China AC Motor Market Size (2024 - 2029)

China AC Motor Market Analysis

The China AC Motor Market size is estimated at USD 2.89 billion in 2024, and is expected to reach USD 10 billion by 2029, growing at a CAGR of 5.29% during the forecast period (2024-2029).

• The Chinese manufacturing sector has a significant role in China's rapidly transforming economy, witnessing the rapid evolution of the Internet of Things as Industrial 4.0 gains momentum worldwide. This large-scale transformation has put the country in one of the leading positions in the AC motor market.
• Also, in October 2023, the Government of China announced that it would remove all restrictions on foreign investment access in the manufacturing sector. This move further demonstrates China's determination to continue promoting high-quality opening up with specific measures, which will also enhance the development of the domestic manufacturing sector, thus supporting market growth.
• China has been focusing on high-end manufacturing, power utilities, and oil and gas industries, boosting the usage of AC motors. For instance, the Chinese government's ambitious 'Made in China 2025' initiative, partially inspired by Germany for Industry 4.0, aims to boost the country's competitiveness in the manufacturing sector.
• Moreover, China has a large young population and a strong export sector, with a potential consumer base that far outstrips most other nations in the developed and developing world. Rising urbanization and a rapidly growing young population drive changes in consumer demand in the food and beverage industry. Such factors are likely to drive the growth of the studied market in China significantly.
• Fierce competition among various food companies also forces the food and beverage companies to introduce world-class manufacturing practices. This, in turn, also results in the increased adoption of AC motors.
• However, various barriers are hampering the adoption of AC motors. The significant costs for the motors are the energy, maintenance, and initial purchase costs.

China AC Motor Industry Segmentation

An electric motor is a machine that converts an alternating current to a mechanical motion. The applications of an AC motor include industrial bulk energy conversion from electrical to mechanical and household small power conversion.

The Chinese alternating current (AC) motor market is segmented by type (induction AC motors (single and poly phase) and synchronous AC motors (DC excited rotor, permanent magnet, hysteresis motor, reluctance motor)) and end-user industry (oil and gas, chemical and petrochemical, power generation, water and wastewater, metal and mining, food and beverages, and discrete industries). The report offers market size and forecasts for all the above segments in value (USD).