AC Motor Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

The global AC motor market size is projected to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising demand for energy efficient motors to reduce carbon emission. Additionally, growing population and rising demand for consumer products coupled with emerging energy shortage are key factors driving the market growth.The rising requirement for energy saving consumer appliances and other household items present a key aspect that encourages the original equipment manufacturers (OEMs) to adopt AC motors in their products. AC motor is widely considered to be effective in power consumption with higher efficiency use, due to which, the demand for AC motors are rising significantly across several end-users. AC motor usually has outside stator wrapped with coils supplied to produce a rotating magnetic field. This motor offers several advantages such as flexible, easy to control, and low startup power demands that protects components on the receiving end. The motor is also considered to be major power sources for a series of applications due to its excellent properties and functions.

Market Trends, Drivers, Restraints, and Opportunities
Growing concerns for reduction of carbon emissions and rising demand for energy efficient motors are anticipated to drive the market growth.
Rising electricity prices and strict regulatory standards pertaining to save electricity consumption are expected to propel the market expansion.
Escalating demand for consumer goods, increasing production of home appliances, motor vehicles, and other motor driven systems present key drivers for the market growth.
Outbreak of COVID-19 pandemic has affected the demand for electric motors and restricted the production units of manufacturers. This is projected to hamper the market growth during the forecast period.
Lack of awareness about the benefits of energy efficient AC motors act as a major restraint that can impede the growth of the AC motors ma