AC Electric Motor Sales in Oil & Gas Market is accounted for $9.18 billion in 2017 and is expected to reach $15.87 billion by 2026 growing at a CAGR of 6.3%. Factors such as rising demand for the technological developments and increase in the transition to energy-efficient motors in oil & gas industry are driving the market growth. However, stringent government regulations and the constant growth of the oil & gas industry are hampering the growth of the market.
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.
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Based on the output power (HP), > 1 HP segment has a lucrative market share during the forecast period. Due to the wide application of these motors in the oil & gas sector including pumps, auxiliary generators, centrifugal & reciprocating compressors, and cranes. The trend is highly evident in developed economies, wherein the purchasing power is high. By geography, the Asia Pacific region is driven by increasing rapid industrial development, especially in the oil & gas industry is some of the key factors responsible for the growth of the AC electric motor market.
Some of the key players in AC Electric Motor Sales in Oil & Gas market include ABB, Allied Motion, ARC System, ATB, GE, Hitachi, Hoyer, Johnson Electric, Nidec Corporation, Regal Beloit, RockWell, Schneider Electric, Siemens, TMEIC, Toshiba Corporation, WEG SE, and Yaskawa.
– <1 kV Motor
– 1-6.6 kV Motor
– >6.6 kV Motor
– Synchronous Motor
– Induction Motor
Output Power (HP) Covered:
– <1 HP Motor
– >1 HP Motor
Output Power (KW) Covered:
– 0.12-7.5 kW
– 7.5-110 kW
– 110-1,000 kW
– >1,000 kW
– North America
o Rest of Europe
– Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
– South America
o Rest of South America
– Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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This post was originally published on The Picayune Current