24-Sep-2020 | Zion Market Research
According to the report published by Zion Market Research, global demand for AC Electric Motor Sales in Oil & Gas market was valued at approximately USD 9.8 Billion in 2019, and is expected to generate revenue of around USD 16.8 Billion by end of 2026, growing at a CAGR of around 5.1% between 2020 and 2026. This development can be credited to the computerization in oil & gas industry and transition to energy competent motors in oil & gas sector.
The leading companies in the global AC electric motor sales in oil & gas market are Toshiba Corporation, ABB, Schneider Electric, Siemens, WEG, Rockwell, and General Electric.
The Induction Motor Category By Type Is Predicted To Be The Biggest Catalyst During The Forecast Period For The AC Electric Motor Sales In Oil & Gas Market
On the basis of type, the AC electric motor sales in oil & gas market is divided into synchronous and induction motor. The induction motor category is predicted to have the biggest share of the global market by 2025. This is owing to the robustness, simplicity, and low cost of these motors. They are used widely and are suitable for almost all kinds of devices.
Asia Pacific Predicted To Add Up For The Biggest Market Size In The Years To Come
The AC electric motor sales in oil & gas market has been studied by experts at Zion Market Research and divided into 6 main areas on the basis of regions. These are North America, South America, Europe, Africa, Asia Pacific, and the Middle East. The Asia Pacific market is predicted to be the biggest AC electric motor in oil & gas market from 2019 to 2025. Rising rapid industrial growth, particularly in the oil & gas sector are some of the major factors accountable for the development of the AC electric motor in oil & gas market. In addition to this, sale of AC electric motor in oil & gas sector in Asia Pacific is mainly boosted by nations such as Japan, China, and India. The global consumption of energy in Asia Pacific is predicted to reach 47% by 2035 from 42% in 2016, which might be more than the total share of Europe, North America, and Eurasia.
Browse the full “AC Electric Motor Sales In Oil & Gas Market Type (Induction and Synchronous), Voltage (Less Than 1kV, Between 1 kV And 6.6 kV, And Greater Than 6.6 kV), Output Power (HP) (Less Than 1 HP and Greater Than 1 HP), Output Power (kW) (0.12 kW to 7.5 kW, 7.5 kW to 110 kW, and 110 kW to 1000 kW, and More Than 1000 kW): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/ac-electric-motor-sales-in-oil-gas-market
The global AC electric motor sales in oil & gas market is segmented as follows:
By output power (HP)
By output power (kW)
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