLE, 2024–2029 (USD MILLION) 170
TABLE 153 NORTH AMERICA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 170
TABLE 154 NORTH AMERICA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 171
TABLE 155 NORTH AMERICA: AC MOTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 171
TABLE 156 NORTH AMERICA: AC MOTOR MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 171
TABLE 157 US: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 172
TABLE 158 US: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 173
TABLE 159 CANADA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 174
TABLE 160 CANADA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 174
TABLE 161 MEXICO: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 175
TABLE 162 MEXICO: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 176
TABLE 163 SOUTH AMERICA: AC MOTOR MARKET, BY TYPE, 2021–2023 (USD MILLION) 177
TABLE 164 SOUTH AMERICA: AC MOTOR MARKET, BY TYPE, 2024–2029 (USD MILLION) 177
TABLE 165 SOUTH AMERICA: AC MOTOR MARKET, BY VOLTAGE, 2021–2023 (USD MILLION) 177
TABLE 166 SOUTH AMERICA: AC MOTOR MARKET, BY VOLTAGE, 2024–2029 (USD MILLION) 177
TABLE 167 SOUTH AMERICA: AC MOTOR MARKET, BY POWER RATING,
2021–2023 (USD MILLION) 178
TABLE 168 SOUTH AMERICA: AC MOTOR MARKET, BY POWER RATING,
2024–2029 (USD MILLION) 178
TABLE 169 SOUTH AMERICA: AC MOTOR MARKET, BY POLE, 2021–2023 (USD MILLION) 178
TABLE 170 SOUTH AMERICA: AC MOTOR MARKET, BY POLE, 2024–2029 (USD MILLION) 179
TABLE 171 SOUTH AMERICA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 179
TABLE 172 SOUTH AMERICA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 180
TABLE 173 SOUTH AMERICA: AC MOTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 180
TABLE 174 SOUTH AMERICA: AC MOTOR MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 180
TABLE 175 BRAZIL: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 181
TABLE 176 BRAZIL: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 182
TABLE 177 ARGENTINA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 183
TABLE 178 ARGENTINA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 183
TABLE 179 REST OF SOUTH AMERICA: AC MOTOR MARKET, BY END USER,
2021–2023 (USD MILLION) 184
TABLE 180 REST OF SOUTH AMERICA: AC MOTOR MARKET, BY END USER,
2024–2029 (USD MILLION) 185
TABLE 181 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY TYPE,
2021–2023 (USD MILLION) 186
TABLE 182 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY TYPE,
2024–2029 (USD MILLION) 186
TABLE 183 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY VOLTAGE,
2021–2023 (USD MILLION) 186
TABLE 184 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY VOLTAGE,
2024–2029 (USD MILLION) 186
TABLE 185 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY POWER RATING,
2021–2023 (USD MILLION) 187
TABLE 186 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY POWER RATING,
2024–2029 (USD MILLION) 187
TABLE 187 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY POLE,
2021–2023 (USD MILLION) 188
TABLE 188 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY POLE,
2024–2029 (USD MILLION) 188
TABLE 189 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY END USER,
