International. The global alternating current (AC) electric motor market is expected to reach $146.6 billion by 2025, according to a new report from Grand View Research, Inc. These products are widely used in compressors, fixed cranes, diesel engines and household appliances.
The growing global demand for AC motors is also driving the growth of the market. In addition, factors such as increasing demand for HVAC equipment and industrial machinery are anticipated to drive market demand by 2025. AC motors have experienced numerous technological advancements in recent years, which has resulted in increased demand for these motors.
The electric AC motors market is anticipated to experience substantial growth during the forecast period, owing to the increasing number of industries in developed and developing countries. The market is driven by the wide adoption of these products in various industrial equipment, such as fixed cranes, conveyor belts, electric saws, etc.
Ever-rising fuel prices and the growing need among consumers to use cleaner energy sources have driven the growth of the electric motor market in recent years. An AC motor acts as the key component of electric motors that is likely to drive demand. In addition, increasing environmental concerns and increasing government initiatives related to environmental conservation continue to be the major drivers of market growth.
HVAC systems are primarily employed in various locations, such as retail spaces, offices, and shopping malls. The increasing rate of urbanization and an improved standard of living have led to the large-scale installation of HVAC systems. AC motors are used in HVAC equipment to drive fans that regulate airflow.
