AC Electric Motor Sales In Oil & Gas Market Size, Share, Growth Report 2030

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.

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.

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.

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), and General Electric (U.S.).

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