Global AC Electric Motor in Oil and Gas Market - Size and Forecast Analysis, 2021-2035

The global AC electric motor in oil and gas market was valued at USD 13.89 Billion in 2024 and is projected to reach USD 21.94 Billion by 2033 at a CAGR of around 5.21% between 2024 and 2033. With increasing innovation in automation in oil and gas industry along with higher demand for AUVs and ROVs and finding new reserves in remote locations of Africa are key factors for growth in AC electric motor in oil and gas market. Further, with increasing application in a variety of industries such as mining, cement, steel, automotive, petrochemical, pulp and paper, HVAC, etc. would led to high demand for AC Electric motors in oil and gas industry. Further, due to its improved and efficient power generation, it is being used in cranes, compressors, pumps, machine tools, etc. which will generate higher sales for AC electric motors. However, due to mature markets the oil and gas industry growth in these regions would be stagnant hence the AC electric motors markets would also be stagnant. Other geopolitical factors and stringent environmental regulation by respective countries government can also act as a deterrent for AC electric motors sales. The AC electric motor in oil and gas market is segmented on the basis of type, voltage, and region.

Motors that use alternating current for power consumption through the mechanism of electromagnetic induction are called AC electric motors. These motors are efficient in changing power consuming pattern. AC electric motors consists of two key parts i.e. stator and rotor. As the name suggests, stator remains stationary whereas rotor rotates. Electric motors converts power from electrical energy to mechanical energy especially for bulk usage.

Type Segment Analysis

On the basis of type, the global AC electric motor in oil and gas market is divided into synchronous and induction. The induction motor segment is expected to have the largest market share in AC electric motor in oil and gas market. Increasing demand due to its wide applications in many heavy industries over synchronous motors is the prime reason for the market growth. Induction motor segment also provides added advantage of being more durable, cost effective, robust and high operational efficiency even under bad conditions has favoured it over other motor segments.

Voltage Segment Analysis

Based on voltage, the global AC electric motor in oil and gas market report is divided into less than 1 kV, 1-6.6 kV, and more than 6.6 kV. Among these, voltage measures, the 1-6.6 kV segment have considerable advantage over other end-user segments as they are currently ahead of the pack in terms of usage in industrial sectors, there creating demand for AC electric motors. The 1-6.6 kV segment is applied in pumps, compressors, production areas and interstate pipelines of the oil and gas industry, hence it is in great demand.

Regional Analysis

The AC electric motor in oil and gas market has analysed across the five regions including, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa with its major countries. Asia Pacific has the significant amount of growth rate among all regions and is projected to have the key market share during the forecast period. Increasing demand in countries like China, Japan due to favourable economic conditions, the rising income levels of the middle class population and rapid industrialization, has resulted in high demand for industrial sectors and thereby creating demand for AC electric motors.

With China’s domestic need for oil and gas surpassing its production by a huge margin, importing of oil and gas is done in huge numbers which results in demand for machinery and hence more manufacturers would invest in R&D to provide better efficient motors to run these machines smoothly, hence the AC electric motors market also would grow. Sales of AC electric motors in Asia pacific alone is projected to grow more than the sales of North America, Europe and Oceania combined. Another key region for global AC electric motor in oil and gas market to grow is Europe. With abundant oil and gas reserves and one of the world’s largest oil and gas exporting regions, the Middle East market for AC Electric motor in oil and gas would also increase exponentially.

Competitive Scenario

The report covered the detailed competitive analysis including company profiles of the major industry players operating in the global AC electric motor in oil and gas market. Key players profiled in the report are Regal Beloit, Johnson Electric, WEG SE, Yaskawa, RockWell, Allied Motion, Hitachi, ARC System, Schneider Electric, Siemens, General Electric, ABB, Nidec Corporation, and others.

AC Electric Motor in Oil and Gas Market Report Scope

The Global AC Electric Motor in Oil and Gas Market report is segmented as follows:

By Type,

• Induction
• Synchronous

By Voltage,

• Less than 1 kV
• 1 kV to 6.6 kV
• More than 6.6 kV

By Output Power,

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

By Region,

• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Southeast Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Rest of Middle East & Africa

Key Market Players,

• Regal Beloit
• Johnson Electric
• WEG SE
• Yaskawa
• RockWell
• Allied Motion
• Hitachi
• ARC System
• Schneider Electric
• Siemens
• General Electric
• ABB
• Nidec Corporation
• Other Major Players