AC Electric Motor Sales in Oil & Gas Market worth $13.2 billion by 2023

1. AC Electric Motor Sales in Oil & Gas Market Worth $13.2 Billion by 2023 According to the new market research report "AC Electric Motor Sales in Oil & Gas Market by Type (Induction & Synchronous), Voltage (< 1 KV, 1-6.6 kV, > 6.6 kV), Output Power, HP (< 1 HP, > 1 HP), Output Power, kW (0.12-7.5 kW, 7.5-110 kW, 110-1000 kW, >1000 kW) and Region - Global Forecast to 2023",published by MarketsandMarkets™, The AC Electric Motor Sales in Oil & Gas Market is expected to grow from an estimated USD 10.5 billion in 2018 to USD 13.2 billion by 2023, at a CAGR of 4.62%. Increasing use of ROVs and AUVs and new discoveries of oil & gas reserves are likely to drive the AC Electric Motor market. Browse 87 market data Tables and 38 Figures spread through 158 Pages and in-depth TOC on “AC Electric Motor Sales in Oil & Gas Market” Early buyers will receive 10% customization on reports. The induction motor segment is expected to hold the largest share of the AC electric motor market, by type, during the forecast period. The induction motor segment led the AC electric motor market in 2018 and is projected to have the largest market share during the forecast period. Due to its durability, high starting torque, speed variation, ease of operation, and low maintenance cost, these types of motors are most widely used, and in practical terms, quite suitable for nearly all types of machines. Moreover, Modernization of utilities-based infrastructure in developed countries and factors such as growing urban population and industrialization would drive the induction motor market during the forecast period Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=171501518 The 1KV-6.6KV segment of the AC Electric Motor market, by voltage type, is expected to grow at the highest CAGR during the forecast period The 1KV-6.6KV segment led the AC Electric Motor market in 2018 and is one of the fastest growing market during the forecast period. Increasing industrial sector across the globe is expected to boost the AC Electric Motor in oil & gas industry market during the forecast period. This will create a demand for AC electric motor. According to the BP Statistical Review of World Energy 2017, Asia Pacific is expected to rise from 42% in 2016 to 47% by 2035, which would be more than the combined share of North America, Europe, and Eurasia. Thus, it would boost the growth of AC Electric Motor market during the forecast period. Asia Pacific: The leading market for AC Electric Motor in Oil & Gas Industry In this report, the AC electric motor in oil & gas industry market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, South America, Europe, and the Middle East & Africa. Asia Pacific led

2. the global AC electric motor in oil & gas industry market in 2018. China and Japan are the largest markets for AC electric motor in the region. The Chinese market, being one of the strongest in the region, is expected to grow as it is one of the biggest importers of oil, and its domestic demand surpasses its production. Moreover, robust demand for industrial machinery, especially in the oil & gas industry, will encourage the manufacturer to design more efficient motors, which is expected to drive the AC Electric Motor Sales in Oil & Gas Market. Request Sample Copy @ https://www.marketsandmarkets.com/requestsample.asp?id=171501518 To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the AC Electric Motor Sales in Oil & Gas Market. The key players include ABB (Switzerland), WEG (Brazil), Schneider Electric (France), Siemens (Germany), and GE (US). The leading players are adopting various strategies to increase their shares in the AC electric motor in oil & gas industry market. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com