According to a new report, published by KBV research, The Global AC Electric Motor Market size is expected to reach $22.4 billion by 2030, rising at a market growth of 4.5% CAGR during the forecast period.
The Aftermarket segment is experiencing a CAGR of 5.6% during (2023 - 2030). Many industries worldwide have aging motor infrastructure, with motors reaching the end of their operational lifespan or requiring maintenance and repairs. As these motors age, their efficiency may decline and become more prone to breakdowns and failures. This creates a growing demand for aftermarket services, including motor repairs, refurbishments, and replacements, to ensure industrial machinery’s continued operation and reliability.
The 1,000 HP up to 10,000 HP segment is leading the Global AC Electric Motor Market by Output Power in 2022; thereby, achieving a market value of $8.9 billion by 2030. Motors in the 1000 HP to 10,000 HP range are typically used in heavy industrial applications that require high power output to drive large machinery and equipment. Industries such as mining, oil and gas, petrochemicals, metals, pulp and paper, and utilities rely on these high-power motors to operate pumps, compressors, conveyors, crushers, fans, and other critical equipment. The demand for AC motors in this power range is driven by the need for reliable, high-performance solutions to support industrial processes.
The HVAC segment is registering a CAGR of 5.3% during (2023 - 2030). The worldwide construction of residential, commercial, and industrial buildings drives demand for HVAC systems to provide heating, cooling, and ventilation. AC electric motors are integral components in HVAC equipment such as air conditioners, heat pumps, fans, blowers, and air handlers. As construction activity and infrastructure development expand, the demand for HVAC systems and associated motors grows correspondingly.
Full Report: https://www.kbvresearch.com/ac-electric-motor-market/
The Asia Pacific region dominated the Global AC Electric Motor Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8.9 billion by 2030. The North America region is anticipating a CAGR of 3.9% during (2023 - 2030). Additionally, The Europe region would exhibit a CAGR of 4.3% during (2023 - 2030).
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