The North America AC Electric Motor Market would witness market growth of 3.9% CAGR during the forecast period (2023-2030).
The US market dominated the North America AC Electric Motor Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,743.1 Million by 2030. The Canada market is showcasing a CAGR of 6.2% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 5.3% during (2023 - 2030).
AC electric motors drive heavy machinery and equipment used in mining, construction, and earthmoving applications. They power excavators, bulldozers, loaders, crushers, and drilling rigs, providing the high torque and rugged performance required for demanding operating conditions in mining sites and construction projects. AC motors offer reliability, durability, and efficiency in challenging environments such as quarries, mines, and construction sites. The expansion of the mining sector provides a growth environment for the market.
Several trends are shaping the market landscape, reflecting industry dynamics, technological advancements, and evolving customer preferences. For instance, integrating smart technologies and internet of things (IoT) capabilities into AC motor systems is gaining momentum. Smart motors with sensors, connectivity features, and advanced analytics enable real-time monitoring, predictive maintenance, and remote diagnostics. These smart motor systems offer insights into motor performance, health, and energy consumption, facilitating proactive maintenance strategies, optimizing operational efficiency, and minimizing downtime.
If Canada’s electronics manufacturing industry expands, there will be a greater need for AC electronic motors, which are a component of many types of manufacturing machinery. These motors are essential for powering conveyor belts, robotic arms, pick-and-place machines, CNC machines, and other automated systems used in electronics assembly. According to the Government of Canada, in 2021, electronics manufacturing revenues reached $15.5 billion compared to $14.4 billion in 2020, an increase of 8.1% in Canada. Total revenues were $17.9 billion in 2021, increasing from $16.3 billion in 2020. In 2021, net revenues reached $2.02 billion compared to $1.96 billion in 2020, or an increase of 3%. Therefore, the growing mining sector and increasing electronics manufacturing in the region drive the market’s growth.
Free Valuable Insights: The AC Electric Motor Market is Predict to reach USD 22.4 Billion by 2030, at a CAGR of 4.5%
Based on Sales Type, the market is segmented into New Sales, and Aftermarket. Based on Output Power, the market is segmented into 1,000 HP up to 10,000 HP, 10,000 HP up to 20,000 HP, and 20,000 HP up to 30,000 HP. Based on End-Use, the market is segmented into Industrial Machinery, HVAC, Transportation, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Sales Type
By Output Power
By End Use
By Country
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