AC Electric Motor Market

AC Electric Motor Market Size and Share Forecast Outlook (2024 to 2034)

The sales of AC electric motors in the oil and gas industry are projected to be valued at USD 11.3 billion by the end of 2024 and are expected to rise to USD 18.6 billion by 2034. The global AC electric motor market is expected to grow at a CAGR of 5.10% during the forecast period.

Key Market Drivers:

The AC electric motor market in the global oil and gas industry generated an estimated revenue of USD 8.2 billion in 2019. In the span of four years, the market grew at a pace of 6.80% CAGR and added a staggering revenue of USD 3.1 billion. Several reasons can be attributed to this growth:

• Rising demand for energy-efficient and sustainable solutions in oil and gas extraction to enhance environmental performance and operational efficiency
• Increasing reliance on AC electric motors of exploration and production companies in the oil and gas industry due to their enhanced performance, reliability, and energy efficiency
• Increasing awareness of environmental concerns, forcing stakeholders in the industry to adopt cleaner and greener solutions
• Surging demand within the oil and gas industry due to the shift toward modernization and technological upgradation
• The push for operational cost reduction amidst the evolving economic landscape, driving the adoption of cost-effective oil and gas solutions
• Integration of smart technologies with AC electric motors, making them well-suited for demanding applications in drilling, pumping, and other critical processes
• Advancements in AC motor technology, such as variable frequency drives (VFDs), are offering greater control and efficiency in oil and gas applications
• Government incentives and regulations promoting energy-efficient solutions in the oil and gas industry to reduce carbon emissions and enhance sustainability

Attributes	Key Statistics
Expected Base Year Value (2024)	USD 11.3 billion
Anticipated Forecast Value (2034)	USD 18.6 billion
Estimated Growth (2024 to 2034)	5.10% CAGR

Consumption Trends of AC Electric Motors in the Oil and Gas Sector

• Demand from exploration and drilling companies to power drilling rigs makes them a significant consumer pool in the AC electric motor market.
• Sales of AC electric motors see a new high in the extraction and production facilities to transport oil and gas through compressors, pumping systems, and other equipment.
• Refinery is yet another key consumer of AC electric motors in the oil and gas industry. Demand rises to power critical equipment and ensure efficient fluid flow, pressurization, and ventilation throughout the refining processes.
• Adoption of AC electric motors in petrochemical plants is anticipated to rise to facilitate the blending, agitation, and transfer of various chemical components.
• On a significantly smaller scale, midstream facilities also generate demand for AC electric motors in compressors and pumping stations to transport oil and gas from production sites to refineries or distribution points.

Sales Analysis of AC Electric Motors in Oil and Gas (Historical vs Forecast)

Demand for AC electric motors in the oil and gas industry heavily relies on a multitude of factors, such as the overall demand for oil and gas products in the international marketplace, capital investments in exploration and production projects, innovations and advancements in motor technology, etc. These factors decide the fate of the overall performance of AC electric motors in the oil and gas industry.

In the past few years, the market for AC electric motors has seen a series of ups and downs. During the pandemic, the oil and gas industry faced significant challenges due to a decline in global energy demand, travel restrictions, and economic uncertainties.

This negatively affected the global market revenue for AC electric motors as the pandemic led to a decrease in oil prices, causing companies to reassess their capital expenditures and delay or scale back projects.

However, as the world got accustomed to the new normal, things gradually began to pace up. As economies recovered, the oil and gas industry rebounded, positively impacting the AC electric motor market. Stakeholders across the world started investing heavily in their equipment, thus amplifying the growth of AC electric motors in the global oil and gas industry.

