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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Leading Companies in the North America Induction AC Electric Motor Market
Market players are developing smaller, lighter, and more compact motors to meet the growing demand for applications like electric vehicles, renewable energy, and industrial automation
ABB Ltd. was founded in 1988 and is based in Sweden and Zürich, Switzerland. It is ranked 340th in the Fortune Global 500 list of 2020 and the company’s traditional core activities include power generation, transmission and distribution, industrial automation, and robotics.
Rockwell Automation, Inc. was founded in 1903 as Allen-Bradley in Wisconsin, United States. It is a multinational corporation focused on industrial automation and digital transformation, providing control systems, software, and services for a variety of industries.
Siemens AG was founded in 1847 and its headquarters are in Munich, Germany. Siemens is a multinational conglomerate focused on electrification, automation, and digitalisation, operating businesses in energy, healthcare, infrastructure, and manufacturing.
ARC Systems, Inc. was founded in 1986 in Massachusetts, United States. The company provides industrial automation software and services, specialising in manufacturing execution systems (MES) and industrial internet of things (IIoT) solutions.
Other key players in the North America induction AC electric motor market include Emerson Electric Co., among others.
North America Induction AC Electric Motor Market Report Snapshots
North America Induction AC Electric Motor Market Size
North America Induction AC Electric Motor Market Growth
North America Induction AC Electric Motor Market Trends
North America Induction AC Electric Motor Market Share
North America Induction AC Electric Motor Companies
North America Induction AC Electric Motor Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of USD 5.34 billion.
The induction AC electric motor market in North America is expected to grow at a CAGR of 12.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 15.68 billion by 2032.
Characteristics such as healthy lifespan, adaptability, flexibility, and low noise output, among others are augmenting the applications of induction AC electric motors in several commercial and industrial uses, which is driving the market’s growth.
Key trends include the use of induction AC electric motors in heating, ventilation, and air conditioning (HVAC) equipment to save energy and reduce carbon dioxide emissions along with rising focus on energy efficiency.
Countries considered in the market are United States and Canada.
The different types of induction AC electric motors in the market are < 1 kV, 1 kV – 6 kV, and > 6 kV.
The market, based on efficiency ratings, can be classified into IE1, IE2, IE3, and IE4.
The significant applications of induction AC electric motor are industrial, motor vehicle, HVAC, and household, among others.
Key players in the market are ABB Ltd., Rockwell Automation, Inc., Siemens AG, ARC Systems, Inc., and Emerson Electric Co., among others.
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