2021–2023 (USD MILLION) 188
TABLE 190 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY END USER,
2024–2029 (USD MILLION) 189
TABLE 191 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY COUNTRY,
2021–2023 (USD MILLION) 189
TABLE 192 MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY COUNTRY,
2024–2029 (USD MILLION) 190
TABLE 193 GCC: AC MOTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 190
TABLE 194 GCC: AC MOTOR MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 190
TABLE 195 GCC: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 191
TABLE 196 GCC: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 192
TABLE 197 SAUDI ARABIA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 193
TABLE 198 SAUDI ARABIA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 193
TABLE 199 UAE: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 194
TABLE 200 UAE: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 195
TABLE 201 REST OF GCC: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 196
TABLE 202 REST OF GCC: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 196
TABLE 203 SOUTH AFRICA: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 197
TABLE 204 SOUTH AFRICA: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 198
TABLE 205 IRAQ: AC MOTOR MARKET, BY END USER, 2021–2023 (USD MILLION) 199
TABLE 206 IRAQ: AC MOTOR MARKET, BY END USER, 2024–2029 (USD MILLION) 199
TABLE 207 REST OF MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY END USER,
2021–2023 (USD MILLION) 200
TABLE 208 REST OF MIDDLE EAST & AFRICA: AC MOTOR MARKET, BY END USER,
2024–2029 (USD MILLION) 201
TABLE 209 AC MOTOR MARKET: STRATEGIES ADOPTED BY KEY PLAYERS, 2021–2024 202
TABLE 210 AC MOTOR MARKET: DEGREE OF COMPETITION 205
TABLE 211 AC MOTOR MARKET: REGION FOOTPRINT 212
TABLE 212 AC MOTOR MARKET: TYPE FOOTPRINT 213
TABLE 213 AC MOTOR MARKET: POWER RATING FOOTPRINT 214
TABLE 214 AC MOTOR MARKET: END USER FOOTPRINT 215
TABLE 215 AC MOTOR MARKET: LIST OF KEY STARTUPS/SMES, 2023 219
TABLE 216 AC MOTOR MARKET: COMPETITIVE BENCHMARKING OF
KEY STARTUPS/SMES, 2023 219
TABLE 217 AC MOTOR MARKET: PRODUCT LAUNCHES, JANUARY 2021–AUGUST 2024 220
TABLE 218 AC MOTOR MARKET: DEALS, JANUARY 2021–AUGUST 2024 221
TABLE 219 AC MOTOR MARKET: EXPANSIONS, JANUARY 2021–AUGUST 2024 222
TABLE 220 AC MOTOR MARKET: OTHER DEVELOPMENTS, JANUARY 2021–AUGUST 2024 222
TABLE 221 ABB: COMPANY OVERVIEW 223
TABLE 222 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 225
TABLE 223 ABB: DEALS 225
TABLE 224 GE VERNOVA: COMPANY OVERVIEW 227
TABLE 225 TABLE 2 GE VERNOVA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 229
TABLE 226 GE VERNOVA: DEALS 229
TABLE 227 GE VERNOVA: OTHER DEVELOPMENTS 230
TABLE 228 SIEMENS: COMPANY OVERVIEW 231
TABLE 229 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 233
TABLE 230 SIEMENS: PRODUCT LAUNCHES 233
TABLE 231 SIEMENS: OTHER DEVELOPMENTS 234
TABLE 232 WEG: COMPANY OVERVIEW 235
TABLE 233 WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 237
TABLE 234 WEG: DEALS 237
TABLE 235 WEG: EXPANSIONS 238
TABLE 236 NIDEC CORPORATION: COMPANY OVERVIEW 239
TABLE 237 NIDEC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 241
