The global AC electric motor sales in oil and gas market value reached nearly USD 13.20 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 4.70% to reach USD 20.89 Billion by 2034.
According to World Energy and Climate Statistics, in 2023, global oil production witnessed significant outputs from several key countries, reflecting their pivotal roles in the energy sector. As per the AC electric motor sales in oil and gas industry analysis, the United States led the world in oil production, producing 820 Mt. This dominant position underscores the country's advanced extraction technologies and extensive oil reserves. Saudi Arabia followed with 542 Mt, maintaining its status as a crucial player in the global oil market, primarily due to its vast reserves and strategic production capabilities.
Despite geopolitical challenges, Russia secured the third position with 535 Mt, demonstrating its substantial influence on the global energy landscape. Canada's production of 289 Mt highlights its robust oil sands industry, contributing significantly to the growth of the AC electric motor sales in oil and gas industry. Iraq produced 212 Mt, reflecting its substantial oil reserves and ongoing recovery and development efforts in its oil sector. China's production of 209 Mt underscores its efforts to boost domestic production to meet its massive energy demands.
The United Arab Emirates (UAE) produced 192 Mt, emphasizing its strategic investments in oil extraction and infrastructure. Iran and Brazil both produced 178 Mt, showcasing their extensive reserves and strategic importance in their respective regions. Kuwait's production of 138 Mt indicates its continued reliance on its vast oil reserves as a cornerstone of its economy and also contributes to the AC electric motor sales in oil and gas industry revenue. Mexico and Norway, with productions of 98 Mt and 96 Mt respectively, highlight their ongoing efforts to sustain and enhance their oil production capabilities.
According to the U.S. Energy Information Administration (EIA), the consumption of renewable energy sources is expected to reach nearly 250 quadrillion Btu by 2050. Petroleum and other liquids will continue to play a major role in the global energy mix, maintaining relatively stable consumption levels, which can aid the AC electric motor sales in oil and gas demand. Natural gas consumption is projected to reach approximately 200 quadrillion Btu by 2050.
By 2050, the global energy mix will have transformed considerably compared to 2018. Renewables' share is projected to increase from 15% to 28%, reflecting their growing importance. Petroleum and other liquids will decrease from 32% to 27%, while natural gas will maintain a steady share of around 22%.
AC Electric Motor Sales in Oil and Gas Market Growth
AC motors have significant use in the oil and gas industry. Machines such as cranes, centrifugal and reciprocating compressors, auxiliary generators, and pumps, among others, have wide applications in the industry and use AC motors; this catalyses the growth of the AC electric motor sales in oil and gas market. Large compressors and pumps are the backbone of the oil and gas industry and are found in applications such as gas pipeline boosting stations, refrigeration trains at liquefied natural gas (LNG) plants, and petrochemical plants and refineries. Electric motors are often used as a replacement for mechanical gas turbines due to reduced downtime and low maintenance. As they allow optimum plant flow balance to be obtained with lower energy costs and high efficiency, they are suitable for application in the oil and gas industry and propel the market growth.AC Electric Motor Sales in Oil and Gas Market Trends
With the increasing awareness about rapid climate change and the need to limit carbon dioxide emissions, the gas and oil market has become more aware of the importance of energy-efficient motors. Technological advances is a crucial trend in AC electric motor sales in oil and gas market. The rising demand for AC motors that can endure the most severe applications while providing high efficiency and low maintenance is also propelling the market growth. As the production, as well as consumption for oils and gas, is increasing, the demand for effective machinery is also boosting the AC electric motor in oil and gas industry.Recent Developments
As per the electric motor sales in oil and gas market dynamics and trends, ABB announced the launch of the AMI 5800 NEMA modular induction motor in June 2023 for usage in pumps, compressors, and fans, among others. These motors offer superior modularity and customisation, which makes them suitable for use in the oil and gas sector.Industry Outlook
The Growing Demand for Energy and Expanding Oil Exploration by Leading Economies Drive the Growth of the Market.According to World Energy and Climate Statistics, in 2023, global oil production witnessed significant outputs from several key countries, reflecting their pivotal roles in the energy sector. As per the AC electric motor sales in oil and gas industry analysis, the United States led the world in oil production, producing 820 Mt. This dominant position underscores the country's advanced extraction technologies and extensive oil reserves. Saudi Arabia followed with 542 Mt, maintaining its status as a crucial player in the global oil market, primarily due to its vast reserves and strategic production capabilities.
Despite geopolitical challenges, Russia secured the third position with 535 Mt, demonstrating its substantial influence on the global energy landscape. Canada's production of 289 Mt highlights its robust oil sands industry, contributing significantly to the growth of the AC electric motor sales in oil and gas industry. Iraq produced 212 Mt, reflecting its substantial oil reserves and ongoing recovery and development efforts in its oil sector. China's production of 209 Mt underscores its efforts to boost domestic production to meet its massive energy demands.
