Electric AC Motors Market Size Worth $ 29.92 Billion by 2034 | CAGR: 4.6%

The electric AC motors market size is expected to reach USD 29.92 billion by 2034, according to a new study by Polaris Market Research. The report “Electric AC Motors Market Share, Size, Trends, Industry Analysis Report: By Motor Type (Induction Motors, Synchronous Motors, and Others), Power Output, Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The electric AC motors market involves the production and application of motors powered by alternating current (AC), which are used to convert electrical energy into mechanical energy. These motors are vital across various sectors, including industrial machinery, electric vehicles (EVs), home appliances, and HVAC systems. Types of AC motors are induction motors and synchronous motors. The motors serve a wide range of applications due to their efficiency, durability, and ease of maintenance. In recent years, the electric AC motors market demand has increased driven by advancements in motor technologies, such as smart systems integrating AI and IoT for predictive maintenance and energy optimization.

The increasing demand for energy-efficient solutions and automation in industries worldwide boosts the electric AC motors market growth. Government regulations promoting energy efficiency and sustainability have accelerated the adoption of electric AC motors, particularly in applications such as HVAC and electric vehicles. The shift toward renewable energy sources has contributed to the demand for AC motors, especially in solar and wind energy systems, where motor reliability and efficiency are crucial.

The electric AC motors market is poised for continued growth, with innovations in motor design making them more energy-efficient and compact. Technological advancements have enhanced motor performance, enabling use in more applications with lower energy consumption, lower operating costs, and longer lifespans. This market is expanding across key industries, driven by the need for smarter, more efficient systems.

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Top of FormElectric AC motors Market Report Highlights

• In terms of motor type, in 2024, the induction motor segment held the dominant share of the electric AC motors market revenue due to its cost-effectiveness, durability, and widespread use across industrial and commercial applications.
• Based on application, the electric vehicles (EVs) segment held the largest market share in 2023 due to the growing demand for energy-efficient, high-performance motors to meet the increasing adoption of EVs globally.
• In 2024, Asia Pacific accounted for the largest share of the electric AC motors market due to rapid industrialization, the expansion of manufacturing hubs, and significant investments in renewable energy and EV production.
• The North America market is expected to register the highest CAGR during the forecast period due to the increasing adoption of advanced industrial automation, rising demand for electric vehicles, and strong government incentives promoting energy-efficient technologies.
• A few global key market players are ABB Ltd.; Siemens AG; WEG S.A.; Nidec Corporation; General Electric Company; Regal Rexnord Corporation; Schneider Electric SE; Toshiba Corporation; Hitachi, Ltd.; Mitsubishi Electric Corporation; Rockwell Automation, Inc.; Johnson Electric Holdings Limited; Teco Electric & Machinery Co., Ltd.; Allied Motion Technologies Inc.; and Kirloskar Electric Company.

Polaris Market Research has segmented the electric AC motors market report on the basis of motor type, power output, application, and region:

By Motor Type Outlook (Revenue, USD Billion, 2020–2034)

• Induction Motors
• Synchronous Motors
• Others

By Power Output Outlook (Revenue, USD Billion, 2020–2034)

• Less than 1 HP
• 1 HP to 10 HP
• More than 10 HP

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Industrial Machinery
• HVAC Equipment
• Electric Vehicles (EVs)
• Home Appliances
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Electric AC Motors Market Report Scope