TABLE 238 NIDEC CORPORATION: PRODUCT LAUNCHES 241
TABLE 239 SHANGHAI ELECTRIC: COMPANY OVERVIEW 243
TABLE 240 SHANGHAI ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 245
TABLE 241 TMEIC: COMPANY OVERVIEW 247
TABLE 242 TMEIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 248
TABLE 243 HD HYUNDAI ELECTRIC CO., LTD.: COMPANY OVERVIEW 250
TABLE 244 HD HYUNDAI ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 251
TABLE 245 HITACHI INDUSTRIAL PRODUCTS, LTD.: COMPANY OVERVIEW 253
TABLE 246 HITACHI INDUSTRIAL PRODUCTS, LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 253
TABLE 247 REGAL REXNORD CORPORATION: COMPANY OVERVIEW 255
TABLE 248 REGAL REXNORD CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 256
TABLE 249 REGAL REXNORD CORPORATION: DEALS 257
TABLE 250 WOLONG ELECTRIC: COMPANY OVERVIEW 258
TABLE 251 WOLONG ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 258
TABLE 252 ZCL ELECTRIC MOTOR TECHNOLOGY CO., LTD.: COMPANY OVERVIEW 260
TABLE 253 ZCL ELECTRIC MOTOR TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 260
TABLE 254 CG POWER & INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW 261
TABLE 255 CG POWER & INDUSTRIAL SOLUTIONS LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 263
TABLE 256 LAXMI HYDRAULICS PVT. LTD.: COMPANY OVERVIEW 264
TABLE 257 LAXMI HYDRAULICS PVT. LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 264
TABLE 258 KIRLOSKAR ELECTRIC COMPANY: COMPANY OVERVIEW 266
TABLE 259 KIRLOSKAR ELECTRIC COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 267
TABLE 260 JEUMONT ELECTRIC: COMPANY OVERVIEW 268
TABLE 261 MENZEL ELEKTROMOTOREN GMBH: COMPANY OVERVIEW 269
TABLE 262 XI’AN SIMO MOTOR CO., LTD.: COMPANY OVERVIEW 270
TABLE 263 TECO-WESTINGHOUSE: COMPANY OVERVIEW 271
TABLE 264 VEM GMBH: COMPANY OVERVIEW 272
TABLE 265 HYOSUNG HEAVY INDUSTRIES: COMPANY OVERVIEW 273
TABLE 266 AC-MOTOREN GMBH: COMPANY OVERVIEW 274
TABLE 267 BROOK CROMPTON: COMPANY OVERVIEW 275
TABLE 268 VYBO ELECTRIC: COMPANY OVERVIEW 276
TABLE 269 O.M.E. MOTORI ELETTRICI S.R.L.: COMPANY OVERVIEW 277
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FIGURE 1 AC MOTOR MARKET: RESEARCH DESIGN 30
FIGURE 2 DATA TRIANGULATION 31
FIGURE 3 KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR AC MOTORS 35
FIGURE 4 AC MOTOR MARKET: BOTTOM-UP APPROACH 36
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 39
FIGURE 6 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF AC MOTORS 40
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY-SIDE ANALYSIS): REVENUE GENERATED BY ABB THROUGH SALES OF AC MOTORS 40
FIGURE 8 ASIA PACIFIC CAPTURED LARGEST SHARE OF AC MOTOR MARKET IN 2023 45
FIGURE 9 INDUCTION MOTORS SEGMENT TO HOLD PROMINENT MARKET SHARE IN 2024 45
FIGURE 10 3 TO 3.6 KV SEGMENT TO CAPTURE MAJORITY OF MARKET SHARE IN 2024 46
FIGURE 11 500–900 KW SEGMENT TO HOLD LARGEST SHARE OF AC MOTOR
MARKET IN 2024 46
FIGURE 12 4-POLE SEGMENT TO WITNESS HIGHEST CAGR IN AC MOTOR MARKET DURING FORECAST PERIOD 47
FIGURE 13 WATER & WASTEWATER TREATMENT SEGMENT TO SECURE LARGEST SHARE OF AC MOTOR MARKET IN 2024 47
FIGURE 14 RISING DEMAND FOR ENERGY-EFFICIENT AND LOW-COST MAINTENANCE AC MOTORS TO DRIVE MARKET 49
