AC/DC Motor Market

The article provides a detailed analysis of the global AC/DC motor market, including forecasts of consumption trends, market performance, and value projections from 2022 to 2030. It highlights the expected CAGR growth rates in volume and value terms, as well as the key countries with the highest volumes of consumption, production, imports, and exports. The different types of AC/DC motors, their import and export prices, and the notable fluctuations in trends over the analyzed period are also discussed.

Market Forecast

Driven by increasing demand for AC/DC motors worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 881M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $123.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of AC/DC Motors

After four years of growth, consumption of AC/DC motors decreased by -8% to 721M units in 2022. The total consumption volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the maximum volume at 784M units in 2021, and then fell in the following year.

The global AC/DC motor market revenue was estimated at $87.2B in 2022, surging by 4.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +35.2% against 2016 indices. As a result, consumption reached the peak level of $127.1B. From 2014 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (115M units), the United States (77M units) and Brazil (57M units), with a combined 35% share of global consumption. Italy, India, Romania, Japan, Turkey, Mexico, Malaysia, Poland, Germany and Thailand lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +9.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($16B) led the market, alone. The second position in the ranking was held by the United States ($5.5B). It was followed by China.

In Japan, the AC/DC motor market increased at an average annual rate of +4.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+2.6% per year) and China (+2.5% per year).

The countries with the highest levels of AC/DC motor per capita consumption in 2022 were Romania (1,514 units per 1000 persons), Italy (894 units per 1000 persons) and Malaysia (582 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Romania (with a CAGR of +10.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of AC/DC Motors

After six years of growth, production of AC/DC motors decreased by -17.9% to 720M units in 2022. Overall, the total production indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +83.3% against 2015 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 72%. Global production peaked at 877M units in 2021, and then declined markedly in the following year.

In value terms, AC/DC motor production reached $89.2B in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 9% against the previous year. Global production peaked at $89.8B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of AC/DC motor production was China (465M units), accounting for 65% of total volume. Moreover, AC/DC motor production in China exceeded the figures recorded by the second-largest producer, Italy (49M units), ninefold. The third position in this ranking was held by Japan (29M units), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +2.1%. The remaining producing countries recorded the following average annual rates of production growth: Italy (+1.8% per year) and Japan (+4.7% per year).

Imports

World Imports of AC/DC Motors

In 2022, after five years of growth, there was significant decline in purchases abroad of AC/DC motors, when their volume decreased by -9.8% to 523M units. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. As a result, imports attained the peak of 580M units, and then shrank in the following year.

In value terms, AC/DC motor imports expanded markedly to $36.5B in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the United States (86M units), distantly followed by India (42M units), Brazil (39M units), Mexico (38M units), Turkey (26M units) and Italy (24M units) represented the key importers of AC/DC motors, together achieving 49% of total imports. Thailand (22M units), Malaysia (21M units), Germany (19M units), Romania (18M units), Poland (18M units), France (12M units) and China (9.5M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to AC/DC motor imports into the United States stood at +1.3%. At the same time, Romania (+22.5%), India (+19.5%), Poland (+6.4%), Brazil (+5.7%), Turkey (+5.2%), Italy (+4.4%), Mexico (+4.4%), China (+4.2%) and Germany (+2.4%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in the world, with a CAGR of +22.5% from 2012-2022. By contrast, France (-2.1%), Thailand (-3.6%) and Malaysia (-3.7%) illustrated a downward trend over the same period. India (+6.3 p.p.), Romania (+2.9 p.p.) and Brazil (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while the United States, Malaysia and Thailand saw its share reduced by -2.6%, -3.8% and -3.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest AC/DC motor importing markets worldwide were the United States ($6.6B), Germany ($3.7B) and China ($1.8B), with a combined 33% share of global imports. Italy, Mexico, France, Turkey, India, Poland, Brazil, Thailand, Malaysia and Romania lagged somewhat behind, together accounting for a further 20%.