Attributes	Key Statistics
Base Year Value (2019)	USD 8.2 million
Forecast Value (2023)	USD 10.6 billion
Estimated Growth (2019 to 2023)	6.80% CAGR

Key Restraints Impacting the AC Electric Motor Market

The AC electric motor market is anticipated to surpass a global valuation of USD 18.6 billion by the year 2034, with a growth rate of 5.10% CAGR. While the market is expected to experience substantial growth, several restraining factors could adversely affect its development:

• The growth of alternative energy storage technologies, such as batteries, for certain applications may pose a challenge to the AC electric motor market, particularly in areas where energy efficiency and environmental impact are critical considerations.
• The initial costs associated with implementing AC electric motors, especially advanced and energy-efficient models, act as a deterrent for some end users.
• Competition from DC motors, particularly in specific applications that offer advantages, such as energy-efficient operations, precise speed control, and applications with variable torque requirements.

AC Electric Motor Industry Analysis by Top Investment Segments

Induction Motors to Gain Popularity in the Oil and Gas Industry

Based on the type, induction motors dominate the global market with a CAGR of 4.0%. This rising preference is attributed to:

• The robust design of these motors, making them well-suited for the demanding and harsh operating conditions commonly found in the oil and gas industry.
• The reliability of induction motors, even in extreme temperatures, corrosive atmospheres, and potentially explosive environments
• The capability of induction motors to operate efficiently across a range of speeds, especially when paired with variable frequency drives (VFDs),
• Ongoing advancements in induction motor technology, including improvements in energy efficiency and the incorporation of energy-saving features
• The ability of induction motors to deliver high torque at low speeds in applications such as pumping and drilling

Attributes	Details
Type	Induction Motors
CAGR	4.0%

AC Electric Motors, less than 1kV, dominates the Oil and Gas Industry Worldwide

On the basis of voltage, electric motors less than 1kV dominate the global market with a CAGR of 3.8%. This is primarily due to:

• Widespread applicability of these motors, making them integral components in various operations within the oil and gas industry
• Commonality of these motors, ensuring compatibility with existing infrastructure and power systems
• Easy availability of these motors and a diverse range of options and specifications, making them easily accessible for various applications across different industries.
• The versatility of electric motors less than 1kV, making them suitable for a wide range of applications within the oil and gas industry, such as powering pumps, compressors, driving fans, conveyors, etc.

Attributes	Details
Voltage	Less than 1kV
CAGR	0%

Analysis of Top Countries Manufacturing and Operating AC Electric Motors

The section provides an analysis of the AC electric motors market by country, including South Korea, China, the United States, the United Kingdom, and Japan. The table presents the CAGR for each country, indicating the expected growth of the market in that country through 2034.

Countries	CAGR
South Korea	7.40%
The United Kingdom	6.50%
China	6.00%
The United States	5.50%
Japan	3.70%

AC Electric Motor Market in South Korea

South Korea is one of the leading countries in this market. The Korean AC electric motor market is anticipated to retain its dominance by progressing at an annual growth rate of 7.40% till 2034.

South Korea is one of the most advanced countries when it comes to technological advancements in the manufacturing and engineering sectors. The government in this country has been actively promoting these advancements by providing funds and subsidies to the stakeholders in the market. This has pushed the demand for AC electric motors in various industries, especially the oil and gas industry.

AC Electric Motor Market in the United Kingdom

The United Kingdom leads the AC electric motor market in the European region. The market in the UK is anticipated to retain its dominance by progressing at an annual growth rate of 6.50% till 2034.

The United Kingdom is blessed with significant oil and gas reserves in the North Sea. This generates exponential demand for exploration, production, and related services in the country. Besides this, the United Kingdom is also pushing toward sustainability in all its industries, including the oil and gas industry. This has driven the demand for AC electric motors in the United Kingdom.

AC electric motor Market in China

In the Asian region, China is another country that dominates the AC electric motor market. The Chinese AC electric motor market is anticipated to exhibit an annual growth rate of 6.00% till 2034.

