Global AC/DC Motors Market Set to Reach 939M Units and $75.4B by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: World - Universal Ac/Dc Motors Of An Output Exceeding 37.5 W; Other Ac Motors; Ac Generators (Alternators) - Market Analysis, Forecast, Size, Trends and Insights.

Driven by increasing global demand, the AC/DC motors market is forecasted to grow at a CAGR of +1.5% in volume and +2.1% in value from 2024 to 2035. This upward trend is projected to result in a substantial increase in market volume and value by the end of 2035.

Driven by increasing demand for AC/DC motors worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 939M units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $75.4B (in nominal wholesale prices) by the end of 2035.

In 2024, after two years of decline, there was significant growth in consumption of AC/DC motors, when its volume increased by 10% to 801M units. The total consumption volume increased at an average annual rate of +1.7% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption reached the peak volume of 856M units. From 2022 to 2024, the growth of the global consumption failed to regain momentum.

The global AC/DC motor market revenue expanded notably to $59.7B in 2024, with an increase of 9.5% 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). In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $67B. From 2022 to 2024, the growth of the global market remained at a somewhat lower figure.

The countries with the highest volumes of consumption in 2024 were China (148M units), Brazil (76M units) and the United States (66M units), together comprising 36% of global consumption. India, Thailand, Italy, Mexico, Turkey, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 28%.

From 2013 to 2024, the biggest increases were recorded for India (with a CAGR of +7.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest AC/DC motor markets worldwide were the United States ($5.8B), Italy ($5B) and China ($3.3B), together comprising 24% of the global market. India, Turkey, Brazil, Mexico, Indonesia, Thailand and Malaysia lagged somewhat behind, together accounting for a further 8%.

Turkey, with a CAGR of +5.9%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of AC/DC motor per capita consumption in 2024 were Italy (641 units per 1000 persons), Thailand (634 units per 1000 persons) and Malaysia (603 units per 1000 persons).

From 2013 to 2024, the biggest increases were recorded for India (with a CAGR of +6.2%), while consumption for the other global leaders experienced more modest paces of growth.

In 2024, the amount of AC/DC motors produced worldwide fell notably to 883M units, with a decrease of -45.1% against the previous year's figure. Overall, production, however, saw tangible growth. The most prominent rate of growth was recorded in 2023 when the production volume increased by 118%. As a result, production reached the peak volume of 1.6B units, and then shrank markedly in the following year.

In value terms, AC/DC motor production rose remarkably to $65B in 2024 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Global production peaked at $73.1B in 2021; however, from 2022 to 2024, production failed to regain momentum.

The country with the largest volume of AC/DC motor production was China (639M units), accounting for 72% of total volume. Moreover, AC/DC motor production in China exceeded the figures recorded by the second-largest producer, Italy (38M units), more than tenfold. Japan (23M units) ranked third in terms of total production with a 2.6% share.

From 2013 to 2024, the average annual growth rate of volume in China stood at +4.3%. In the other countries, the average annual rates were as follows: Italy (-1.1% per year) and Japan (-1.6% per year).

In 2024, after two years of decline, there was significant growth in supplies from abroad of AC/DC motors, when their volume increased by 8.6% to 565M units. The total import volume increased at an average annual rate of +1.7% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. As a result, imports reached the peak of 641M units. From 2022 to 2024, the growth of global imports remained at a lower figure.

In value terms, AC/DC motor imports contracted to $36.4B in 2024. In general, total imports indicated a moderate increase from 2013 to 2024: its value increased at an average annual rate of +2.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +35.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 20%. Global imports peaked at $37.3B in 2023, and then fell slightly in the following year.

The countries with the highest levels of AC/DC motor imports in 2024 were the United States (74M units), Brazil (57M units), Thailand (50M units), India (48M units) and Mexico (43M units), together resulting at 48% of total import. Turkey (25M units), Vietnam (25M units), Malaysia (24M units), Italy (13M units) and Poland (12M units) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Vietnam (with a CAGR of +15.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($7.5B) constitutes the largest market for imported AC/DC motors worldwide, comprising 21% of global imports. The second position in the ranking was held by Mexico ($1.3B), with a 3.4% share of global imports. It was followed by Italy, with a 3.3% share.

From 2013 to 2024, the average annual growth rate of value in the United States stood at +4.2%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+6.1% per year) and Italy (+1.4% per year).

In 2024, electric motors; AC motors, single-phase (349M units) was the major type of AC/DC motors, mixing up 60% of total imports. Electric motors (118M units) took the second position in the ranking, followed by electric motors (79M units) and electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW (30M units). All these products together held approx. 39% share of total imports.