Romania, with a CAGR of +10.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, electric motors; AC motors, single-phase (297M units) was the main type of AC/DC motors, achieving 57% of total imports. Electric motors (106M units) took the second position in the ranking, followed by electric motors (71M units) and electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW (32M units). All these products together took approx. 40% share of total imports. Electric motors; AC motors, multi-phase, of an output exceeding 75kW (13M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to electric motors; AC motors, single-phase imports of stood at +1.8%. At the same time, electric motors; AC motors, multi-phase, of an output exceeding 75kW (+24.6%), electric motors (+7.6%), electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW (+4.8%) and electric motors (+1.8%) displayed positive paces of growth. Moreover, electric motors; AC motors, multi-phase, of an output exceeding 75kW emerged as the fastest-growing type imported in the world, with a CAGR of +24.6% from 2012-2022. Electric motors (+5 p.p.) and electric motors; AC motors, multi-phase, of an output exceeding 75kW (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while electric motors and electric motors; AC motors, single-phase saw its share reduced by -2.3% and -5.7% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW ($10.9B), electric motors; AC motors, single-phase ($6.5B) and electric motors; AC motors, multi-phase, of an output exceeding 75kW ($6.5B) appeared to be the products with the highest levels of imports in 2022, together accounting for 65% of global imports. Electric motors, electric generators, electric generators, electric motors, generators and electric generators lagged somewhat behind, together accounting for a further 35%.

Among the main imported products, electric generators, with a CAGR of +12.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

In 2022, the average AC/DC motor import price amounted to $70 per unit, growing by 22% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was electric generators ($12,086 per unit), while the price for electric motors ($15 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by electric generators; AC generators, (alternators), of an output exceeding 750kVA (+6.4%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average AC/DC motor import price stood at $70 per unit in 2022, rising by 22% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($192 per unit), while Romania ($9.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of AC/DC Motors

Global AC/DC motor exports fell notably to 522M units in 2022, with a decrease of -22.4% compared with the year before. Over the period under review, exports, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 97% against the previous year. The global exports peaked at 673M units in 2021, and then reduced dramatically in the following year.

In value terms, AC/DC motor exports totaled $35.2B in 2022. The total export value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports By Country

China prevails in exports structure, recording 359M units, which was approx. 69% of total exports in 2022. The following exporters - Mexico (23M units), Italy (21M units), Germany (14M units), Taiwan (Chinese) (8.9M units) and the United States (8.3M units) - together made up 14% of total exports.

Exports from China increased at an average annual rate of +2.0% from 2012 to 2022. At the same time, Taiwan (Chinese) (+12.7%), Germany (+5.4%) and the United States (+1.4%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.7% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, Mexico (-1.4%) illustrated a downward trend over the same period. China (+6.1 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest AC/DC motor supplying countries worldwide were China ($8B), Germany ($5.4B) and the United States ($2.3B), with a combined 44% share of global exports.

China, with a CAGR of +5.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Electric motors; AC motors, single-phase dominates exports structure, accounting for 409M units, which was near 79% of total exports in 2022. Electric motors (39M units) ranks second in terms of the total exports with a 7.6% share, followed by electric motors (7.5%) and electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW (5%).

Exports of electric motors; AC motors, single-phase increased at an average annual rate of +1.6% from 2012 to 2022. At the same time, electric motors (+5.0%) and electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW (+3.9%) displayed positive paces of growth. Moreover, electric motors emerged as the fastest-growing type exported in the world, with a CAGR of +5.0% from 2012-2022. By contrast, electric motors (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of electric motors; AC motors, single-phase and electric motors increased by +5.2 and +2.4 percentage points, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW ($10.8B), electric motors; AC motors, multi-phase, of an output exceeding 75kW ($6.7B) and electric motors; AC motors, single-phase ($6.5B) appeared to be the products with the highest levels of exports in 2022, with a combined 69% share of global exports. Electric motors, electric generators, generators, electric generators, electric motors and electric generators lagged somewhat behind, together comprising a further 31%.

Among the main exported products, electric motors, with a CAGR of +6.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

The average AC/DC motor export price stood at $67 per unit in 2022, jumping by 38% against the previous year. In general, the export price continues to indicate modest growth. The most prominent rate of growth was recorded in 2015 an increase of 69% against the previous year. The global export price peaked at $111 per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was electric generators ($22,267 per unit), while the average price for exports of electric motors; AC motors, single-phase ($16 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by electric motors; universal AC/DC of an output exceeding 37.5W (+4.8%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average AC/DC motor export price stood at $67 per unit in 2022, growing by 38% against the previous year. Over the period under review, the export price showed mild growth. The pace of growth was the most pronounced in 2015 when the average export price increased by 69% against the previous year. The global export price peaked at $111 per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($397 per unit), while China ($22 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform