AC Electric Motor Sales In Oil & Gas Market Size, Share, Trends, Growth and Forecast 2032

AC Electric Motor Sales In Oil & Gas Market Insights

Zion Market Research has published a report on the global AC Electric Motor Sales In Oil & Gas Market, estimating its value at USD 13.77 Billion in 2023, with projections indicating that it will reach USD 21.82 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 4.7% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the AC Electric Motor Sales In Oil & Gas industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global AC Electric Motor Sales In Oil & Gas Market: Overview

AC electric motor is powered by alternating current and comprises of two main parts, namely, an outside stator possessing coils supplied with AC to generate a first rotating magnetic field along with an inside rotor attached to the output shaft creating a second rotating magnetic field.

Global AC Electric Motor Sales In Oil & Gas Market: Growth Factors

The massive expansion of AC electric motor sales in oil & gas market can be attributed to the rapid technological breakthroughs witnessed in the oil & gas industry. Large-scale automation in the oil & gas industry along with an exploration of new oil & gas reserves in the African region is anticipated to offer new growth avenues for the AC electric motor sales in oil & gas market. However, the stagnant growth witnessed in oil & gas industry as a result of the introduction of strict environmental legislation can inhibit AC electric motor sales in oil & gas market in the next decade.

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Massive product application in HVAC, mining & cement, steel, automotive, petrochemical, pulp & paper, and food & beverages is slated to drive the AC electric motor sales in oil & gas market revenue in the years ahead. Furthermore, growing product popularity and use in cranes, machine tools, pumps, auxiliary generators, centrifugal & reciprocating compressors, and power tools for effective oil & gas exploration & production activities will further impel the growth of AC electric motor sales in oil & gas market in the coming years.

Global AC Electric Motor Sales In Oil & Gas Market: Segmentation

The global AC electric motor sales in oil & gas market can be divided based on type, voltage, output power (HP), and output power (kW).

Based on the type, the AC electric motor sales in oil & gas market can be classified into induction and synchronous.

Voltage wise, the market can be segmented into less than 1kV, between 1 kV and 6.6 kV, and greater than 6.6 kV.

On the basis of Output Power (HP), the market is sectored into less than 1 HP and greater than 1 HP.

Based on Output Power (kW), the market classified into 0.12 kW to 7.5 kW, 7.5 kW to 110 kW, and 110 kW to 1000 kW, and more than 1000 kW.

AC Electric Motor Sales In Oil & Gas Market: Report Scope

Global AC Electric Motor Sales In Oil & Gas Market: Regional Analysis

Based on regions, the global AC electric motor sales in oil & gas market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2017, Asia Pacific contributed to major chunk towards AC electric motor sales in oil & gas market share owing to rise in industrialization, population, and urbanization. In addition, the discovery of new oil & gas reserves in the Gulf of Thailand, South China Sea, Great Australian Bight, and Turkmenistan is likely to generate lucrative growth avenues for the market in the region. The tremendous requirement for enhanced oil recovery methods in countries such as India, Thailand, Malaysia, Indonesia, and Australia is anticipated to further boost AC electric motor sales in oil & gas market growth trends in the Asia Pacific.

The Middle East & Africa is projected to dominate AC electric motor sales in oil & gas market during the forecast timeframe. Massive investments of key industry players in the power generation, as well as oil & gas exploration projects will stimulate the business growth in the region. Furthermore, the humungous presence of hydrocarbon reserves along with massive production of petroleum witnessed in Middle East countries such as Kuwait, Iraq, Saudi Arabia, Iran, UAE, etc. is anticipated to enhance the expansion of AC electric motor sales in oil & gas market in Middle East & Africa.

With U.S. and Russia becoming key oil producers in recent years, it is more likely that the AC electric motor sales in oil & gas market in North America and Europe will grow at a prominent rate.

Global AC Electric Motor Sales In Oil & Gas Market: Competitive Players

The key players of the global AC electric motor sales in oil & gas market include:

• BB (Switzerland)
• Siemens (Germany)
• Schneider Electric (France)
• Rockwell (U.S.)
• WEG (Brazil)
• Toshiba Corporation (Japan)
• General Electric (U.S.).

The Global AC Electric Motor Sales In Oil & Gas Market is segmented as follows:

By Type 

• Induction
• Synchronous 

By Voltage 

• Less Than 1kV
• Between 1 kV And 6.6 kV
• Greater Than 6.6 kV 

Output Power (HP) 

• Less Than 1 HP
• Greater Than 1 HP

By Output Power (kW) 

• 0.12 kW to 7.5 kW
• 7.5 kW to 110 kW
• 110 kW to 1000 kW
• More Than 1000 kW

Global AC Electric Motor Sales In Oil & Gas Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa