AC Motors Market

The AC motors market is projected to reach USD 6.60 billion by 2029 from an estimated USD 4.60 billion in 2024, at a CAGR of 7.5% during the forecast period (2024–2029). The AC motors market is particularly increasing for the ones above 500 kW with increased industrialization and urbanization along with growing demands for heavy-duty applications in sectors such as oil & gas, mining, power generation, and manufacturing. Such motors are crucial in applications requiring high loads like conveyor systems, cranes, and HVAC systems. In recent times, due to energy transition towards renewable energy sources and electrification, efficient and powerful motors are increasingly being demanded. In addition, the advancements in electric drives and induction motor technologies are further supporting their adoption.

The key players following the strategies between 2021 to 2024, ABB (Switzerland), Siemens (Germany), GE Vernova (US), WEG (Brazil) and NIDEC (Japan). The companies are majorly following product launches, partnerships, collaboration, investment, divestment, contract, joint venture as the strategy to grow and expand the market.

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ABB is a leading power and automation technology company offering a wide range of products, services, and systems, namely, transformers, distribution automation products, high-voltage products, power transmission systems, grid integration systems, and others. The company has over 130 years of experience with motors and generators, and more than 40 years of expertise with drives in manufacturing, servicing and optimizing across a wide range of industries. The company has operations spread across more than 100 countries across 3 regions: Europe, the Americas and Asia, Middle East and Africa. ABB has 476 offices in 85 countries around the world.  ABB provides with general purpose to highly customized designs, synchronous motors and high voltage induction motors provide high efficiency, reliability and availability across all major industries, such as power generation, marine, oil and gas, mining, and data centers; and applications.

The company’s manufacturing facilities are in Switzerland, Sweden, China, Italy, Austria, US, India, Malaysia, Spain, and has facilities in Australia, Denmark, United Kingdom, Ireland, Tanzania, Vietnam, Philippines etc

General Electric Company is a high-tech industrial company that operates worldwide through three segments: Aerospace, Renewable Energy, and Power. In April 2024, General Electric Company completed its transition of splitting into three separate companies with GE Vernova, GE Aerospace, and GE Healthcare all trading under separate stock tickers.

GE operates through four business segments: aerospace, renewable energy, power, and corporate. The power segment provides with AC motors. Along with motors, it provides with generators, automation and control equipment and drives for energy intensive industries such as marine, oil and gas, mining, rail, metals and test systems. General Electric Company operates in over 160 countries. Manufacturing and service operations are carried out at 59 manufacturing plants located in 24 states in the United States and Puerto Rico and at 102 manufacturing plants located in 25 other countries. Manufacturing facilities in Alabama, South Carolina and Tennessee, as well as R&D, sales, distribution and support operations in 46 states.

Related Reports:

AC Motors Market by Type (Induction, Synchronous), Voltage (3 kV-3.6 kV, 3.7-4.9 kV, 5 kV-7.2 kV, above 7.2 kV), Poles (2, 4, 6, 8, 10), Power Rating, End User and Region - Global Trends & Forecast to 2029

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Mr. Rohan Salgarkar
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