In the last few years, the Chinese economy has grown massively. This has led to an increasing demand for oil and gas in the country. This growth is also another reason for the government’s investment in the oil and gas sector to secure a stable energy supply. AC electric motors, being one of the crucial components in these operations, are, thus, in great demand in China. Also,

AC Electric Motor Market in the United States

In the North American region, the United States leads the AC electric motor market. The United States AC electric motor market is anticipated to register a CAGR of 5.50% through 2034.

The shale gas revolution in the United States has transformed the country into a major player in the global oil and gas market, with increased production and exports contributing to market growth. This is one of the main reasons why the United States is one of the leading countries in this market.

AC Electric Motor Market in Japan

Japan is another Asian country leading in the AC electric motor market. Over the next ten years, Japanese demand for AC electric motors is projected to rise at a 3.70% CAGR.

Japan is a major importer of Liquefied Natural Gas, and the country's continued focus on expanding its LNG infrastructure and investments in related projects contributes to the growth of AC electric motors as they play a crucial role in supporting various aspects of LNG infrastructure.

Competitive Landscape of the AC Electric Motor Market

The global AC electric motors market is highly concentrated, with prominent players such as Siemens, General Electric, WEG, Emerson Electric, Nidec, Regal Beloit, Marathon Electric, Kirloskar Electric Company Limited, etc. Key companies in the market are investing heavily in research and development to introduce innovative technologies and improvements in electric motors.

They are also expanding the range of electric motors and related products, allowing companies to cater to a broader spectrum of applications within the oil and gas sector.

Recent Developments:

• ABB launched the AMI 5800 NEMA modular induction motor in June 2023, offering exceptional energy efficiency and reliability in demanding applications such as pumps, compressors, and crushers. With a power output of up to 1750 HP, it provides modularity for projects in various industries, including oil, gas, and chemicals.
• In July 2019, Ward Leonard, a USA manufacturer of electric motors and generators, introduced the WL29BC200 AC induction motor tailored for mud pumps and draw works in oil and gas applications. The 2,000 HP motor is designed to fit into a 1,500 HP motor package, offering compactness and increased power density.

Leading Companies in the Global AC Electric Motor Industry

• ABB
• Siemens
• General Electric
• Schneider Electric
• WEG
• Emerson Electric
• Nidec
• Regal Beloit
• TECO Electric & Machinery
• Marathon Electric
• Toshiba Corporation
• Franklin Electric Co.
• Yaskawa Electric Corporation
• Baldor Electric Company
• Johnson Electric Holdings Limited
• Kirloskar Electric Company Limited
• Hyundai Electric & Energy Systems
• Brook Crompton UK Ltd.
• CG Power and Industrial Solutions Ltd.
• Leroy-Somer

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
  • 5.1. Induction Motor
  • 5.2. Synchronous Motor
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Voltage
  • 6.1. Less than 1kV
  • 6.2. Between 1 kV and 6.6 kV
  • 6.3. Greater than 6.6 kV
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Output Power
  • 7.1. Less than 1 HP
  • 7.2. Greater than 1 HP
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. ABB Ltd.
  • 18.2. Arc Systems Inc.
  • 18.3. Franklin Electric Co. Inc.
  • 18.4. General Electric Co.
  • 18.5. Hitachi Ltd.
  • 18.6. Hoyer Motors
  • 18.7. Nidec Corp.
  • 18.8. NOV Inc.
  • 18.9. Parker Hannifin Corp.
  • 18.10. Regal Rexnord Corp.
  • 18.11. Rockwell Automation Inc.
  • 18.12. Schlumberger Ltd.
  • 18.13. Siemens AG
  • 18.14. TECO-Westinghouse
  • 18.15. Toshiba Corp.
• 19. Assumptions & Acronyms Used
• 20. Research Methodology

List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034

Table 2: Global Market Volume (Units) Forecast by Region, 2019 to 2034

Table 3: Global Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 4: Global Market Volume (Units) Forecast by Type, 2019 to 2034

