According to the report by Expert Market Research (EMR), the global induction AC electric motor market size is projected to grow at a CAGR of 13.70% between 2024 and 2032. Aided by the increasing industrial automation and the rising demand for energy-efficient motors, the market is expected to grow significantly by 2032.
Induction AC electric motors, known for their simplicity, reliability, and high efficiency, are widely used across various industries. These motors operate on the principle of electromagnetic induction and are favoured for their durability and low maintenance requirements. They find extensive applications in sectors like manufacturing, automotive, HVAC (heating, ventilation, and air conditioning), and consumer electronics.
Continuous technological advancements in motor design and materials have led to the development of more efficient, compact, and cost-effective induction motors, which further boosts the induction AC electric motor growth. These innovations are attracting industries seeking to upgrade their motor systems. With increasing awareness of energy conservation and greenhouse gas emissions, there are stricter regulations and standards for energy efficiency in electric motors. This regulatory environment is driving the demand for high-efficiency induction AC electric motors.
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The expanding industrial sector, particularly in emerging economies, and the growing trend of automation in manufacturing processes have led to increased adoption of induction motors. As per the induction AC electric motor analysis, the global increase in the construction of commercial and residential buildings, coupled with the rising demand for energy-efficient HVAC systems, is fuelling the market growth.
The shift towards electric vehicles (EVs) and hybrid vehicles is creating a substantial demand for induction AC electric motors, which are essential components in these vehicles. The future outlook remains optimistic as ongoing research and development in motor technology, and the increasing focus on renewable energy sources are expected to propel the induction AC electric motor market demand.
The Asia-Pacific region leads the global market, driven by rapid industrialisation, infrastructure development, and the presence of key automotive manufacturers in countries like China, India, and Japan. North America and Europe also hold significant market shares, supported by advanced manufacturing sectors and stringent energy efficiency regulations. As the industry adapts to evolving technological and environmental landscapes, the induction AC electric motor market is expected to witness sustained expansion and innovation.
Induction AC Electric Motor Market Segmentation
The market can be divided based on type, efficiency rating, speed, end use, and region.
Market Breakup by Type
- < 1 kV
- 1 kV – 6.6 kV
- 6 kV
Market Breakup by Efficiency Rating
- IE1
- IE2
- IE3
- IE4
Market Breakup by Speed
- Ultra-High-Speed Motors
- High-Speed Motors
- Medium Speed Motors
- Low Speed Motors
Market Breakup by End Use
- Industrial
- Motor Vehicle
- HVAC
- Household
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Induction AC Electric Motor Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global induction AC electric motor market. Some of the major players explored in the report by Expert Market Research are as follows:
- ABB Ltd.
- Rockwell Automation, Inc.
- Siemens AG
- ARC Systems, Inc.
- Sinotech, Inc.
- Others
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