Market Size of Europe Alternating Current (AC) Motor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Alternating Current (AC) Motor Market Analysis
The Europe Alternating Current (AC) Motor market is expected to register a CAGR of 4.2% over the forecast period (2022-2027). The demand for AC motors is rising owing to their capability to operate at higher voltages and energy efficiency with greater torque and speed.
- The AC motors are comparatively easy to maintain and are being used increasingly in the production of motor vehicles. Also, the growing adoption of energy-efficient motors for industrial applications and low energy consumption are the major factors responsible for the increasing demand for electric motors in Europe.
- The new EU eco-design measures for electric motors and variable speed drives came into effect on 1 July 2021, aimed at improving the energy efficiency of these products across the EU. The new regulation reflects technological progress and market evolution. Furthermore, according to European Commission, the overall effect of the newly revised regulation will increase to 110 TWh by 2030, which is equivalent to the electricity consumption of the Netherlands. Such initiatives of the EU for the deployment of super-efficient appliances and increasing focus on energy-efficient electric motors & drives are creating demand for AC motors in the region.
- Moreover, the growing adoption of AC motors in the automation of industrial processes, increasing demand for electric AC motor-operated household appliances, and growing use in HVAC applications are responsible for the growth of the electric AC motors market. However, motors with high powers generate extensive vibration and require high maintenance, hindering market growth.
- According to the Ministry of Foreign Affairs, Europe is a larger market for AC motors as Germany is one of the large importers of AC motors, followed by Italy, France, and the Netherlands. China is a strong and price-competitive supplier, dominating supplies of AC motors to Europe.
- The global supply chain disruptions due to the Covid-19 pandemic are the recent case of impacts on the AC motors in the region. The slowdown of several industries created due to the shutdown affected the market. Further, the trade war between the US and China halted the supply chain between Europe and China for motor components and spare parts as the major regional countries largely import the motors and related spare parts from China.
