The Latin America, Middle East and Africa AC Electric Motor Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030).
The Brazil market dominated the LAMEA AC Electric Motor Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $400.7 Million by 2030. The Argentina market is registering a CAGR of 7.3% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 5.9% during (2023 - 2030).
Heating, ventilation, and air conditioning (HVAC) systems rely on AC motors to power fans, blowers, compressors, and pumps for air circulation, temperature control, and humidity regulation. AC motors are integral to HVAC units in residential buildings, commercial complexes, office spaces, hospitals, schools, and industrial facilities, ensuring comfortable indoor environments and energy-efficient operation.
Likewise, AC motors are employed in various agricultural machinery and equipment for irrigation, crop processing, harvesting, and livestock management. They power pumps, fans, drills, and machinery used in planting, cultivation, and harvesting operations. AC motors contribute to mechanization, efficiency, and productivity improvements in modern agricultural practices, aiding food production and farm management.
The growth of renewable energy in Brazil may drive technological advancements in AC motor design and efficiency. The renewable energy industry has continuously expanded over the years through private investment. Investments in the Brazilian electricity sector are expected to reach over $100 billion by 2029, including utility-scale generation, distributed generation, transmission, and distribution projects. As Brazil invests more in renewable energy sources such as wind and solar power, there will be an increased demand for AC electric motors to power generators, turbines, and other equipment used in these renewable energy systems. In conclusion, the growth of the renewable energy sector and increasing investment in the region’s smart cities propel the market’s growth.
Free Valuable Insights: The Worldwide AC Electric Motor Market is Projected to reach USD 22.4 Billion by 2030, at a CAGR of 4.5%
Based on Sales Type, the market is segmented into New Sales, and Aftermarket. Based on Output Power, the market is segmented into 1,000 HP up to 10,000 HP, 10,000 HP up to 20,000 HP, and 20,000 HP up to 30,000 HP. Based on End-Use, the market is segmented into Industrial Machinery, HVAC, Transportation, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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