Imports of electric motors; AC motors, single-phase increased at an average annual rate of +2.5% from 2013 to 2024. At the same time, electric motors (+4.7%) and electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW (+2.5%) displayed positive paces of growth. Moreover, electric motors emerged as the fastest-growing type imported in the world, with a CAGR of +4.7% from 2013-2024. Electric motors experienced a relatively flat trend pattern. Electric motors (+3.2 p.p.) and electric motors; AC motors, single-phase (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while electric motors saw its share reduced by -5.7% from 2013 to 2024, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of imported AC/DC motors were electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW ($9.5B), electric motors; AC motors, multi-phase, of an output exceeding 75kW ($8.7B) and electric motors; AC motors, single-phase ($5.4B), with a combined 65% share of global imports. Electric motors, electric generators, electric generators, electric motors, generators and electric generators lagged somewhat behind, together comprising a further 35%.

In terms of the main imported products, electric generators, with a CAGR of +13.6%, 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.

The average AC/DC motor import price stood at $64 per unit in 2024, which is down by -10.1% against the previous year. Over the period under review, the import price, however, recorded mild growth. The most prominent rate of growth was recorded in 2022 an increase of 26% against the previous year. Global import price peaked at $72 per unit in 2023, and then reduced in the following year.

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

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by electric generators; AC generators, (alternators), of an output exceeding 75kVA but not exceeding 375kVA (+6.7%), while the other products experienced more modest paces of growth.

In 2024, the average AC/DC motor import price amounted to $64 per unit, falling by -10.1% against the previous year. In general, the import price, however, continues to indicate a modest increase. The pace of growth was the most pronounced in 2022 when the average import price increased by 26%. Global import price peaked at $72 per unit in 2023, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($102 per unit), while Brazil ($8.5 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+5.1%), while the other global leaders experienced more modest paces of growth.

In 2024, the amount of AC/DC motors exported worldwide reduced rapidly to 647M units, dropping by -53.9% compared with 2023. In general, exports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2023 with an increase of 167% against the previous year. As a result, the exports reached the peak of 1.4B units, and then dropped significantly in the following year.

In value terms, AC/DC motor exports expanded to $39B in 2024. Overall, total exports indicated a pronounced increase from 2013 to 2024: its value increased at an average annual rate of +3.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +44.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 22% against the previous year. The global exports peaked in 2024 and are likely to continue growth in the immediate term.

China dominates exports structure, accounting for 500M units, which was approx. 77% of total exports in 2024. The following exporters - Mexico (20M units), Italy (14M units), Vietnam (13M units) and Germany (11M units) - together made up 9% of total exports.

Exports from China increased at an average annual rate of +4.1% from 2013 to 2024. At the same time, Vietnam (+21.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +21.9% from 2013-2024. Germany experienced a relatively flat trend pattern. By contrast, Mexico (-1.9%) and Italy (-3.8%) illustrated a downward trend over the same period. China (+13 p.p.) and Vietnam (+1.7 p.p.) significantly strengthened its position in terms of the global exports, while Mexico and Italy saw its share reduced by -1.9% and -2.1% from 2013 to 2024, respectively. 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 ($7.5B), Germany ($5.4B) and Mexico ($2.2B), with a combined 38% share of global exports. Italy and Vietnam lagged somewhat behind, together accounting for a further 5.6%.

In terms of the main exporting countries, Vietnam, with a CAGR of +11.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Electric motors; AC motors, single-phase dominates exports structure, accounting for 518M units, which was near 80% of total exports in 2024. Electric motors (52M units) held an 8.1% share (based on physical terms) of total exports, which put it in second place, followed by electric motors (7.6%). Electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW (22M units) held a relatively small share of total exports.

From 2013 to 2024, average annual rates of growth with regard to electric motors; AC motors, single-phase exports of stood at +3.0%. At the same time, electric motors (+4.6%) displayed positive paces of growth. Moreover, electric motors emerged as the fastest-growing type exported in the world, with a CAGR of +4.6% from 2013-2024. Electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW experienced a relatively flat trend pattern. By contrast, electric motors (-2.5%) illustrated a downward trend over the same period. Electric motors; AC motors, single-phase (+4.9 p.p.) and electric motors (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while electric motors saw its share reduced by -5.8% from 2013 to 2024, 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 75kW ($10.6B), electric motors; AC motors, multi-phase, of an output exceeding 750W but not exceeding 75kW ($9.4B) and electric motors; AC motors, single-phase ($6B) constituted the products with the highest levels of exports in 2024, together accounting for 67% of global exports. Electric motors, electric generators, electric generators, generators, electric motors and electric generators lagged somewhat behind, together comprising a further 33%.

In terms of the main exported products, electric generators, with a CAGR of +9.4%, 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.

In 2024, the average AC/DC motor export price amounted to $60 per unit, rising by 126% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $117 per unit in 2017; however, from 2018 to 2024, the export prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was electric generators ($21 thousand per unit), while the average price for exports of electric motors; AC motors, single-phase ($12 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by electric generators; AC generators, (alternators), of an output exceeding 75kVA but not exceeding 375kVA (+5.8%), while the other products experienced more modest paces of growth.

In 2024, the average AC/DC motor export price amounted to $60 per unit, picking up by 126% against the previous year. In general, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $117 per unit in 2017; however, from 2018 to 2024, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($476 per unit), while China ($15 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mexico (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global ac/dc motor market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

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