New York City, 02 Oct 2019 : The global electric
AC motors market is estimated to reach USD 166.5 billion by
2026 growing at a CAGR of 8.8% during the forecast period, according to a new
study published by Polaris Market Research. The report ‘Electric
AC Motors Market Share, Size, Trends, & Industry Analysis Report, By Type
(Induction AC Motors, Synchronous AC Motors); By Application (Automotive,
Agriculture, Residential, Commercial, Industrial, Others); By Region: Segment
Forecast, 2019 – 2026’ provides an extensive analysis of
present market dynamics and predicted future trends. In 2018, the Induction AC
Motors segment dominated the global market, in terms of revenue. Asia-Pacific
is expected to be the leading contributor to the global market revenue during
the forecast period.
The increasing automation in
various industrial processes, and use of electric AC motors in diverse
applications such as healthcare, construction, automotive, and consumer goods
among others is expected to support the market growth. Increasing use of
electric AC motors in infrastructural development, and rising construction
activities especially in the developing economies accelerates the market
growth. Other driving factors include rising demand for household appliances,
growing use in HVAC applications, and government support for development of high
efficiency electric AC motors. Growing demand from emerging economies, and
technological advancements are factors expected to provide numerous growth
opportunities in the electric AC motors industry during the forecast period.
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@ https://www.polarismarketresearch.com/industry-analysis/electric-ac-motors-market/request-for-sample
Asia-Pacific generated the highest
revenue in the market during 2017, and is expected to lead the global market
throughout the forecast period. The presence of emerging industries such as
healthcare, agriculture, construction, and automotive, substantial initiatives
in research and development, and favorable government policies drive the market
growth. Rapid industrialization and growth of manufacturing industry further
support the strengthening of electric AC motors industry in the region. The
increasing sale of passenger vehicles, coupled with high penetration of
electric vehicles in countries such as China, and Japan increases the adoption
of electric AC motors in the region.
The different types of electric AC
motors include induction AC motors, and synchronous AC motors. In 2018, the
induction AC motors segment accounted for the highest share in the electric AC
motors industry owing to the increasing demand from industries such as
agriculture, paper & pulp, and chemicals. Some key features offered by
induction AC motors include controlled acceleration, simplicity, low-cost,
quiet, long-lasting, and low power demand on start, among others.
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The well-known companies profiled
in the electric AC motors market report include Siemens AG, Kirloskar Electric
Company, Johnson Electric, Rockwell Automation, Inc., Baldor Electric Company,
Allied Motion Technologies Inc., Ametek Inc., Asmo Co. Ltd., Franklin Electric
Co. Inc., and ABB Limited among others. These companies are consistently launching
new products to enhance their offerings in the electric AC market. With the
advancement of technologies, companies are innovating and introducing new
customized products to cater the growing needs of the customers. Leading
companies are also acquiring other companies, and enhancing their product
offerings to improve their market reach.
About Polaris Market Research
Polaris Market Research is a global market research and consulting
company. The company specializes in providing exceptional market intelligence
and in-depth business research services for our clientele spread across
different enterprises. We at Polaris are obliged to serve our diverse customer
base present across the industries of healthcare, technology, semi-conductors
and chemicals among various other industries present around the world
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