Posted on Jan 30th, 2023

The Electric AC Motors Market was at US$ 110 Billion in 2021 and is growing to approx US$ 208 Billion by 2030, with a CAGR growth of 8% between 2022 and 2030.

Electric AC Motors Market: Overview

Electric AC motors serve various purposes, including machine tools, home appliances, HVAC, transportation, and industrial. Electric AC motors are used in industrial settings to convert electrical to mechanical power. Because of their compact size, single-phase electric AC motors are typically employed in tiny appliances like fans, refrigerators, hair dryers, washing machines, and mixers. The market for electric AC motors is expanding as a result of reasons like rising industrial automation, increasing demand for electric AC motor-powered home appliances, low manufacturing costs, durability, and growing use in HVAC applications.

Electric AC Motors Market: Growth Drivers

Due to the excellent efficiency of AC synchronous motors, which is driving a surge in demand for efficient machine control in the automotive industry, the market for electric AC motors is expanding. Furthermore, the need for electric motors is also anticipated to grow due to government laws requiring energy efficiency.

Because electric motors are being used in more industries, the market for them is anticipated to expand. For example, electric motors are often used in the industry for pumps and fans. In addition, three-phase AC induction motors make up most industrial engines due to their dependability and affordability.

Additionally, the rising demand for HVAC systems is boosting the market for electric AC motors. The need for heating and cooling in residential, commercial, and industrial buildings has expanded the heating and air-conditioning (HVAC) business. As a result, the supply of HVAC equipment in buildings is being prioritized as a crucial component during new construction operations. Additionally, it has increased long-term demand for the use of electric motors. The major drivers of the HVAC business are expanding countries, as commercial areas expand along with rising standards of living.

Original Post: Electric AC Motors Market Global Size, Forecast, Analysis & Share Surpass US$ 208 Bn By 2030, At 8% CAGR according CMi