Electric AC Motors Market Worth $146.6 Billion by 2025
The global electric AC motors market is expected to reach $146.6 billion by 2025, according to a new report by Grand View Research, Inc. These products are widely used in compressors, fixed cranes, diesel electric engines, and domestic appliances. Their key advantages, such as cost-effectiveness and efficient operation in harsh environments, are making them suitable for a variety of applications. These high-efficiency products are likely to witness huge growth, owing to their low maintenance requirements, long operating life, and low power consumption.
The rising global demand for AC motors-driven engines is also spurring the market growth. Furthermore, factors, such as growing demand for HVAC equipment and industrial machinery, are projected to propel the market demand by 2025. AC motors have undergone numerous technological advancements over the past few years, which have resulted in increased demand for these motors.