The United Arab Emirates (UAE) produced 192 Mt, emphasizing its strategic investments in oil extraction and infrastructure. Iran and Brazil both produced 178 Mt, showcasing their extensive reserves and strategic importance in their respective regions. Kuwait's production of 138 Mt indicates its continued reliance on its vast oil reserves as a cornerstone of its economy and also contributes to the AC electric motor sales in oil and gas industry revenue. Mexico and Norway, with productions of 98 Mt and 96 Mt respectively, highlight their ongoing efforts to sustain and enhance their oil production capabilities.
According to the U.S. Energy Information Administration (EIA), the consumption of renewable energy sources is expected to reach nearly 250 quadrillion Btu by 2050. Petroleum and other liquids will continue to play a major role in the global energy mix, maintaining relatively stable consumption levels, which can aid the AC electric motor sales in oil and gas demand. Natural gas consumption is projected to reach approximately 200 quadrillion Btu by 2050.
By 2050, the global energy mix will have transformed considerably compared to 2018. Renewables' share is projected to increase from 15% to 28%, reflecting their growing importance. Petroleum and other liquids will decrease from 32% to 27%, while natural gas will maintain a steady share of around 22%.
AC Electric Motor Sales in Oil and Gas Industry Segmentations
AC motors are electric motors that convert alternating current into mechanical power by using an electromagnetic induction phenomenon. They may be single phased or three phased; the latter is applied in the industry to convert bulk power from electrical to mechanical, while the former is used in small power conversions such as in homes, offices, factories etc. They offer an efficient method of producing mechanical energy from a simple electrical input signal.The major types of AC electric motor sales in oil and gas market are:
- Induction Motor
- Synchronous Motor
The market can be broadly categorised on the basis of voltage into:
- Less than 1kV
- Between 1 kV and 6.6 kV
- Greater than 6.6 kV
Based on the output power, the AC electric motor sales in oil and gas market is segmented into:
- Less than 1 HP
- Greater than 1 HP
The report looks into the regional markets of AC electric motor sales in oil and gas market like:
- North America
- Europe
- Latin America
- Asia-Pacific
- Middle East and Africa
AC Electric Motor Sales in Oil and Gas Market Share
The market is expanding due to the automation in the oil and gas sector, changing power consumption patterns and the rising demand for industrial motors. Furthermore, new product launches by the leading companies and diverse applications in other segments aid the market growth. The cost-effectiveness and low maintenance are some of the important drivers fuelling the demand of AC electric motor sales in oil and gas market. Moreover, AC electric motors are available in a variety of sizes and power capacities in order to function efficiently and reliably, ranging from small machine tools to powering large pumps, conveyers or hoists. Alternating current motors used in hydraulic fields and not only increase the efficiency up to 3 or 4 times but also saves energy in the process, further lubricating the industry growth.AC Electric Motor Sales in Oil and Gas Market Regional Analysis
The Asia-Pacific is one of the leading regions of the market and is expected to dominate in the forecast period. China and Japan are some of the largest markets in the regions. The rapid industrialisation and the robust demand for industrial machinery and efficient motors, especially in the oil and gas industry, are expected to drive the market for AC motors. The markets in Europe and North America are also flourishing rapidly due to various technological advancements and innovations and contributing to the AC electric motor sales in oil and gas market revenue. According to the International Petroleum Industry Environmental Conservation Association (IPIECA), electric motors represent over 60-70% of electricity use in oil and gas operations solely in the United States; trends such as these are expected to boost market growth.Competitive Landscape
The report presents a detailed analysis of the following key players in the global AC electric motor sales in oil and gas market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:- ABB Ltd.
- Siemens AG
- Schneider Electric SE
- Rockwell Automation, Inc.
- Toshiba International Corporation
- Others
AC Electric Motor Sales in Oil and Gas Market Report Snapshots
AC Electric Motor Sales in Oil and Gas Market Size
AC Electric Motor Sales in Oil and Gas Market Growth
AC Electric Motor Sales in Oil and Gas Market Trends
AC Electric Motor Sales in Oil and Gas Market Share
AC Electric Motor Sales in Oil and Gas Companies
AC Electric Motor Sales in Oil and Gas Market Regional Analysis
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global AC Electric Motor Sales in Oil and Gas Market Analysis
6 North America AC Electric Motor Sales in Oil and Gas Market Analysis
7 Europe AC Electric Motor Sales in Oil and Gas Market Analysis
8 Asia-Pacific AC Electric Motor Sales in Oil and Gas Market Analysis
9 Latin America AC Electric Motor Sales in Oil and Gas Market Analysis
10 Middle East and Africa AC Electric Motor Sales in Oil and Gas Market Analysis
11 Market Dynamics
13 Competitive Landscape
Companies Mentioned
The key companies featured in this AC Electric Motor Sales in Oil and Gas market report include:- ABB Ltd.
- Siemens AG
- Schneider Electric SE
- Rockwell Automation, Inc.
- Toshiba International Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 176 |
| Published | August 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 13.2 Billion |
| Forecasted Market Value ( USD | $ 20.89 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
