Electric AC Motors Market Size, Share, Growth Analysis, By Type(Synchronous and asynchronous motors), By Application(Industrial machinery, automotive, HVAC systems, and more), By Region - Industry Forecast 2024-2031

Global Electric AC Motors Market size was valued at USD 134.0 billion in 2022 and is poised to grow from USD 143.11 billion in 2023 to USD 242.24 billion by 2031, at a CAGR of 6.8% during the forecast period (2024-2031).

The global AC electric motors market is experiencing robust growth driven by the expanding industrial and automotive sectors.

Increasing emphasis on energy efficiency and environmental concerns is promoting the adoption of electric vehicles and appliances, propelling the demand for AC motors.

The integration of the Internet of Things (IoT) and Industry 4.0 concepts was transforming the electric AC motor market. Motor manufacturers were incorporating sensors and connectivity features into their products, enabling real-time monitoring, remote control, and predictive maintenance.

This shift towards "smart" motors allowed for better performance monitoring, reduced downtime, and overall improved operational efficiency.

Technological advancements, such as variable frequency drives and smart motor systems, are enhancing motor efficiency and control. Asia-Pacific holds a significant market share due to rapid industrialization and urbanization.

However, supply chain disruptions and raw material price fluctuations pose challenges.

Overall, the AC electric motors market is poised for sustained expansion, fueled by evolving industries and heightened sustainability awareness.

US Electric AC Motors Market is poised to grow at a sustainable CAGR for the next forecast year.