From GlobeNewswire:

Custom Market Insights has published a report on the global AC Electric Motor Market, forecasting growth from USD 15.9 billion in 2023 to USD 26 billion by 2032 at a CAGR of 5.8%. Factors driving market expansion include energy efficiency, industrial automation, electrification of transportation, technological advancements, and government initiatives for energy conservation.

The AC Electric Motor market is experiencing growth due to increasing emphasis on energy efficiency and environmental impact, driven by industries and consumers prioritizing sustainable practices. Industrial automation and robotics also contribute to market expansion, enhancing productivity, precision, and efficiency in manufacturing processes.

The global shift towards electrification of transportation systems, including electric vehicles, boosts the demand for AC Electric Motors. Technological advancements in motor design, integration of IoT and Industry 4.0, government initiatives for energy conservation, and expansion in renewable energy projects drive market growth.

The AC Electric Motor market is fueled by increasing demand for HVAC systems in residential, commercial, and industrial sectors. Manufacturers focus on developing lightweight and compact designs to cater to industries with space constraints and contribute to overall efficiency. The adoption of AC motors in household appliances also drives market growth.

During the COVID-19 pandemic, the AC Electric Motor market demonstrates resilience in essential industries like healthcare, food and beverage, and essential manufacturing. The pandemic accelerates automation adoption, supply chain adaptability, emphasis on air quality and ventilation, growth in e-mobility initiatives, and digitalization for remote monitoring and maintenance in the market.



Read more at GlobeNewswire: [Latest] Global AC Electric Motor Market Size/Share Worth