Global AC Electric Motor Market to Reach $25 Billion by 2031: Allied Market Research

Favorable features of AC electric motors such as high torque, low maintenance requirement, low noise levels, and better torque to weight ratio to boost the growth of global ac electric motor market. Moreover, rise in electronic computation in automation and construction applications has boosted the demand for ac electric motors in electric vehicles and other automotive, which will create new growth opportunities for the global market.

Portland,OR, Nov. 30, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, theglobal AC electric motor marketgenerated $15.7 billion in 2021, and is projected to reach $25 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
The report offers a detailed segmentation of the global ac electric motor market based on output power, end user industry, sales type, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
Based on output power, the 10000 HP to 20000 HP segment held the major market share in 2021, holding nearly two-fifths of the global ac electric motor market share, and is expected to maintain its leadership status during the forecast period. However, the 1000 HP up to 10000 HP segment, is expected to cite the fastest CAGR of 5.5% during the forecast period.
On the basis of end user industry, the industrial machinery segment held the largest market share in 2021, accounting for more than two-fifths of the global ac electric motor market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the others segment, is expected to cite the highest CAGR of 5.6% during the forecast period.