Global Oil & Gas AC Electric Motors Market Size By Product, By Voltage, By Output Power (HP), By Geographic Scope And Forecast
Oil & Gas AC Electric Motors Market Size And Forecast
Oil & Gas AC Electric Motors Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.
Global Oil & Gas AC Electric Motors Market Overview
This growing automation in the oil & gas sector, the transition to energy-efficient motors in the oil & gas industry owing to has escalated the market. The large-scale automation leading to an exploration of new oil & gas reserves in the emerging markets and new geographies offers new growth avenues for the AC electric motor sales in the oil & gas market. Furthermore, growing product popularity and use in cranes, machine tools, pumps, auxiliary generators, and centrifugal & reciprocating compressors to provide effective oil & gas exploration will drive the demand for the forecast period. Moreover, the rise in industrialization, population, urbanization, and the presence of hydrocarbon reserves will positively anticipate to drive the demand of the global oil & gas AC electric motors market.
Global Oil & Gas AC Electric Motors Market: Segmentation Analysis
The Global Oil & Gas AC Electric Motors Market is segmented based on Product,Voltage,Output Power (HP), and Geography.
Key Players In Oil & Gas AC Electric Motors Market
The major players in the market are
- Allied Motion
- Regal Beloit
- Johnson Electric
- ARC System
- Schneider Electric
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