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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Induction AC Electric Motor Market Size
The North America induction AC electric motor market attained a value of about USD 5.34 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 12.7% to reach nearly USD 15.68 billion by 2032.
North America Induction AC Electric Motor Market Outlook
- The IE3 efficiency level, mandated by the US Department of Energy, has accelerated the adoption of premium efficiency motors, resulting in substantial energy savings and environmental benefits for the country.
- Increased demand for electric motors from the robotics, autonomous technology, and electric vehicle industries has driven market’s growth.
- The US is home to major AC electric motor manufacturers like Siemens, General Electric, and Rockwell Automation. These companies are investing in product innovation and expanding their AC motor offerings to meet the increasing demand.
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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