Table 5: Global Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 6: Global Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 7: Global Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 8: Global Market Volume (Units) Forecast by Output Power, 2019 to 2034

Table 9: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 10: North America Market Volume (Units) Forecast by Country, 2019 to 2034

Table 11: North America Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 12: North America Market Volume (Units) Forecast by Type, 2019 to 2034

Table 13: North America Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 14: North America Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 15: North America Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 16: North America Market Volume (Units) Forecast by Output Power, 2019 to 2034

Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 18: Latin America Market Volume (Units) Forecast by Country, 2019 to 2034

Table 19: Latin America Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 20: Latin America Market Volume (Units) Forecast by Type, 2019 to 2034

Table 21: Latin America Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 22: Latin America Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 23: Latin America Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 24: Latin America Market Volume (Units) Forecast by Output Power, 2019 to 2034

Table 25: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 26: Western Europe Market Volume (Units) Forecast by Country, 2019 to 2034

Table 27: Western Europe Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 28: Western Europe Market Volume (Units) Forecast by Type, 2019 to 2034

Table 29: Western Europe Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 30: Western Europe Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 31: Western Europe Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 32: Western Europe Market Volume (Units) Forecast by Output Power, 2019 to 2034

Table 33: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 34: Eastern Europe Market Volume (Units) Forecast by Country, 2019 to 2034

Table 35: Eastern Europe Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 36: Eastern Europe Market Volume (Units) Forecast by Type, 2019 to 2034

Table 37: Eastern Europe Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 38: Eastern Europe Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 39: Eastern Europe Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 40: Eastern Europe Market Volume (Units) Forecast by Output Power, 2019 to 2034

Table 41: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 42: South Asia and Pacific Market Volume (Units) Forecast by Country, 2019 to 2034

Table 43: South Asia and Pacific Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 44: South Asia and Pacific Market Volume (Units) Forecast by Type, 2019 to 2034

Table 45: South Asia and Pacific Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 46: South Asia and Pacific Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 47: South Asia and Pacific Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 48: South Asia and Pacific Market Volume (Units) Forecast by Output Power, 2019 to 2034

Table 49: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 50: East Asia Market Volume (Units) Forecast by Country, 2019 to 2034

Table 51: East Asia Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 52: East Asia Market Volume (Units) Forecast by Type, 2019 to 2034

Table 53: East Asia Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 54: East Asia Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 55: East Asia Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 56: East Asia Market Volume (Units) Forecast by Output Power, 2019 to 2034

Table 57: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034

Table 58: Middle East and Africa Market Volume (Units) Forecast by Country, 2019 to 2034

Table 59: Middle East and Africa Market Value (US$ Million) Forecast by Type, 2019 to 2034

Table 60: Middle East and Africa Market Volume (Units) Forecast by Type, 2019 to 2034

Table 61: Middle East and Africa Market Value (US$ Million) Forecast by Voltage, 2019 to 2034

Table 62: Middle East and Africa Market Volume (Units) Forecast by Voltage, 2019 to 2034

Table 63: Middle East and Africa Market Value (US$ Million) Forecast by Output Power, 2019 to 2034

Table 64: Middle East and Africa Market Volume (Units) Forecast by Output Power, 2019 to 2034

List of Figures

Figure 1: Global Market Value (US$ Million) by Type, 2024 to 2034

Figure 2: Global Market Value (US$ Million) by Voltage, 2024 to 2034

Figure 3: Global Market Value (US$ Million) by Output Power, 2024 to 2034

Figure 4: Global Market Value (US$ Million) by Region, 2024 to 2034

Figure 5: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034

Figure 6: Global Market Volume (Units) Analysis by Region, 2019 to 2034

Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034

Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034

Figure 9: Global Market Value (US$ Million) Analysis by Type, 2019 to 2034

Figure 10: Global Market Volume (Units) Analysis by Type, 2019 to 2034

Figure 11: Global Market Value Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 12: Global Market Y-o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 13: Global Market Value (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 14: Global Market Volume (Units) Analysis by Voltage, 2019 to 2034

