Competitive Analysis of the Electric Ac Motors Market: Leading Players and Market Share
Market Overview Global Electric AC Motors Market size and share is currently valued at USD 19.10 billion in 2024 and is anticipated to generate an estimated revenue of USD 29.92 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 4.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034 Electric AC motors, known for their ability to convert alternating current electrical energy into mechanical energy, are widely used across a range of industries, including manufacturing, HVAC systems, automotive, aerospace, and construction. These motors are favored for their reliability, lower maintenance needs, and compatibility with various load conditions. The market for electric AC motors encompasses two primary types: induction motors and synchronous motors . While induction motors remain the more commonly used variant due to their simplicity and rugged d...