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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Induction AC Electric Motor Market Share
1 KV- 6 KV voltage AC electric motors are highly used across industries in US and Canada
The market is segmented based on voltage into < 1 kV, 1 kV – 6 kV, and > 6 kV types. The < 1 kV segment is expected to grow due to high applications in pumps, fans, and compressors. The 1 kV – 6 kV segment, is projected to grow at a high CAGR between 2024 and 2032, driven by their increasing use in industrial applications such as mining and oil & gas. The > 6 kV segment, however, is expected to grow at the highest CAGR due to their high adoption in heavy industries and power plants.
The industrial machinery segment is currently the dominant end-user, while the transportation sector is expected to see the fastest growth in AC motor demand
As per North America induction AC electric motor market analysis, the industrial sector is a major driver for market’s growth as induction motors are widely used in industrial applications such as pumps, compressors, and conveyors. The motor vehicle segment is expected to witness significant growth due to the increasing adoption of electric vehicles, which utilise induction motors for their high torque and efficiency. Induction AC motors are also commonly used in heating, ventilation, and air conditioning (HVAC) equipment, offering energy efficiency and reliability, and are used in various household appliances such as refrigerators, washing machines, and air conditioners.
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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