Figure 15: Global Market Value Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 16: Global Market Y-o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 17: Global Market Value (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 18: Global Market Volume (Units) Analysis by Output Power, 2019 to 2034

Figure 19: Global Market Value Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 20: Global Market Y-o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 21: Global Market Attractiveness by Type, 2024 to 2034

Figure 22: Global Market Attractiveness by Voltage, 2024 to 2034

Figure 23: Global Market Attractiveness by Output Power, 2024 to 2034

Figure 24: Global Market Attractiveness by Region, 2024 to 2034

Figure 25: North America Market alue (US$ Million) by Type, 2024 to 2034

Figure 26: North America Market alue (US$ Million) by Voltage, 2024 to 2034

Figure 27: North America Market alue (US$ Million) by Output Power, 2024 to 2034

Figure 28: North America Market alue (US$ Million) by Country, 2024 to 2034

Figure 29: North America Market alue (US$ Million) Analysis by Country, 2019 to 2034

Figure 30: North America Market olume (Units) Analysis by Country, 2019 to 2034

Figure 31: North America Market alue Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 32: North America Market -o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 33: North America Market alue (US$ Million) Analysis by Type, 2019 to 2034

Figure 34: North America Market olume (Units) Analysis by Type, 2019 to 2034

Figure 35: North America Market alue Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 36: North America Market -o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 37: North America Market alue (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 38: North America Market olume (Units) Analysis by Voltage, 2019 to 2034

Figure 39: North America Market alue Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 40: North America Market -o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 41: North America Market alue (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 42: North America Market olume (Units) Analysis by Output Power, 2019 to 2034

Figure 43: North America Market alue Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 44: North America Market -o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 45: North America Market ttractiveness by Type, 2024 to 2034

Figure 46: North America Market ttractiveness by Voltage, 2024 to 2034

Figure 47: North America Market ttractiveness by Output Power, 2024 to 2034

Figure 48: North America Market ttractiveness by Country, 2024 to 2034

Figure 49: Latin America Market alue (US$ Million) by Type, 2024 to 2034

Figure 50: Latin America Market alue (US$ Million) by Voltage, 2024 to 2034

Figure 51: Latin America Market alue (US$ Million) by Output Power, 2024 to 2034

Figure 52: Latin America Market alue (US$ Million) by Country, 2024 to 2034

Figure 53: Latin America Market alue (US$ Million) Analysis by Country, 2019 to 2034

Figure 54: Latin America Market olume (Units) Analysis by Country, 2019 to 2034

Figure 55: Latin America Market alue Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 56: Latin America Market -o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 57: Latin America Market alue (US$ Million) Analysis by Type, 2019 to 2034

Figure 58: Latin America Market olume (Units) Analysis by Type, 2019 to 2034

Figure 59: Latin America Market alue Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 60: Latin America Market -o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 61: Latin America Market alue (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 62: Latin America Market olume (Units) Analysis by Voltage, 2019 to 2034

Figure 63: Latin America Market alue Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 64: Latin America Market -o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 65: Latin America Market alue (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 66: Latin America Market olume (Units) Analysis by Output Power, 2019 to 2034

Figure 67: Latin America Market alue Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 68: Latin America Market -o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 69: Latin America Market ttractiveness by Type, 2024 to 2034

Figure 70: Latin America Market ttractiveness by Voltage, 2024 to 2034

Figure 71: Latin America Market ttractiveness by Output Power, 2024 to 2034

Figure 72: Latin America Market ttractiveness by Country, 2024 to 2034

Figure 73: Western Europe Market Value (US$ Million) by Type, 2024 to 2034

Figure 74: Western Europe Market Value (US$ Million) by Voltage, 2024 to 2034

Figure 75: Western Europe Market Value (US$ Million) by Output Power, 2024 to 2034

