According to the new report published by Sprint Stat Research, the global AC electric motor market in oil and gas industry was valued at USD 7 billion in 2018 and is projected to reach USD 10 billion by 2025, at a growth rate of 5% in 2019-2025.
AC electric motors are used heavily in oil and gas industries because of advanced technological developments that has allowed the industry to penetrate both existing and new market. AC electric motors have a variety of benefits such as good speed variation, highly durable, speedy acceleration in starting torque, low maintenance cost, and ease of operations which gives these motors an edge over other alternatives as they can be used widely in almost every machine.
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The market is fragmented due to the presence of a large number of companies. With emerging economies industrializing at a faster rate and more urbanized cities developing, AC electric motors sales would also increase exponentially as it is required for utilize based infrastructure.
The AC electric motor market in oil and gas industry is segmented on the basis of type, voltage, and region. Based on type, the global AC electric motor market in oil and gas industry is divided into synchronous and induction. On the basis of voltage, the global AC electric motor market in oil and gas industry bifurcated into less than 1 kV, 1-6.6 kV, and more than 6.6 kV. Region wise, the AC electric motor market in oil and gas industry is categorized into Asia Pacific, Middle East and Africa, Latin America, North America, and Europe with its major countries.
Major players profiled in the report are Hitachi, ARC System, WEG SE, Yaskawa, RockWell, Schneider Electric, Siemens, Regal Beloit, Johnson Electric, Allied Motion, General Electric, ABB, Nidec Corporation, and others.
This research report provides in-depth assessment of AC electric motor market in oil and gas industry driving factors and features. The report highlights detailed analysis of this market across various countries in the region. It provides a market outlook for 2014-2025 and sets the forecast within the context of AC electric motor market in oil and gas industry, including latest technological developments as well as offerings in the market.
The report also presents a detailed overview on market segmentation. Overall, this research report shows historic, on-going, and estimated market analysis in terms of value and volume, analysis of niche industry developments and market share analysis. Detailed profiles of industry players are also included in the scope of the report to evaluate their business strategies, key offerings, and recent developments in the AC electric motor market in oil and gas industry space.
The report segments the global AC electric motor market in oil and gas industry as follows:
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