FIGURE 15 INDUCTION MOTORS SEGMENT AND CHINA TO DOMINATE AC MOTOR
MARKET IN ASIA PACIFIC IN 2029 50
FIGURE 16 INDUCTION MOTORS SEGMENT TO ACCOUNT FOR LARGER MARKET
SHARE IN 2029 50
FIGURE 17 3 TO 3.6 KV SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2029 51
FIGURE 18 500–900 KW SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 51
FIGURE 19 4-POLE SEGMENT TO SECURE MAJORITY OF MARKET SHARE IN 2029 52
FIGURE 20 WATER & WASTEWATER TREATMENT SEGMENT TO BE LARGEST END USER OF AC MOTORS IN 2029 52
FIGURE 21 AC MOTOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 53
FIGURE 22 GLOBAL LANDSCAPE OF STEEL PRODUCTION AND USAGE, 2023 54
FIGURE 23 CLEAN ENERGY INVESTMENTS IN NET-ZERO PATHWAY, 2016–2050 55
FIGURE 24 DISTRIBUTION OF LOSSES IN INDUCTION MOTORS 57
FIGURE 25 ELECTRIC CAR SALES GROWTH, 2020–2024 58
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 60
FIGURE 27 AVERAGE SELLING PRICE TREND OF AC MOTORS, BY POWER
RATING, 2021–2023 61
FIGURE 28 AVERAGE SELLING PRICE TREND OF AC MOTORS, BY REGION, 2021–2023 62
FIGURE 29 VALUE CHAIN ANALYSIS 63
FIGURE 30 AC MOTOR ECOSYSTEM 64
FIGURE 31 INVESTMENT AND FUNDING SCENARIO, 2018–2024 67
FIGURE 32 PATENTS APPLIED AND GRANTED, 2014–2023 68
FIGURE 33 EXPORT SCENARIO FOR HS CODE 8501-COMPLIANT PRODUCTS FOR TOP 5 COUNTRIES, 2019–2023 72
FIGURE 34 IMPORT SCENARIO FOR HS CODE 8501-COMPLIANT PRODUCTS FOR TOP 5 COUNTRIES, 2019–2023 74
FIGURE 35 PORTER’S FIVE FORCES ANALYSIS 81
FIGURE 36 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR AC MOTOR TYPES 83
FIGURE 37 KEY BUYING CRITERIA FOR AC MOTOR TYPES 83
FIGURE 38 IMPACT OF AI/GENERATIVE AI ON AC MOTOR MARKET, BY TYPE AND REGION 85
FIGURE 39 AC MOTOR MARKET, BY POLE, 2023 90
FIGURE 40 AC MOTOR MARKET, BY POWER RATING, 2023 99
FIGURE 41 AC MOTOR MARKET, BY TYPE, 2023 110
FIGURE 42 AC MOTOR MARKET, BY VOLTAGE, 2023 115
FIGURE 43 AC MOTOR MARKET, BY END USER, 2023 122
FIGURE 44 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN AC MOTOR MARKET DURING FORECAST PERIOD 137
FIGURE 45 AC MOTOR MARKET SHARE, BY REGION, 2023 137
FIGURE 46 ASIA PACIFIC: AC MOTOR MARKET SNAPSHOT 140
FIGURE 47 NORTH AMERICA: AC MOTOR MARKET SNAPSHOT 167
FIGURE 48 REVENUE ANALYSIS OF TOP PLAYERS IN AC MOTOR MARKET, 2019–2023 204
FIGURE 49 SHARE ANALYSIS OF PLAYERS IN AC MOTOR MARKET, 2023 206
FIGURE 50 COMPANY VALUATION, 2024 207
FIGURE 51 FINANCIAL METRICS, (EV/EBITDA), 2024 208
FIGURE 52 AC MOTOR MARKET: BRAND/PRODUCT COMPARISON 208
FIGURE 53 AC MOTOR MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 210
FIGURE 54 AC MOTOR MARKET: COMPANY FOOTPRINT 211
FIGURE 55 AC MOTOR MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 218
FIGURE 56 ABB: COMPANY SNAPSHOT 224
FIGURE 57 GE COMPANY: COMPANY SNAPSHOT 228
FIGURE 58 SIEMENS: COMPANY SNAPSHOT 232
FIGURE 59 WEG: COMPANY SNAPSHOT 236
FIGURE 60 NIDEC CORPORATION: COMPANY SNAPSHOT 240
FIGURE 61 SHANGHAI ELECTRIC: COMPANY SNAPSHOT 244
FIGURE 62 HD HYUNDAI ELECTRIC CO., LTD.: COMPANY SNAPSHOT 250
FIGURE 63 REGAL REXNORD CORPORATION: COMPANY SNAPSHOT 256
FIGURE 64 CG POWER & INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT 262
FIGURE 65 KIRLOSKAR ELECTRIC COMPANY: COMPANY SNAPSHOT 266