Figure 76: Western Europe Market Value (US$ Million) by Country, 2024 to 2034

Figure 77: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 78: Western Europe Market Volume (Units) Analysis by Country, 2019 to 2034

Figure 79: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 80: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 81: Western Europe Market Value (US$ Million) Analysis by Type, 2019 to 2034

Figure 82: Western Europe Market Volume (Units) Analysis by Type, 2019 to 2034

Figure 83: Western Europe Market Value Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 84: Western Europe Market Y-o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 85: Western Europe Market Value (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 86: Western Europe Market Volume (Units) Analysis by Voltage, 2019 to 2034

Figure 87: Western Europe Market Value Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 88: Western Europe Market Y-o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 89: Western Europe Market Value (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 90: Western Europe Market Volume (Units) Analysis by Output Power, 2019 to 2034

Figure 91: Western Europe Market Value Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 92: Western Europe Market Y-o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 93: Western Europe Market Attractiveness by Type, 2024 to 2034

Figure 94: Western Europe Market Attractiveness by Voltage, 2024 to 2034

Figure 95: Western Europe Market Attractiveness by Output Power, 2024 to 2034

Figure 96: Western Europe Market Attractiveness by Country, 2024 to 2034

Figure 97: Eastern Europe Market Value (US$ Million) by Type, 2024 to 2034

Figure 98: Eastern Europe Market Value (US$ Million) by Voltage, 2024 to 2034

Figure 99: Eastern Europe Market Value (US$ Million) by Output Power, 2024 to 2034

Figure 100: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034

Figure 101: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 102: Eastern Europe Market Volume (Units) Analysis by Country, 2019 to 2034

Figure 103: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 104: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 105: Eastern Europe Market Value (US$ Million) Analysis by Type, 2019 to 2034

Figure 106: Eastern Europe Market Volume (Units) Analysis by Type, 2019 to 2034

Figure 107: Eastern Europe Market Value Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 108: Eastern Europe Market Y-o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 109: Eastern Europe Market Value (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 110: Eastern Europe Market Volume (Units) Analysis by Voltage, 2019 to 2034

Figure 111: Eastern Europe Market Value Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 112: Eastern Europe Market Y-o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 113: Eastern Europe Market Value (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 114: Eastern Europe Market Volume (Units) Analysis by Output Power, 2019 to 2034

Figure 115: Eastern Europe Market Value Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 116: Eastern Europe Market Y-o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 117: Eastern Europe Market Attractiveness by Type, 2024 to 2034

Figure 118: Eastern Europe Market Attractiveness by Voltage, 2024 to 2034

Figure 119: Eastern Europe Market Attractiveness by Output Power, 2024 to 2034

Figure 120: Eastern Europe Market Attractiveness by Country, 2024 to 2034

Figure 121: South Asia and Pacific Market Value (US$ Million) by Type, 2024 to 2034

Figure 122: South Asia and Pacific Market Value (US$ Million) by Voltage, 2024 to 2034

Figure 123: South Asia and Pacific Market Value (US$ Million) by Output Power, 2024 to 2034

Figure 124: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034

Figure 125: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 126: South Asia and Pacific Market Volume (Units) Analysis by Country, 2019 to 2034

Figure 127: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 128: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 129: South Asia and Pacific Market Value (US$ Million) Analysis by Type, 2019 to 2034

Figure 130: South Asia and Pacific Market Volume (Units) Analysis by Type, 2019 to 2034

Figure 131: South Asia and Pacific Market Value Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 132: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 133: South Asia and Pacific Market Value (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 134: South Asia and Pacific Market Volume (Units) Analysis by Voltage, 2019 to 2034

Figure 135: South Asia and Pacific Market Value Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 136: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 137: South Asia and Pacific Market Value (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 138: South Asia and Pacific Market Volume (Units) Analysis by Output Power, 2019 to 2034

Figure 139: South Asia and Pacific Market Value Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 140: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 141: South Asia and Pacific Market Attractiveness by Type, 2024 to 2034

Figure 142: South Asia and Pacific Market Attractiveness by Voltage, 2024 to 2034

Figure 143: South Asia and Pacific Market Attractiveness by Output Power, 2024 to 2034

Figure 144: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034

Figure 145: East Asia Market Value (US$ Million) by Type, 2024 to 2034

Figure 146: East Asia Market Value (US$ Million) by Voltage, 2024 to 2034

Figure 147: East Asia Market Value (US$ Million) by Output Power, 2024 to 2034

Figure 148: East Asia Market Value (US$ Million) by Country, 2024 to 2034

Figure 149: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 150: East Asia Market Volume (Units) Analysis by Country, 2019 to 2034

Figure 151: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 152: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 153: East Asia Market Value (US$ Million) Analysis by Type, 2019 to 2034

Figure 154: East Asia Market Volume (Units) Analysis by Type, 2019 to 2034

Figure 155: East Asia Market Value Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 156: East Asia Market Y-o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 157: East Asia Market Value (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 158: East Asia Market Volume (Units) Analysis by Voltage, 2019 to 2034

Figure 159: East Asia Market Value Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 160: East Asia Market Y-o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 161: East Asia Market Value (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 162: East Asia Market Volume (Units) Analysis by Output Power, 2019 to 2034

Figure 163: East Asia Market Value Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 164: East Asia Market Y-o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 165: East Asia Market Attractiveness by Type, 2024 to 2034

Figure 166: East Asia Market Attractiveness by Voltage, 2024 to 2034

Figure 167: East Asia Market Attractiveness by Output Power, 2024 to 2034

Figure 168: East Asia Market Attractiveness by Country, 2024 to 2034

Figure 169: Middle East and Africa Market Value (US$ Million) by Type, 2024 to 2034

Figure 170: Middle East and Africa Market Value (US$ Million) by Voltage, 2024 to 2034

Figure 171: Middle East and Africa Market Value (US$ Million) by Output Power, 2024 to 2034

Figure 172: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034

Figure 173: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034

Figure 174: Middle East and Africa Market Volume (Units) Analysis by Country, 2019 to 2034

Figure 175: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034

Figure 176: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034

Figure 177: Middle East and Africa Market Value (US$ Million) Analysis by Type, 2019 to 2034

Figure 178: Middle East and Africa Market Volume (Units) Analysis by Type, 2019 to 2034

Figure 179: Middle East and Africa Market Value Share (%) and BPS Analysis by Type, 2024 to 2034

Figure 180: Middle East and Africa Market Y-o-Y Growth (%) Projections by Type, 2024 to 2034

Figure 181: Middle East and Africa Market Value (US$ Million) Analysis by Voltage, 2019 to 2034

Figure 182: Middle East and Africa Market Volume (Units) Analysis by Voltage, 2019 to 2034

Figure 183: Middle East and Africa Market Value Share (%) and BPS Analysis by Voltage, 2024 to 2034

Figure 184: Middle East and Africa Market Y-o-Y Growth (%) Projections by Voltage, 2024 to 2034

Figure 185: Middle East and Africa Market Value (US$ Million) Analysis by Output Power, 2019 to 2034

Figure 186: Middle East and Africa Market Volume (Units) Analysis by Output Power, 2019 to 2034

Figure 187: Middle East and Africa Market Value Share (%) and BPS Analysis by Output Power, 2024 to 2034

Figure 188: Middle East and Africa Market Y-o-Y Growth (%) Projections by Output Power, 2024 to 2034

Figure 189: Middle East and Africa Market Attractiveness by Type, 2024 to 2034

Figure 190: Middle East and Africa Market Attractiveness by Voltage, 2024 to 2034

Figure 191: Middle East and Africa Market Attractiveness by Output Power, 2024 to 2034

Figure 192: Middle East and Africa Market Attractiveness by Country, 2024 to 2034